Homework Answers
When utilities bill received then it means utilities expense debit and bill is paid later date means at the end of financial year utilities bill is payable so utilities payable is credited
So answer is c) Dr. Utility expense, Cr Utility payable
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What is the journal entry if you receive a utility bill, and the bill will be...
Entity H received a cellphone bill that it paid immediately. The journal entry to record this...
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
Your company uses the Perpetual Inventory system. What is the 4-row journal entry to record...
Your company uses the Perpetual Inventory system. What is the 4-row journal entry to record a cash-based sale? (1) dr. (to record the sale) > Choose... (2) cr. (to record the sale) Choose... (3) dr. (to remove inventory) cr. Sales Revenue dr. Cash (4) cr. (to remove inventory) dr. Cost of Goods Sold cr. Merchandise Inventory Your company uses the Periodic Inve dr. Merchandise Inventory What is the journal entry when a cuscr. Cash purchas dr. Accounts Receivable dr....
Activity 1.a - Post Transactions to T-accounts Use the information provided in the journal entry to...
Activity 1.a - Post Transactions to T-accounts
Use the information provided in the journal entry to post the
transaction to the t-account. Post in DR/CR order.
Use the information provided in the journal entry to post the transaction to the t-account. Post in DR/CR order Date Accounts and Explanation Debit Credit Nov. 2 Utilities Expense 43,600 Utilities Payable 43,600 Accrued liability for utilities. Date Accounts and Explanation Debit Credit Nov. 4 Cash 47,200 Service Revenue 47,200 Collected cash for services...
Which of the following is NOT a line in your journal entry to record... You disposed...
Which of the following is NOT a line in your journal entry to record... You disposed of Office Furniture for $2,000 cash. The furniture cost $8,000 and had accumulated depreciation of $5,000. Select one: O a. dr. Loss on Disposal of Assets $1,000 O b. dr. Accum.Depreciation - Office Furniture $5,000 O c. dr. Cash $2,000 O d.cr. Office Furniture $8,000 O ecr. Loss on Disposal of Assets - $1,000 Which of the following is NOT a line in your...
A business received the current month's utility bill for $2,125, and immediately paid it. Which journal...
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.
Question 20 What is the adjusting journal entry to record the accrual of 100 of unpaid...
Question 20 What is the adjusting journal entry to record the accrual of 100 of unpaid interest on a note payable? O A Dr. Interest Expense 100 C Cash 100 5. Dr Interest Payable 100 Cr Cash 100 O C. De Interest Expense 100 Cr Interest Payable.00 OD Dr. Interest Payable 190 Cr Interest Expense 100 E None of the above Click Submit to complete this assessment
Your company uses the Periodic Inventory system. What is the journal entry to record returning merchandise...
Your company uses the Periodic Inventory system. What is the journal entry to record returning merchandise inventory to your vendor that was bought on- account? dr. Choose... Cr. Choose... dr. Merchandise Inventory dr. Purchases Returns & Allowances Your comp What is the account? cr. Accounts Payable cr. Merchandise Inventory cr. Purchases Returns & Allowances ndise inventory to your vendor that was bought on- dr. dr. Accounts Payable Your company uses the Perpetual Inventory system. What is the journal entry to...
1. Which of the following would be the adjusting journal entry to recognize earned but unpaid...
1. Which of the following would be the adjusting journal entry to recognize earned but unpaid wages for the period? a Dr. Wages Expense, Cr. Cash b Dr. Wages Payable, Cr. Cash c Dr. Wages Payable, Cr. Wages Expense d Dr. Wages Expense, Cr. Wages Payable 2. Which of the following would be the effect of a transaction to record the portion of prepaid rent that has expired in a period? a. increase Prepaid Rent, decrease Rent Expense b increase...
How would you calculate the journal entry for #13 and what would the exact journal entry...
How would you calculate the journal entry for #13 and what
would the exact journal entry be? note that #8 effects it
lame 9) Accrued wages payable at year-end should be $75,000. 10) On October 1, 2011, $600,000 was paid for a 24-month operating lease for the building. The lease will be expensed evenly over the lease period. 11 on June 1, 2011, a check for $360,000 was issued for a one-year insurance policy to be expensed evenly over the...
Assets Cash $7,000 Accounts Receivable 6,000 Supplies ...
Assets Cash $7,000 Accounts Receivable 6,000 Supplies 2,000 Equipment 10,000 Total Assets $25,000 Liabilities & Equity Accounts Payable $3,000 Common Stock 20,000 Retained Earnings 2,000 Total Liabilities & Equity $25,000 Instructions: Open the balances in the general ledger (T-accounts). Post the journal entries from the general journal to the general...
Your company uses the Perpetual Inventory system. What is the 4-row journal entry to record a cash-based sale? (1) dr. (to record the sale) > Choose... (2) cr. (to record the sale) Choose... (3) dr. (to remove inventory) cr. Sales Revenue dr. Cash (4) cr. (to remove inventory) dr. Cost of Goods Sold cr. Merchandise Inventory Your company uses the Periodic Inve dr. Merchandise Inventory What is the journal entry when a cuscr. Cash purchas dr. Accounts Receivable dr....
Activity 1.a - Post Transactions to T-accounts
Use the information provided in the journal entry to post the
transaction to the t-account. Post in DR/CR order.
Use the information provided in the journal entry to post the transaction to the t-account. Post in DR/CR order Date Accounts and Explanation Debit Credit Nov. 2 Utilities Expense 43,600 Utilities Payable 43,600 Accrued liability for utilities. Date Accounts and Explanation Debit Credit Nov. 4 Cash 47,200 Service Revenue 47,200 Collected cash for services...
Which of the following is NOT a line in your journal entry to record... You disposed of Office Furniture for $2,000 cash. The furniture cost $8,000 and had accumulated depreciation of $5,000. Select one: O a. dr. Loss on Disposal of Assets $1,000 O b. dr. Accum.Depreciation - Office Furniture $5,000 O c. dr. Cash $2,000 O d.cr. Office Furniture $8,000 O ecr. Loss on Disposal of Assets - $1,000 Which of the following is NOT a line in your...
Question 20 What is the adjusting journal entry to record the accrual of 100 of unpaid interest on a note payable? O A Dr. Interest Expense 100 C Cash 100 5. Dr Interest Payable 100 Cr Cash 100 O C. De Interest Expense 100 Cr Interest Payable.00 OD Dr. Interest Payable 190 Cr Interest Expense 100 E None of the above Click Submit to complete this assessment
Your company uses the Periodic Inventory system. What is the journal entry to record returning merchandise inventory to your vendor that was bought on- account? dr. Choose... Cr. Choose... dr. Merchandise Inventory dr. Purchases Returns & Allowances Your comp What is the account? cr. Accounts Payable cr. Merchandise Inventory cr. Purchases Returns & Allowances ndise inventory to your vendor that was bought on- dr. dr. Accounts Payable Your company uses the Perpetual Inventory system. What is the journal entry to...
How would you calculate the journal entry for #13 and what
would the exact journal entry be? note that #8 effects it
lame 9) Accrued wages payable at year-end should be $75,000. 10) On October 1, 2011, $600,000 was paid for a 24-month operating lease for the building. The lease will be expensed evenly over the lease period. 11 on June 1, 2011, a check for $360,000 was issued for a one-year insurance policy to be expensed evenly over the...
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