Assets = Liabilities

14,430 = 0
14,430
Accounts Debit (Credit) Accounts Beg Trial Entries
Balance

a. Accounts Receivable 13,000 Cash 0 13,650

Revenue or income (13,000) Accounts Receivable 0 780
Supplies 0
b. Cash 13,000 Equipment 0
Accounts Receivable (13,000) Accumulated Depreciation 0
Accounts Payable 0
c. Accounts Receivable 650 Owner Capital 0
Revenue or income (650) Revenue or income 0 (14,430)
Wages Expense 0
d. Accounts Receivable 780 Utilities Expense 0
Revenue or income (780) Total Debits - Total (credits) 0 0
Net Income 0 (14,430)
e. Cash 650
Accounts Receivable (650) Activity
a. Performed work on account and
13,000
invoiced the client
b. Received cash on account for
13,000
work performed in the past
c. Performed work on account and
650
invoiced the client
d. Performed work on account and
780
invoiced the client
e. Received cash on account for
650
work performed in the past
 + Owner's Equity
+ 14,430 None
14,430 Increase
End Trial
Balance What was effect on asset liability and owner's equity? Decrease
13,650 Assets = Liabilities + Owner's Equity
780 a. Increase = None + Increase Yes
0 No
0 b. None = None + None
0
0 c. Increase = None + Increase
0
(14,430) d. Increase = None + Increase
0
0 e. None = None + None
0
(14,430) Is revenue recognized when we receive cash? No

Is revenue recognized when we have earned it Yes

whether cash has been received or not?

13,000

13,000

650

780

650
 Assets = Liabilities
0 = 0
0
Accounts Debit (Credit) Accounts Beg Trial Entries
Balance

a. Cash 0
Accounts Receivable 0
Supplies 0
b. Equipment 0
Accumulated Depreciation 0
Accounts Payable 0
c. Owner Capital 0
Revenue or income 0
Wages Expense 0
d. Utilities Expense 0
Total Debits - Total (credits) 0 0
Net Income 0 0
e.
Activity
a. Performed work on account and
13,000
invoiced the client
b. Received cash on account for
13,000
work performed in the past
c. Performed work on account and
650
invoiced the client
d. Performed work on account and
780
invoiced the client
e. Received cash on account for
650
work performed in the past
 + Owner's Equity
+ 0 None
0 Increase
End Trial
Balance What was effect on asset liability and owner's equity? Decrease
0 Assets = Liabilities + Owner's Equity
0 a. = + Yes
0 No
0 b. = +
0
0 c. = +
0
0 d. = +
0
0 e. = +
0
0 Is revenue recognized when we receive cash?

Is revenue recognized when we have earned it

whether cash has been received or not?

13,000

13,000

650

780

650