Homework Answers
1) Accrued liability for utilities
Account #1= Utilities account
Account type= expense ( liability)
Increase your expense
Debit
Account#2= Accrued liability - utilities
Account type = expense
Decrease
Credit
2) Paid for one year insurance policy
Account#1 Prepaid expense account
Account type= Personal account
Increase asset
Debit
Account#2= Cash account
Account type= real account
Decrease of cash
Credit
3) Purchase office furniture on account
Account#1= Furniture account
Account type= Real account
Increase the asset
Debit
Account#2= Creditor account
Account type= Personal account
Decrease of cash
Credit
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HIN Activity 2.b - Analyze the Transactions Review the transactions and determine the accounts, the account...
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...
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
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...
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; 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.
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. Collected cash...
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...
Accounting Cycle Tutorial Step 2: Analyze and Journalize Transactions >000 > Analyze the Transactions Activity 2.b...
Accounting Cycle Tutorial Step 2: Analyze and Journalize Transactions >000 > Analyze the Transactions Activity 2.b - Analyze the Transactions 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. Purchase of building with note. Account 1 Account Type Increase/Decrease Debit/Credit Account 02...
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, 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...
Accounting Cycle Tutorial Step 2: Analyze and Journalize Transactions > 0.00 > Analyze the Transactions Activity...
Accounting Cycle Tutorial Step 2: Analyze and Journalize Transactions > 0.00 > Analyze the Transactions Activity 2.b - Analyze the Transactions 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. Purchase of building with note. Account 1 Account Type Increase/Decrease Debit/Credit Account...
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...
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...
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
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...
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.
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. Collected cash...
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...
Accounting Cycle Tutorial Step 2: Analyze and Journalize Transactions >000 > Analyze the Transactions Activity 2.b - Analyze the Transactions 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. Purchase of building with note. Account 1 Account Type Increase/Decrease Debit/Credit Account 02...
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...
Accounting Cycle Tutorial Step 2: Analyze and Journalize Transactions > 0.00 > Analyze the Transactions Activity 2.b - Analyze the Transactions 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. Purchase of building with note. Account 1 Account Type Increase/Decrease Debit/Credit Account...
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...
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