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On January 1, Merry Walker and Other Stockholders Established a Catering

Question 149

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On January 1, Merry Walker and other stockholders established a catering service. Listed below are accounts to use for transactions a through e, each identified by a number. Following this list are the transactions that occurred in Walker’s first month of operation. You are to indicate for each transaction the accounts that should be debited and credited by placing the account numbers in the appropriate box.
1. Cash
2. Accounts Receivable
3. Supplies
4. Prepaid Insurance
5. Equipment
6. Truck
7. Notes Payable
8. Accounts Payable
9. Common Stock
10. Dividends
11. Fees Earned
12. Wages Expense
13. Rent Expense
14. Utilities Expense
15. Truck Expense
16. Miscellaneous Expense
17. Insurance Expense
On January 1, Merry Walker and other stockholders established a catering service. Listed below are accounts to use for transactions a through e, each identified by a number. Following this list are the transactions that occurred in Walker’s first month of operation. You are to indicate for each transaction the accounts that should be debited and credited by placing the account numbers in the appropriate box. 1. Cash 2. Accounts Receivable 3. Supplies 4. Prepaid Insurance 5. Equipment 6. Truck 7. Notes Payable 8. Accounts Payable 9. Common Stock 10. Dividends 11. Fees Earned 12. Wages Expense 13. Rent Expense 14. Utilities Expense 15. Truck Expense 16. Miscellaneous Expense 17. Insurance Expense

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