Received cash from owner, Roger Fisher, as an investment, $10,000.00. d. Paid cash for insurance, $2,400.00. e. Brought supplies on account from Boats Wholesale, $1,500.00. f. Sold services on account to Salmon Slayers, $600.00. g. Paid cash for fuel, $500.00 h. Paid cash to owner, Roger Fisher, for personal use, $1,250.00.

Century 21 Accounting General Journal
11th Edition
ISBN:9781337680059
Author:Gilbertson
Publisher:Gilbertson
Chapter2: Analyzing Transactions Into Debit And Credit Parts
Section2.3: Analyzing How Transactions Affect Owner’s Equity Accounts
Problem 1WT
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c. Received cash from owner, Roger Fisher, as an investment, $10,000.00. d. Paid cash for insurance, $2,400.00. e. Brought supplies on account from Boats Wholesale, $1,500.00. f. Sold services on account to Salmon Slayers, $600.00. g. Paid cash for fuel, $500.00 h. Paid cash to owner, Roger Fisher, for personal use, $1,250.00.
1. Create a chart of accounts for Roger Fisher, who owns Fisher's Boat Rentals. Arrange the accounts
receivable, accounts payable, and expense accounts in alphabetical order. Assign the appropriate 3-
digit account number to each account and place them under the correct headings. Initially number the
accounts by 10.
Roger Fisher, Drawing
Cash
Accounts Payable - U.S. Fuel Services
Accounts Receivable - Salmon Slayers
Supplies
Insurance
Rent Expense
Answer:
Type your answer here.
Fuel Expense
Roger Fisher, Capital
Sales
Advertising Expense
Accounts Payable - Boats Wholesale
Insurance Expense
Transcribed Image Text:1. Create a chart of accounts for Roger Fisher, who owns Fisher's Boat Rentals. Arrange the accounts receivable, accounts payable, and expense accounts in alphabetical order. Assign the appropriate 3- digit account number to each account and place them under the correct headings. Initially number the accounts by 10. Roger Fisher, Drawing Cash Accounts Payable - U.S. Fuel Services Accounts Receivable - Salmon Slayers Supplies Insurance Rent Expense Answer: Type your answer here. Fuel Expense Roger Fisher, Capital Sales Advertising Expense Accounts Payable - Boats Wholesale Insurance Expense
2. Add two new expense accounts to the chart of accounts you prepared. Assign each account numbers
based on where they would be placed in the chart of accounts.
Miscellaneous Expense
Utilities Expense
Answer.
Type your answer here.
Transcribed Image Text:2. Add two new expense accounts to the chart of accounts you prepared. Assign each account numbers based on where they would be placed in the chart of accounts. Miscellaneous Expense Utilities Expense Answer. Type your answer here.
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