The Expanded Accounting Equation ______ ASSETS = LIABILITIES + Owner’s EQUITY Prepaid Accts. Pay./ B. Trevino, Cash + Supplies + Insurance = Ling Music.

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The Expanded Accounting Equation ______ ASSETS = LIABILITIES + Owner’s EQUITY Prepaid Accts. Pay./ B. Trevino, Cash + Supplies + Insurance = Ling Music Sup. + Capital____ $0 + $0 + $0 = $0 + $0 Bal. +10, ,000__(1) $10, = 0 + $10,000 Bal. - 1,577 +1,577___(2) 8, , = ,000 Bal. _- 1,200 +1,200__________________________________ (3) 7, , ,200 = ,000 Bal. _____________+2,720 +2,720____________________ (4) 7, , ,200 = 2, ,000 Bal. - 1, ,360____________________(5) $5,863 + $4,297 + $1,200 = $1,360 + $10,000 Bal. Transactions: (1) Received cash from owner as an investment, $10,000 (2) Paid cash for supplies, $1,577 (3) Paid cash for insurance, $1,200 (4) Bought supplies on account from Ling Music Supplies, $2,720 (5) Paid cash on account to Ling Music Supplies, $1,360

The Expanded Accounting Equation ______ ASSETS = LIABILITIES + Owner’s EQUITY Prepaid Accts. Pay./ B. Trevino, Cash + Supplies + Insurance = Ling Music Sup. + Capital_ $0 + $0 + $0 = $0 + $0 Bal. +10, ,000__ (1) $10, = 0 + $10,000 Bal. - 1,577 +1,577____(2) 8, , = ,000 Bal. - 1,200 +1,200________________________________ (3) 7, , ,200 = ,000 Bal. ____________+2,720 +2,720________________ (4) 7, , ,200 = 2, ,000 Bal. - 1, ,360________________ (5) $5,863 + $4,297 + $1,200 = $1,360 + $10,000 Bal.

AP1-2 Expanded Accounting Equation ______ ASSETS = LIABILITIES + Owner’s EQUITY Prepaid AP/ AP/ Frank Mori, Cash + Supplies + Insurance = Swan’s + York + Capital____ $0 + $0 + $0 = $0 + $0 + $0 Bal. + 2,000 +2,000__(1) $ 2, = $ 2,000 Bal ___(2) 1, = ,000 Bal. _ ____________ +100________________________ (3) 1, = ,000 Bal. _____________ ________________ (4) 1, = ,000 Bal ________________________(5) 1, = ,000 Bal. __ ________________ (6) 1, = ,000 Bal. __ _____________________________________________ (7) , = ,000 Bal (8) $1,000 + $1,100 + $600 = $0 + $200 + $2,500 Bal. Transactions: (1) Received cash from owner as an investment, $2,000 (2) Paid cash for insurance, $600 (3) Bought supplies on account from Swan’s Supply Company, $100 (4) Bought supplies on account from York Company, $500 (5) Paid cash on account to Swan’s Supply Company, $100 (6) Paid cash on account to York Company, $300 (7) Paid cash for supplies, $500 (8) Received cash from owner as an investment, $500