Gardens Plus uses the listed accounts. The T accounts have been prepared for you. Analyze each transaction into its debit and credit parts. Enter the debit and credit amounts in the proper T accounts to show how each transaction changes account balances. Enter the date of the transactions before each amount. (Hint: You must enter the transactions in the order in which they are listed.)
account titles:
Cash | |
Accounts Receivable-Lee Chen | |
Accounts Receivable-Ginger McCure | |
Supplies | |
Prepaid Insurance | |
Accounts Payable-West End Supplies | |
Accounts Payable-Bellville Supplies | |
Simon Dirks, Capital | |
Simon Dirks, Drawing | |
Sales | |
Advertising Expense | |
Miscellaneous Expense | |
Rent Expense | |
Repair Expense | |
Utilities Expense |
transactions:
May | 1. | Received cash from owner as an investment, $3,700.00. |
2. | Paid cash for rent, $600.00. | |
4. | Paid cash for supplies, $400.00. | |
4. | Received cash from sales, $950.00. | |
5. | Paid cash for insurance, $375.00. | |
8. | Sold services on account to Lee Chen, $800.00. | |
9. | Bought supplies on account from Bellville Supplies, $300.00. | |
10. | Paid cash for repairs, $85.00. | |
11. | Received cash from owner as an investment, $2,900.00. | |
11. | Received cash from sales, $1,000.00. | |
12. | Bought supplies on account from West End Supplies, $230.00. | |
13. | Received cash on account from Lee Chen, $650.00. | |
15. | Paid cash for miscellaneous expense, $35.00. | |
16. | Paid cash on account to Bellville Supplies, $60.00. | |
22. | Paid cash for electric bill (utilities expense), $65.00. | |
23. | Paid cash for advertising, $105.00. | |
25. | Sold services on account to Ginger McCure, $550.00. | |
26. | Paid cash to owner for personal use, $500.00. | |
30. | Received cash on account from Ginger McCure, $300.00. |
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