1. Accounting I/II Chapter 2, Section 2

2.  What accounts are affected?  How is each account classified?  How is each classification changed?  Increased or decreased?  How is each amount entered in the accounts?  Debit or credit?

3.  What accounts are affected?  How is each account classified?  How is each classification changed?  How is each amount entered in the accounts? Cash Kim Park, Capital AssetOwner’s Equity 5000.00 Debit Credit Debit Credit 5000.00

4.  What accounts are affected?  How is each account classified?  How is each classification changed?  How is each amount entered in the accounts? Supplies Cash Asset 275.00 Debit Credit Debit Credit 275.00

5.  What accounts are affected?  How is each account classified?  How is each classification changed?  How is each amount entered in the accounts? Prepaid Insurance Cash Asset 1200.00 Debit Credit Debit Credit 1200.00

6.  What accounts are affected?  How is each account classified?  How is each classification changed?  How is each amount entered in the accounts? Supplies Accounts Payable, Supply Depot Asset Liability 500.00 Debit Credit Debit Credit 500.00

7.  What accounts are affected?  How is each account classified?  How is each classification changed?  How is each amount entered in the accounts? Accts. Pay—Supply Depot Cash Liability Asset 300.00 Debit Credit Debit Credit 300.00

8. 2-2 Work Together and On Your Own 2-2 Application Problem