U2IP_PRINCIPLESOFACCOUNTING
MgjZfIu0
u2_ip_choice2.docUnit 2
Student Name__________________________
Individual Project 2B form
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Transaction |
Debit |
Credit |
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10/01 |
Opened a business checking account (bank) with a deposit of $25,000 from her personal account |
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10/02 |
Purchased computer supplies for $1,500 paying for all of it by check from the business checking account |
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3
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Provided services to ABC Inc. and received payment of $795 for services rendered |
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4 |
Paid rent for the company’s office space for the month, $900 |
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5 |
Paid office salaries, $2,100 |
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6 |
Billed customers for services provided on account, $17,000 |
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7 |
Purchased computer supplies for $3,000 paying $750 in cash and the rest on account |
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8 |
Paid automobile expenses of $250 and miscellaneous expenses of $100 |
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9 |
Paid creditors on account, $500 |
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10 |
Received cash payment of $5,000 from customers previously billed (on account) |
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11 |
Determined the cost of supplies available on hand at the end of the month is $2,500; therefore, the cost of supplies used was $2,000
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12 |
Withdrew cash for personal use, $1,000 |
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