Hospitality Industry Financial Accounting 3rd Edition 1

Chapter 2
Problem 1 Account

Accounting for Business Transactions

Cash Accounts Receivable Rent Expense Jacob, Capital Accounts Payable Room Revenue Interest Income Wages Expense Taxes Expense Water Expense Notes Payable Laundry Expense Problem 2 3/31 (a) (b) 6,020.20 (c) (d) (e) (f) (g) 3,600.98 180.26 3,781.24 5,100.00 8,881.24 $8,881.24 Cash $6,700.00 1,750.20 8,450.20

Normal Balance Debit Debit Debit Credit Credit Credit Credit Debit Debit Debit Credit Debit

$2,430.00 2,419.22

Transactions (d) and (g) do not affect the cash account.