accounting

financial statement 

1.  For each of the transactions below, write down where it would be recorded in the financial statements:  

a)     a) Purchased $450 supplies with cash

b)  Purchased new copy machine $10,000 on credit to be paid in 6 months

c)  Took out a $15, 000 loan from the bank, proceeds were deposited in organization’s account on the same day.

d)  Received $2,000 deposit from the customer for a service to be provided by organization next month

e)  Received a $5,000 payment on a pledge from last quarter campaign

f)  Paid a $6,000 6 months premium on liability insurance, 3 months are in the next fiscal year.

g)  Paid $15,000 in wages that were earned in previous period.

h)  Billed $50,000 on the County contract for services provided last month.