Name Date Class

Problem 5-5 Analyzing Transactions

into Debit and Credit Parts (textbook p. 123)

Cash in Bank Accts. Rec.—Juan Alvarez Grooming Equipment

Balance 15,000 (1) 12,700 (7) 775 (1) 12,700
(3) 1,850 (2) 125 (5) 75
(4) 150
(6) 150
(8) 325
(9) 115

Balance 3,285 Balance 775 Balance 12,775

Accts. Pay.—Dogs & Cats Inc. Abe Shultz, Capital Abe Shultz, Withdrawals
(5) 75 Balance 15,000 (6) 150

Balance 75 Balance 15,000 Balance 150

Boarding Revenue Grooming Revenue Advertising Expense

(3) 1,850 (7) 775 (2) 125

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Balance 1,850 Balance 775 Balance 125

Equipment Repair Expense Maintenance Expense Rent Expense

(4) 150 (8) 325

Balance 150 Balance -0- Balance 325

44 ■ Chapter 5
 Name Date Class

Problem 5-5 (concluded)

Utilities Expense
(9) 115

Balance 115
Analyze: Transaction 6 affects owner’s equity.

Problem 5-6 Analyzing Transactions

into Debit and Credit Parts (textbook p. 124)

(1), (2), (3)

Cash in Bank Accts. Rec.—Mary Johnson Rafting Equipment

(1) 12,000 (4) 123 (3) 750 (2) 3,750
(6) 225 (5) 95
(10) 250 (7) 225
(8) 1,750
(9) 250

Balance 10,032 Balance 750 Balance 3,750

Accts. Pay.—Peak Equip. Inc. Juanita Ortega, Capital Juanita Ortega, Withdrawals
(8) 1,750 (2) 3,750 (1) 12,000 (9) 250
Copyright © by The McGraw-Hill Companies. All rights reserved.

Balance 2,000 Balance 12,000 Balance 250

Guide Service Revenue Maintenance Expense Rent Expense

(3) 750 (4) 123 (7) 225
(6) 225
(10) 250

Balance 1,225 Balance 123 Balance 225

Chapter 5 ■ 45
Name Date Class

Problem 5-6 (concluded)

Utilities Expense
(5) 95

Balance 95
(4) Debit Credit
Account Name Balances Balances
Cash in Bank $ 10,032 $
Accounts Receivable—Mary Johnson 750
Rafting Equipment 3,750
Accounts Payable—Peak Equip. Inc. 2,000
Juanita Ortega, Capital 12,000
Juanita Ortega, Withdrawals 250
Guide Service Revenue 1,225
Maintenance Expense 123
Rent Expense 225
Utilities Expense 95
Totals $ 15,225 $ 15,225
Analyze: Total revenue earned was $1,225.

Copyright © by The McGraw-Hill Companies. All rights reserved.

Problem 5-7 Analyzing Transactions (textbook p. 125)

(1), (2), (3)

Accounts Receivable— Accounts Receivable—

Cash in Bank G. Cohen J. Coletti
(1) 17,500 (4) 750 (6) 67
(7) 233 (5) 265
(12) 264 (8) 125
(9) 375
(10) 150
(11) 45
Balance 16,287 Balance 67

46 ■ Chapter 5
 Name Date Class

Problem 5-7 (continued)

Accounts Payable—
Computer Equipment Video Tapes Computer Horizons
(2) 2,400 (3) 375 (2) 2,400
(5) 265

Balance 2,400 Balance 640 Balance 2,400

Accounts Payable—
New Media Suppliers Greg Failla, Capital Greg Failla, Withdrawals
(9) 375 (3) 375 (1) 17,500 (10) 150

Balance -0- Balance 17,500 Balance 150

Video Rental Revenue VCR Rental Revenue Equipment Repair Expense

(7) 233 (6) 67 (11) 45
(12) 264
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Balance 233 Balance 331 Balance 45

Rent Expense Utilities Expense

(4) 750 (8) 125

Balance 750 Balance 125

Chapter 5 ■ 47
Name Date Class

Problem 5-7 (concluded)

(4) Account Name Debit Balances Credit Balances
Cash in Bank $ 16,287 $
Accounts Receivable—G. Cohen 67
Accounts Receivable—J. Coletti -0-
Computer Equipment 2,400
Video Tapes 640
Accounts Payable—Computer Horizons 2,400
Accounts Payable—New Media Suppliers -0-
Greg Failla, Capital 17,500
Greg Failla, Withdrawals 150
Video Rental Revenue 233
VCR Rental Revenue 331
Equipment Repair Expense 45
Rent Expense 750
Utilities Expense 125
Totals $ 20,464 $ 20,464

Analyze: Accounts Payable–Computer Horizons, Accounts Payable–New Media Suppliers,

and Greg Failla, Capital.

Problem 5-8 Completing the Accounting Equation (textbook p. 126)

Owner’s

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Assets = Liabilities + Equity – Withdrawals + Revenue – Expenses
1. $64,400 $ 8,200 $56,300 $ 500 $10,000 $ 9,600
2. 22,150 525 18,800 1,200 12,100 8,075
3. 17,500 75 21,650 5,090 4,115 3,250
4. 49,450 420 47,840 1,500 20,300 17,610
5. 21,900 1,150 20,005 950 18,265 16,570
6. 72,640 2,790 52,441 10,750 67,908 39,749
7. 46,599 1,988 41,194 6,196 52,210 42,597
8. 78,028 3,840 61,774 6,112 40,163 21,637
(Expenses plus withdrawals equal $27,749.)
9. 64,070 13,427 49,102 4,875 53,166 46,750
(Total owner’s equity after adding revenue and subtracting expenses and withdrawals is $50,643.)
Analyze: The sum of owner’s equity is $44,611.
48 ■ Chapter 5