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FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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
Transcribed Image Text:Practice Chapter 2 -Microsoft Excel Vieswer
Irepeat for the ride side of the account
repeat for each of the other accounts
个4
个4
44
(2) Record the transactions (a-n) listed below
(3) Calculate the final balance in each account.
(4) Prepare a Trial Balance
(S) Prepare the 3 financial statements from the Trial Balance
Balance:
Balance:
TRANSACTIONS
a. Lewis deposited $50,000 in a bank account in the name of the business on 1/5/21
个4
个4
个
个4
b. Bought waiting room chairs and tables on account, $1,250
c Bought a fax/copier/scanner combination from Office Depot for $595, paying $200 in cash and placing the balance on account
(Check #1001)
18
d. Bought an intercom system on account from Eastman Office Supply, $375
e. Received and paid the telephone bill, $250 (Check # 1002)
Balance:
Balance:
f Sold professional services on account, $1,484
33
34
55
56
57
58
39
& Received and paid the electric bill, $225 (Check #1003)
h. Received and paid the bill for the dycalculia convention, $750 (Check #1004)
LSold professional services for cash, $2,575
1 Paid on account to Eastman Office Supply, $300 (Check #1005)
60
61
62
k. Paid the rent for the current month, $1,200 (Check #1006)
1 Paid salary of the receptionist, $880 (Check #1007)
54
55
m. Lydia withdrew cash for personal use, $800 (Check #1008)
EGO
n. Received $885 on account from patients who wvere previously billed
4 e Record Transactions.

Transcribed Image Text:Quick Print
Fint Preview
ice Document
Copy
Find
Go
To
Page
Print
Setup Area
Page Setup
Switch
Windows
Edit
Window
DEF
H
IJK
M
NCP
R.
STU
V.
W
AA
AB
EXPENSES
ASSETS
LIABILITIES
CAPITAL
DRAWING
REVENUE
个4
个业
个业
个业
个业
个业
个业
个业
个业
个业
个业
Balance:
Balance:
Balance:
Balance:
Balance:
Balance:
Lydia Lewis opens a Math Monkey Tutoring Center on 1/5/21.
Her accountant prepared the following chart of accounts:
Assets: Cash, Accounts Receivable, Office Equipment, Office Furniture
Liabilities: Accounts Payable
Owner's Equity: LLewis, Capital and LLewis, Drawing
Revenue: Professional Fees
Expenses: Salary Expense, Rent Expense, Utilities Expense, Miscellaneous Expense
个业
个业
个业
(1) Prepare the Taccounts
illabel each T account with the appropriate name, using the chart of accounts above
Balance:
ifor each account, remove one of the arrows from the left side of the T
Balance:
leave the appropriate arrow to indicate what happens on the left side of that particular account
in other words, is the left side the increase side or the decrease side of the account?
Irepeat for the ride side of the account
个4
Irepeat for each of the other accounts
个业
个业
(2) Record the transactions (a-n) listed below.
(3) Calculate the final balance in each account.
Ouestons Record Transactions
dy
O Type here to search
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