Transactions: June 12. Paid cash for rent, $800.00. 14. Received cash from sales, $68.00. 15. Sold services on account to Theo Moses, $130.00. 18. Paid cash to owner for a withdrawal of equity, $280.00. 19. Received cash on account from Theo Moses, $130.00.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Go to pg. 49
* AA
2-3 On Your Own
A-Z
Analyzing revenue, expense, and withdrawal transactions into debit and
credit parts
T accounts are given in the Warking Papers. Work this problem independently.
Use the chart of accounts for Plumbing Solutions in On Your Own 2-2.
Transactions:
June
12. Paid cash for rent, $800.00.
14. Received cash from sales, $68.00.
15. Sold services on account to Theo Moses, $130.00.
18. Paid cash to owner for a withdrawal of equity, $280.00.
19. Received cash on account from Theo Moses, $130.00.
1. Prepare two T accounts for each transaction. On each T account, write the
account title of one of the accounts affected by the transaction.
2. Write the debit or credit amount in each T account to show the
transaction's effect.
INTL O 2:14
Transcribed Image Text:Go to pg. 49 * AA 2-3 On Your Own A-Z Analyzing revenue, expense, and withdrawal transactions into debit and credit parts T accounts are given in the Warking Papers. Work this problem independently. Use the chart of accounts for Plumbing Solutions in On Your Own 2-2. Transactions: June 12. Paid cash for rent, $800.00. 14. Received cash from sales, $68.00. 15. Sold services on account to Theo Moses, $130.00. 18. Paid cash to owner for a withdrawal of equity, $280.00. 19. Received cash on account from Theo Moses, $130.00. 1. Prepare two T accounts for each transaction. On each T account, write the account title of one of the accounts affected by the transaction. 2. Write the debit or credit amount in each T account to show the transaction's effect. INTL O 2:14
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