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    Entries T-Accounts Date Description DR CR Bank/Cash

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    Qasim Farooq
    1. On September 1st, $50,000 cash was deposited into the bank/cash account from capital. 2. On September 10th, land and buildings worth $183,400 were purchased by paying $36,500 cash and taking out a $145,900 note payable. 3. Various other transactions occurred through September 30th involving the purchase of computer systems, office furnishings, and the payment and collection of accounts payable and receivable.

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    Entries T-Accounts Date Description DR CR Bank/Cash

    Uploaded by

    Qasim Farooq
    4 views3 pages
    1. On September 1st, $50,000 cash was deposited into the bank/cash account from capital. 2. On September 10th, land and buildings worth $183,400 were purchased by paying $36,500 cash and taking out a $145,900 note payable. 3. Various other transactions occurred through September 30th involving the purchase of computer systems, office furnishings, and the payment and collection of accounts payable and receivable.

    Original Description:

    Solution of worksheet 2

    Original Title

    Solution Worksheet 2

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    1. On September 1st, $50,000 cash was deposited into the bank/cash account from capital. 2. On September 10th, land and buildings worth $183,400 were purchased by paying $36,500 cash and taking out a $145,900 note payable. 3. Various other transactions occurred through September 30th involving the purchase of computer systems, office furnishings, and the payment and collection of accounts payable and receivable.

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

    Entries T-Accounts Date Description DR CR Bank/Cash

    Uploaded by

    Qasim Farooq
    1. On September 1st, $50,000 cash was deposited into the bank/cash account from capital. 2. On September 10th, land and buildings worth $183,400 were purchased by paying $36,500 cash and taking out a $145,900 note payable. 3. Various other transactions occurred through September 30th involving the purchase of computer systems, office furnishings, and the payment and collection of accounts payable and receivable.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as xlsx, pdf, or txt
    of 3

    Entries

    Date

    Description

    1-Sep Bank/Cash
    Capital
    10-Sep Land & Buildings
    Cash
    Notes payable
    15-Sep Microcomputer systems
    Cash
    19-Sep Office furnishings
    Cash
    Accounts payable
    26-Sep Accounts receivable
    Microcomputer systems
    28-Sep Accounts payable
    Cash

    Dr

    Cr
    50000
    50000

    1-Sep
    30-Sep

    182400
    36500
    145900
    4680
    4680
    10-Sep
    10-Sep

    5760
    960
    4800
    140

    Mi
    15-Sep

    140
    1600

    A
    1600
    26-Sep

    30-Sep Cash
    Accounts Receivable

    140
    140

    T-Accounts

    Bank/Cash
    Capital
    A/c Rec

    50000 10-Sep
    140 15-Sep
    19-Sep
    28-Sep

    Capital
    L&B
    MCS
    Off. Furn.
    A/c payab

    36500
    4680
    960
    1600

    Land & Buildings


    Cash
    Notes pay

    Notes Paya

    36500
    145900

    Microcomputer Systems
    Cash

    4680 26-Sep

    Office Furnis

    A/c rec

    140

    19-Sep
    19-Sep

    Cash
    A'c payab

    Accounts Receivable
    MCS

    140 30-Sep

    Accounts Pay
    Cash

    140

    28-Sep

    Cash

    Capital
    1-Sep

    Bank/cash

    50000

    Notes Payable
    10-Sep

    L&B

    145900

    Office Furnishings
    960
    4800
    Accounts Payable
    1600 19-Sep

    Off. Furn.

    4800

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