For each item below, indicate whether a debit (DR)or credit (CR) applies.????
1. Decrease in Prepaid Rent ?
2. ?. Increase in Unearned Revenue ??
3. ?. Increase in Accounts Payable ??
4. . Increase in Dividends ??
5. . Increase in Dividend Receivable ??
6.Increase in Wages expense ?
6. ?Increase in Accounts Receivable ?
7. ? Decrease in Supplies ??
8. Increase in Accumulated Depreciation???
9. Increase in Copyrights
Prepare, in good form, journal entries for the following transactions from Buster Brown Corporation.???
May 1 Stockholders invest $40,000 cash to start the business.??
May 2 Purchased equipment for $100,000, paying $20,000 and signing a five-year, 6% note for the remainder.?
?May 3 Purchased $2,000 of paper supplies on account.??
May 4 Cash received for services amounted to $5,500.?
?5. Paid $800 for radio advertising.??
6. Paid $500 on account for paper supplies purchased on May 3rd.
?7. Dividends of $200 were paid to stockholders.?
?8. Paid $600 for the current month's rent.?
?9. Received $2,000 cash advance from a customer. ??
10. Billed a customer for $900 for services completed.??
?The company's chart of accounts includes: Cash, Accounts Receivable, Paper Supplies, Equipment, Accounts Payable, Notes Payable, Unearned Revenue, Common Stock, Retained Earnings, Dividends, Service Revenue, Advertising Expense, Paper Supplies Expense, and Rent Expense.