Homework Answers
Solution:
| Account | Type of Account | Increase Side | |
| 1 | cash | Asset | Debit |
| 2 | Accounts Receiavble | Asset | Debit |
| 3 | Fees Earned | Revenue | Credit |
| 4 | jake, Drawings | Owner's Equity | Credit |
| 5 | Wages payable | Liability | Credit |
| 6 | Utilities expense | Expense | Debit |
| 7 | Jake, capital | Owner's Equity | Credit |
| 8 | Supplies | Asset | Debit |
| 9 | Land | Asset | Debit |
| 10 | Accounts payable | Liability | Credit |
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Accounts from Jake Stone Co. appear below. (a) In the first column at the right indicate...
Selected accounts from the ledger of Garrison Company appear below. For each account, indicate the following:...
Selected accounts from the ledger of Garrison Company appear below. For each account, indicate the following: a. In the first column at the right, indicate the nature of each account, using the following abbreviations: Asset - A Revenue - R Expense - E Liability - L None of the above - N b. In the second column, indicate the increase side of each account by inserting "Dr." for Debit or "Cr." for Credit. Type of Account Increase Side Account (1)...
Selected accounts appear below. For each account, indicate the following: Part a. In the first column,...
Selected accounts appear below. For each account, indicate the following: Part a. In the first column, indicate the nature of each account using the following abbreviations: A for asset, L for liability, SE for stockholders' equity, R for revenue, E for expense, CA for contra asset, Cl. for contra liability. Part b. In the second column, indicate the normal balance using the following abbreviations: DR for debit and CR for credit (Parta) (Part b) Type of Normal Account Balance Income...
QUES CIUI 10 po Selected accounts appear below. For each account, indicate the following: Part a....
QUES CIUI 10 po Selected accounts appear below. For each account, indicate the following: Part a. In the first column, indicate the nature of each account using the following abbreviations: A for asset. L for liability, SE for stockholders' equity, R for revenue. E for expense, CA for contra asset, CL for contra liability, Part b. In the second column, indicate the normal balance using the following abbreviations: DR for debit and CR for credit (Parta) (Part b) Type of...
Indicate whether each of the following would be reported in the financial statements as a current...
Indicate whether each of the following would be reported in the financial statements as a current asset (b) property, plant, and equipment, (c) currently, (d) revenue, or (e) expenses 1. True 2. Accumulated Depreciation 3. Telephone Expense 4. Fees Earned 5. Wages Payable 6. Prepaid surance 7. Office Suples 8. Oning Expense 9. Unearned lant Selected accounts from the ledger of Garrison Company appear below. For each account, indicate the following: (a) In the first column at the right, indicate...
please answer question 2 Problem Selected accounts from the ledger of Hughes Company appear below. For...
please answer question 2
Problem Selected accounts from the ledger of Hughes Company appear below. For each account, indicate the following: 1. In the first column at the right, indicate the nature of each account, using the following abbreviations: (a) Revenue R Asset A Liability - L Capital/Equity- C Expense - E In the second column, indicate the increase side of each account by inserting Dr. or (b) Cг. Туре оf Account Increase Side Account Supplies Notes Receivable Fees Earned...
Identification of Accounts E6A. I. Indicate whether each of the following accounts is an asset (A),...
Identification of Accounts E6A. I. Indicate whether each of the following accounts is an asset (A), a liability (L), or a LO3 part of owner's equity (OF) a. Building b Salaries Payable e. Cash f. Accounts Payable g Equipment Accounts Receivable d. Owner's Capital 2. Indicate whether each account that follows would be shown on the income state ment (IS), the statement of owner's equity (OE), or the balance sheet (BS). a. Commissions Earned b. Automobile c Utilities Expense e....
EX 4-1 Flow of accounts into financial statements OBJ. 1, 2 The balances for the accounts...
EX 4-1 Flow of accounts into financial statements The balances for the accounts that follow appear in the Adjusted Trial Balance columns of the end-of-period spreadsheet. Indicate whether each account would flow into the income statement, statement of owner's equity, or balance sheet. 1. Accounts Payable 6. Supplies 2. Accounts Receivable 7. Unearned Rent 3. Cash 8. Utilities Expense 4. Eddy Rosewood, Drawing 9. Wages Expense 5. Fees Earned 10. Wages Payable EX 4-2 Classifying accounts Balances for each of the following accounts appear in an adjusted trial balance. Identify each as (a)...
EX 4.1 Flow of accounts into financial statements OBJ. 1, 2 The balances for the accounts...
EX 4.1 Flow of accounts into financial statements OBJ. 1, 2 The balances for the accounts that follow appear in the Adjusted Trial Balance columns of the end-of-period spreadsheet. Indicate whether each account would flow into the income statement, statement of owner's equity, or balance sheet. 1. Accounts Payable 6. Supplies 2. Accounts Receivable 7. Unearned Rent 3. Cash 8. Utilities Expense 4. Eddy Rosewood, Drawing 9. Wages Expense 5. Fees Earned 10. Wages Payable EX 4-2 Classifying accounts 06)....
Exercise 2-4 Identifying type and normal balances of accounts LO C4 For each of the following...
Exercise 2-4 Identifying type and normal balances of accounts LO C4 For each of the following (1) identify the type of account as an asset, liability, equity. revenue, or expense: (2) identify the normal balance of the account; and (3) select debit (Dr) or credit (C) to identify the kind of entry that would increase the account balance Type of Account Asset Normal Balance Increase (Dr. or Cr.) Account a Land b. Cash c. Legal Expense d. Prepaid Insurance e...
10. The accounts in the ledger of Monroe Entertainment Co. are listed below. All accounts have...
10. The accounts in the ledger of Monroe Entertainment Co. are listed below. All accounts have normal balances. Accounts Payable $1,500 Fees Earned $3,600 Accounts Receivable 1,800 Insurance Expense 1,300 Prepaid Insurance 2,000 Land 3,000 Cash 3,200 Wages Expense 1,400 Drawing 1,200 Capital 8,800 The total of all the assets is a. $10,000 b. $8,000 c. $9,700 d. $9,800 11. The classification and normal balance of the accounts payable account is an asset with a credit balance a liability with...
Selected accounts from the ledger of Garrison Company appear below. For each account, indicate the following: a. In the first column at the right, indicate the nature of each account, using the following abbreviations: Asset - A Revenue - R Expense - E Liability - L None of the above - N b. In the second column, indicate the increase side of each account by inserting "Dr." for Debit or "Cr." for Credit. Type of Account Increase Side Account (1)...
Selected accounts appear below. For each account, indicate the following: Part a. In the first column, indicate the nature of each account using the following abbreviations: A for asset, L for liability, SE for stockholders' equity, R for revenue, E for expense, CA for contra asset, Cl. for contra liability. Part b. In the second column, indicate the normal balance using the following abbreviations: DR for debit and CR for credit (Parta) (Part b) Type of Normal Account Balance Income...
QUES CIUI 10 po Selected accounts appear below. For each account, indicate the following: Part a. In the first column, indicate the nature of each account using the following abbreviations: A for asset. L for liability, SE for stockholders' equity, R for revenue. E for expense, CA for contra asset, CL for contra liability, Part b. In the second column, indicate the normal balance using the following abbreviations: DR for debit and CR for credit (Parta) (Part b) Type of...
Indicate whether each of the following would be reported in the financial statements as a current asset (b) property, plant, and equipment, (c) currently, (d) revenue, or (e) expenses 1. True 2. Accumulated Depreciation 3. Telephone Expense 4. Fees Earned 5. Wages Payable 6. Prepaid surance 7. Office Suples 8. Oning Expense 9. Unearned lant Selected accounts from the ledger of Garrison Company appear below. For each account, indicate the following: (a) In the first column at the right, indicate...
please answer question 2
Problem Selected accounts from the ledger of Hughes Company appear below. For each account, indicate the following: 1. In the first column at the right, indicate the nature of each account, using the following abbreviations: (a) Revenue R Asset A Liability - L Capital/Equity- C Expense - E In the second column, indicate the increase side of each account by inserting Dr. or (b) Cг. Туре оf Account Increase Side Account Supplies Notes Receivable Fees Earned...
Identification of Accounts E6A. I. Indicate whether each of the following accounts is an asset (A), a liability (L), or a LO3 part of owner's equity (OF) a. Building b Salaries Payable e. Cash f. Accounts Payable g Equipment Accounts Receivable d. Owner's Capital 2. Indicate whether each account that follows would be shown on the income state ment (IS), the statement of owner's equity (OE), or the balance sheet (BS). a. Commissions Earned b. Automobile c Utilities Expense e....
EX 4.1 Flow of accounts into financial statements OBJ. 1, 2 The balances for the accounts that follow appear in the Adjusted Trial Balance columns of the end-of-period spreadsheet. Indicate whether each account would flow into the income statement, statement of owner's equity, or balance sheet. 1. Accounts Payable 6. Supplies 2. Accounts Receivable 7. Unearned Rent 3. Cash 8. Utilities Expense 4. Eddy Rosewood, Drawing 9. Wages Expense 5. Fees Earned 10. Wages Payable EX 4-2 Classifying accounts 06)....
Exercise 2-4 Identifying type and normal balances of accounts LO C4 For each of the following (1) identify the type of account as an asset, liability, equity. revenue, or expense: (2) identify the normal balance of the account; and (3) select debit (Dr) or credit (C) to identify the kind of entry that would increase the account balance Type of Account Asset Normal Balance Increase (Dr. or Cr.) Account a Land b. Cash c. Legal Expense d. Prepaid Insurance e...
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