The following account titles were drawn from the general ledger of Holt Food Supplies, Incorporated (HFSI): Computers, Operating Expenses, Rent Revenue, Building, Cash, Notes Payable, Land, Utilities Payable, Utilities Expense, Trucks, Gasoline Expense, Retained Earnings, Supplies, Accounts Payable, Office Furniture, Salaries Expense, Common Stock, Service Revenue, Interest Expense, Dividends, Supplies Expense.
Required
a. List each account title under the element of
the accounting equation to which it belongs.
Answers
Assets |
= |
Liabilities |
+ |
Stockholder's Equity |
Computers |
Notes Payable |
Operating expenses |
||
Building |
Utilities Payable |
Rent Revenue |
||
Cash |
Accounts Payable |
Salaries expenses |
||
Land |
Common Stock |
|||
Office Furniture |
Service Revenue |
|||
Supplies |
Interest Expenses |
|||
Truck |
Dividends |
|||
Supplies expenses |
||||
Gasoline expense |
||||
Retained Earnings |
||||
Salaries expenses |
--Asset contains all Asset nature accounts.
--Liabilities contain short term and long term liabilities
--Stockholder’s equity includes common stock, dividends and
retained earnings, which means it also contains Revenues and
expense nature accounts.
The following account titles were drawn from the general ledger of Holt Food Supplies, Incorporated (HFSI):...
I included the ones I know are right and wrong. I cannot figure this out please help! Check my work The following account titles were drawn from the general ledger of Holt Food Supplies, Incorporated (HFSI): Computers, Operating Expenses, Rent Revenue, Building, Cash, Notes Payable, Land, Utilities Payable, Utilities Expense, Trucks, Gasoline Expense, Retained Earnings, Supplies, Accounts Payable, Office Furniture, Salaries Expense, Common Stock, Service Revenue, Interest Expense, Dividends, Supplies Expense. Required a. List each account title under the element...
or incorrect for the work you have completed so far. It do Check my work mode : This shows what is correct 4 drawn from the general ledger of Holt Food Supplies, Incorporated (HFSI: Computers. Operating lies, ncorporated (HiFSI: Computers, Operating Expense, Retaine Expenses, Rent Revenue, Building, Cash, Notes Payable, Land, Utilities Payable, Utilities Expense. Trucks, Gasoline Earnings. Supplies, Accounts Payable, Office Furniture, Salaries Expense, Common Stock Service Revenue Interest Expense. Dividends, Supplies Expense. ints Required a. List each account...
Exercise 1-19A Preparing financial statements LO 1-7, 1-8, Dakota Company experienced the following events during 2018: 1. Acquired $25,000 cash from the issue of common stock. 2. Paid $20,000 cash to purchase land. 3. Borrowed $20,000 cash. 4. Provided services for $60,000 cash. 5. Paid $2,000 cash for utilities expense. 6. Paid $40,000 cash for other operating expenses. 7. Paid a $5,000 cash dividend to the stockholders. 8. Determined that the market value of the land purchased in Event 2...
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