39. Cash was paid by Janer's Cleaning Service to creditors on account. Which of the following...

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39. Cash was paid by Janers Cleaning Service to creditors on account. Which of the following entries for Janers Cleaning Se

Owner. C al d. Fecs Eamed 46. Accounts are classified in the ledger 2. chronologically b. alphabetically c. in accordance wit

is prepared Date (4) Total the Debit and Credit columns of the trial balance What is the proper order of these steps? a. (3),

c. partnership d. governmental unit 58. Accumulated Depreciation appears on the a. balance sheet in the current assets sectio

Accounts payable Accounts receivable Operating activities Wages expense Net income Cash 63. On January 1, Merry Walker establ

Expenses incurred prior to September and paid during September Expenses incurred and paid in September Expenses incurred in S

business accounting

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Answer 1

Answer #1

Answer:-

39.b.Accounts Payable debit , Cash credit.

Explanation:-As cash goes out it is credited and as liability decreases it is debited.

40 .d. Liabilities does not include wages owed to employees of the company.

Explanation:- Liability creates an obligation to pay someone at a future date. Since, wages payable to employees creates an obligation to pay at future date, it is a liability.

41.The year end balance of owners capital account appears in c.both the statement of owner's equity and balance sheet.

42.Using accrual accounting, expenses are recorded and reported only a. when they are incurred, whether or not cash is paid.

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Answer 2

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