The Accounts with Identification Letters for Orly Delivery Services Are

question 93

Essay

The accounts with identification letters for Orly Delivery Services are listed below.
$\begin{array}{l|l|l|l}\text { Letter } & \text { Account Title } & \text { Letter } & \text { Account Title } \\\hline \text { A } & \text { Cash } & \text { I } & \text { Orly, Drawing } \\\hline \text { B } & \text { Accounts Receivable } & \text { J } & \text { Delivery Fee Income } \\\hline \text { C } & \text { Supplies } & \mathrm{K} & \text { Advertising Expense } \\\hline \text { D } & \text { Prepaid Rent } & \text { L } & \text { Equipment Repairs Expense } \\\hline \text { E } & \text { Delivery Equipment } & \text { M } & \text { Rent Expense } \\\hline \text { F } & \text { Office Equipment } & \text { N } & \text { Salaries Expense } \\\hline \text { G } & \text { Accounts Payable } & \text { O } & \text { Utilities Expense } \\\hline \text { H } & \text { Orly, Capital } & &\\\hline\end{array}$
During the current month, the company completed the transactions listed below. Indicate the appropriate journal entry that needs to be recorded for each transaction by providing the account letter and amount. Some entries may need more than one debit and/or more than one credit. The first transaction is completed as an example.
$\begin{array}{|l|c|l|l|l|l|}\hline && {\text { Debit }} &&{\text { Credit }} \\\hline& \text { Transaction } & \text { Letter } & \text { Amount } & \text { Letter } & \text { Amount } \\\hline \text { A. } & \begin{array}{l}\text { The owner invested } \$ 25,000 \\\text { cash in the business }\end{array} & \text { A } & \$ 25,000 & \text { H } & \$ 25,000 \\\hline \text { B. } & \begin{array}{l}\text { Purchased delivery equipment } \\\text { on account } \$ 16,500 .\end{array} \\\hline \text { C. } & \begin{array}{l}\text { Performed delivery services for } \\\$ 6,200 \text { cash }\end{array} \\\hline \text { D. } & \begin{array}{l}\text { Issued check for } \$ 7,200 \text { to pay } \\\text { the rent for six months }\end{array} \\\hline \text { E. } & \begin{array}{l}\text { Issued check for } \$ 360 \text { to } \\\text { purchase supplies }\end{array} \\\hline \text { F. } & \begin{array}{l}\text { Issued check for } \$ 4,000 \text { in } \\\text { partial payment of the delivery } \\\text { equipment purchased in 'B' } \\\text { above }\end{array} \\\hline \text { G. } & \begin{array}{l}\text { Purchased an advertisement } \\\text { space in the local newspaper for } \\\text {\( \$ 600 \) for one month }\end{array} \\\hline\end{array}$

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Definitions:

Altruistic Explanations

Theories or reasons provided for actions taken for the benefit of others, often without personal gain and sometimes at a cost to oneself.

Stoicism

A classical Greek philosophical approach that emphasizes cultivating self-discipline and resilience to conquer harmful feelings.

Virtue Ethics

An ethical theory that emphasizes the role of character and virtue in moral philosophy rather than either doing one’s duty or acting to bring about good consequences.

Stoic Frame

An approach to life based on stoicism, emphasizing rationality, personal virtue, and resilience in the face of adversity or emotional turmoil.