Acet 281 002 Homework Chapter 2 homework part 1 Score 0 of 1

Acet 281 002 Homework: Chapter 2 homework part 1 Score: 0 of 1 pt E2-11 Hw Score: 0%, 0of8pt be 100 and the ned asset account wil 110 (Use system Each account is separated by a factor of 10 For example the first asset account w Cash Common Stock Automoive Supplies Adverising Expense Unearned Revenue Pint Done

Solution

Balance sheet Accounts Assets Liabilities Equity 100 Cash 200 Accounts Payable 300 Dividends 110 Equipment 210 Unearned Revenue 310 Common stock 120 Automotive Supplies 320 Retained earnings Income Statement Accounts (Part of Equity) Revenues Expenses 400 Service Revenue 500 Utilities Expense 510 dvertising Expense Date accounts and Explanation Debit Credit May 1 Cash $                     100,000 Common stock $        100,000