APPLICATION PROBLEM 1-4 Student's Name: (Your Name) 2

You have 2 item(s) remaining to answer correctly.

Assets = Liabilities + Owner's Equity Assets = Liabilities + Owner's Equity

Accts.
Accts.
Trans. No. Accts. Rec.-- Accts. Pay.-- Trans. No. Rec.--
Prepaid Shannon O'Bryan, Prepaid Pay.-- Shannon O'Bryan,
Cash + Eden Wedding + Supplies + = Shutter + Cash + Eden + Supplies + = +
Insurance Capital Insurance Shutter Capital
Planners Supplies Wedding
Supplies
Planners
Beg. Bal. 725 0 200 300 200 1,025 Beg. Bal. 725 0 200 300 200 1,025
1. -400 -400 Expense 1. -400 -400 Expense
Beg. Bal. 325 0 200 300 200 625 Beg. Bal. 325 0 200 300 200 625
2. -150 0 0 0 0 -150 withdrew 2. -150 -150 Withdrawal
Beg. Bal. 175 0 200 300 200 475 Beg. Bal. 175 0 200 300 200 475
3. 900 0 0 0 0 900 revenue 3. 900 900 Revenue
Beg. Bal. 1,075 0 200 300 200 1,375 Beg. Bal. 1,075 0 200 300 200 1,375
4. -100 0 0 0 0 -100 Expense 4. -100 -100 Expense
Beg. Bal. 975 0 200 300 200 1,275 Beg. Bal. 975 0 200 300 200 1,275
5. 0 400 0 0 0 400 revenue 5. 400 400 Revenue
Beg. Bal. 975 400 200 300 200 1,675 Beg. Bal. 975 400 200 300 200 1,675
6. 650 0 0 0 0 650 revenue 6. 650 650 Revenue
Beg. Bal. 1,625 400 200 300 200 2,325 Beg. Bal. 1,625 400 200 300 200 2,325
7. -35 0 0 0 0 -35 Expense 7. -35 -35 Expense
Beg. Bal. 1,590 400 200 300 200 2,290 Beg. Bal. 1,590 400 200 300 200 2,290
8. 300 -300 0 0 0 no effect 8. 300 -300 (no effect)
New Bal. 1,890 100 200 300 200 2,290 New Bal. 1,890 100 200 300 200 2,290

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