Chapter 2 Credits and Debits

Front

Cash Bal $1,000, Supplies $950 Debit Cash $500, Credit Supplies $500 After the Transaction what are the account balances?

Back

$1,500 Cash; $450 Supplies

Front

Cash Bal $10,000, On Account $1,300 Credit Cash $800, Debit On Account $800 After the Transaction what are the account balances?

Back

$9,200 Cash; $500 On Account

Front

Supplies $650, On Account $1,050 Credit Supplies $300, Debit On Account $300 After the Transaction what are the account balances?

Back

$350 Supplies; $750 On Account

Front

Cash $4,500, Owner's Equity $21,000 Debit Cash $3,000, Credit Owner's Equity $3,000 After the Transaction what are the account balances?

Back

$7,500 Cash; $24,000 Owner's Equity

Front

Supplies $3,800, Owner's Equity $12,000 Credit Supplies $1,250, Debit Owner's Equity $1,250 After the Transaction what are the account balances?

Back

$2,550 Supplies ; $10,750 Owner's Equity

Front

Supplies $800, On Account $920 Debit Supplies $500, Credit On Account $500 After the Transaction what are the account balances?

Back

$1,300 Supplies; $1,420 On Account

Front

Cash Bal $1,800, Prepaid Insurance $650 Credit Cash $200, Debit Prepaid Insurance $200 After the Transaction what are the account balances?

Back

$1,600 Cash; $850 Supplies

Front

Cash Bal $4,000, Supplies $1,675 Credit Cash $425, Debit Supplies $425 After the Transaction what are the account balances?

Back

$3,575 Cash; $2,100 Supplies

Front

Cash $6,020, Owner's Equity $11,080 Credit Cash $2,050, Debit Owner's Equity $2,050 After the Transaction what are the account balances?

Back

$3,970 Cash; $9,030 Owner's Equity

Front

Cash Bal $1,800, Prepaid Insurance $0 Credit Cash $1,200, Debit Prepaid Insurance $1,200 After the Transaction what are the account balances?

Back

$600 Cash; $1,200 Prepaid Insurance