Homework Answers
| SI No: | Account Titles and Explanation | Debit ($) | Credit ($) |
| a | Accounts Receivable A/c | xxx | |
| Revenue | xxx | ||
| b | Cash A/c | xxx | |
| Accounts Receivable A/c | xxx | ||
| c | Office Supplies A/c | xxx | |
| Accounts Payable A/c | xxx | ||
| d | Gasoline A/c | xxx | |
| Cash A/c | xxx |
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3. Name the accounts debited and credited for each of the following transactions. (a) Billing a...
For each transaction, indicate the account or accounts that should be debited and credited. Accounts 1....
For each transaction, indicate the account or accounts that should be debited and credited. Accounts 1. Cash 2. Accounts Receivables 3. Prepaid Insurance 4. Office Supplies 5. Automobiles 6. Land 7. Accounts Payable 8. Income Taxes Payable 9. Notes Payable 10. Capital Stock 11. Retained Earnings 12. Service Revenue 13. Wage and Salary Expense 14. Utilities Expense 15. Income Tax Expense Transactions Debited Credited Example: Purchased office supplies for cash 4 1 a. Issued capital stock for cash. __ __...
QUESTION 14 Identify the account to be debited and the account to be credited for each...
QUESTION 14 Identify the account to be debited and the account to be credited for each of the following transactions: 1 Purchased equipment for cash and a note payable. 2. Accepted a cash deposit from a customer for a service to be provided next month. 3. Provided services on account. 4. Purchased supplies on account. 5. Received payment form the client in 3. 6. Provided services to customer in 2 and collected cash for the remaining work done. 7. Owner...
Required a. In parallel columns, list the accounts that would be debited and credited for each...
Required a. In parallel columns, list the accounts that would be debited and credited for each of the following unrelated transactions: Event Account Debited Account Credited (1) Acquired cash from the issue of common stock. (2) Provided services for cash. (3) Paid cash for salaries expense. (4) Purchased supplies for cash. (5) Paid in advance for two-year lease on office space. (6) Provided services on account. |(7) Recognized expense for prepaid rent that had been used up by the end...
20. For each transaction, identify which account is debited and which account is credited. Use proper...
20. For each transaction, identify which account is debited and which account is credited. Use proper account titles (Cash, Accounts Receivable, etc.). Debit Credit Transaction Received a bill for utilities to be paid next month Performed services on account Paid employees' salaries Paid cash for a 6-month insurance policy, with coverage starting next month Paid dividends to stockholders Borrowed cash and signed a promissory note Used up warehouse supplies Received cash from a customer to pay on their account Received...
1. Listed below are accounts to use for transactions (a) through (j), each identified by a...
1. Listed below are accounts to use for transactions (a) through (j), each identified by a number. Following this list are the transactions. You are to indicate for each transaction the accounts that should be debited and credited by placing the account number(s) in the appropriate box. Accounts Payable 2. Accounts Receivable 3. Accumulated Depreciation Office Equipmeng 4. Building 5. Owner's Capital Cash 2 Depreciation Expense-Office Equipment Owner's Drawing 2 Fees Earned 10 Insurance Expense 11. Insurance Payable 12. Interest...
Use the following to answer questions 10-13 Indicate which of the following accounts should be debited...
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 B. Accounts receivable C Cash D. Common stock E. Dividends F. Equipment G. Notes payable H. Prepaid rent L. Rent expense J. Retained earnings...
Listed below are accounts to use for transactions (a) through (1), each identified by a number....
Listed below are accounts to use for transactions (a) through (1), each identified by a number. Following this list are the transactions. You are to indicate for each transaction the accounts that should be debited and credited by placing the account number(s) in the appropriate box. 1. Accounts Payable 2. Accounts Receivable 3. Accumulated Depreciation - Office Equipment 4. Building 5. Common Stock 6. Cash 7. Depreciation Expense-Office Equipment 8. Dividends 9. Fees Earned 10. Insurance Expense 11. Insurance Payable...
1. Listed below are accounts to use for transactions (a) through (), each identified by a...
1. Listed below are accounts to use for transactions (a) through (), each identified by a number. Following this list are the transactions. You are to indicate for each transaction the accounts that should be debited and credited by placing the account number(s) in the appropriate box. 1. Accounts Payable Accounts Receivable 3. Accumulated Depreciation Office Equipment - Building s owner's Capital Cash 2 Depreciation Expense Office Equipment Owner's Drawing Fees Eamed 10 insurance Expense 11. Insurance Payable 12 interest...
requirea .. In parallel columns, list the accounts that would be debited and credited for each...
requirea .. In parallel columns, list the accounts that would be debited and credited for each of the following unrelated transactions: (1) Acquired cash from the issue of common stock (2) Provided services for cash. (3) Paid cash for salaries expense (4) Purchased supplies for cash. (5) Paid in advance for two-year lease on office space. (6) Provided services on account (7) Recognized expense for prepaid rent that had been used up by the end of the accounting period (8)...
Transaction Analysis and Trial Balance Make T-accounts for the following accounts that appear in the general...
Transaction Analysis and Trial Balance Make T-accounts for the following accounts that appear in the general ledger of Mead Pet Hospital, owned by R. Mead, a veterinarian Cash: Accounts Receivable: Supplies Office Equipment Accounts Payable; Common Stock Dividends: Professional Fees Earned: Salaries Expense, and Rent Expense. Using the accounting equation, record each of the transactions in columnar format. Prepare journal entries and record the following December transactions in the T- accounts and key all entries with the number identifying the...
QUESTION 14 Identify the account to be debited and the account to be credited for each of the following transactions: 1 Purchased equipment for cash and a note payable. 2. Accepted a cash deposit from a customer for a service to be provided next month. 3. Provided services on account. 4. Purchased supplies on account. 5. Received payment form the client in 3. 6. Provided services to customer in 2 and collected cash for the remaining work done. 7. Owner...
Required a. In parallel columns, list the accounts that would be debited and credited for each of the following unrelated transactions: Event Account Debited Account Credited (1) Acquired cash from the issue of common stock. (2) Provided services for cash. (3) Paid cash for salaries expense. (4) Purchased supplies for cash. (5) Paid in advance for two-year lease on office space. (6) Provided services on account. |(7) Recognized expense for prepaid rent that had been used up by the end...
20. For each transaction, identify which account is debited and which account is credited. Use proper account titles (Cash, Accounts Receivable, etc.). Debit Credit Transaction Received a bill for utilities to be paid next month Performed services on account Paid employees' salaries Paid cash for a 6-month insurance policy, with coverage starting next month Paid dividends to stockholders Borrowed cash and signed a promissory note Used up warehouse supplies Received cash from a customer to pay on their account Received...
1. Listed below are accounts to use for transactions (a) through (j), each identified by a number. Following this list are the transactions. You are to indicate for each transaction the accounts that should be debited and credited by placing the account number(s) in the appropriate box. Accounts Payable 2. Accounts Receivable 3. Accumulated Depreciation Office Equipmeng 4. Building 5. Owner's Capital Cash 2 Depreciation Expense-Office Equipment Owner's Drawing 2 Fees Earned 10 Insurance Expense 11. Insurance Payable 12. Interest...
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 B. Accounts receivable C Cash D. Common stock E. Dividends F. Equipment G. Notes payable H. Prepaid rent L. Rent expense J. Retained earnings...
Listed below are accounts to use for transactions (a) through (1), each identified by a number. Following this list are the transactions. You are to indicate for each transaction the accounts that should be debited and credited by placing the account number(s) in the appropriate box. 1. Accounts Payable 2. Accounts Receivable 3. Accumulated Depreciation - Office Equipment 4. Building 5. Common Stock 6. Cash 7. Depreciation Expense-Office Equipment 8. Dividends 9. Fees Earned 10. Insurance Expense 11. Insurance Payable...
1. Listed below are accounts to use for transactions (a) through (), each identified by a number. Following this list are the transactions. You are to indicate for each transaction the accounts that should be debited and credited by placing the account number(s) in the appropriate box. 1. Accounts Payable Accounts Receivable 3. Accumulated Depreciation Office Equipment - Building s owner's Capital Cash 2 Depreciation Expense Office Equipment Owner's Drawing Fees Eamed 10 insurance Expense 11. Insurance Payable 12 interest...
requirea .. In parallel columns, list the accounts that would be debited and credited for each of the following unrelated transactions: (1) Acquired cash from the issue of common stock (2) Provided services for cash. (3) Paid cash for salaries expense (4) Purchased supplies for cash. (5) Paid in advance for two-year lease on office space. (6) Provided services on account (7) Recognized expense for prepaid rent that had been used up by the end of the accounting period (8)...
Transaction Analysis and Trial Balance Make T-accounts for the following accounts that appear in the general ledger of Mead Pet Hospital, owned by R. Mead, a veterinarian Cash: Accounts Receivable: Supplies Office Equipment Accounts Payable; Common Stock Dividends: Professional Fees Earned: Salaries Expense, and Rent Expense. Using the accounting equation, record each of the transactions in columnar format. Prepare journal entries and record the following December transactions in the T- accounts and key all entries with the number identifying the...
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