A business received the current month's utility bill for $2,125, and immediately paid it. Which journal entry is prepared?
A.Debit Utilities Payable for $2,125 and credit Cash for $2,125.
B.Debit Utilities Expense for $2,125 and credit Cash for $2,125.
C.Debit Operating Expense for $2,125 and credit Accounts Payable for $2,125.
D.Debit Accounts Payable for $2,125 and credit Cash for $2,125.
A business received the current month's utility bill for $2,125, and immediately paid it. Which journal...
Entity H received a cellphone bill that it paid immediately. The journal entry to record this transaction will include: a debit to Prepaid Utilities and a credit Cash a debit to Utility Expense and a credit to Accounts Payable a debit to Utility Expense and a credit to Cash a debit to Prepaid Utilities and a credit to Accounts Payable
If a natural resource is extracted and then immediately sold, which of the following accounts are debited and credited? A.debit Depletion Expense and credit Accumulated Depletion B.debit Depreciation Expense and credit Accumulated Depreciation C.debit Natural Resource and credit Accumulated Depletion D.debit Cost of Goods Sold and credit Inventory
Question 38 12 points) The corporation received a utility bill; the bill will be paid next month. The corporation produces monthly financial statements. The journal entry to record this transaction is debit Utilities Expense; credit Accounts Receivable. debit Utilities Expense; credit Cash. debit Accounts Payable; credit Utilities Expense. debit Utilities Expense; credit Accounts Payable.
Westen om QUESTION 22 Russell Co, received a $100 utility bill for the current month's electricity. It is not duen the end of the next month which is when they intend to pay it Which of the following general journal entries will use Co. make to record the receipt of the es Expense Accounts Receivable Utilities Expense 400 lities Expense accounts Payable 200 400 Accounts Payable es Bepense No journal entry is required
Which of the following is TRUE regarding the accounts prepaid rent and rent expense? A.Prepaid rent represents the cost of rent not yet paid for, while rent expense represents the cost of rent which has been paid for. B.TThese account titles both mean the same thing and are used interchangeably. C.Prepaid rent represents the cost of rent paid for but not yet used, while rent expense represents the cost of rent used to deliver goods or services to customers. D.Rent...
1. Nick Bowman invested cash of $12,000 in the business. 2. Received and paid utility bill of $125. 3. Bought $300 of supplies on account. 4. Sold services worth $2,500 to customers on account. 5. Received cash payment of $800 from credit customers. Cash Bal. Accounts Receivable Bal. Supplies Top 3 me 2 progressalalse Calculator Cash Bal. Accounts Receivable Bal. Supplies Accounts Payable Owner's Capital . .take AssignmentSessionLocator Beinprogress=false Calculator Accounts Receivable Bal. Supplies Accounts Payable Owner's Capital Utilities Expense...
A company receives a utility bill each month for services received. The company's policy is to pay the utility bill within 30 days of receipt. On December 31, 2021, the company receives a utility bill of $4,200 for the month of December and plans to pay the bill by January 30, 2022. What adjusting entry, if any, will the company record on December 31, 2021? Multiple Choice ) Debit Utilities Expense and credit Cash for $4,200 O Debit Utilities Expense...
What is the journal entry if you receive a utility bill, and the bill will be paid at a later date: A) No journal entry required, until payment is made. B) Dr. Utility Expense, Cr. Cash C) Dr. Utility Expense, Cr. Utility Payable D) Dr. Utility Payable, Cr. Utility Expense
Question 9 Browse Books, Inc., received and paid its utility bill of $250. As the accountant, you would tell the bookkeeper to debit Cash and credit Utility Expense for $250. debit Cash and credit Utility Payable for $250. debit Utility Receivable and credit Cash for $250. debit Utility Expense and credit Cash for $250. debit Cash and credit Retained Earnings for $250. 1 points Question 10 A company began operations and purchased $5,000 of supplies. By year-end, $3,200 were still...
Clement Company paid an account payable related to a previous utility bill of $1,030. This transaction should be recorded as follows on the payment date: Multiple Choice Debit cash $1030, credit utilities expense $1030. O Debit utilities expense $1,030, credit cash $1,030. o Debit accounts payable $1,030, credit cash $1,030. o o Debit cash $1,030, credit accounts payable $1,030.