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Lewis deposited $50,000 in a bank account in the name of the business on 1/5/21 Bought waiting room chairs and tables on account, $1,250 Bought a fax/copier/scanner combination from Office Depot for $595, paying $200 in cash and placing the balance on account theck #1001) Bought an intercom system on account from Eastman Office Supply, $375 Received and paid the telephone bill, $250 (Check #1002) Sold professional services on account, $1,484 Received and paid the electric bill, $225 (Check a1003) Received and paid the bill for the dycalculia convention, $750 (Check #1004) Sold professional services for cash, $2,575 Paid on account to Eastman Office Supply. $300 (Check #10OS) Paid the rent for the current month, $1.200 (Check #1006)

Lewis deposited $50,000 in a bank account in the name of the business on 1/5/21 Bought waiting room chairs and tables on account, $1,250 Bought a fax/copier/scanner combination from Office Depot for $595, paying $200 in cash and placing the balance on account theck #1001) Bought an intercom system on account from Eastman Office Supply, $375 Received and paid the telephone bill, $250 (Check #1002) Sold professional services on account, $1,484 Received and paid the electric bill, $225 (Check a1003) Received and paid the bill for the dycalculia convention, $750 (Check #1004) Sold professional services for cash, $2,575 Paid on account to Eastman Office Supply. $300 (Check #10OS) Paid the rent for the current month, $1.200 (Check #1006)

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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: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.
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
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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