Ch03 Orders And Trial Balance 1

 Ch03 Transactions And Trial Balance 1 Essay

3-1

THE ACCOUNTING

DETAILS

SYSTEM

3-2

Financial Accounting, Seventh Release

3

Accounting

Accounting Transactions

Transactions

Event (1). In October 1, cash of $10, 000 is invested in Sierra Corporation by simply investors in return for $12, 000 of common inventory.

1 . +10, 000

3-3

+10, 000

LO 1 Analyze the result of business transactions on the basic accounting equation.

Accounting

Accounting Ventures

Transactions

Function (2). On October 1, Sierra took out $5, 500 from Castle Bank by signing a 3-month, 12%, $5, 1000 note payable.

1 . +10, 000

installment payments on your +5, 500

3-4

+10, 000

+5, 000

LO 1 Evaluate the effect of business ventures on the fundamental accounting formula.

Accounting

Accounting Transactions

Ventures

Event (3). On March 2, Sierra purchased gear by paying $5, 1000 cash to Superior Equipment Sales Company.

1 . +10, 000

2 . +5, 000

3. -5, 000

3-5

+10, 000

+5, 1000

+5, 000

LO one particular Analyze the effect of organization transactions within the basic accounting equation.

Accounting

Accounting Transactions

Transactions

Event (4). In October two, Sierra received a $1, 200 advance loan from L. Knox, a customer.

1 . +10, 000

2 . +5, 1000

3. -5, 000

5. +1, two hundred

3-6

+10, 000

+5, 000

+5, 000

+1, 200

LO 1 Examine the effect of business orders on the basic accounting formula.

Accounting

Accounting Transactions

Orders

Event (5). On Oct 3, Macizo received $10,50, 000 in cash coming from Copa Business for guidebook services performed.

1 . +10, 000

2 . +5, 000

3. -5, 000

some. +1, two hundred

5. +10, 000

3-7

+10, 500

+5, 000

+5, 1000

+1, 200

+10, 000

LO you Analyze the effect of business transactions within the basic accounting equation.

Accounting

Accounting Deals

Transactions

Event (6). On October three or more, Sierra Company paid their office lease for the month of October in cash, $900.

1 . +10, 000

2 . +5, 500

3. -5, 000

four. +1, two hundred

5. +10, 000

6.

3-8

-900

+10, 000

+5, 500

+5, 500

+1, 2 hundred

+10, 000

-900

LO 1 Evaluate the effect of business orders on the simple accounting formula.

Accounting

Accounting Transactions

Deals

Event (7). On August 4, Sierra paid $600 for a one-year insurance policy which will expire the coming year on September 30.

1 ) +10, 1000

+10, 000

2 . +5, 000

several. -5, 500

+5, 000

+5, 500

4. plus1, 200

plus1, 200

five. +10, 1000

6.

-900

7.

-600

3-9

+10, 000

-900

+600

LO 1 Evaluate the effect of business deals on the simple accounting formula.

Accounting

Accounting Transactions

Transactions

Event (8). On Oct 5, Macizo purchased an estimated three months of supplies upon account by Aero Supply for $2, 500.

1 ) +10, 1000

+10, 000

2 . +5, 000

several. -5, 000

+5, 1000

+5, 000

4. plus one, 200

plus one, 200

your five. +10, 000

6.

-900

7.

-600

+10, 1000

-900

+600

8.

+2, 500

+2, 500

3-10

LO one particular Analyze the result of organization transactions around the basic accounting equation.

Accounting

Accounting Deals

Transactions

Celebration (9). Upon October 9, Sierra appointed four new employees to begin work on October 15.

1 . +10, 500

+10, 000

2 . +5, 000

three or more. -5, 000

+5, 000

+5, 1000

4. plus1, 200

plus1, 200

5. +10, 500

6.

-900

7.

-600

8.

+10, 000

-900

+600

+2, 500

+2, 500

A great accounting purchase has not happened.

3-11

LO 1 Examine the effect of business transactions on the basic accounting formula.

Accounting

Accounting Transactions

Orders

Event (10). On March 20, Sierra paid a $500 dividend.

1 . +10, 000

+10, 000

installment payments on your +5, 1000

3. -5, 000

+5, 000

+5, 000

four. +1, 200

+1, 2 hundred

5. +10, 000

six.

-900

several.

-600

almost eight.

10.

3-12

+10, 1000

-900

+600

+2, 500

-500

+2, 500

-500

LO 1 Analyze the result of organization transactions for the basic accounting equation.

Accounting

Accounting Ventures

Transactions

Function (11). Staff have worked 2 weeks, earning $4, 000 in salaries, that have been paid on October 26.

1 . +10, 000

+10, 000

2 . +5, 000

3....

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