Question

Use the following to answer questions 10 - 13 Indicate which of the following accounts should be debited and which should be credited. An example has been provided (ex). Purchase Office Supplies in exchange for cash Debit : N (Supplies) Credit: C (Cash) see below. Only include the letter of the account not the account name. A Accounts payable E. Dividends 1. Rent expense M. Service revenue B Accounts receivable F. Equipment J. Retained earnings N. Supplies C. Cash G. Notes payable K. Salaries expense O. Utilities expense D. Common stock H. Prepaid rent L. Salaries payable Dealor Account Debited Account Credited ex Purchase Office Supplies in exchange for cash 10. Received the utility bill for the month, will pay next week. 12 Provided services to customers, will bill at the end of the month. Recorded employee salaries for the week, will pay later. Paid rent in advance for the next three months. Н Use the following to answer questions 14-20 Post each transaction to the T-accounts below and compute the ending balances of each account. The balances at the beginning of the day are shown in the Taccounts. NOTE: The accounts are only a partial listing of the acompany's Chart of Accounts Credit Crec Debit 1,800 Recorded transactions to be posted: Debit 1 Accounts receivable 6,000 Service revenue 2 Office Supplies 300 Cash 3 Deferred revenue 6,000 Advertising expense Accounts payable Accounts payable Cash 2.500 4,000 6 Cash 8,000

Answer 1

02 Account debit Account ex l Purchase office supplies in exchange cash for 1. credited Recieved the utility bill for the month. will pay next week Prouided services to customers, will bill at the end of the month 12. Recorded employee salaries for the week will pay later. 13 I T paid reut in advance for next - three months Account Petit - credit 91 Dalo 21. feb 2 25,000 25.000 2.000 Feb 7 200w 1.000 Feb 14 low 30, ow rebir la 3400 Igow felzo 19000 Sow А. I Flb 28 ow