unit -4 assignment - template 6-1 Unit 4 Section 4 – Accounting Worksheet Part 1 Analyze and record, in the form of T Accounts, Mr. James’ transactions: Jan 1: Amount invested in the business $10,000 Jan 7: Bought equipment for $500 Jan 9: Bought off

unit -4 assignment - template 6-1
Unit 4 Section 4 – Accounting Worksheet

Part 1
Analyze and record, in the form of T Accounts, Mr. James’ transactions:

Jan 1: Amount invested in the business $10,000
Jan 7: Bought equipment for $500
Jan 9: Bought office furniture with $2,000 cash
Jan 10: Bought materials with $2,000 cash
Jan 17: Sold part of equipment for $200
Jan 18: Bought computer on credit for $1,000
Jan 19: Purchased office stationary for $100
Jan 25: Paid $700 cash toward computer purchased on credit

Guidelines for the assignment:
•    Identify the account
•    Classify the account
•    Identify (Debit or credit i.e. left side or right side) the appropriate side to record
•    Make an entry under the appropriate side