Date Account Title Debit Credit 1/1 Cash 100,000 Mr. X Capital 100,000 1/2 Rent Expense 5,000 Cash 5,000 1/5 Supplies 15,700 Accounts Payable 15,700 1/7 Advertising Expense 7,500 Cash 7,500 1/8 Furniture 30,500 Accounts Payable 30,500 1/9 Car 150,000 Cash 50,000 Notes Payable 100,000 1/13 Cash 25,000 Service Revenue 25,000 1/15 Cash 5,000 Notes Receivable 20,000 Service Revenue 25,000 1/18 Accounts Receivable 15,000 Service Revenue 15,000 1/19 Accounts Payable 30,500 Cash 30,500 1/25 Cash 15,000 Accounts Receivable 15,000 1/26 Utility Expense 2,000 Cash 2,000 1/29 Mr. X Drawing 3,000 Cash 3,000 1/30 Salary Expense 5,000 Cash 5,000 Debit Credit Cash Accounts Receivable Notes Receivable Furniture Supplies Car Accounts Payable Notes Payable Mr. X Capital Mr. X Drawing Service Revenue Rent Express Advertising Expense Utility Expense Salary Expense Do the T-accounts and balance sheet

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Concept explainers

Topic Video

Question

100%

Date	Account Title	Debit	Credit
1/1	Cash	100,000
	Mr. X Capital		100,000
1/2	Rent Expense	5,000
	Cash		5,000
1/5	Supplies	15,700
	Accounts Payable		15,700
1/7	Advertising Expense	7,500
	Cash		7,500
1/8	Furniture	30,500
	Accounts Payable		30,500
1/9	Car	150,000
	Cash		50,000
	Notes Payable		100,000
1/13	Cash	25,000
	Service Revenue		25,000
1/15	Cash	5,000
	Notes Receivable	20,000
	Service Revenue		25,000
1/18	Accounts Receivable	15,000
	Service Revenue		15,000
1/19	Accounts Payable	30,500
	Cash		30,500
1/25	Cash	15,000
	Accounts Receivable		15,000
1/26	Utility Expense	2,000
	Cash		2,000
1/29	Mr. X Drawing	3,000
	Cash		3,000
1/30	Salary Expense	5,000
	Cash		5,000

	Debit	Credit
Cash
Accounts Receivable
Notes Receivable
Furniture
Supplies
Car
Accounts Payable
Notes Payable
Mr. X Capital
Mr. X Drawing
Service Revenue
Rent Express
Advertising Expense
Utility Expense
Salary Expense

Do the T-accounts and balance sheet

Expert Solution

Trending now

This is a popular solution!

Step by step

Solved in 3 steps with 1 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions