Solved

On January 1, 2010, Cary Parsons Established a Catering Service

Question 39

Essay

On January 1, 2010, Cary Parsons established a catering service. Listed below are accounts to use for transactions (a) through (d), each identified by a number. Following this list are the transactions that occurred during the first month of operations. You are to indicate for each transaction the accounts that should be debited and credited by placing the account number(s) 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. Cary Parsons, Capital 10. Cary Parsons, Drawing 11. Fees Earned 12. Wages Expense 13. Rent Expense 14. Utilities Expense 15. Truck Expense 16. Miscellaneous Expense \begin{array}{|l|l|}\hline 1 . & \text { Cash } ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~\\\hline 2 . & \text { Accounts Receivable } \\\hline 3 . & \text { Supplies } \\\hline 4 . & \text { Prepaid Insurance } \\\hline 5 . & \text { Equipment } \\\hline 6 . & \text { Truck } \\\hline 7 . & \text { Notes Payable } \\\hline 8 . & \text { Accounts Payable } \\\hline 9 . & \text { Cary Parsons, Capital } \\\hline 10 . & \text { Cary Parsons, Drawing } \\\hline 11 . & \text { Fees Earned } \\\hline 12 . & \text { Wages Expense } \\\hline 13 . & \text { Rent Expense } \\\hline 14 . & \text { Utilities Expense } \\\hline 15 . & \text { Truck Expense } \\\hline 16 . & \text { Miscellaneous Expense } \\\hline & \\\end{array} On January 1, 2010, Cary Parsons established a catering service. Listed below are accounts to use for transactions (a) through (d), each identified by a number. Following this list are the transactions that occurred during the first month of operations. You are to indicate for each transaction the accounts that should be debited and credited by placing the account number(s) in the appropriate box. \begin{array}{|l|l|} \hline 1 . & \text { Cash } ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~\\ \hline 2 . & \text { Accounts Receivable } \\ \hline 3 . & \text { Supplies } \\ \hline 4 . & \text { Prepaid Insurance } \\ \hline 5 . & \text { Equipment } \\ \hline 6 . & \text { Truck } \\ \hline 7 . & \text { Notes Payable } \\ \hline 8 . & \text { Accounts Payable } \\ \hline 9 . & \text { Cary Parsons, Capital } \\ \hline 10 . & \text { Cary Parsons, Drawing } \\ \hline 11 . & \text { Fees Earned } \\ \hline 12 . & \text { Wages Expense } \\ \hline 13 . & \text { Rent Expense } \\ \hline 14 . & \text { Utilities Expense } \\ \hline 15 . & \text { Truck Expense } \\ \hline 16 . & \text { Miscellaneous Expense } \\ \hline & \\ \end{array}

Correct Answer:

verifed

Verified

blured image_TB2085_00...

View Answer

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q40: Record the following selected transactions for April

Q43: Georgia Company has a condensed income statement

Q50: Expenses follow the same debit and credit

Q73: The purchase of supplies on account was

Q98: On October 10th, Nikle Company purchased supplies

Q99: In which of the following types of

Q123: In accordance with the debit and credit

Q133: On November 1st Nikle Company made a

Q222: The Drawings account is an example of

Q231: Proof that the dollar amount of the