Acc205 Principles of Accounting: E1-21 Indicate the effects of the following business transactions

Acc205 Principles of Accounting

E1-21
Indicate the effects of the following business transactions on the accounting equation of a Blockbuster Video location. Transaction (a) is answered as a guide.
a. Received cash of $10,000 from the owner, who was investing in the business.
b. Earned video rental revenue on account, $1,200.
c. Purchased office furniture on account, $600.
d. Received cash on account, $300.
e. Paid cash on account, $250.
f. Sold land for $12,000, which was the cost of the land.
g. Rented videos and received cash of $600.
h. Paid monthly office rent of $800.
i. Paid $100 cash to purchase supplies.
Powered by