Alice Roberts uses the following accounts in her business: General Ledger Cash in Bank Office Equipment Accounts Receivable Accounts Payable Office Furniture Alice Roberts, Capital INSTRUCTIONS Analyze each of the following transactions. In your working papers, explain the debit and the credit. Use the format shown in the example. Example: On June 2 Alice Roberts invested $5,000 of her own money in a business called Roberts Employment Agency. a. The asset account Cash in Bank is increased. Increases in asset accounts are recorded as debits. b. The owner's capital account Alice Roberts, Capital is increased. Increases in the owner's capital account are recorded as credits. Date Transactions June 3 1. Purchased a computer on account from Computer Inc. for $2,500. 9. 2. Transferred a desk (Office Furniture) to the business. The desk is worth $750. 15 3. Made a partial payment on account of $1,000 to Computer Inc.

Alice Roberts uses the following accounts in her business: General Ledger Cash in Bank Office Equipment Accounts Receivable Accounts Payable Office Furniture Alice Roberts, Capital INSTRUCTIONS Analyze each of the following transactions. In your working papers, explain the debit and the credit. Use the format shown in the example. Example: On June 2 Alice Roberts invested $5,000 of her own money in a business called Roberts Employment Agency. a. The asset account Cash in Bank is increased. Increases in asset accounts are recorded as debits. b. The owner's capital account Alice Roberts, Capital is increased. Increases in the owner's capital account are recorded as credits. Date Transactions June 3 1. Purchased a computer on account from Computer Inc. for $2,500. 9. 2. Transferred a desk (Office Furniture) to the business. The desk is worth $750. 15 3. Made a partial payment on account of $1,000 to Computer Inc.

Name: Problem 4-2 Identifying Increases and Decreases in Accounts(textbook
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Description: Problem 4-2 Identifying Increases and Decreases in Accounts(textbook p. 91)1.a.b.2.a.b.3.а.b.Copyright McGaw-Hill Education. All rights reseved PROBLEM 4–2 Identifying Increases and Decreases in AccountsAlice Roberts uses the following accounts in h

Century 21 Accounting Multicolumn Journal

11th Edition

ISBN:9781337679503

Author:Gilbertson

Publisher:Gilbertson

Chapter5: Cash Control Systems

Section5.2: Bank Reconciliation

Problem 1WT

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