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    Annie Rapanut
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    The document contains a list of transactions recorded by a business between May 06 and May 31. Each transaction includes two accounts that are affected, indicating whether the account balance increases or decreases and whether it is debited or credited. The accounts include assets like cash, equipment, and accounts receivable; liabilities like accounts payable; and owners' equity items like capital, revenue, and various expenses. The transactions record various business activities like purchasing equipment, paying expenses, earning revenue, and collecting or paying accounts.

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    The document contains a list of transactions recorded by a business between May 06 and May 31. Each transaction includes two accounts that are affected, indicating whether the account balance increases or decreases and whether it is debited or credited. The accounts include assets like cash, equipment, and accounts receivable; liabilities like accounts payable; and owners' equity items like capital, revenue, and various expenses. The transactions record various business activities like purchasing equipment, paying expenses, earning revenue, and collecting or paying accounts.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    15 views2 pages

    Specific Account Title

    Uploaded by

    Annie Rapanut
    The document contains a list of transactions recorded by a business between May 06 and May 31. Each transaction includes two accounts that are affected, indicating whether the account balance increases or decreases and whether it is debited or credited. The accounts include assets like cash, equipment, and accounts receivable; liabilities like accounts payable; and owners' equity items like capital, revenue, and various expenses. The transactions record various business activities like purchasing equipment, paying expenses, earning revenue, and collecting or paying accounts.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 2

    TRANSACTION ACCOUNTS AFFECTED TYPE OF ACCOUNTS INCREASE OR DECREASE DEBIT OR CREDIT

    NO. (A,L,OE) (SPECIFIC ACCOUNT TITLE)

    May 06 1. Asset 1. Cash 1. Increase 1. Debit


    2. Owners’ Equity 2. Antonio’s Capital 2. Increase 2.Credit

    May 08 1. Asset 1. Equipment 1. Increase 1. Debit


    2. Asset 2. Cash 2. Decrease 2. Credit

    May 09 1. Asset 1. Prepaid Supplies 1. Increase 1. Debit


    2. Asset 2. Cash 2. Decrease 2. Credit

    May 13 1. Asset 1. Cash 1. Increase 1. Debit


    2. Owners’ Equity 2. Service Revenue 2. Increase 2. Credit

    May 15 1. Asset 1. Accounts receivable 1. Increase 1. Debit


    2. Owners’ Equity 2. Service revenue 2. Increase 2. Credit

    May 17 1. Asset 1. Equipment 1. Increase 1. Debit


    2. Asset 2. Cash 2. Decrease 2. Credit

    May 18 1. Owners’ Equity 1. Wages Expense 1. Increase 1. Debit


    2. Asset 2. Cash 2. Decrease 2. Credit

    May 20 1. Owners’ Equity 1. Supplies Expense 1. Increase 1. Debit


    2. Liability 2. Accounts Payable 2. Increase 2. Credit
    TRANSACTION ACCOUNTS AFFECTED TYPE OF ACCOUNTS INCREASE OR DECREASE DEBIT OR CREDIT
    NO. (A,L,OE) (SPECIFIC ACCOUNT TITLE)

    May 21 1.Asset 1. Cash 1. Increase 1. Debit


    2. Asset 2. Accounts Receivable 2. Decrease 2. Credit

    May 24 1. Liability 1. Accounts Payable/ 1. Decrease 1. Debit


    2. Asset Supplies Expense 2. Decrease 2. Credit
    2. Cash

    May 25 1. Owners’ Equity 1. Wage Expense 1. Increase 1. Debit


    2. Asset 2. Cash 2. decrease 2. Credit

    May 28 1. Asset 1. Cash 1. Increase 1. Debit


    2. Asset 2. Accounts receivable 2. Decrease 2. credit

    May 29 1. Asset 1. Cash 1. Increase 1. Debit


    2. Owners’ Equity 2. Service Revenue 2. Increase 2. Credit

    May 30 1. Owners’ Equity 1. Rent Expense 1. Increase 1. Debit


    2. Asset 2. Cash 2. Decrease 2. Credit

    May 31 1. Owners’ Equity 1. Wage Expense 1. Increase 1. Debit


    2. Asset 2. Cash 2. Decrease 2. Credit

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