Homework Answers
The correct option is B i.e Account Receivable Assets, Increases; Consulting Revenues, Equity-Revenue Increases.
Explanation:
Account receivable is an asset (having debit balance), so when asset is debited it increases.
The consulation service provided is an revenue which is shown in income statement. So when revenue increases net income also increases and when net income increases, equity also increase bacause income is added to equity reserve.
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Question 5 For the journal entry-Dr Accounts Receivable 4800; C. Consulting Revenues 4800 what is the...
Question 10 For the journal entry-- Dr. Accounts Receivable 4800; Cr. Consulting Revenues 4800, what is...
Question 10 For the journal entry-- Dr. Accounts Receivable 4800; Cr. Consulting Revenues 4800, what is the correct analysis of the journal entry? A Accounts Receivable Asset Increases: Consulting Revenues, Equity-Revenue Decreases 6. Accounts Receivable Asset, Increases, Consulting Revenues, Equity Revenue Increase Accounts Receivable, Asset, Decreases Consulting Revenues, Equity-Revenue increases O D. Accounts Receivable, Asset Decreases Consulting Revenues, Equity-Expense Increases E. None of the above Moving to the next question prevents changes to this answer.
Moving to the next question prevents changes to this answer. Question 13 For the journal entry--...
Moving to the next question prevents changes to this answer. Question 13 For the journal entry-- Dr. Cash 20000: Cr. Ruiz Capital 20000, what is the correct analysis of the journal entry? O A Cash, Asset, increases, Luis Ruiz, Equity. Capital, Decreases B. Cash, Asset, Increases, Luis Ruiz, Equity Capital, Increases O C Cash, Asset Increases; Luis Ruiz, Equity Expense, Increases OD Cash, Liability, Increases, Luis Ruiz, Equity.Capital, Decreases O E. None of the above Moving to the next question...
Question 19 The monthly depreciation expense on Louis Ruiz Consulting Services computers. What is the adjusting...
Question 19 The monthly depreciation expense on Louis Ruiz Consulting Services computers. What is the adjusting entry to record the depreciation expense? A Dr. Computer 250; Cr. Cash 250 B. De Cash 250;c Computer 250 Cor. Depreciation Expense Computer 250C Cash 250 OD. Dr. Accumulated Depreciation, Computer 250CC250 O E. None of the above Moving to the next question prevents changes to the
The following journal entry was recorded as a transaction: • Dr. Deferred Revenue Cr. Consulting Revenues...
The following journal entry was recorded as a transaction: • Dr. Deferred Revenue Cr. Consulting Revenues $20,000 $20,000 Briefly explain what occurred on the day the entry was made --- no concepts are necessary. Short Answer Toolbar navigation В І IC s 를 름 А A Im
1 .Choose all the accounts below that would be INCREASED by a DEBIT entry to the...
1 .Choose all the accounts below that would be INCREASED by a DEBIT entry to the account. Group of answer choices Assets Dividends Capital Contributions Revenues Contra Assets Losses Expenses Liabilities Contra Revenues Retained Earnings Gains 2. Choose all the accounts below that would be DECREASED by a CREDIT entry to the account. Group of answer choices Retained Earnings Assets Equity Expenses Dividends Contra Assets Losses Liabilities 3. Choose all the accounts below that would be DECREASED by a DEBIT...
Question 11 1 pts The journal entry to record a company's cash collection of accounts receivable...
Question 11 1 pts The journal entry to record a company's cash collection of accounts receivable would include a credit to the following account: O Cash ET O Sales Revenues O Accounts Receivable O Accounts Payable O None of the Above
QUESTION 4 Increase Consulting Revenue with a:
QUESTION 4 Increase Consulting Revenue with a: Debit Credit QUESTION 5 The account classification for Accounts Receivable is: Asset Liability Equity Revenue Expense QUESTION 6 Decrease Unearned Revenue with a Debit Credit QUESTION 7 Increase cash with a Debit Credit
Posting a Revenue Journal The revenue journal for Sapling Consulting Inc. follows. The accounts receivable controlling...
Posting a Revenue Journal The revenue journal for Sapling Consulting Inc. follows. The accounts receivable controlling account has a July 1, 20Y2, balance of $940 consisting of an amount due from Aladdin Co. There were no collections during July REVENUE JOURNAL Page 12 Invoice No. Post. Accounts Rec. Dr. Ref. Fees Earned Cr. Date Account Debited 20Y2 2,285 July 4 July 9 355 356 357 Clearmark Co. Life Star Inc. 3,770 July 18 Aladdin Co. 1,740 359 Clearmark Co. 3,095...
General Journal entry options: No Journal Entry Required Accounts Payable Accounts Receivable Ac...
General Journal entry options:
No Journal Entry Required
Accounts Payable
Accounts Receivable
Accumulated Amortization
Accumulated Depreciation
Advertising Expense
Amortization Expense
Bad Debt Expense
Buildings
Cash
Common Stock
Copyrights
Cost of Goods Sold
Deferred Revenue
Delivery Expense
Depreciation Expense
Dividends
Dividends Payable
Donation Revenue
Equipment
Franchise Rights
Goodwill
Income Tax Expense
Income Tax Payable
Insurance Expense
Interest Expense
Interest Payable
Interest Receivable
Interest Revenue
Inventory
Land
Legal Expense
Licensing Rights
Logo and Trademarks
Notes Payable (long-term)
Notes Payable (short-term)
Notes Receivable...
QUESTION 14 A company purchases supplies on account, what is the effect on the accounting equation?...
QUESTION 14 A company purchases supplies on account, what is the effect on the accounting equation? Assets decrease; equity increases Assets decrease; equity decreases Liabilities decrease; equity decreases Liabilities increase; equity increases Liabilities increase; assets increase 4 points QUESTION 15 Unearned revenues are: Revenues that have been earned and received in cash Revenues that have been earned but not yet collected in cash Liabilities created when a customer pays in advance for products or services before the revenue...
Question 10 For the journal entry-- Dr. Accounts Receivable 4800; Cr. Consulting Revenues 4800, what is the correct analysis of the journal entry? A Accounts Receivable Asset Increases: Consulting Revenues, Equity-Revenue Decreases 6. Accounts Receivable Asset, Increases, Consulting Revenues, Equity Revenue Increase Accounts Receivable, Asset, Decreases Consulting Revenues, Equity-Revenue increases O D. Accounts Receivable, Asset Decreases Consulting Revenues, Equity-Expense Increases E. None of the above Moving to the next question prevents changes to this answer.
Moving to the next question prevents changes to this answer. Question 13 For the journal entry-- Dr. Cash 20000: Cr. Ruiz Capital 20000, what is the correct analysis of the journal entry? O A Cash, Asset, increases, Luis Ruiz, Equity. Capital, Decreases B. Cash, Asset, Increases, Luis Ruiz, Equity Capital, Increases O C Cash, Asset Increases; Luis Ruiz, Equity Expense, Increases OD Cash, Liability, Increases, Luis Ruiz, Equity.Capital, Decreases O E. None of the above Moving to the next question...
Question 19 The monthly depreciation expense on Louis Ruiz Consulting Services computers. What is the adjusting entry to record the depreciation expense? A Dr. Computer 250; Cr. Cash 250 B. De Cash 250;c Computer 250 Cor. Depreciation Expense Computer 250C Cash 250 OD. Dr. Accumulated Depreciation, Computer 250CC250 O E. None of the above Moving to the next question prevents changes to the
The following journal entry was recorded as a transaction: • Dr. Deferred Revenue Cr. Consulting Revenues $20,000 $20,000 Briefly explain what occurred on the day the entry was made --- no concepts are necessary. Short Answer Toolbar navigation В І IC s 를 름 А A Im
Question 11 1 pts The journal entry to record a company's cash collection of accounts receivable would include a credit to the following account: O Cash ET O Sales Revenues O Accounts Receivable O Accounts Payable O None of the Above
Posting a Revenue Journal The revenue journal for Sapling Consulting Inc. follows. The accounts receivable controlling account has a July 1, 20Y2, balance of $940 consisting of an amount due from Aladdin Co. There were no collections during July REVENUE JOURNAL Page 12 Invoice No. Post. Accounts Rec. Dr. Ref. Fees Earned Cr. Date Account Debited 20Y2 2,285 July 4 July 9 355 356 357 Clearmark Co. Life Star Inc. 3,770 July 18 Aladdin Co. 1,740 359 Clearmark Co. 3,095...
General Journal entry options:
No Journal Entry Required
Accounts Payable
Accounts Receivable
Accumulated Amortization
Accumulated Depreciation
Advertising Expense
Amortization Expense
Bad Debt Expense
Buildings
Cash
Common Stock
Copyrights
Cost of Goods Sold
Deferred Revenue
Delivery Expense
Depreciation Expense
Dividends
Dividends Payable
Donation Revenue
Equipment
Franchise Rights
Goodwill
Income Tax Expense
Income Tax Payable
Insurance Expense
Interest Expense
Interest Payable
Interest Receivable
Interest Revenue
Inventory
Land
Legal Expense
Licensing Rights
Logo and Trademarks
Notes Payable (long-term)
Notes Payable (short-term)
Notes Receivable...
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