Account Titles and Explanation | Debit | Credit |
Depreciation ExpenseToso, DrawingsDecker, DrawingsGain on RealizationAllowance for Doubtful AccountsSalaries ExpenseEquipmentAccounts PayableDecker, CapitalAccounts ReceivableAccumulated Depreciation - EquipmentToso, CapitalNet (Loss) IncomeIncome SummaryInventoryNotes PayableLoss on RealizationBuildingsRosen, CapitalRosen, DrawingsLandCash | | |
Rosen, CapitalNet (Loss) IncomeAccounts ReceivableIncome SummaryCashGain on RealizationInventoryAccumulated Depreciation - EquipmentSalaries ExpenseLandAccounts PayableBuildingsDepreciation ExpenseEquipmentDecker, CapitalAllowance for Doubtful AccountsDecker, DrawingsRosen, DrawingsLoss on RealizationToso, CapitalNotes PayableToso, Drawings | | |
(To record investment of Decker.) | | |
Depreciation ExpenseCashNet (Loss) IncomeAccumulated Depreciation - EquipmentLandAccounts PayableGain on RealizationDecker, DrawingsAccounts ReceivableBuildingsLoss on RealizationNotes PayableToso, DrawingsToso, CapitalRosen, CapitalEquipmentRosen, DrawingsIncome SummarySalaries ExpenseDecker, CapitalInventoryAllowance for Doubtful Accounts | | |
Toso, CapitalIncome SummaryBuildingsAllowance for Doubtful AccountsAccounts ReceivableDepreciation ExpenseGain on RealizationAccumulated Depreciation - EquipmentAccounts PayableEquipmentRosen, CapitalRosen, DrawingsDecker, CapitalSalaries ExpenseLandInventoryNotes PayableDecker, DrawingsCashNet (Loss) IncomeToso, DrawingsLoss on Realization | | |
Income SummaryAccounts PayableEquipmentRosen, DrawingsLandNotes PayableToso, CapitalAccounts ReceivableDecker, DrawingsGain on RealizationAccumulated Depreciation - EquipmentSalaries ExpenseAllowance for Doubtful AccountsInventoryLoss on RealizationCashRosen, CapitalNet (Loss) IncomeDecker, CapitalBuildingsDepreciation ExpenseToso, Drawings | | |
(To record investment of Rosen.) | | |
Allowance for Doubtful AccountsLoss on RealizationCashAccounts ReceivableAccumulated Depreciation - EquipmentDecker, CapitalIncome SummaryNotes PayableToso, DrawingsRosen, DrawingsRosen, CapitalDecker, DrawingsInventoryDepreciation ExpenseEquipmentGain on RealizationAccounts PayableLandNet (Loss) IncomeToso, CapitalBuildingsSalaries Expense | | |
Net (Loss) IncomeGain on RealizationAccounts ReceivableRosen, CapitalLandEquipmentSalaries ExpenseAccounts PayableRosen, DrawingsInventoryLoss on RealizationToso, CapitalDecker, CapitalAllowance for Doubtful AccountsDepreciation ExpenseAccumulated Depreciation - EquipmentBuildingsIncome SummaryDecker, DrawingsCashToso, DrawingsNotes Payable | | |
Rosen, DrawingsNotes PayableLandGain on RealizationToso, CapitalAllowance for Doubtful AccountsRosen, CapitalDecker, DrawingsNet (Loss) IncomeEquipmentLoss on RealizationBuildingsDepreciation ExpenseSalaries ExpenseInventoryCashToso, DrawingsAccumulated Depreciation - EquipmentDecker, CapitalAccounts ReceivableAccounts PayableIncome Summary | | |
Rosen, CapitalToso, DrawingsLandLoss on RealizationSalaries ExpenseNet (Loss) IncomeDepreciation ExpenseAccumulated Depreciation - EquipmentAccounts PayableNotes PayableDecker, CapitalAccounts ReceivableInventoryGain on RealizationToso, CapitalIncome SummaryCashDecker, DrawingsRosen, DrawingsEquipmentBuildingsAllowance for Doubtful Accounts | | |
Rosen, CapitalAccounts PayableSalaries ExpenseNet (Loss) IncomeAccounts ReceivableCashIncome SummaryToso, DrawingsToso, CapitalGain on RealizationNotes PayableInventoryLoss on RealizationAllowance for Doubtful AccountsLandDecker, DrawingsAccumulated Depreciation - EquipmentDepreciation ExpenseBuildingsEquipmentRosen, DrawingsDecker, Capital | | |
(To record investment of Toso.) | | |