Assets
A company purchases $200 office supplies with cash.
Office Supplies 200
Cash 200
Borrowed $10,000 cash from the bank, signing a note payable.
cash. 10000
notes payable 10000
Performed $500 of services on account.
accounts receivable. 500
revenue. 500
Paid $250 cash for utilities.
utilities expense. 250
cash. 250
Owner invests $5,000 cash in the business.
cash. 5000
contributed capital 5000
A company paid $1000 cash for new equipment.
PP&E 1000
Cash 1000
Purchased $400 of office supplies on account.
office supplies 400
accounts payable 400
Collected $600 cash from a customer for services previously performed.
cash. 600
accounts receivable 600
Paid $400 cash for rent expense.
rent expense. 400
cash. 400
Paid $1,000 cash dividend to stockholders.
dividend . 1000
cash. 1000
Received $3,000 cash from a customer for services performed.
Cash 3000
Revenue 3000
Paid $500 cash to a supplier to reduce accounts payable.
Accounts payable 500
cash 500
The company earned $2,000 in service revenue, cash received immediately.
cash 2000
revenue. 2000
Paid employees $2,000 in wages.
wages expense. 2000
cash. 2000
Purchased $1,200 equipment: paid $200 cash, remainder on account.
PP&E. 1200
cash. 200
accounts payable 1000
Company buys $5,000 equipment on account.
PP&E. 5000
accounts payable 5000
Received $1,200 cash in advance from a customer for future services.
cash. 1200
unearned revenue 1200
Provided $1,500 in services on credit; the customer will pay later.
accounts receivable 1500
revenue. 1500
Incurred $300 advertising expense on account.
advertising expense. 300
accounts payable. 300
Paid $300 cash for last month’s utilities payable.
accounts payable. 300
cash. 300
Prepaid $600 for insurance for next month.
cash 600
Accrued $800 in wages payable at the end of the month.
wage expense 800
wages payable. 800
Earned $5,000 in revenue, but the payment will be received next month.
accounts receivable 5000
revenue. 5000
Recognized $1,000 depreciation expense on equipment.
depreciation expense. 1000
accumulated depreciation. 1000
Company performed $2,000 of services: received $1,500 cash now, $500 on account.
cash. 1500
accounts receivable 500
revenue 2000