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Submitted By antoniosummers
Words 7759
Pages 32
ANALYZING TRANSACTIONS
QUESTION INFORMATION

|Number |
|Apr. 1 Bal. 18,750 | 219,140 Cash payments |
|Cash receipts ? | |
|Apr. 30 Bal. 22,175 | |
| | |

$22,175 = $18,750 + Cash receipts – $219,140
Cash receipts = $22,175 + $219,140 – $18,750 = $222,565
PE 2–5B

Using the following T account, solve for the amount of supplies expense (indicated by ? below).

|Supplies |
|Jan. 1 Bal. 1,035 | ? Supplies expense |
|Cash receipts 2,325 | |
|Jan. 31 Bal. 786 | |
| | |

$786 = $1,035 + $2,325 – Supplies expense
Supplies expense = $1,035 + $2,325 – $786 = $2,574

PE 2–6A

a. The totals are equal since both the debit and credit entries were journalized and posted for $486.

b. The totals are unequal. The debit total is higher by $2,260 ($1,130 + $1,130).

c. The totals are unequal. The credit total is higher by $90 ($2,540 – $2,450).

PE 2–6B

a. The totals are unequal. The credit total is higher by $300 ($1,312 – $1,012).

b. The totals are equal since both the debit and credit entries were journalized and posted for $4,500.

c. The totals are unequal. The

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