Accounting Homework

Print by: Alfear Holmes ACC557065VA016-1146-001: Financial Accounting / Week 2 Homework: Chapter 02

*Exercise 2-9 (Part Level Submission) Selected transactions from the journal of Roberta Mendez, investment broker, are presented below.

Date Account Titles and Explanation Ref. Debit Credit Aug.1 Cash 5,000

Common Stock 5,000 (Investment of cash for stock)

10 Cash 2,700 Service Revenue 2,700 (Received cash for services provided)

12 Equipment 5,000 Cash 1,000 Notes Payable 4,000 (Purchased office equipment for cash and notes payable)

25 Accounts Receivable 1,600 Service Revenue 1,600 (Billed clients for services provided)

31 Cash 850 Accounts Receivable 850 (Receipt of cash on account)

*(a) Post the transactions to T accounts. (Post entries in the order displayed in the problem statement.)

Cash

Accounts Receivable

Equipment

Notes Payable

Common Stock

Page 1 of 2Exercise 2-9 (Part Level Submission)

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Service Revenue

*(b) The parts of this question must be completed in order. This part will be available when you complete the part above.

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Page 2 of 2Exercise 2-9 (Part Level Submission)

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