Description of Transactions Assets

Cash
1 investment 300000
2 Purchased inventory for cash -75000
3 Purchased inventory for cash on open account
4 Purchase returns
5 Purchased equipment for cash -10000
6 Equipment sold to business for cash 4000
7 Payment made to the creditors -16000
8 Purchased merchandise -50000
9 Wade sold half of his stock (no entry)

sub total 153000

Balance as of January 20X1 TOTAL 438000

 JBW CORPORATION
January 20X1
Analysis of Transactions
(In Thousands of Dollars)

Assets = Liabilities +
Inventory Equipment Accounts Payable Notes Payable

75000
85000 85000
-11000 -11000
40000 30000
-4000
-16000
100000 50000

249000 36000 108000 30000

438000 438000
 Owners Equity
Par value Excess Paid in capital
30000 270000

30000 270000

438000
Solution
Assets
Date Transaction Details Cash + AR Supplies
2020
May
1 Investmnent Made by Maisie 7000
2 Office rent paid -900
3 Purchased supplies 800
5 paid for advertisemnet -125
9 Payment recived for services performed 4000
12 drawings -1000
15 Services performed on credit 6400
17 Salaries paid -2500
20 Made partial payment -600
23 Recived partial payment 4000 -4000
26 Borrowed money from bank 5000
29 Purchased equipment on credit
30 paid for utilities -275

14600 0 2400 800

Total 22000
 = Liabilities + Owners Equity
Equipment Notes payable + Accounts Payable + Owners Capital - Owners Drawings +

7000

800

1000

-600
 5000
4200 4200

4200 0 5000 0 4400 0 7000 0 1000 0

000 22000
ners Equity
Revenues - Expenses

900

125
4000

6400
2500
 275

10400 0 3800
Solution
Transaction Analysis
Joan Robinson Law Firm
Date (S.No.) Transaction Details Assets
2020 Cash + AR Supplies
July
1 Investment made by Joan 11,000
2 Rent Paid -800
3 Purchased equipment on Credit
4 Legal services perfromed 1,500
5 Borrowed cash from bank 700
6 Legal services perfromed on credit 2,000
7 Paid monthly expenses -900
8 Drawings by Joan -1,000
10500 2000 0

TOTAL 15500
 Transaction Analysis
Joan Robinson Law Firm
= Liabilities + Owners Equity
Equipment Notes payable + Accounts P+ Owners Capital - Owners Drawings + Revenues -

11,000

3,000 3,000
1,500
700
2,000

1,000
3000 700 3000 11000 0 1000 3500 0

15500
Expenses

800

900

1700
Solution
Transaction Anal
Autopartes Lisb
Date(S.No.) Transaction Details Assets
20X1 Cash + AR Inventory
March
1 Investment made 80,000
2 Purchase of inventory for cash -10,000 10,000
3 Purchase of inventory on credit 8,000
4 Purchase of equipment for cash & on credit -5,000
5 No entry
6 Drawings -600
7 Purchase return 300 -300
 8 No entry
9 Purchase returns -500
10 Payment made -2,000
11 Additional investment made
12 Payment made -3,000
13 No entry
14 No entry
15 Equipment exchanged 2,500

TOTAL 96,900
 Transaction Analysis
Autopartes Lisbon
ts = Liabilities + Owners Equity
Equipment Notes payable + Accounts Payable + Owners Capital - Owners Drawings +

80,000

8,000
15,000 10,000

600
 -500
-2000
5000 5000
-3000

-2500
8,000 4,500 85,000 600
00 96,900
ners Equity
Revenues - Expenses