Problem 2-5 Group 1 Nairi Anida Southyda Luke Alex.

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Presentation transcript:

Problem 2-5 Group 1 Nairi Anida Southyda Luke Alex

Debit Credit a. Cash (+A) 30, Contributed Capital (+SE) 30, b. Cash (+A) 50, Long Term Liabilities (+L) 50, c. Rent Expense (+E, -SE) 2, Prepaid Expense (+A) 2, Cash (-A) 4, d. Prepaid expense (+A) 2, Cash (-A) 2,400.00

Debit Credit e. Furniture and Fixtures (+A) 25, Accounts Payable (+L) 25, f. Inventory (+A) 2, Cash (-A) 2, g. Advertising Expense (+E, -SE) Cash (-A) h. Cost of Sales (+E, -SE) Inventory (-A) h. Accounts Receivable (+A) Sales Revenue (+R, +SE)

Debit Credit h. Cash (+A) Sales Revenue (+R, +SE) i. Accounts Payable (-L) 25, Cash (-A) 25, j. Cash (+A) Accounts Receivable (-A)