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Denise Carswell started a dental practice and recorded the first five transactions. She invested $90,000 cash. She paid $30,000 for equipment, earned $9,000 in fees, paid $3,800 for advertising, and $3,000 for supplies. These transactions were recorded in T-accounts with the appropriate debits and credits to accounts like cash, equipment, fees income, advertising expense, supplies, and capital.

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Sundaramani Saran
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2K views2 pages

Q1

Denise Carswell started a dental practice and recorded the first five transactions. She invested $90,000 cash. She paid $30,000 for equipment, earned $9,000 in fees, paid $3,800 for advertising, and $3,000 for supplies. These transactions were recorded in T-accounts with the appropriate debits and credits to accounts like cash, equipment, fees income, advertising expense, supplies, and capital.

Uploaded by

Sundaramani Saran
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 2

9/14/2015

1.

AssignmentPrintView

Award: 2 out of 2.00 points

Exercise 3.2 Using T accounts to analyze transactions. LO 3-2


DeniseCarswelldecidedtostartadentalpractice.Thefirstfivetransactionsforthebusinessfollow.

1.
2.
3.
4.
5.

Deniseinvested$90,000cashinthebusiness.
Paid$30,000incashforequipment.
Performedservicesforcashamountingto$9,000.
Paid$3,800incashforadvertisingexpense.
Paid$3,000incashforsupplies.

(1) Selectwhichtwoaccountsareaffectedineachoftheabovetransactions.

Transactions
Debit
Credit
Transaction1

Cash

DeniseCarswell,Capital

Transaction2

Equipment

Cash

Transaction3

Cash

Feesincome

Transaction4

Advertisingexpense

Cash

Transaction5

Supplies

Cash

(2&3) PosttheabovetransactionsintotheappropriateTaccounts.

Cash
1.

90,000

30,000

2.

3.

9,000

3,800

4.

3,000

5.

Bal.

Equipment
2.

Bal.

62,200

FeesIncome

http://ezto.mheducation.com/hm.tpx?todo=printviewSingle

30,000

AdvertisingExpense
9,000

Bal.

30,000

9,000

3.

4.

Bal.

3,800

3,800

2/5

9/14/2015

AssignmentPrintView

Supplies
5.

DeniseCarswell,Capital

3,000

90,000

3,000

Bal.

Bal.

1.

90,000

References
Worksheet

Exercise3.2UsingTaccountsto
analyzetransactions.LO32

LearningObjective:0302Analyzebusinesstransactionsandenter
themintheaccounts.

Exercise 3.2 Using T accounts to analyze transactions. LO 3-2


DeniseCarswelldecidedtostartadentalpractice.Thefirstfivetransactionsforthebusinessfollow.

1.
2.
3.
4.
5.

Deniseinvested$90,000cashinthebusiness.
Paid$30,000incashforequipment.
Performedservicesforcashamountingto$9,000.
Paid$3,800incashforadvertisingexpense.
Paid$3,000incashforsupplies.

(1) Selectwhichtwoaccountsareaffectedineachoftheabovetransactions.

Transactions
Debit
Credit
Transaction1

Cash

DeniseCarswell,Capital

Transaction2

Equipment

Cash

Transaction3

Cash

Feesincome

Transaction4

Advertisingexpense

Cash

Transaction5

Supplies

Cash

(2&3) PosttheabovetransactionsintotheappropriateTaccounts.
http://ezto.mheducation.com/hm.tpx?todo=printviewSingle

3/5

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