Following are the transactions of Green Energy Company. May 1 The company provided $2,400 of sustainability...
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Following are the transactions of Green Energy Company. May 1 The company provided $2,400 of sustainability consulting services on credit to a customer. May 3 The company purchased $500 of energy-efficient supplies on credit. May 9 The company collected $900 cash as partial payment of the May 1 consulting revenue. May 20 The company paid $500 cash toward the payable for energy-efficient supplies. May 31 The company paid $300 cash for May's renewable energy utilities. QS 2-10 (Algo) Analyzing transactions using accounting equation LO A1 Analyze each transaction of the Green Energy Company by showing its effects on the accounting equation-specifically, identify the accounts and amounts (including + or -) for each transaction. Use the following partial chart of accounts: Cash; Accounts Receivable; Supplies; Accounts Payable; Consulting Revenue; and Utilities Expense. Date May 1 May 3 May 9 May 9 May 20 May 31 Assets (+) increase (-) decrease = = = = = Liabilities + + + + + + Equity Following are the transactions of Green Energy Company. May 1 The company provided $2,400 of sustainability consulting services on credit to a customer. May 3 The company purchased $500 of energy-efficient supplies on credit. May 9 The company collected $900 cash as partial payment of the May 1 consulting revenue. May 20 The company paid $500 cash toward the payable for energy-efficient supplies. May 31 The company paid $300 cash for May's renewable energy utilities. QS 2-10 (Algo) Analyzing transactions using accounting equation LO A1 Analyze each transaction of the Green Energy Company by showing its effects on the accounting equation-specifically, identify the accounts and amounts (including + or -) for each transaction. Use the following partial chart of accounts: Cash; Accounts Receivable; Supplies; Accounts Payable; Consulting Revenue; and Utilities Expense. Date May 1 May 3 May 9 May 9 May 20 May 31 Assets (+) increase (-) decrease = = = = = Liabilities + + + + + + Equity
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Date May 1 Assets Accounts Receivable 2400 increase in accounts receivable due to services pro... View the full answer
Related Book For
Fundamentals of Financial Accounting
ISBN: 978-1259269868
5th Canadian edition
Authors: Fred Phillips, Robert Libby, Patricia Libby, Brandy Mackintosh
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