ACCT 201 Notes 1-15-2013

ACCT 201 Notes 1-15-2013 : Sheet1

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1
2	INCREASE	Debit	INCREASE	Credit	INCREASE	Credit
3	DECREASE	Credit	DECREASE	Debit	DECREASE	Debit
4
5	ASSETS		LIABILITIES		OWNER'S EQUITY
6
7	CASH		ACCOUNTS PAYABLE		ROGERS DRAWING		ROGERS CAPITAL
8	25000	1000		2000	1500			25000
9	5000	1500			1500
10	3000							25000
11	30500			2000	Operations
12
13	ACCOUNTS RECEIVABLE		NOTES PAYABLE		RENT EXPENSE		SERVICE REVENUE
14	6000	3000		5000	1000			6000
15
16	3000			5000	1000			6000
17
18	SUPPLIES				ADVERTISING EXPENSE
19					2000
20
21					2000
22
23	EQUIPMENT				SALARIES EXPENSE
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25
26
27
28
29
30	1. Rogers begins the business with an investment of $25,000 cash.
31
32	2. Rogers paid $1,000 rent for the month in cash.
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34	3. Borrowed $5,000 of cash from Bank of America and signed a Note Payable.
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36	4. Rogers provided $6,000 of consulting service to Rhodes, on account.
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38	5. Rogers purchased advertising from the Seattle Times for $2,000. Rogers will pay for it in 30 days.
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40	6. Our customer, Rhodes paid us $3,000 cash on account.
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42	7. Rogers withdrew $1500 from the business to take his family to Disneyland.
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47					Rogers Co.
48					Trial Balance
49					1/15/2013
50					Debits	Credits
51				Cash	30500
52				Accounts Rec.	3000
53				Supplies
54				Equipment
55				Accounts Payable		2000
56				Notes Payable		5000
57				Rogers Capital		25000
58				Rogers Drawing	1500
59				Service Revenue		6000
60				Rent Expense	1000
61				Advertising Exp.	2000
62				Salaries Expense
63				Totals	38000	38000
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