A partial list of transactions for Cedar Valley Enterprises Ltd. follows:

Instructions
With the class divided into groups, do the following:
(a) Answer this question: In what way scan spread sheet like the one shown above serve as a journal and a ledger?
(b) Create an appropriate description for each of the above transactions.
(c) Share your answers in (b) with another group of students. If you cannot all agree on the results, share again with a second group of students.

Transcribed Image Text:

Accounts Prepaid Office Accounts Mortgage Common Cash Receivable Advertising Building Equipment Payable Payable Shares Revenue Expenses 1. $200,000 2.-75,000 3. 4. 5.-2,400 6. $200,000 $450,000 $375,000 $15,000 $15,000 $7,500 $7,500 $2,400 -200 -4,200 $118,400+ $ -200 3,800 = $15,000+$374,600+$200,000+ $7,500-$4,000 -400 $7,500 + $2,200 + $450,000+ $15,000 $593,100 $593,100