11 14 Transaction Analysis1 Jan 12 ✓ Solved

11-â€14. (Transaction Analysis) 1. Jan. 12 Assets (A) = Liabilities (L) + Net Assets (NA) Cash + 0,000 = No change + No change Pledges receivable – 0,000 Date Dr. Cr. 1/12 Cash 0,000 Pledges receivable 0,000 Collection of pledges 2.

Feb. 4 No journal entry. There has been no exchange by either party. 3. Mar.

1 Assets (A) = Liabilities (L) + Net Assets (NA) Cash Grant Expense – ,000 = – ,000 Date Dr. Cr. 3/1 Grant Expense ,000 Cash $ 50,000 Pay grant to GARCH 4. May 29 Assets (A) = Liabilities (L) + Net Assets (NA) Deposit + ,000 = No change + No change Cash – ,000 Date Dr. Cr.

5/29 Deposit ,000 Cash ,000 Deposit on ordered partitions 5. Jun. 12 Assets (A) = Liabilities (L) + Net Assets (NA) Cash Donation revenue + ,000 = + + ,000 Date Dr. Cr. 6/12 Cash ,000 Donation revenue ,000 Donation revenue.

6. Sept. 1 Assets (A) = Liabilities (L) + Net Assets (NA) Inventory Accounts payable + ,000 = + ,000 + No change Cash – ,000 Date Dr. Cr. 9/1 Inventory ,000 Cash ,000 Accounts payable 30,000 Purchase bookstore inventory.

7. Oct. 15 Assets (A) = Liabilities (L) + Net Assets (NA) PPE + ,000 = No change + No change Deposit – ,000 Cash – ,000 Date Dr. Cr. 10/15 PPE ,000 Deposit $ 5,000 Cash 10,000 Received partitions (property, plant, and equipment) 8.

Nov. 10 Assets (A) = Liabilities (L) + Net Assets (NA) Cash = Notes payable No change + ,000 + ,000 Date Dr. Cr. 11/10 Cash ,000 Notes payable ,000 Borrow with note payable. 9.

Dec. 5 Assets (A) = Liabilities (L) + Net Assets (NA) Cash = Notes payable Interest expense – ,000 – ,000 –