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QUESTION ASSETS Transactions Received cash trom owner as an investment. 2. Bought supplies on account 3. Paid cash for supplies. 4. Paid cash for Insurance. 5. Pald cash on account. For each transaction, enter a plus sign (+) in the appropriate column if the account classification asset, liability, or owner's equity is increased. Enter a minus sign (-) in the appropriate column if the account classification is decreased. Both a plus sign (+) and a minus sign (-) can be entered, if necessary. Trans. No. Assets = Liabilities + Owner's Equity 2 3

QUESTION ASSETS Transactions Received cash trom owner as an investment. 2. Bought supplies on account 3. Paid cash for supplies. 4. Paid cash for Insurance. 5. Pald cash on account. For each transaction, enter a plus sign (+) in the appropriate column if the account classification asset, liability, or owner's equity is increased. Enter a minus sign (-) in the appropriate column if the account classification is decreased. Both a plus sign (+) and a minus sign (-) can be entered, if necessary. Trans. No. Assets = Liabilities + Owner's Equity 2 3

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Working Papers 1-2 2. 1-2 ON YOUR OWN, p. 17 ▼ QUESTION ASSETS Transactions 1. Received cash trom owner as an investment. 2. Bought supplies on account 3. Paid cash for supplies. 4. Paid cash for insurance. 5. Paid eash on account. For each transaction, enter a plus sign (+) in the appropriate column if the account classification asset, liability, or owner's equity is increased. Enter a minus sign (-) in the appropriate column if the account classification is decreased. Both a plus sign (+) and a minus sign (-) can be entered, if necessary. Trans. No. Assets = Liabilities + Owner's Equity 4 5n
Transcribed Image Text:Working Papers 1-2 2. 1-2 ON YOUR OWN, p. 17 ▼ QUESTION ASSETS Transactions 1. Received cash trom owner as an investment. 2. Bought supplies on account 3. Paid cash for supplies. 4. Paid cash for insurance. 5. Paid eash on account. For each transaction, enter a plus sign (+) in the appropriate column if the account classification asset, liability, or owner's equity is increased. Enter a minus sign (-) in the appropriate column if the account classification is decreased. Both a plus sign (+) and a minus sign (-) can be entered, if necessary. Trans. No. Assets = Liabilities + Owner's Equity 4 5n
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