Assets = Liabilities +
160,745 = 19,500 +
160,745
Accounts Debit (Credit) Accounts Beg Trial Entries End Trial
Balance Balance
a. Cash 130,000 Cash 0 160,290 160,290
Owner Capital (130,000) Accounts Receivable 0 0
Supplies 0 455 455
b. Cash 13,000 Accounts Payable 0 0
Revenue or income (13,000) Unearned Revenue 0 (19,500) (19,500)
Owner Capital 0 (130,000) (130,000)
c. Wages Expense 780 Revenue or income 0 (13,000) (13,000)
Cash (780) Wages Expense 0 780 780
Utilities Expense 0 975 975
d. Cash 19,500 Total Debits - Total (cred 0 0 0
Unearned Revenue (19,500) Net Income 0 (11,245) (11,245)
e. Utilities Expense 975
Cash (975)
Activity
f. Supplies 455 a. Owner A deposits cash into the
Cash (455) 130,000
business checking account
b. Receive cash from client for work
13,000
done
c. Paid cash to employees 780
d. Received cash for work that will
19,500
be done in the future
e. Paid cash for utilities 975
f. Paid cash for supplies 455
Owner's Equity
141,245
160,745
What was effect on asset liability and owner's equity?
Assets = Liabilities + Owner's Equity
a. Increase = None + Increase
b. Increase = None + Increase
c. Decrease = None + Decrease
d. Increase = Increase + None
e. Decrease = None + Decrease
f. None = None + None
130,000
k
13,000
780
19,500
975
455
Assets = Liabilities +
0 = 0 +
0
Accounts Debit (Credit) Accounts Beg Trial Entries End Trial
Balance Balance
a. Cash 0 0
Accounts Receivable 0 0
Supplies 0 0
b. Accounts Payable 0 0
Unearned Revenue 0 0
Owner Capital 0 0
c. Revenue or income 0 0
Wages Expense 0 0
Utilities Expense 0 0
d. Total Debits - Total (cred 0 0 0
Net Income 0 0 0
e.
Activity
f. a. Owner A deposits cash into the
130,000
business checking account
b. Receive cash from client for work
13,000
done
c. Paid cash to employees 780
d. Received cash for work that will
19,500
be done in the future
e. Paid cash for utilities 975
f. Paid cash for supplies 455
Owner's Equity
0
0
What was effect on asset liability and owner's equity?
Assets = Liabilities + Owner's Equity
a. = +
b. = +
c. = +
d. = +
e. = +
f. = +
130,000
k
13,000
780
19,500
975
455
