presentation

Chapter 1-1

Chapter 1-2

GOODGOOD

MORNINGMORNING

Chapter 1-3

Welcome all of you from the “ANGEL” group

Chapter 1-4

Presentation on Presentation on tabular analysis tabular analysis of CINDY of CINDY BELTON’S law BELTON’S law office of the office of the August August transactions transactions beginning with beginning with July 31 July 31 balances.balances.

Chapter 1-5

P1-2B:P1-2B: Cindy Belton opened a law office, Cindy Belton, Attorney at Law, on July 1, 2008. On July 31, the balance sheet showed Cash $4000, Accounts Receivable $1,500, Supplies $500, Office Equipment $5,000, Accounts Payable $4,200, and Cindy Belton, Capital $6,800. During August the following transactions occurred.

Transactions (Problem)Transactions (Problem)Transactions (Problem)Transactions (Problem)

+1400 -1400

CashAccounts

ReceivableOffice

EquipmentNotes

PayableCindy

Belton, Capital

+ = +

1. Collected $1,400 of accounts receivable.

Investment

Assets Liabilities Equity

Supplies ++Accounts Payable +

Chapter 1-6

2. Paid $2,700 cash on accounts payable.

CashAccounts

ReceivableOffice

EquipmentNotes

PayableCindy

Belton, Capital

+ = +

Assets Liabilities Equity

Supplies ++Accounts Payable +

Transactions (Problem)Transactions (Problem)Transactions (Problem)Transactions (Problem)

+1,400

-2,700 -2,700

Investment-1,400

Chapter 1-7

Transactions (Problem)Transactions (Problem)Transactions (Problem)Transactions (Problem)3. Earned revenue of $9,000 of which $3,000 is collected in cash and the balance is due in September.

CashAccounts

ReceivableOffice

EquipmentNotes

PayableCindy

Belton, Capital

+ = +

Assets Liabilities Equity

Supplies ++

Accounts Payable +

+1,400

-2,700 -2,700

+3,000 +9000 Revenue

Investment-1,400

+6,000

Chapter 1-8

Transactions (Problem)Transactions (Problem)Transactions (Problem)Transactions (Problem)4. Purchased additional office equipment for $1,000, paying $400 in cash and the balance on account .

CashAccounts

ReceivableOffice

EquipmentNotes

PayableCindy

Belton, Capital

+ = +

Assets Liabilities Equity

Supplies ++

Accounts Payable +

+1,400

-2,700-2,700

+3,000+9000 Revenue

-400+600

Investment-1,400

+6,000

+1,000

Chapter 1-9

Transactions (Problem)Transactions (Problem)Transactions (Problem)Transactions (Problem)

5. Paid salaries $3,000, rent for August $900 and advertising expenses $350.

CashAccounts

ReceivableOffice

EquipmentNotes

PayableCindy

Belton, Capital

+ = +

Assets Liabilities Equity

Supplies ++

Accounts Payable +

+1,400

-2,700 -2,700

+3,000 +9000 Revenue

-400 +600-3,000 Expense

Investment-1,400

+6,000

+1,000

-900-350

-3,000-900-350

Expense

Expense

Chapter 1-10

Transactions (Problem)Transactions (Problem)Transactions (Problem)Transactions (Problem)6. Withdrew $750 in cash for personal use.

CashAccounts

ReceivableOffice

EquipmentNotes

PayableCindy

Belton, Capital

+ = +

Assets Liabilities Equity

Supplies ++

Accounts Payable +

+1,400

-2,700 -2,700

+3,000 +9000 Revenue

-400 +600-3,000 Expense

-750 -750 Drawings

Investment-1,400

+6,000

+1,000

-900-350

-3,000-900-350

Expense

Expense

Chapter 1-11

Transactions (Problem)Transactions (Problem)Transactions (Problem)Transactions (Problem)7. Received $2,000 from Standard Federal Bank-money borrowed on a note payable.

CashAccounts

ReceivableOffice

EquipmentNotes

PayableCindy

Belton, Capital

+ = +

Assets Liabilities Equity

Supplies ++Accounts Payable +

+1,400

-2,700 -2,700

+3,000 +9000 Revenue

-400 +600-3,000 Expense

-750 -750 Drawings

+2000 +2000

Investment-1,400

+6,000

+1,000

-900-350

-3,000-900-350

Expense

Expense

Chapter 1-12

Transactions (Problem)Transactions (Problem)Transactions (Problem)Transactions (Problem)8. Incurred utility expenses for month on account $250.

CashAccounts

ReceivableOffice

EquipmentNotes

PayableCindy

Belton, Capital

+ = +

Assets Liabilities Equity

Supplies ++Accounts Payable +

6,820 + 630 + 5,000 = 250 + 12,200

+1,400

-2,700 -2,700

+3,000 +9000 Revenue

-400 +600-3,000 Expense

-750 -750 Drawings

+2000 +2000Expense

Investment

+250 -250

-1,400

+6,000

+1,000

-900-350

-3,000-900-350

Expense

Expense