Several transactions occurred in March. Each is describedseparately in this folder. For each transaction, indicate theCOMPANY accounts that are affected, whether they increase ordecrease, and the amount of the increase or decrease.
After each transaction description, there are several "Account"submission boxes and corresponding "Amount" submission boxes. Toindicate the accounts that you think are affected, choose them fromthe drop-down menu. But you MUST select them in the order that theyare listed in the menu. FOR EXAMPLE, if you think that Cash andInventory are affected by a particular transaction, you must recordthe Cash impact first and the Inventory impact second because thatis the order that they are listed in the drop-down menu. If yourecord the Inventory impact first and the Cash impact second, evenif they are the correct accounts and even if you have the correctdollar amounts, your answer will be considered wrong.
When you record the dollar amounts, be sure to use a minus signto indicate a decrease in the account. You don't need to use a plussign to indicate an increase.
Options for account: Cash, accounts receivable, inventory,prepaid rent, fixtures and equipment, accounts payable, interestpayable, wages payable, notes payable, paid in capital, retainedearnings, leave blank
Transaction 4
Website advertising was purchased for $4,000. They were able to geta good deal because one of the company's owners also owns stock inthe website company. The company also paid $7,000 for someadvertising in local newspapers. [Note: Combineboth transactions into one entry].
Account: Dollar Amount:
Account: Dollar Amount:
Account: Dollar Amount:
Account: Dollar Amount
Account: Dollar Amount
Several transactions occurred in March. Each is describedseparately in this folder. For each transaction, indicate theCOMPANY accounts that are affected, whether they increase ordecrease, and the amount of the increase or decrease.
After each transaction description, there are several "Account"submission boxes and corresponding "Amount" submission boxes. Toindicate the accounts that you think are affected, choose them fromthe drop-down menu. But you MUST select them in the order that theyare listed in the menu. FOR EXAMPLE, if you think that Cash andInventory are affected by a particular transaction, you must recordthe Cash impact first and the Inventory impact second because thatis the order that they are listed in the drop-down menu. If yourecord the Inventory impact first and the Cash impact second, evenif they are the correct accounts and even if you have the correctdollar amounts, your answer will be considered wrong.
When you record the dollar amounts, be sure to use a minus signto indicate a decrease in the account. You don't need to use a plussign to indicate an increase.
Options for account: Cash, accounts receivable, inventory,prepaid rent, fixtures and equipment, accounts payable, interestpayable, wages payable, notes payable, paid in capital, retainedearnings, leave blank
Transaction 4
Website advertising was purchased for $4,000. They were able to geta good deal because one of the company's owners also owns stock inthe website company. The company also paid $7,000 for someadvertising in local newspapers. [Note: Combineboth transactions into one entry].
Account: Dollar Amount:
Account: Dollar Amount:
Account: Dollar Amount:
Account: Dollar Amount
Account: Dollar Amount
