AT&T; LTE 1:18 PM Unit 2-Chapter 2 Assig eBook: Apply transaction analysis to ac

Question

AT&T; LTE 1:18 PM Unit 2-Chapter 2 Assig eBook: Apply transaction analysis to accounting transactions eBook Interpret the balance sheet using the curent ratio and an understanding of related concegts eBook: Prepare an unadjusted trial balance and a classfled balance sheet elook Use joumal entries and Taccounts to show how transactions affect Check my work t Record the transaction effects determined in part 1 using a journal entry format or no ertry is required for the first account field) eBook: Apply ansactionalyis to accounting transactions eBook Interpret the balance sheet using the.cumnttioand an nderstanding of related concepts eBook Prepare an unadiusted trial balance and a classifed balance sheet eBook: Use jourmal entries and T-ccount to show how transactions afect Check my work 6.

Explanation / Answer

Journal Entry Date Particulars Dr. Amt Cr. Amt. a Cash                                                          Dr.           400,000    To Common Stock         400,000 b Cash                                                          Dr.           115,000    To Bank Loan - Liability         115,000 c Building                                                   Dr.           188,000    To Cash            77,000    To Notes Payable         111,000 d Equipment                                             Dr.           101,000    To Cash         101,000 e Supplies                                                  Dr.           101,000    To Accounts Payable         101,000

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