Problem 3.2A From College Accounting Chapters 1-13 15th edition textbook

for the firm. Classily the accounts by ype,nge account numbers aphptare. Office Supplies jlan eno Salaries Expense Prepaid Rent Fees Income Accounts Receivable Telephone Expense Nelson Sullivan, Capital Accounts Payable Cash Utilities Expense Office Equipment Nelson Sullivan, Drawing PROBLEMS Problem Set A ancnoTaccountstono ord transactions involving as asuabilities, Connect Problem 3.1A Objective 3-1 owner's equity. 000.0 S (d) 000.ee (6) 008.2 o02,s The followving tramsactions occured at several differe busines do fel () 002 INSTRUCTIONS Analyze each of the transactions. For cach, decide what accounts are affected and set up T accounts. Record the effects of the irmosastion in the T accounts. Use plus and minus signs before the amounts to show the increases and decreases ) 000.2 o0e.r TRANSACTIONS I. Hunter Thompson, an owner, made an additional investment of $21.000 in cash. 2. A firm purchased equipment for $10.000 in cash. 3. A firm sold some surplus office furniture for $1,700 in cash. 4. A firm purchased a computer for $3,700, to be paid in 60 days 5. A firm purchased office equipment for $11,200 on credit. The amount is due in 60 days. 6. Nancy Fowler, owner of Fowler Travel Agency, withdrew s6,.000 of her original cash investment 7. A firm bought a delivery truck for $37,000 on credit; payment is due in 90 days. 8. A firm issued a check for $3,500 to a supplier in partial payment of an opin acount balance. Analyze: List the transactions that directly affected an owner's equity account Problem 3.2AUsing T accounts to record transactions involving assets, 3-1, 3-2 liabilities, and owner's equity. The following transactions took place at Calhoun Counseling Services, a business established by Ronald Calhoun. INSTRUCTIONS For each transaction, set up T accounts from this list: Cash; Office Furniture; Office Fquioment: Payable; Ronald Calhoun, Capital,; and Ronald Calhoun, Drawing Automobile; Accounts Analyze each transaction. Record the amounts in the T accounts affected by that transaction. Use plus and minus signs to show increases and decreases in each account