Review the transactions and determine the accounts, the account types (use assets; liabilities; owner, capital; owner, withdrawals; revenue; and expenses), if they increase/decrease and if they are DR/CR. List accounts in order they would be in the journal entry.
Homework Answers
| 1 | ||||
| a. | Account #1 | Account Type | Increase/Decrease | Debit/Credit |
| Cash | Assets | Increase | Debit | |
| Account #2 | Account Type | Increase/Decrease | Debit/Credit | |
| Unearned services revenue | Liabilities | Increase | Credit | |
| b. | Account #1 | Account Type | Increase/Decrease | Debit/Credit |
| Building | Assets | Increase | Debit | |
| Account #2 | Account Type | Increase/Decrease | Debit/Credit | |
| Note payable | Liabilities | Increase | Credit | |
| c. | Account #1 | Account Type | Increase/Decrease | Debit/Credit |
| Rent Expense | Expenses | Increase | Debit | |
| Account #2 | Account Type | Increase/Decrease | Debit/Credit | |
| Cash | Assets | Decrease | Credit | |
| d. | Account #1 | Account Type | Increase/Decrease | Debit/Credit |
| Truck | Assets | Increase | Debit | |
| Account #2 | Account Type | Increase/Decrease | Debit/Credit | |
| Note payable | Liabilities | Increase | Credit | |
| e. | Account #1 | Account Type | Increase/Decrease | Debit/Credit |
| Cash | Assets | Increase | Debit | |
| Account #2 | Account Type | Increase/Decrease | Debit/Credit | |
| Service revenue | Revenue | Increase | Credit | |
| 2 | ||||
| a. | ||||
| Date | Accounts and Explanation | Debit | Credit | |
| Nov. 3 | Office Supplies | $7,000 | ||
| Accounts Payable | $7,000 | |||
| Nov. 4 | Cash | $8,000 | ||
| Accounts Receivable | $8,000 | |||
| Nov. 5 | Accounts Receivable | $9,000 | ||
| Service Revenue | $9,000 | |||
| Nov. 5 | Salaries Expense | $9,000 | ||
| Cash | $9,000 | |||
| Nov. 5 | Prepaid Insurance | $8,000 | ||
| Cash | $8,000 | |||
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Review the transactions and determine the accounts, the account
types (use assets; liabilities; owner, capital; owner,...
Review the transactions and determine the accounts, the account types (use assets, liabilities, common stock, dividends,...
Review the transactions and determine the accounts, the account types (use assets, liabilities, common stock, dividends, revenue, and expenses), if they increase/decrease and if they are DR/CR. List accounts in order they would be in the journal entry. Refer to the Chart of Accounts for account titles. Declared and paid cash dividend. Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit Paid for repairs to the company truck Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account...
HIN Activity 2.b - Analyze the Transactions Review the transactions and determine the accounts, the account...
HIN Activity 2.b - Analyze the Transactions Review the transactions and determine the accounts, the account types (use assets; liabilities: owner, capital; owner, withdrawals; revenue; and expenses), if they increase/decrease and if they are DR/CR. List accounts in order they would be in the journal entry. Refer to the Chart of Accounts for account titles. Accrued liability for utilities, Debit/Credit Incre/Decrease Account #1 Account Type Increase/Decrease Debit/Credit Account Type Account #2 Paid for a one year insurance policy Account #1...
Activity 2.a - Analyze the Transactions Review the transactions and determine the accounts, the account types,...
Activity 2.a - Analyze the Transactions Review the transactions and determine the accounts, the account types, if they increase/decrease and if they are DR/CR. List accounts in order they would be in the journal entry. 2 Н Provided services on account Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit Owner contribution of furniture in exchange for common stock Account 1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit Pald for a one year insurance...
Review the transactions and determine the accounts, the account types (use assets, liabilities, common stock, dividends,...
Review the transactions and determine the accounts, the account types (use assets, liabilities, common stock, dividends, revenue, and expenses), if they increase/decrease and if they are DR/CR. List accounts in order they would be in the journal entry. Purchased equipment on account Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit Paid cash for salaries Account #1 Account Type Increase/Decrease Debit/Credit Paid cash for salaries Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit...
Review the transactions and determine the accounts, the account types (use assets, liabilities, equity, dividends, revenue,...
Review the transactions and determine the accounts, the account types (use assets, liabilities, equity, dividends, revenue, and expenses), if they increase/decrease and if they are DR/CR. Check your spelling carefully and do not abbreviate. Refer to the for account titles Provided services on account. Account Name Account Type Increase/Decrease Debit/Credit Purchase of building with note Account Name Account Type Increase/Decrease Debit/Credit Enter the following transactions as journal entries. Record debits first, then credits Received $7,000 utility bill to be paid...
Review the transactions and determine the accounts, the account types (use assets, liabilities, common stock, dividends,...
Review the transactions and determine the accounts, the account types (use assets, liabilities, common stock, dividends, revenue, and expenses), if they increase/decrease and if they are DR/CR. List accounts in order they would be in the journal entry. Collected cash for services Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit Received cash for services rendered to a client Received cash for services rendered to a client Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type...
Activity 2.2 - Analyze the Transactions Review the transactions and determine the accounts, the account types,...
Activity 2.2 - Analyze the Transactions Review the transactions and determine the accounts, the account types, if they increase/decrease and if they are DR/CR. List accounts in order they would be in the journal entry. Paid for repairs to the company truck Increase/Decrease Debit/Credit Account Account Type Increase/Decrease Debit/Credit Account 2 Account Type Paid cash for salaries increase Decrease Deba/Credit Account Account Type EN
the transactions and determine the accounts, the account types ssets, liabilities, common stock, dividends, revenue, and...
the transactions and determine the accounts, the account types ssets, liabilities, common stock, dividends, revenue, and expenses), increase/decrease and if they are DR/CR. List accounts in order ould be in the journal entry. Paid for repairs to the company truck Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit Prepaid for rent. . Account ACCA1
Activity 2.a - Analyze the Transactions Review the transactions and determine the accounts, the account types,...
Activity 2.a - Analyze the Transactions Review the transactions and determine the accounts, the account types, if they increase/decrease and if they are DR/CR. List accounts in the order they would be in the journal entry. Purchased office supplies on account Account #1 Account Type Increase/Decrease Debit/Credit Common Stock Debit Account #2 Account Type Increase/Decrease Debit/Credit Accounts Receivable Received cash on account from a customer. Accounta Account Type Increase/Decrease Debit/Credit Account az Account Type increase/Decrease Debit/Credit Earned 590,000 by establishing...
Activity 2.a - Analyze the Transactions Review the transactions and determine the accounts, the account types,...
Activity 2.a - Analyze the Transactions Review the transactions and determine the accounts, the account types, if they increase/decrease and if they are DR/CR. List accounts in order they would be in the journal entry. Paid cash for land. Account #1 Accounts PayableAccounts ReceivableAdvertising ExpenseBuildingCashCommon StockDividendsEquipmentFurnitureLandNotes PayableOffice FurnitureOffice SuppliesPrepaid InsurancePrepaid RentRent ExpenseRepairs ExpensesRetained EarningsSalaries ExpenseService RevenueTruckUtilities ExpenseUtilities PayableUnearned Revenue Account Type AssetExpenseLiabilityCommon StockRevenueDividends Increase/Decrease IncreaseDecrease Debit/Credit DebitCredit Account #2 Accounts PayableAccounts ReceivableAdvertising ExpenseBuildingCashCommon StockDividendsEquipmentFurnitureLandNotes PayableOffice FurnitureOffice SuppliesPrepaid InsurancePrepaid RentRent ExpenseRepairs...
Review the transactions and determine the accounts, the account types (use assets, liabilities, common stock, dividends, revenue, and expenses), if they increase/decrease and if they are DR/CR. List accounts in order they would be in the journal entry. Refer to the Chart of Accounts for account titles. Declared and paid cash dividend. Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit Paid for repairs to the company truck Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account...
HIN Activity 2.b - Analyze the Transactions Review the transactions and determine the accounts, the account types (use assets; liabilities: owner, capital; owner, withdrawals; revenue; and expenses), if they increase/decrease and if they are DR/CR. List accounts in order they would be in the journal entry. Refer to the Chart of Accounts for account titles. Accrued liability for utilities, Debit/Credit Incre/Decrease Account #1 Account Type Increase/Decrease Debit/Credit Account Type Account #2 Paid for a one year insurance policy Account #1...
Activity 2.a - Analyze the Transactions Review the transactions and determine the accounts, the account types, if they increase/decrease and if they are DR/CR. List accounts in order they would be in the journal entry. 2 Н Provided services on account Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit Owner contribution of furniture in exchange for common stock Account 1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit Pald for a one year insurance...
Review the transactions and determine the accounts, the account types (use assets, liabilities, common stock, dividends, revenue, and expenses), if they increase/decrease and if they are DR/CR. List accounts in order they would be in the journal entry. Purchased equipment on account Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit Paid cash for salaries Account #1 Account Type Increase/Decrease Debit/Credit Paid cash for salaries Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit...
Review the transactions and determine the accounts, the account types (use assets, liabilities, equity, dividends, revenue, and expenses), if they increase/decrease and if they are DR/CR. Check your spelling carefully and do not abbreviate. Refer to the for account titles Provided services on account. Account Name Account Type Increase/Decrease Debit/Credit Purchase of building with note Account Name Account Type Increase/Decrease Debit/Credit Enter the following transactions as journal entries. Record debits first, then credits Received $7,000 utility bill to be paid...
Review the transactions and determine the accounts, the account types (use assets, liabilities, common stock, dividends, revenue, and expenses), if they increase/decrease and if they are DR/CR. List accounts in order they would be in the journal entry. Collected cash for services Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit Received cash for services rendered to a client Received cash for services rendered to a client Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type...
Activity 2.2 - Analyze the Transactions Review the transactions and determine the accounts, the account types, if they increase/decrease and if they are DR/CR. List accounts in order they would be in the journal entry. Paid for repairs to the company truck Increase/Decrease Debit/Credit Account Account Type Increase/Decrease Debit/Credit Account 2 Account Type Paid cash for salaries increase Decrease Deba/Credit Account Account Type EN
the transactions and determine the accounts, the account types ssets, liabilities, common stock, dividends, revenue, and expenses), increase/decrease and if they are DR/CR. List accounts in order ould be in the journal entry. Paid for repairs to the company truck Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit Prepaid for rent. . Account ACCA1
Activity 2.a - Analyze the Transactions Review the transactions and determine the accounts, the account types, if they increase/decrease and if they are DR/CR. List accounts in the order they would be in the journal entry. Purchased office supplies on account Account #1 Account Type Increase/Decrease Debit/Credit Common Stock Debit Account #2 Account Type Increase/Decrease Debit/Credit Accounts Receivable Received cash on account from a customer. Accounta Account Type Increase/Decrease Debit/Credit Account az Account Type increase/Decrease Debit/Credit Earned 590,000 by establishing...
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