Write the debit or credit amount in each T account to show the transaction's effect Analyzing transactions into Some of the accounts will be explained in Lesson 2-3. Cash Accts. Rec.-Johannes Erickson Supplies Prepaid Insurance Accts. Pay.-Supply Depot John Jensen, Capital John Jensen, Drawing Sales Rent Expense Utilities Expense Transactions: Mar. 1. Received cash from owner as an investment, $4,000.00. 3. Paid cash for supplies, $95.00. 4. Bought supplies on account from Supply Depot, $120.00. 6. Paid cash for insurance, $250.00. 9. Paid cash on account to Supply Depot, $80.00. Prepare two T accounts for each transaction. On eachT account, write the account title of one of the accounts affected by the transaction.
Write the debit or credit amount in each T account to show the transaction's effect Analyzing transactions into Some of the accounts will be explained in Lesson 2-3. Cash Accts. Rec.-Johannes Erickson Supplies Prepaid Insurance Accts. Pay.-Supply Depot John Jensen, Capital John Jensen, Drawing Sales Rent Expense Utilities Expense Transactions: Mar. 1. Received cash from owner as an investment, $4,000.00. 3. Paid cash for supplies, $95.00. 4. Bought supplies on account from Supply Depot, $120.00. 6. Paid cash for insurance, $250.00. 9. Paid cash on account to Supply Depot, $80.00. Prepare two T accounts for each transaction. On eachT account, write the account title of one of the accounts affected by the transaction.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:2. Write the debit or credit amount in each T account to show the transaction's effect
Work together 2-
Analyzing transactions into debit and credit parts
Some of the accounts will be explained in Lesson 2-3.
John Jensen, Capital
John Jensen, Drawing
Cash
Accts. Rec.-Johannes Erickson
Supplies
Prepaid Insurance
Accts. Pay.-Supply Depot
Sales
Rent Expense
Utilities Expense
Transactions:
Mar. 1. Received cash from owner as an investment, $4,000.00.
3. Paid cash for supplies, $95.00.
4. Bought supplies on account from Supply Depot, $120.00.
6. Paid cash for insurance, $250.00.
9. Paid cash on account to Supply Depot, $80.00.
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.
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