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Selected Transactions Completed by a Proprietorship Are Described Below

question 48

Essay

Selected transactions completed by a proprietorship are described below. Indicate the effects of each transaction on assets, liabilities, and owner's equity by inserting "+" for increase and "-" for decrease in the appropriate columns at the right. If appropriate, you may insert more than one symbol in a column.
ALOE(a)Received cash owner as an additional investment____________(b)Purchased supplies on account____________(c)Paid rent for the curent month____________(d)Received cash for services sold to customers____________(e)Returned some defective supplies purchased in (b)____________(f)Paid insuratice premiums in advance____________(g)Paid cash to creclitor for purchases in(b)____________(h)Charged customers for services sold on account____________(i)Paid cash to a customer as a refund for an overcharge____________(j)Received cash on account from customers____________(k)Owner withdrew cash for personal use____________(I)Recorded the cost of supplies used during the year____________(m)Received invoice for electricity used____________(n)Paidwages____________(o)Purchased a truck for cash____________\begin{array}{ll}&&A&L&OE\\\hline(a) & \text{Received cash owner as an additional investment} &\_\_\_\_&\_\_\_\_&\_\_\_\_\\(b) & \text{Purchased supplies on account} &\_\_\_\_&\_\_\_\_&\_\_\_\_\\(c) & \text{Paid rent for the curent month} &\_\_\_\_&\_\_\_\_&\_\_\_\_\\(d) & \text{Received cash for services sold to customers} &\_\_\_\_&\_\_\_\_&\_\_\_\_\\(e) & \text{Returned some defective supplies purchased in (b)} &\_\_\_\_&\_\_\_\_&\_\_\_\_\\(f) & \text{Paid insuratice premiums in advance} &\_\_\_\_&\_\_\_\_&\_\_\_\_\\(g) & \text{Paid cash to creclitor for purchases in(b)} &\_\_\_\_&\_\_\_\_&\_\_\_\_\\(h) & \text{Charged customers for services sold on account} &\_\_\_\_&\_\_\_\_&\_\_\_\_\\(i) & \text{Paid cash to a customer as a refund for an overcharge} &\_\_\_\_&\_\_\_\_&\_\_\_\_\\(j) & \text{Received cash on account from customers} &\_\_\_\_&\_\_\_\_&\_\_\_\_\\(k) & \text{Owner withdrew cash for personal use} &\_\_\_\_&\_\_\_\_&\_\_\_\_\\(I) & \text{Recorded the cost of supplies used during the year} &\_\_\_\_&\_\_\_\_&\_\_\_\_\\(m) & \text{Received invoice for electricity used} &\_\_\_\_&\_\_\_\_&\_\_\_\_\\(n) & \text{Paidwages} &\_\_\_\_&\_\_\_\_&\_\_\_\_\\(o) & \text{Purchased a truck for cash} &\_\_\_\_&\_\_\_\_&\_\_\_\_\end{array}


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