Mastery Problem Analyzing transactions into debit and credit parts LO4, 5The T accounts for Gardens Plus are in your Working Papers.Instructions:1. Using only one set of T accounts, analyze each transaction into its debit andcredit parts. Write the debit and credit amounts in the proper T accounts toshow how each transaction changes account balances. Write the date of thetransactions before each amount. Selected transactions for Gardens Plus forApril are given as an example of how to use only one set of T accounts.Chapter 2, Problem 1MP, Mastery Problem Analyzing transactions into debit andcredit parts LO4, 5 The T accounts for GardensMay1. Received cash from owner as an investment, $3,700.00.2. Paid cash for rent, $600.00.4. Paid cash for supplies, $400.00.4. Received cash from sales, $950.00.5. Paid cash for insurance, $375.00.8. Sold services on account to Lee Chen, $800.00.9. Bought supplies on account from Sullivan Supplies, $300.00.10. Paid cash for repairs, $85.00.11. Received cash from owner as an investment, $2,900.00.May11. Received cash from sales, $1,000.00.12. Bought supplies on account from West End Supplies, $230.00.13. Received cash on account from Lee Chen, $650.00.15. Paid cash for miscellaneous expense, $35.00.16. Paid cash on account to Sullivan Supplies, $60.00.22. Paid cash for electric bill (utilities expense), $65.00.23. Paid cash for advertising, $105.00 25. Sold services on account to Parker McCure, $550.00.26. Paid cash to owner for personal use, $500.00.30. Received cash on account from Parker McCure, $300.00.
Mastery Problem Analyzing transactions into debit and credit parts LO4, 5
The T accounts for Gardens Plus are in your Working Papers.
Instructions:
1. Using only one set of T accounts, analyze each transaction into its debit and
credit parts. Write the debit and credit amounts in the proper T accounts to
show how each transaction changes account balances. Write the date of the
transactions before each amount. Selected transactions for Gardens Plus for
April are given as an example of how to use only one set of T accounts.
Chapter 2, Problem 1MP, Mastery Problem Analyzing transactions into debit and
credit parts LO4, 5 The T accounts for Gardens
May
1. Received cash from owner as an investment, $3,700.00.
2. Paid cash for rent, $600.00.
4. Paid cash for supplies, $400.00.
4. Received cash from sales, $950.00.
5. Paid cash for insurance, $375.00.
8. Sold services on account to Lee Chen, $800.00.
9. Bought supplies on account from Sullivan Supplies, $300.00.
10. Paid cash for repairs, $85.00.
11. Received cash from owner as an investment, $2,900.00.
May
11. Received cash from sales, $1,000.00.
12. Bought supplies on account from West End Supplies, $230.00.
13. Received cash on account from Lee Chen, $650.00.
15. Paid cash for miscellaneous expense, $35.00.
16. Paid cash on account to Sullivan Supplies, $60.00.
22. Paid cash for electric bill (utilities expense), $65.00.
23. Paid cash for advertising, $105.00
25. Sold services on account to Parker McCure, $550.00.
26. Paid cash to owner for personal use, $500.00.
30. Received cash on account from Parker McCure, $300.00.
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