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  • Exercise 2-4& 2-7

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    karam2006
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    Exercise 2-4 type normal balance increase a revenue Credit Credit asset Debit Debit. Exercise 2-7 DR 1 Cash Equipment 7500 32500 common stock 2 prepaid insurance Cash 5 supplies Cash 20 Cash fees earned 31 utility Cash. Cash Credit 3000 1400 875 Debit 32500 Equipment Credit 4875 supplies Debit 1400 Credit Debit fees earned.

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    Exercise 2-4 type normal balance increase a revenue Credit Credit asset Debit Debit. Exercise 2-7 DR 1 Cash Equipment 7500 32500 common stock 2 prepaid insurance Cash 5 supplies Cash 20 Cash fees earned 31 utility Cash. Cash Credit 3000 1400 875 Debit 32500 Equipment Credit 4875 supplies Debit 1400 Credit Debit fees earned.

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    © All Rights Reserved
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    2 views3 pages

    Exercise 2-4& 2-7

    Uploaded by

    karam2006
    Exercise 2-4 type normal balance increase a revenue Credit Credit asset Debit Debit. Exercise 2-7 DR 1 Cash Equipment 7500 32500 common stock 2 prepaid insurance Cash 5 supplies Cash 20 Cash fees earned 31 utility Cash. Cash Credit 3000 1400 875 Debit 32500 Equipment Credit 4875 supplies Debit 1400 Credit Debit fees earned.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 3

    Exercise 2-4

    type

    normal balance

    increase

    Revenue

    Credit

    Credit

    Asset

    Debit

    Debit

    Liability

    Credit

    Credit

    Equity

    Credit

    Credit

    Asset

    Debit

    Debit

    Asset

    Debit

    Debit

    Asset

    Debit

    Debit

    Asset

    Debit

    Debit

    Asset

    Debit

    Debit

    equity

    Debit

    Debit

    Revenue

    Credit

    Credit

    Liability

    Credit

    Credit

    Exercise 2-7
    DR
    1 Cash
    Equipment

    CR

    7500
    32500
    common stock

    2 prepaid insurance

    40000
    3000

    cash
    5 supplies

    3000
    1400

    cash
    20 Cash

    1400
    2650

    fees earned
    31 utility

    2650
    875

    cash

    875

    General ledger

    Cash
    Credit
    3000
    1400
    875

    Debit
    7500
    2650

    Debit
    32500

    Equipment
    Credit

    32500

    4875
    supplies
    Debit
    1400

    Credit

    Debit

    fees earned
    Credit
    2650

    1400

    2650

    Equipment
    Credit

    Debit
    32500

    supplies
    Debit
    1400
    1400

    32500

    Debit

    Credit

    Common stock
    Credit
    40000

    prepaid insurance
    Debit
    3000

    40000

    3000

    utility
    Debit

    Credit
    875
    875

    Credit

    Trail Balance

    Cash
    Equipment
    common stock
    prepaid insurance
    supplies
    fees earned
    utility

    Debit
    Credit
    4875
    32500
    40000
    3000
    1400
    2650
    875
    42650
    42650

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