| ACT300 Principles of Accounting I |
| Module 1: Critical Thinking Template Option #1 |
| | | Template instructions: Use the accounting equation to analyze the transactions that occurred during the first month of operations for Dante Inc. |
| | | Include a written explanation (one sentence) to explain the transaction (i.e. This transaction increases assets by $xxx and decreases liabilites by $xxx). |
| | | Accounts should include: Cash, Accounts Receivable, Equipment, Supplies, Accounts Payable, Notes Payable, Unearned Revenue, |
| | | Revenue (Sales), Capital Stock, and Wages Expense |
| | | [NAME OF COMPANY] |
| | | | | ASSETS | | | = | | LIABILITIES | | + | STOCKHOLDERS' EQUITY |
| | | Item | Cash | Accounts Receivable | Supplies | Equipment | | Accounts Payable | Notes Payable | Unearned Revenue | | Capital Stock | Revenues | Wages Expenses | Tax Expenses |
| Example | | | + $10,000 | | | | | '+$10,000 |
| | | | Explanation of transaction: Transaction increased assets by $10,000 and increased liabilities by $10,000. |
| | | (a) |
| | | | Explanation of transaction: |
| | | (b) |
| | | | Explanation of transaction: |
| | | (c) |
| | | | Explanation of transaction: |
| | | (d) |
| | | | Explanation of transaction: |
| | | (e) |
| | | | Explanation of transaction: |
| | | (f) |
| | | | Explanation of transaction: |
| | | (g) |
| | | | Explanation of transaction: |
| | | (h) |
| | | | Explanation of transaction: |
| | | (i) |
| | | | Explanation of transaction: |
| | | (j) |
| | | | Explanation of transaction: |
| | | (k) |
| | | | Explanation of transaction: |
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ACT300_Critical_Thinking_Template_Option_01_Module_011.xlsx
