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  • Accounting: Asset Liabilities + Capital Explanation

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    Maruf Ahmed
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    This document summarizes transactions for Matrix Travel Agency. It shows changes in assets, liabilities, and owner's equity through 10 transactions. Transaction 1 was an investment of $15,000 cash. Expenses were paid through subsequent transactions, reducing cash. Revenue and borrowing increased cash and owner's equity. The net effect of all transactions was to increase total assets and owner's equity to $26,000.

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    Accounting

    Original Title

    Accounting

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    This document summarizes transactions for Matrix Travel Agency. It shows changes in assets, liabilities, and owner's equity through 10 transactions. Transaction 1 was an investment of $15,000 cash. Expenses were paid through subsequent transactions, reducing cash. Revenue and borrowing increased cash and owner's equity. The net effect of all transactions was to increase total assets and owner's equity to $26,000.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    31 views3 pages

    Accounting: Asset Liabilities + Capital Explanation

    Uploaded by

    Maruf Ahmed
    This document summarizes transactions for Matrix Travel Agency. It shows changes in assets, liabilities, and owner's equity through 10 transactions. Transaction 1 was an investment of $15,000 cash. Expenses were paid through subsequent transactions, reducing cash. Revenue and borrowing increased cash and owner's equity. The net effect of all transactions was to increase total assets and owner's equity to $26,000.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    of 3

    ACCOUNTING

    P1-1B
    Matrix travel agency
    Summery of the transaction(tabular formet)

    Asset
    Transection
    No

    Cash

    +15,000

    -600

    +3,000

    Equipm
    ent

    Supplies

    Liabilities
    Account
    receivabl
    e

    -800

    +3000

    -500

    -700

    -22,00

    10

    +4,000

    1|P age

    Explanation

    capital
    +15,000

    Investment

    -600

    Rent exp.

    +700

    -700

    Adv. exp

    +800
    +8000

    11,000

    =
    =
    =
    =
    26,000

    Notes
    payable

    Owners
    equity

    -3,000

    Account
    payable

    Balance

    -500
    -700
    -22,00
    +4,000
    26000

    P1-2B
    Cindy Belton
    Summary of the transection (tabular format)
    Asset
    Transection
    No

    Cash
    5000

    1200

    -2800

    3000

    -400

    -3800

    -700

    1500

    Account
    Equipment Supplies
    receivable
    6000
    500
    1500
    -1200

    2|P age

    = Account
    payable
    4200

    5000
    2000

    Notes
    payable

    Explanation

    -2800

    =
    =

    8000

    -2500
    -900
    -400

    =
    =
    =

    Service
    revenue

    1600

    16,800

    Capital
    8800

    =
    =

    8
    Old
    Balance

    Liabilities + Owners equity

    Salary exp.
    Rent exp
    Adv.exp.

    -700

    drawings

    -220

    Utility exp.

    1500
    220

    16,800

    P1-4B
    Geller consultancy
    Summery of the transaction(tabular formet)

    Asset
    Transection
    No

    Cash

    Equipm
    ent

    Supplies

    Liabilities
    Account
    receivabl
    e

    Account
    payable

    +
    Notes
    payable

    Owners
    equity

    Explanation

    capital

    7000

    7000

    Investment

    -900

    -900

    Rent exp

    600

    600

    -125

    -125

    Adv exp

    4000

    4000

    Service exp

    12

    -1000

    -1000

    drawing

    6400

    Service
    revenue
    Salary exp

    15

    6400

    17

    -2500

    -2500

    20

    -600

    -600

    23

    4000

    26

    5000

    29
    30

    Balance

    3|P age

    Service
    revenue

    -4000

    Borrowing

    5000
    3100

    -175

    3100
    -175

    20,800

    20,800

    Utility exp

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