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Purchase of assets in cash 1. Purchased merchandise and paid $2,000 in cash. Repayment of liabilities in cash 2. Repaid $7,000 of bank loans 3. Paid $3,000 accounts payable 4. Payment of expenses in cash 3. Paid $3,500 rent expense 3b. Paid $6,000 salaries expense cash receipt transactions 4.
Purchase of assets in cash 1. Purchased merchandise and paid $2,000 in cash. Repayment of liabilities in cash 2. Repaid $7,000 of bank loans 3. Paid $3,000 accounts payable 4. Payment of expenses in cash 3. Paid $3,500 rent expense 3b. Paid $6,000 salaries expense cash receipt transactions 4.
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Purchase of assets in cash 1. Purchased merchandise and paid $2,000 in cash. Repayment of liabilities in cash 2. Repaid $7,000 of bank loans 3. Paid $3,000 accounts payable 4. Payment of expenses in cash 3. Paid $3,500 rent expense 3b. Paid $6,000 salaries expense cash receipt transactions 4.
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Attribution Non-Commercial (BY-NC)
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Скачайте в формате DOCX, PDF, TXT или читайте онлайн в Scribd
1. Purchase of assets in cash 2. Repayment of liabilities in cash 3. Payment of expenses in cash
* Cash receipt transactions 4. Sale of assets in cash 5. Borrowing money 6. Issuance of stock
* Cash payment transactions 1. Purchase of assets in cash 1a. Purchased merchandise and paid $2,000 in cash 1b. Purchased an equipment and paid $15,000 in cash
2. Repayment of liabilities in cash 2a. Repaid $7,000 of bank loans 2b. Paid $3,000 accounts payable
3. Payment of expenses in cash 3a. Paid $3,500 rent expense 3b. Paid $6,000 salaries expense
* Cash receipt transactions 4. Sale of assets in cash 4a. Sold merchandise and received $6,500 in cash The cost of merchandise sold was 5,100 4b. Sold an equipment and received $8,600 in cash The book value of the equipment was $8,000
5. Borrowing money 5a. Borrowed $9,000 in cash 5b. Issued a promissory note and received $11,000 in cash
6. Issuance of stock 6a. Issued 500 shares of common stock, at $50 per share 6b. Issued 200 shares of preferred stock, at $80 per share
ash payment transactions
1. Purchase of assets in cash 1a. Purchased merchandise and paid $2,000 in cash debit credit merchandise 2,000 cash 2,000 debit: increase in assets (merchandise) credit: decrease in assets (cash) 1b. Purchased an equipment and paid $15,000 in cash debit credit equipment 15,000 cash 15,000 debit: increase in assets (equipment) credit: decrease in assets (cash) . Repayment of liabilities in cash 2a. Repaid $7,000 of bank loans debit credit borrowings 7,000 cash 7,000 debit: decrease in liabilities (borrowings) credit: decrease in assets (cash) 2b. Paid $3,000 accounts payable debit credit accounts payable 3,000 cash 3,000 debit: decrease in liabilities (accounts payable) credit: decrease in assets (cash) . Payment of expenses in cash 3a. Paid $3,500 rent expense debit credit rent expense 3,500 cash 3,500 debit: increase in expenses (rent expense) credit: decrease in assets (cash) 3b. Paid $6,000 salaries expense debit credit salaries expense 6,000 cash 6,000 debit: increase in expenses (salaries expense) credit: decrease in assets (cash)
ash receipt transactions 4. Sale of assets in cash 4a. Sold merchandise and received $6,500 in cash debit credit cash 6,500 sales 6,500 debit: increase in assets (cash) credit: increase in revenue (sales) The cost of merchandise sold was 5,100 debit credit cost of goods sold 5,100 merchandise 5,100 debit: increase in assets (cash) credit: increase in revenue (sales) 4b. Sold an equipment and received $8,600 in cash The book value of the equipment was $8,000 debit credit cash 8,600 equipment 8,000 gain on sale of equipment 600 debit: increase in assets (cash) credit: increase in revenue (sales) . Borrowing money 5a. Borrowed $9,000 in cash debit credit cash 9,000 borrowings 9,000 debit: increase in assets (cash) credit: increase in liabilities (borrowings) 5b. Issued a promissory note and received $11,000 in cash debit credit cash 11,000 notes payable 11,000 debit: increase in assets (cash) credit: increase in liabilities (notes payable) . Issuance of stock 6a. Issued 500 shares of common stock, at $50 per share debit credit cash 25,000 Common stock 25,000 debit: increase in assets (cash) credit: increase in equity (common stock) 6b. Issued 200 shares of preferred stock, at $80 per share debit credit cash 16,000 Preferred stock 16,000 debit: increase in assets (cash) credit: increase in equity (preferred stock)
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