9. Cary Parsons, Capital 10. Cary Parsons, Drawing 11. Fees Earned 12. Wages Expense 13. Rent Expense 14. Utilities Expense 15. Truck Expense 16. Miscellaneous Expense 17. Insurance Expense Transactions Account(s) Debited Account(s) Credited a. Purchased supplies for cash. b. Paid the annual premiums on property and casualty insurance. c. Received cash for a job previously recorded on account. d. Paid a creditor a portion of the amount owed for equipment previously purchased on account. e. Received cash for a completed job. Transactions Account(s) Debited Account(s) Credited a. 3 1 b. 4 1 c. 1 2 d. 8 1 e. 1 11 205. On January 1, 2010, Cary Parsons established a catering service. Listed below are accounts to use for transactions (a) through (f), each identified by a number. Following this list are the transactions that occurred in Parsons’ first month of operation. You are to indicate for each transaction the accounts that should be debited and credited by placing the account number(s) in the appropriate box. 1. Cash 2. Accounts Receivable 3. Supplies 4. Prepaid Insurance 5. Equipment 6. Truck 7. Notes Payable 8. Accounts Payable 9. Cary Parsons, Capital 10. Cary Parsons, Drawing 11. Fees Earned 12. Expense 13. Rent Expense 14. Utilities Expense 15. Truck Expense 16. Miscellaneous Expense 17. Insurance Expense Transactions Account(s) Debited Account(s) Credited
9. Cary Parsons, Capital 10. Cary Parsons, Drawing 11. Fees Earned 12. Wages Expense 13. Rent Expense 14. Utilities Expense 15. Truck Expense 16. Miscellaneous Expense 17. Insurance Expense Transactions Account(s) Debited Account(s) Credited a. Purchased supplies for cash. b. Paid the annual premiums on property and casualty insurance. c. Received cash for a job previously recorded on account. d. Paid a creditor a portion of the amount owed for equipment previously purchased on account. e. Received cash for a completed job. Transactions Account(s) Debited Account(s) Credited a. 3 1 b. 4 1 c. 1 2 d. 8 1 e. 1 11 205. On January 1, 2010, Cary Parsons established a catering service. Listed below are accounts to use for transactions (a) through (f), each identified by a number. Following this list are the transactions that occurred in Parsons’ first month of operation. You are to indicate for each transaction the accounts that should be debited and credited by placing the account number(s) in the appropriate box. 1. Cash 2. Accounts Receivable 3. Supplies 4. Prepaid Insurance 5. Equipment 6. Truck 7. Notes Payable 8. Accounts Payable 9. Cary Parsons, Capital 10. Cary Parsons, Drawing 11. Fees Earned 12. Expense 13. Rent Expense 14. Utilities Expense 15. Truck Expense 16. Miscellaneous Expense 17. Insurance Expense Transactions Account(s) Debited Account(s) Credited
Analyzing%20Transactions.docx