26 terms



Terms in this set (...)

Owner invested cash in a business
Cash (CA) increases, owners capital (OE) increases
Purchased a printer for cash
Cash (CA) decreases, furniture and equipment (FA) increases
Purchased supplies on account (not payed at the moment)
Accounts payable (CL) increased, supplies (CA) increases
Paid creditors
Cash (CA) decreases, bank/short term loan (CL) increases
Borrow money from the bank
Bank loan (CL) increases, cash (CA) increases
Received fees for services provides
Fees earnings, revenue (OE) imcreases, cash (CA) increases
Paid general expenses
Expenses (OE) increased, cash (CA) decreases
Owner took money from the business for personal use
Drawings (OE) increases, cash (CA) decreases
Issued a note to pay for raw materials
Notes payable (CL) increases, raw material (CA) increases
Paid electricity bills
Expenses (OE) increases, cash (CA) decreases
The proprietor contributed some cash to the business
Cash (CA) increases, owners capital (OE) decreases
Got a loan from the bank to buy a new building
Mortgage (long term liability) increases, building and plant (FA) increases
Cleaning products were purchased for cash
Cash (CA) decreases, supplies (CA) increases
Sold 200 products to a local retailer and got a note for them
Notes receivable (CA) increased, current earnings (OE) increases
Billed customers for services for the half of month
Fees esrnings (OE) increases, accounts receivable (CA) increases
Paid dividends to owners
Cash (CA) decreases, dividends (OE ) increases
Received the telephone bill but will pay it later
Account payable (CL) increases, expenses (OE) increases
Collected payment from services provided earlier in the month
Cash (CA) increases, accounts receivable (CA) decreases
Paid 1/3 of the loan to the bank
Cash (CA) decreases, bank loan (CL) decreases
Got maintenance and repair services ont he company truck to be paid next month
Account payable (CL) increases, expenses (OE) increases
Sold used computers to employees
Furniture and equipment (FA) decreases, cash (CA) increases
Paid cash to a real state company to acquire the adjacent land for building a parking lot for costumers
Property (FA) increases, cash (CA) decreases
Owner took money to repaint his house
Drawings (OE) increases, cash (CA) decreases
Wired 20,000 to pay for a year of medica, insurance for employees
Expenses (OE) increases, cash (CA) decreases
Collected fees for services provided last month
Cash (CA) increases, fees earnings (OE) decreases
Got publicity and advertising on an account
Bank account (CA) increases, expenses (OE) increases