Presentation
12
Chapter 1-1
-
Upload
joachim-dip-gomes -
Category
Documents
-
view
194 -
download
15
Transcript of Presentation
Chapter 1-1
Chapter 1-2
GOODGOOD
MORNINGMORNING
Chapter 1-3
Welcome all of you from the “ANGEL” group
Chapter 1-4
Presentation on Presentation on tabular analysis tabular analysis of CINDY of CINDY BELTON’S law BELTON’S law office of the office of the August August transactions transactions beginning with beginning with July 31 July 31 balances.balances.
Chapter 1-5
P1-2B:P1-2B: Cindy Belton opened a law office, Cindy Belton, Attorney at Law, on July 1, 2008. On July 31, the balance sheet showed Cash $4000, Accounts Receivable $1,500, Supplies $500, Office Equipment $5,000, Accounts Payable $4,200, and Cindy Belton, Capital $6,800. During August the following transactions occurred.
Transactions (Problem)Transactions (Problem)Transactions (Problem)Transactions (Problem)
+1400 -1400
CashAccounts
ReceivableOffice
EquipmentNotes
PayableCindy
Belton, Capital
+ = +
1. Collected $1,400 of accounts receivable.
Investment
Assets Liabilities Equity
Supplies ++Accounts Payable +
Chapter 1-6
2. Paid $2,700 cash on accounts payable.
CashAccounts
ReceivableOffice
EquipmentNotes
PayableCindy
Belton, Capital
+ = +
Assets Liabilities Equity
Supplies ++Accounts Payable +
Transactions (Problem)Transactions (Problem)Transactions (Problem)Transactions (Problem)
+1,400
-2,700 -2,700
Investment-1,400
Chapter 1-7
Transactions (Problem)Transactions (Problem)Transactions (Problem)Transactions (Problem)3. Earned revenue of $9,000 of which $3,000 is collected in cash and the balance is due in September.
CashAccounts
ReceivableOffice
EquipmentNotes
PayableCindy
Belton, Capital
+ = +
Assets Liabilities Equity
Supplies ++
Accounts Payable +
+1,400
-2,700 -2,700
+3,000 +9000 Revenue
Investment-1,400
+6,000
Chapter 1-8
Transactions (Problem)Transactions (Problem)Transactions (Problem)Transactions (Problem)4. Purchased additional office equipment for $1,000, paying $400 in cash and the balance on account .
CashAccounts
ReceivableOffice
EquipmentNotes
PayableCindy
Belton, Capital
+ = +
Assets Liabilities Equity
Supplies ++
Accounts Payable +
+1,400
-2,700-2,700
+3,000+9000 Revenue
-400+600
Investment-1,400
+6,000
+1,000
Chapter 1-9
Transactions (Problem)Transactions (Problem)Transactions (Problem)Transactions (Problem)
5. Paid salaries $3,000, rent for August $900 and advertising expenses $350.
CashAccounts
ReceivableOffice
EquipmentNotes
PayableCindy
Belton, Capital
+ = +
Assets Liabilities Equity
Supplies ++
Accounts Payable +
+1,400
-2,700 -2,700
+3,000 +9000 Revenue
-400 +600-3,000 Expense
Investment-1,400
+6,000
+1,000
-900-350
-3,000-900-350
Expense
Expense
Chapter 1-10
Transactions (Problem)Transactions (Problem)Transactions (Problem)Transactions (Problem)6. Withdrew $750 in cash for personal use.
CashAccounts
ReceivableOffice
EquipmentNotes
PayableCindy
Belton, Capital
+ = +
Assets Liabilities Equity
Supplies ++
Accounts Payable +
+1,400
-2,700 -2,700
+3,000 +9000 Revenue
-400 +600-3,000 Expense
-750 -750 Drawings
Investment-1,400
+6,000
+1,000
-900-350
-3,000-900-350
Expense
Expense
Chapter 1-11
Transactions (Problem)Transactions (Problem)Transactions (Problem)Transactions (Problem)7. Received $2,000 from Standard Federal Bank-money borrowed on a note payable.
CashAccounts
ReceivableOffice
EquipmentNotes
PayableCindy
Belton, Capital
+ = +
Assets Liabilities Equity
Supplies ++Accounts Payable +
+1,400
-2,700 -2,700
+3,000 +9000 Revenue
-400 +600-3,000 Expense
-750 -750 Drawings
+2000 +2000
Investment-1,400
+6,000
+1,000
-900-350
-3,000-900-350
Expense
Expense
Chapter 1-12
Transactions (Problem)Transactions (Problem)Transactions (Problem)Transactions (Problem)8. Incurred utility expenses for month on account $250.
CashAccounts
ReceivableOffice
EquipmentNotes
PayableCindy
Belton, Capital
+ = +
Assets Liabilities Equity
Supplies ++Accounts Payable +
6,820 + 630 + 5,000 = 250 + 12,200
+1,400
-2,700 -2,700
+3,000 +9000 Revenue
-400 +600-3,000 Expense
-750 -750 Drawings
+2000 +2000Expense
Investment
+250 -250
-1,400
+6,000
+1,000
-900-350
-3,000-900-350
Expense
Expense
