Transaction Analysis Practice Worksheet
Date Transaction Accounts (Dr/Cr) Increase/Decrease Assets Liabilities Equity
1. Invested $10,000 cash into the business.
2. Purchased office supplies for $500 cash.
3. Bought equipment for $2,000 on account.
4. Paid $300 for rent in cash.
5. Earned $1,200 service revenue in cash.
6. Paid $200 to creditors on account.
7. Withdrew $400 cash for personal use.
8. Earned $800 service revenue on account.
9. Collected $600 cash from a customer on account.
10. Paid $150 for utilities in cash.
Transaction Analysis - Answer Key
Date Transaction Accounts (Dr/Cr) Increase/Decrease Assets Liabilities Equity
1. Invested $10,000 cash into the business.
Cash (Dr), Owner’s Equity (Cr) Increase +10,000 +10,000
2. Purchased office supplies for $500 [Link] (Dr), Cash (Cr) Decrease/Increase -500/+500
3. Bought equipment for $2,000 on account.
Equipment (Dr), Accounts Payable (Cr)Increase +2,000 +2,000
4. Paid $300 for rent in cash. Rent Expense (Dr), Cash (Cr)Decrease/Increase -300 -300
5. Earned $1,200 service revenue in cash.
Cash (Dr), Service Revenue (Cr) Increase +1,200 +1,200
6. Paid $200 to creditors on account.
Accounts Payable (Dr), Cash (Cr) Decrease -200 -200
7. Withdrew $400 cash for personal use.
Owner’s Drawings (Dr), Cash (Cr) Decrease -400 -400
8. Earned $800 service revenueAccounts
on account.
Receivable (Dr), Service RevenueIncrease
(Cr) +800 +800
9. Collected $600 cash from a customer on
Cash
account.
(Dr), Accounts Receivable Increase/Decrease
(Cr) +600/-600
10. Paid $150 for utilities in cash. Utilities Expense (Dr), Cash (Cr)
Decrease/Increase -150 -150