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Print by: Cindy Stanley


ACC100020VA016-1126-001 / HW Chpt 2



E2-6


Konerko Industries had the following transactions.


  1.  
    1. Borrowed $5,000 from the bank by signing a note.


  1.  
    1. Paid $2,500 cash for a computer.


  1.  
    1. Purchased $700 of supplies on account.


Instructions


  1. Indicate what accounts are increased, decreased or has no effect by each transaction. (No effect is used when the account is not debited or credited.)


Assets        =        Liabilities        +        Owners Equity



1.



2.



3.


(b) Journalize each transaction.



Account/Description        Debit        Credit


1.



2.



3.




Question Attempts: 0 of 3 used




Copyright © 2000-2012 by John Wiley & Sons, Inc. or related companies. All rights reserved.




 

Print by: Cindy Stanley

ACC100020VA016-1126-001 / HW Chpt 2


E2-2


Selected transactions for D. Reyes, an interior decorator in her first month of business, are as follows.


Jan.

2

Invested $10,000 cash in business.


3   Purchased used car for $4,000 cash for use in business.


9   Purchased supplies on account for $500.


11

Billed customers $1,800 for services performed.


16

Paid $200 cash for advertising.


 

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