Solved

The Following Schedule Reflects the First Month's Transactions of the Blue

Question 211

Essay

The following schedule reflects the first month's transactions of the Blue Real Estate Company:
 Accounts  Accounts  Common  Retained  Cash + Receivable + Supplies + Equipment  Payable + Stock + Earnings  a. 20,000+20,000 b. 5,0005,000 c. +1,500+1,500 d. +3,000+3,000 e. +1,000+1,500+2,500 f. 750750g+500500h.400400i.2,0002,000\begin{array}{|l|r|r|r|r|r|r|l|}\hline&&\text { Accounts } & & & \text { Accounts } & \text { Common } & \text { Retained } \\&\text { Cash }+ & \text { Receivable }+ & \text { Supplies }+ & \text { Equipment }- & \text { Payable }+ & \text { Stock }+ & \text { Earnings } \\\hline \text { a. } & -20,000 & & & & & +20,000 & \\\hline \text { b. } & -5,000 & & & -5,000 & & & \\\hline \text { c. } & & & +1,500 & & +1,500 & & \\\hline \text { d. } & +3,000 & & & & & & +3,000 \\\hline \text { e. } & +1,000 & +1,500 & & & & & +2,500 \\\hline \text { f. } & -750 & & & & -750 & &\\\hline \mathrm{g} & +500 & -500 & & & & & \\\hline \mathrm{h} . & && -400 & & & & -400 \\\hline \mathrm{i} . & -2,000 & & & & & & -2,000 \\\hline\end{array}

Provide descriptions for each transaction.

Correct Answer:

verifed

Verified

a.Investment of cash in business by owne...

View Answer

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents