Below Are Listed Several Transactions of Patricia Company During 2013

question 30

Essay

Below are listed several transactions of Patricia Company during 2013.
1. Provided services to customers for cash, $35,000
2. Purchased land by paying cash, $16,000
3. Paid rent for 6 months, $12,000
4. Acquired cash of $25,000 by issuing common stock
5. Purchased office supplies on account, $2,700
6. Receive payment of $6,000 from a customer for services that will be provided over the next six months
Required:
a) Prepare journal entries for each of the preceding transactions, using the general journal below. b) Show how each transaction affects the financial statements model. Include dollar amounts of increases and decreases; indicate NA for not affected. In the Cash Flow column, use the letters OA for operating activities, IA for investing activities, and FA for financing activities.

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Definitions:

Circulatory System

The bodily system responsible for the transport of blood, nutrients, gases, and wastes, involving the heart, blood vessels, and blood.

Responsive To Sounds

The ability or tendency to react or respond to auditory stimuli.

Embryonic Development

The process by which the embryo forms and develops, starting from fertilization through to the fetal stage.

Bone Cells

Specialized cells that compose bone tissue, responsible for the formation, maintenance, and remodeling of bones.