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NO Account Type Increase Decrease: Class Activity

Samir established a travel agency on April 1, 2017. During the month, several transactions occurred: 1) Samir invested $15,000 cash to start the agency. 2) Rent and supplies were paid in cash totaling $1,300. 3) Equipment was purchased for $3,000 and advertising costs were $700. 4) Services earned $11,000 in revenue, with $3,000 received in cash and $8,000 billed to customers on account.

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Hassan Yassin
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82 views2 pages

NO Account Type Increase Decrease: Class Activity

Samir established a travel agency on April 1, 2017. During the month, several transactions occurred: 1) Samir invested $15,000 cash to start the agency. 2) Rent and supplies were paid in cash totaling $1,300. 3) Equipment was purchased for $3,000 and advertising costs were $700. 4) Services earned $11,000 in revenue, with $3,000 received in cash and $8,000 billed to customers on account.

Uploaded by

Hassan Yassin
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Class Activity

NO ACCOUNT TYPE INCREASE DECREASE


1 cash Asset account Debit Credit
2 sales
3 Account receivable
4 Advertising expense
5 Notes payable
6 Service revenue
7 equipment
8 Account payable
9 capital
10 Rent expense
11 Retained earnings
12 Telephone expenses
13 supplies
14 Salaries expense
15 inventory
16 Interest payable
17 building
18 Cost of goods sold
19 Rent revenue
20 Utility expense
21 Taxes payable
22 Salary and wages
payable
23 Prepaid expenses
24 Unearned revenue
25 Commission revenue
26 vehicles
27 Drawings
On April 1 2017 Samir established Samir travel agency the following transactions
were completed during the month.
1 Invested $15000 cash to star the agency
2 paid $600 cash for office rent
3 Purchased office equipment for $3000
4 Incurred $700 of advertising cost
5 Paid $800 cash for office supplies
6 Earned $11000 for service rendered: $3000 cash is received from customers,
and the balance of $8000 is billed to customers on account.

Instructions:
1 Using these accounts: cash, capital, rent expense, equipment, advertising
expense, office supplies, service revenue, and account receivable make a
journal entry for each transaction.

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