Homework Answers
1 (D)EQuipment . Dr 1300
To cash 500
To account payable 800
2(C)cash . Dr 1400
To lecture fees 1400
3(D)all debit then credit
4(C)12 month period beginning with january
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Renzi's Volleyball Gym purchased equipment for $1,300. It made a down payment of $500 with the...
1. Grayton Industries purchased supplies for $1,300. They paid $500 in cash and agreed to pay...
1. Grayton Industries purchased supplies for $1,300. They paid $500 in cash and agreed to pay the balance in 30 days. The journal entry to record this transaction would include a debit to an asset account for $1,300, a credit to cash account for $500. Which of the following would be the correct way to complete the recording of the transaction? a. Credit the Grayton, Capital account for $500. b. Debit the Grayton, Capital account for $500. c. Credit an...
This Question: 1 pt 3 of 20 (0 complete) This Test:20p Sedlor Properties purchased office supplies...
This Question: 1 pt 3 of 20 (0 complete) This Test:20p Sedlor Properties purchased office supplies on account for $800 Which journal entry records the payment on account of those office supplies? (Assuifle the occurred in a prior period.) Date Accounts and Explanation Debit Credit 800 OA. Office Supplies Cash OB. Accounts Payable Cash 800 OC Accounts Payable Accounts Receivable 800 OD. Cash 800 Accounts Payable answer De here to search
If you debit Prepaid Insurance, you most likely will: O A. credit Cash. O B. credit...
If you debit Prepaid Insurance, you most likely will: O A. credit Cash. O B. credit Insurance Expense. O C. credit Capital. O D. credit Fees Earned. Sue's Book Review billed customers $550. The journal entry to record this transaction is: O A. Editing Fees, debit $550; Riley, Capital, credit $550 O B. Cash, debit $550; Riley, Accounts Receivable, credit $550 O C. Accounts Payable, debit $550; Editing Fees, credit $550 OD. Accounts Receivable, debit $550; Editing Fees, credit $550...
A Stello's Berry Farm accepted a bank-issued credit card in payment of a $1,300 sales transaction....
A Stello's Berry Farm accepted a bank-issued credit card in payment of a $1,300 sales transaction. Stelloh's bank charges 3% to process the transaction. The Journal entry to record the sales transaction will include (Ignore cost of goods sold) O A. a debit to Cash for $1,300 and a credit to Sales Revenue for $1,300 OB. a debit to Accounts Recevable for $1,261 and a credit to Sales Revenue for $1,261 O C. a debit to Accounts Receivable for $1,300,...
The journal entry to record the purchase of equipment for a $110 cash down payment and...
The journal entry to record the purchase of equipment for a $110 cash down payment and a balance of $420 due in 30 days would include Multiple Choice a debit to Equipment for $530, a credit to Cash for $110, and a credit to Accounts Payable for $420 a debit to Equipment for $110 and a credit to Cash for $110. O a debit to Equipment for $110 and a credit to Accounts Payable for $420. debit to Equipment for...
New Store has the following information at August 31 . Two deposits made on August 31...
New Store has the following information at August 31 . Two deposits made on August 31 were not on the bank statement, totaling $5.700 • The bank collected an EFT payment on a note receivable for $2.750 of this amount. $150 represented interest on the Hote. August 31 balance in Cash was $12,577. . The bookkeeper forgot to record check #1578 for $843 which was cashed by the bank on August 15th • The balance on the bank statement as...
a. Cash is understated by $ 1,300.
a. Cash is understated by $ 1,300.b. A $ 4,200 debit to Accounts Receivable was posted as a credit.c. A $ 800 purchase of office supplies on account was neither journalized nor posted.d. Equipment was incorrectly transferred from the ledger as $ 86,900. It should have been transferred as $ 79,000.e. Salaries Expense is overstated by $ 350.f. A $ 600 cash payment for advertising expense was neither journalized nor posted.g. A $ 150 cash dividend was incorrectly journalized as...
A company using the perpetual inventory system purchased inventory worth $500.000 on account with crede terms...
A company using the perpetual inventory system purchased inventory worth $500.000 on account with crede terms of 3/16, 1/40. Defective inventory of 570.000 was returned 3 days later, and the accounts were appropriately adjusted if the company paid the invoice 30 days later, the journal entry to record the payment would be O A 5430.000 debit to Accounts Payable and 5430,000 credit to Cash O . 5500.000 debit to Accounts Payable and $500,000 credit to Cash OC. 3500,000 debit to...
0 A company using the perpetual invertory system purchased Inventory worth $97,000 on account with credit...
0 A company using the perpetual invertory system purchased Inventory worth $97,000 on account with credit forms of 1/16, 1/30. Defective inventory was received, but instead of a retum, an allowance of $500 is givesThe allowance is before the Inic is paid. The journal entry to record the payment for the lowance and within the discount period would be O A 190.000 abit to Cash and $0.0 credit to Accounts Payable OB. 56.500 debt to Accounts Payable595,535 credit to Cash...
Green Lawns Corporation carned $500 for landscaping services rendered. The customer promised to pay at a...
Green Lawns Corporation carned $500 for landscaping services rendered. The customer promised to pay at a later time. Which of the following accounts increased as a result of this transaction? O A Cash OB. Accounts Payable OC Accounts Receivable OD. Supplies
This Question: 1 pt 3 of 20 (0 complete) This Test:20p Sedlor Properties purchased office supplies on account for $800 Which journal entry records the payment on account of those office supplies? (Assuifle the occurred in a prior period.) Date Accounts and Explanation Debit Credit 800 OA. Office Supplies Cash OB. Accounts Payable Cash 800 OC Accounts Payable Accounts Receivable 800 OD. Cash 800 Accounts Payable answer De here to search
If you debit Prepaid Insurance, you most likely will: O A. credit Cash. O B. credit Insurance Expense. O C. credit Capital. O D. credit Fees Earned. Sue's Book Review billed customers $550. The journal entry to record this transaction is: O A. Editing Fees, debit $550; Riley, Capital, credit $550 O B. Cash, debit $550; Riley, Accounts Receivable, credit $550 O C. Accounts Payable, debit $550; Editing Fees, credit $550 OD. Accounts Receivable, debit $550; Editing Fees, credit $550...
A Stello's Berry Farm accepted a bank-issued credit card in payment of a $1,300 sales transaction. Stelloh's bank charges 3% to process the transaction. The Journal entry to record the sales transaction will include (Ignore cost of goods sold) O A. a debit to Cash for $1,300 and a credit to Sales Revenue for $1,300 OB. a debit to Accounts Recevable for $1,261 and a credit to Sales Revenue for $1,261 O C. a debit to Accounts Receivable for $1,300,...
The journal entry to record the purchase of equipment for a $110 cash down payment and a balance of $420 due in 30 days would include Multiple Choice a debit to Equipment for $530, a credit to Cash for $110, and a credit to Accounts Payable for $420 a debit to Equipment for $110 and a credit to Cash for $110. O a debit to Equipment for $110 and a credit to Accounts Payable for $420. debit to Equipment for...
New Store has the following information at August 31 . Two deposits made on August 31 were not on the bank statement, totaling $5.700 • The bank collected an EFT payment on a note receivable for $2.750 of this amount. $150 represented interest on the Hote. August 31 balance in Cash was $12,577. . The bookkeeper forgot to record check #1578 for $843 which was cashed by the bank on August 15th • The balance on the bank statement as...
a. Cash is understated by $ 1,300.b. A $ 4,200 debit to Accounts Receivable was posted as a credit.c. A $ 800 purchase of office supplies on account was neither journalized nor posted.d. Equipment was incorrectly transferred from the ledger as $ 86,900. It should have been transferred as $ 79,000.e. Salaries Expense is overstated by $ 350.f. A $ 600 cash payment for advertising expense was neither journalized nor posted.g. A $ 150 cash dividend was incorrectly journalized as...
A company using the perpetual inventory system purchased inventory worth $500.000 on account with crede terms of 3/16, 1/40. Defective inventory of 570.000 was returned 3 days later, and the accounts were appropriately adjusted if the company paid the invoice 30 days later, the journal entry to record the payment would be O A 5430.000 debit to Accounts Payable and 5430,000 credit to Cash O . 5500.000 debit to Accounts Payable and $500,000 credit to Cash OC. 3500,000 debit to...
0 A company using the perpetual invertory system purchased Inventory worth $97,000 on account with credit forms of 1/16, 1/30. Defective inventory was received, but instead of a retum, an allowance of $500 is givesThe allowance is before the Inic is paid. The journal entry to record the payment for the lowance and within the discount period would be O A 190.000 abit to Cash and $0.0 credit to Accounts Payable OB. 56.500 debt to Accounts Payable595,535 credit to Cash...
Green Lawns Corporation carned $500 for landscaping services rendered. The customer promised to pay at a later time. Which of the following accounts increased as a result of this transaction? O A Cash OB. Accounts Payable OC Accounts Receivable OD. Supplies
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