44 simon s graphic design company had the following transactions in the month of apr 4351938

44) Simon’s Graphic Design Company had the following transactions in the month of April.  After analyzing, state the impact on cash.

Example: April 5     Completed services for customers who paid cash.

Example:

Answer: Cash would increase.

April 8Completed services for a major customer and invoiced the customer $1,000.

April 20Received a bill from the utilities company for April utilities for $70.

The amount is due next month.

April 31Received $600 cash from the customer billed on April 8.

45) For each of the following items indicate in the column whether the item is an asset (A), liability (L), or Shareholders' Equity (SE).

Accounts payable

Accounts receivable

Building and equipment

Cash

Insurance expense

Interest expense

Interest payable

Mortgage payable

Other assets

Rental revenue

Repair expenses

Telephone expense

Wages expense

46) Label each of the following items with its location in the accounting equation.

Asset

Liability

Shareholders' Equity

Revenue

Expenses

Account

Type of Account

Revenue

Utilities Expense

Cash

Accounts Payable

Account Receivable

Office Supplies

Wages Expense

Common Shares

Notes Payable

Advertising Expense

Supplies Expense

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