Write the answers to the following problem in the Working Papers. Work this problem independently. Place a plus sign (+) in the appropriate column if the classification is increased. Place a minus sign (-) in the appropriate column if the classification is decreased.

$$\begin{matrix} \text{Trans. No.} & \text{Assets = } & \text{Liabilities +} & \text{Owner 's Equity}\\ \text{1}\\ \end{matrix}$$

																																																	Transactions: 1. Received cash from owner as an investment. 2. Bought supplies on account. 3. Paid cash for supplies. 4. Paid cash for insurance. 5. Paid cash on account.

Write the answers to the following problems in the Working Papers. Work this problem independently.

$$\begin{matrix} \text{Cash} & \text{Supplies}\\ \text{Accounts Receivable-White} & \text{Prepaid Insurance}\\ \text{Company} & \text{Accounts Payable-West End}\\ \text{Accounts Receivable-Jagerstrom} & \text{Hardware}\\ \text{Inc.} & \text{Shelley Feinstein, Capital}\\ \end{matrix}$$

For each account, complete the following: 1. Prepare a T account. 2. Label the debit and credit side. 3. Draw an up arrow $(\uparrow)$ on the increase side. 4. Draw a down arrow $(\downarrow)$ on the decrease side. 5. Label the normal balance side.

Bethany Hartman is starting Hartman's Lawn Service, a small service business. Hartman's uses the accounts shown in the fol l owing equation. Use the form in your Working Papers to complete this problem.

$$\begin{matrix} \text{Trans. } & \text{} & \text{Assets =} & \text{} & \text{Liabilities +} & \text{} & \text{Owner 's Equity}\\ \text{No.} & \text{Cash +} & \text{Supplies +} & \text{Prepaid Insurance = } & \text{Accts. Pay - Knapp Co. +} & \text{Accts. Pay.- Hickman Mowing +} & \text{Bethany Hartma n, Capita}\\ \text{}{\begin{array}{c}{\text { Beg. Bal. }} \\ {\text { 1 }}\end{array}} & \text{0 +500} & \text{0} & \text{0} & \text{0} & \text{0} & \text{0 +500}\\ \text{}{\begin{array}{c}{\text { New Bal. }} \\ {2}\end{array}} & \text{5,000} & \text{0} & \text{0} & \text{0} & \text{0} & \text{5000}\\ \end{matrix}$$

For each transaction, complete the following. Transaction 1 is given as an example. a. Analyze the transaction to determine which accounts in the accounting equation are affected. b. Write the amount in the appropriate co lumns using a plus sign( + ) if the account increases or a minus sign(-) if the account decreases. c. Calculate a new balance for each transaction in the accounting equation. d. Before going on to the next transaction, determine that the accounting equation is still in balance. Transactions: 1. Received cash from owner as an investment, $\$5,000.00$. 2. Paid cash for insurance, $\$1,800.00$. 3. Bought supplies on account from Hickman Mowing, $\$700.00$. 4. Bought supplies on account from Knapp Co., $\$200. 00$. 5. Paid cash on account to Hickman Mowing, $\$300.00$. 6. Paid cash for supplies, $\$100.00$. 7. Paid cash on account to Knapp Co., $\$100.00.8$. Received cash from owner as an investment, $\$1,000.00$.

Write the answers to this problem in the Working Papers. Work this problem independently. Enter the following transactions on page 12 of a journal. Transactions: July 12. Received notice from the bank of a dishonored check from Tiffany Hooverman, $\$130.00$, plus $\$30.00$ fee; total, $\$160.00$. Memorandum No.78. 13. Paid cash on account to Alfredson Company, $\$486. 00$, using EFT. Memorandum No.79.14. Purchased supplies, $\$70.00$, using a debit card. Memorandum No.80

Vickie Lands owns a business called LandScape. LandScape uses the following accounts. Cash, (Vickie Lands, Drawing), Accounts Receivable—Alston Goff, Sales, Accounts Receivable—Josie Leveson, Advertising Expense, Supplies, Miscellaneous Expense, Prepaid Insurance, Rent Expense Accounts Payable—North End Supplies, Repair Expense, Accounts Payable—Bethany Supplies, Utilities Expense, Vickie Lands, Capital Instructions:

1. Prepare a T account for each account.
2. Analyze each transaction into its debit and credit parts. Write the debit and credit amounts in the proper T accounts to show how each transaction changes account balances. Write the date of the transaction in parentheses before each amount. Transactions: June 1. Received cash from owner as an investment, $2,700.00.
3. Paid cash for rent,$500.00.
4. Paid cash for supplies, $300.00.
5. Received cash from sales,$850.00.
6. Paid cash for insurance, $275.00.
7. Sold services on account to Alston Goff,$700.00.
8. Bought supplies on account from Bethany Supplies, $200.00.
9. Paid cash for repairs,$75.00.
10. Received cash from owner as an investment, $1,900.00.
11. Received cash from sales,$900.00.
12. Bought supplies on account from North End Supplies, $130.00.
13. Received cash on account from Alston Goff,$500.00.
14. Paid cash for miscellaneous expense, $25.00.
15. Paid cash on account to Bethany Supplies,$50.00.
16. Paid cash for electric bill (utilities expense), $55.00.
17. Paid cash for advertising,$95.00.
18. Sold services on account to Josie Leveson, $450.00.
19. Paid cash to owner for personal use,$400.00.
20. Received cash on account from Josie Leveson, $200.00.

$$\begin{matrix} \text{Trans. } & \text{Assets} & \text{}{\text { = Liabilities }} & \text{}{\text { + Owner's Equity }}\\ \text{No.} & \text{}{\begin{array}{c}{\text { Accts. Rec. }-} \\ {\text { Cash }+\text { Bethany Center }+\text { Supplies }}\end{array}} & \text{}{\begin{array}{cc}{\text { Prepaid }} & {\text { Accts. Pay. }-} \\ {\text { Insurance }} & {=\text { McGrew Supplies }}\end{array}} & \text{}{\begin{array}{r}{\text {+Bryan Arnett, }} \\ {\text { Capital }}\end{array}}\\ \text{1}\\ \end{matrix}$$

Write the answers to the following problem in the Working Papers. Work this problem independently. Place a plus sign (+) in the appropriate column if the account is increased. place a minus sign (-) in the appropriate column if the account is decreased. Transactions: 1. Sold services on account to Bethany center 2. Received cash from sales. 3. Received cash on account from Bethany center. 4. Owner withdrew equity in the form of cash. 5. Paid cash for rent.

Write the answers to the following problem in the Working Papers.

Trans. No.	Assets	=	Liabilities	+	Owner's Equity
1

For each transaction, place a plus sign ( +) in the appropriate column if the account classification asset, liability, or owner's equity is increased. Place a minus sign (-) in the appropriate column if the account classification is decreased.

Transactions:

2. Received cash from owner as an investment.

What must be done if a transaction increases the left side of the equation?

Peter Gentry operates a service business called Doggywood Pet Suites. Doggywood Pet Suites uses the accounts shown in the following accounting equation. Use the form in your Working Papers to complete this problem. $$ \begin{matrix} \text{Trans. } & \text{} & \text{Assets =} & \text{} & \text{Liabilities +} & \text{} & \text{Owner 's Equity}\\ \text{No.} & \text{Cash +} & \text{Accts. Rec.- Dr. Shephard +} & \text{Supplies +} & \text{Prepaid Insurance =} & \text{Accts. Pay.- Paws & Claws Co.+} & \text{Pet er Gentry, Capital}\\ \text{}{\begin{array}{c}{\text { Beg. Bal. }} \\ {\text { 1 }}\end{array}} & \text{}{\begin{array}{l}{2,500} \\ {-500}\end{array}} & \text{0} & \text{200} & \text{100} & \text{1300} & \text{}{\begin{array}{c}{1,500} \\ {-500 \text { (expense) }}\end{array}}\\ \text{}{\begin{array}{c}{\text { New Bal. }} \\ {2}\end{array}} & \text{2,000} & \text{0} & \text{200} & \text{100} & \text{1300} & \text{1000}\\ \end{matrix} $$ For each transaction, complete the following. Transaction 1 is given as an example. a. Analyze the transaction to determine which accounts in the accounting equation are affected. b. Write the amount in t he appropriate co lumns, using a plus sign ( +) if the account increases or a minus sign (-) if the account decreases. c. For transactions that change owner's equi t y, write in parentheses a description of the transaction to the right of the amount. d. Calculate the new balance for each account in the accounti ng equation. e. Before going on to the next transaction, determine that the accounting equation is still in balance. Transactions: 1. Paid cash for rent, $\$500.00$. 2. Received cash from owner as an investment, $\$700.00$. 3. Paid cash for te l ephone bill, $\$75.00$. 4. Received cash from sales, $\$1,050. 00$. 5. Bought supplies on account from Paws & Claws Co., $\$275.00$. 6. Sold services on account to Dr. Shephard, $\$285.00$. 7. Paid cash for advertising, $\$450.00$. 8. Paid cash for supplies, $\$185. 00$. 9. Received cash on account from Dr. Shephard, $\$150.00$. 10. Paid cash on account to Paws & Claws Co., $\$200.00$. 11. Paid cash for one month of insurance, $\$100.00$. 12. Received cash from sales, $\$475.00$. 13. Owner withdrew equity in the form of cash, $\$800.00$.

Using only one set of T accounts, analyze each transaction into its debit and credit parts. Write the debit and credit amounts in the proper T accounts to show how each transaction changes account balances. Write the date of the transactions before each amount. Selected transactions for Gardens Plus for April are given as an example of how to use only one set of T accounts.

$$\begin{matrix} \text{Cash} & \text{} & \text{Accounts Receivable-} & \text{Parker McCure}\\ \text{Apr 5 1,500.00} & \text{Apr 7 800.00 } & \text{Apr 1 2,000.00} & \text{Apr 5 1,500.00}\\ \text{6 1,000. 00} & \text{} & \text{} & \text{}\\ \text{Supplies} & \text{} & \text{Sales} & \text{}\\ \text{Apr 7 800. 00} & \text{} & \text{} & \text{Apr 1 2,000.00}\\ \text{} & \text{} & \text{} & \text{6 1,000.00}\\ \end{matrix}$$

May 1. Received cash from owner as an investment, $\$3,700.00$. 2. Paid cash for rent, $\$600.00$. 4. Paid cash for supplies, $\$400.00$. 4. Received cash from sales, $\$950.00$. 5. Paid cash for insurance, $\$375.00$. 8. Sold services on account to Lee Chen, $\$800.00$. 9. Bought supplies on account from Sullivan Supplies, $\$300.00$. 10. Paid cash for repairs, $\$85.00$. 11. Received cash from owner as an investment, $\$2,900. 00$. 11. Received cash from sales, $\$1,000.00$. 12. Bought supplies on account from West End Supplies, $\$ 230.00$. 13. Received cash on account from Lee Chen, $\$650.00$. 15. Paid cash for miscellaneous expense, $\$35.00$. 16. Paid cash on account to Sullivan Supp lies, $\$60.00$. 22. Paid cash for electric bill (utilities expense), $\$65.00$. 23. Paid cash for advertising, $\$105.00$. 25. Sold services on account to Parker McCure, $\$550.00$. 26. Paid cash to owner for personal use, $\$500.00$. 30. Received cash on account from Parker McCure, $\$300.00$.

For each line, fill in the missing amount to complete the accounting equation. Use the form in your Working Papers to complete the problem.

$$\begin{matrix} \text{Assets =} & \text{Liabilities +} & \text{Owner's Equity}\\ \text{15,650} & \text{11,475} & \text{?}\\ \text{11,000} & \text{?} & \text{6,000}\\ \text{?} & \text{2,000 } & \text{3,300}\\ \text{12,000} & \text{?} & \text{7,000}\\ \text{125,000} & \text{69,000} & \text{?}\\ \text{?} & \text{1,875 } & \text{15,750}\\ \text{35,000} & \text{13,000} & \text{?}\\ \text{6,000} & \text{?} & \text{2,500}\\ \text{?} & \text{139,000 } & \text{4,650}\\ \text{17,000} & \text{2.800} & \text{?}\\ \text{42,000} & \text{?} & \text{17,000}\\ \text{8,750} & \text{2,980} & \text{?}\\ \text{?} & \text{47,000} & \text{24,000}\\ \text{67,000} & \text{?} & \text{32,000}\\ \text{73,000} & \text{41,000} & \text{?}\\ \text{?} & \text{93,000 } & \text{7,700}\\ \text{49,325} & \text{?} & \text{10,020}\\ \text{?} & \text{21,250 } & \text{2,800}\\ \end{matrix}$$

Prove and rule page 1 of the journal. Carry the column totals forward to page 2 of the journal.

    Aug. 1. Received cash from owner as an investment, $18,000.00. R1.
         1. Paid cash for rent,$3,600.00. C1.
         2. Paid cash for electric bill, $210.00. C2.
         4. Paid cash for supplies,$900.00. C3.
         4. Paid cash for insurance, $2,400.00. C4.
         7. Bought supplies on account from Dakota Supplies,$1,000.00. M1.
        11. Paid cash to establish a petty cash fund, $200.00. cs.
        12. Received cash from sales,$950.00. Tl 2.
        13. Paid cash for repairs, $500.00. C6.
        13. Paid cash for miscellaneous expense,$80.00. C7.
        13. Received cash from sales, $470.00. T13.
        13. Sold services on account to Valley College,$450.00. S1.
        14. Paid cash for advertising, $600.00. C8.
        15. Paid cash to owner for personal use,$500.00. C9.
        15. Paid cash on account to Dakota Supplies, $600.00. C10.
        15. Received cash from sales,$610.00. T15.
        15. Sold services on account to Skiffton University, $850.00. S2.
        18. Paid cash for miscellaneous expense,$190.00. C11.
        18. Received cash on account from Valley College, $250.00. R2.
        19. Received cash from sales,$960.00. T19.
        20. Paid cash for repairs, $320.00. C12.
        20. Bought supplies on account from Seaside Supplies,$240.00. M2.

In the circular flow diagram what do firms receive from resource markets?

Write the answers to the following problem in the Working Papers.

Place a plus sign ( +) in the appropriate column if the classification is increased.

Place a minus sign (-) in the appropriate column if the classification is decreased.

Trans. No.	Assets	=	Liabilities	+	Owner's Equity
1

Transactions:

1. Received cash from owner as an investment.