Question

Bratt Plumbing Company had the following transactions for June.

June 1		Paid $555 for rent for the month of June.
2		Paid $225 for one month of insurance.
5		Collected $1,325 for plumbing services provided.
9		Provided Jeff Dupuis, a potential customer, with an estimate of $405 for plumbing work that will be performed in July if the customer hires Bratt Plumbing.
14		Paid $710 for supplies purchased on account in May. The purchase in May had been correctly recorded.
17		Billed Rudy Holland $1,390 for plumbing work performed.
19		Jeff Dupuis agreed to hire Bratt Plumbing (see the June 9 transaction) and gave Bratt Plumbing a down payment of $85.
29		Purchased $1,555 of equipment on account.
30		Paid an employee $760.
30		Paid D. Bratt, the company owner, $1,440.

For each transaction, prepare a basic analysis and a debit/credit analysis. (If no entry is required, select "No Entry" for the specific accounts and enter 0 for the amounts, leave other fields blank.)

Date				Basic Type		Increase/Decrease		Specific Account		Amount
June 1		Debit								$
		Credit								$
2		Debit								$
		Credit								$
5		Debit								$
		Credit								$
9		Debit								$
		Credit								$
14		Debit								$
		Credit								$
17		Debit								$
		Credit								$
19		Debit								$
		Credit								$
29		Debit								$
		Credit								$
30		Debit								$
		Credit								$
30		Debit								$
		Credit								$

Options

Basic type: Revenue / Liability / Owner's Equity / Asset / Drawings / Expense

Increase/decrease: Increase / Decrease

Specific Account:  Accounts Payable / Accounts Receivable / Advertising Expense / Cash / D. Bratt, Capital / D. Bratt, Drawings / Equipment / Insurance Expense / No Entry / Notes Payable / Prepaid Insurance / Rent Expense / Salaries Expense / Service Revenue / Supplies / Unearned Revenue / Utilities Expense / Vehicles

Answer 1

Explanation:

Date				Basic Type		Increase/Decrease		Specific Account		Amount
June 1		Debit		Expense		Increase		Rent Expense		$555
		Credit		Asset		Decrease		Cash		$555
2		Debit		Expense		Increase		Insurance Expense		$225
		Credit		Asset		Decrease		Cash		$225
5		Debit		Asset		Increase		Cash		$1,325
		Credit		Revenue		Increase		Service Revenue		$1,325
9		Debit						No entry		$0
		Credit						No entry		$0
14		Debit		Liability		Decrease		Account Payable		$710
		Credit		Asset		Decrease		Cash		$710
17		Debit		Asset		Increase		Account Receivable		$1,390
		Credit		Revenue		Increase		Service Revenue		$1,390
19		Debit		Asset		Increase		Cash		$85
		Credit		Liability		Increase		Unearned Revg		$85
29		Debit		Assets		Increase		Equipment		$1,555
		Credit		Liability		Increase		Accounts Payable		$1,555
30		Debit		Expense		Increase		Salaries Exp.		$760
		Credit		Asset		Increase		Cash		$760
30		Debit		Drawing		Increase		D.bratt drawing		$1440
		Credit		Asset		Decrease		Cash		$ 1440