Use the following format, in which the January 2 transaction is given as an example.
Account Debited Account Credited
_____________________________________________________________________________________ (a) (b) (c) (d) (a) (b) (c) (d)
Basic Specific Normal Basic Specific Normal
Date Type Account Effect Balance Type Account Effect Balance
---------------------------------------------------------------------------------------------------------------------------------------------
Jan. 2 Asset Cash Increase Debit Stock- Common Increase Credit
holders’ Stock
Equity
Account Debited Account Credited
_____________________________________________________________________________________ (a) (b) (c) (d) (a) (b) (c) (d)
Basic Specific Normal Basic Specific Normal
Date Type Account Effect Balance Type Account Effect Balance
---------------------------------------------------------------------------------------------------------------------------------------------
Jan. 2 Asset Cash Increase Debit Stock- Common Increase Credit
holders’ Stock
Equity