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Complete the following table. For each account listed on the left, fill in what category it...
Prepare a chart of accounts. Start by selecting the balance sheet accounts, and then complete the...
Prepare a chart of accounts. Start by selecting the balance sheet accounts, and then complete the chart of accounts by selecting the income statement accounts the accounts. Il a box is not used in the chant of accounts, leave the box empty Note that in some cases in may be necessary to select a general account in which Balance Sheet Accounts More Info Assets Liabilities Owner's Equity Microsoft Surface Tablet Salary Expense Accounts Payable Accounts Receivable Repair Expense Legal Fees...
For each of the following (1) identify the type of account as an asset, lability, equity,...
For each of the following (1) identify the type of account as an asset, lability, equity, revenue, or expense. (2) identify the normal balance of the account, and (3) select debit (Dr) or credit (Cr.) to identify the kind of entry that would increase the account balance Type of Account Normal Balance Increase (Dr. or Cr.) a. Land b. Cash c. Legal Expense d. Prepaid Insurance e Accounts Receivable f Owner, Withdrawals g License Fee Revenue h. Unearned Revenue i...
The Adjusted Trial Balance for Planta Company follows. Complete the work sheet by extending the account...
The Adjusted Trial Balance for Planta Company follows. Complete the work sheet by extending the account balances into the appropriate financial statement columns and by entering the amount of net income for the reporting period. PLANTA COMPANY Work Sheet Adjusted Trial Balance Income Statement Balance Sheet and Statement of Owner's Equity Dr. Cr. Cr. Dr. Cr. Dr. 6,700 29,279 40,500 $ 16,281 30,000 15,611 No. Account Title 101 Cash 106 Accounts receivable 153 Trucks 154 Accumulated depreciation-Trucks 183 Land 201...
The Adjusted Trial Balance for Planta Company follows. Complete the work sheet by extending the account...
The Adjusted Trial Balance for Planta Company follows. Complete the work sheet by extending the account balances into the appropriate financial statement columns and by entering the amount of net income for the reporting period. PLANTA COMPANY Work Sheet Adjusted Trial Balance Income Statement No. Account Title Cr. Or. cr. Balance Sheet and Statement of Owner's Equity Dr. Co 54,800 20.976 Dr. 4.800 20,976 41.500 $ 41 500 516 630 S1653 30.000 0.000 101 Cash 106 Accounts receivable 153 Trucks...
39. Cash was paid by Janer's Cleaning Service to creditors on account. Which of the following...
39. Cash was paid by Janer's Cleaning Service to creditors on account. Which of the following entries for Janer's Cleaning Service records this transaction? a. Cash, debit; Debbi Janer, Capital, credit b. Accounts Payable, debit; Cash, credit c. Accounts Receivable, debit; Cash, credit d. Accounts Payable, debit; Accounts Receivable, credit 40. Which of the following statements is not true about liabilities? a. Liabilities are debts owed to outsiders. b. Account titles of liabilities often include the term "payable." c. Cash...
For each of the accounts listed, identify a. the side (debit or credit) of the account...
For each of the accounts listed, identify a. the side (debit or credit) of the account that makes it increase; b. the normal balance of the account on the trial balance, and c. on what financial statement it appears. a. b. c. Account Name Increases with Debit or Credit? Normal balance on a trial balance Debit or Credit? Appears in which Financial Statement? 1. Cash ...
QUESTION 15 Match each of the following accounts with its proper account group from groups listed...
QUESTION 15 Match each of the following accounts with its proper account group from groups listed below. Unearned Rent Prepaid Insurance Fees Earned a. Assets b. Liabilities c. Stockholders' Equity d. Revenue e. Expenses Patents Dividends QUESTION 16 Match the following items to the financial statement where they can be found. (Hint: Some of the items can be found on more Click Save and Submit to save and submit. Click Save All Answers to save all answers.
QUESTION ONE 1.1 There are ten (10) accounts listed on the following table. Complete the table...
QUESTION ONE 1.1 There are ten (10) accounts listed on the following table. Complete the table by identifying and recording the element to which each account will be allocated and state whether the account will be shown in the statement of financial position (SOFP), the statement of changes in equity (SOCE) or the statement of profit or loss and other comprehensive income (SOCI). You may use the abbreviated form of the relevant statement as shown in the example below: No...
39. Cash was paid by Janer's Cleaning Service to creditors on account. Which of the following...
39. Cash was paid by Janer's Cleaning Service to creditors on account. Which of the following entries for Janer's Cleaning Service records this transaction? a. Cash, debit; Debbi Janer, Capital, credit b. Accounts Payable, debit; Cash, credit c. Accounts Receivable, debit; Cash, credit d. Accounts Payable, debit; Accounts Receivable, credit 40. Which of the following statements is not true about liabilities? a. Liabilities are debts owed to outsiders. b. Account titles of liabilities often include the term "payable." e. Cash...
EXTRA CREDIT QUESTION (10 POINTS) Complete the template for the expanded accounting equation below: Write in the classification of each T account. 2. Fill in the boxes to indicate whether each...
EXTRA CREDIT QUESTION (10 POINTS) Complete the template for the expanded accounting equation below: Write in the classification of each T account. 2. Fill in the boxes to indicate whether each T account is added or subtracted. . Use the and -signs to indicate whether the debit or the credit increases () or decreases -) the acco Dr. Cr Dr. Cr Dr. Cr. Dr. Cr. MULTIPLE CHOICE (60 POINTS). Choose the best answer of the options provided. Record your answers...
Prepare a chart of accounts. Start by selecting the balance sheet accounts, and then complete the chart of accounts by selecting the income statement accounts the accounts. Il a box is not used in the chant of accounts, leave the box empty Note that in some cases in may be necessary to select a general account in which Balance Sheet Accounts More Info Assets Liabilities Owner's Equity Microsoft Surface Tablet Salary Expense Accounts Payable Accounts Receivable Repair Expense Legal Fees...
For each of the following (1) identify the type of account as an asset, lability, equity, revenue, or expense. (2) identify the normal balance of the account, and (3) select debit (Dr) or credit (Cr.) to identify the kind of entry that would increase the account balance Type of Account Normal Balance Increase (Dr. or Cr.) a. Land b. Cash c. Legal Expense d. Prepaid Insurance e Accounts Receivable f Owner, Withdrawals g License Fee Revenue h. Unearned Revenue i...
The Adjusted Trial Balance for Planta Company follows. Complete the work sheet by extending the account balances into the appropriate financial statement columns and by entering the amount of net income for the reporting period. PLANTA COMPANY Work Sheet Adjusted Trial Balance Income Statement Balance Sheet and Statement of Owner's Equity Dr. Cr. Cr. Dr. Cr. Dr. 6,700 29,279 40,500 $ 16,281 30,000 15,611 No. Account Title 101 Cash 106 Accounts receivable 153 Trucks 154 Accumulated depreciation-Trucks 183 Land 201...
The Adjusted Trial Balance for Planta Company follows. Complete the work sheet by extending the account balances into the appropriate financial statement columns and by entering the amount of net income for the reporting period. PLANTA COMPANY Work Sheet Adjusted Trial Balance Income Statement No. Account Title Cr. Or. cr. Balance Sheet and Statement of Owner's Equity Dr. Co 54,800 20.976 Dr. 4.800 20,976 41.500 $ 41 500 516 630 S1653 30.000 0.000 101 Cash 106 Accounts receivable 153 Trucks...
39. Cash was paid by Janer's Cleaning Service to creditors on account. Which of the following entries for Janer's Cleaning Service records this transaction? a. Cash, debit; Debbi Janer, Capital, credit b. Accounts Payable, debit; Cash, credit c. Accounts Receivable, debit; Cash, credit d. Accounts Payable, debit; Accounts Receivable, credit 40. Which of the following statements is not true about liabilities? a. Liabilities are debts owed to outsiders. b. Account titles of liabilities often include the term "payable." c. Cash...
QUESTION 15 Match each of the following accounts with its proper account group from groups listed below. Unearned Rent Prepaid Insurance Fees Earned a. Assets b. Liabilities c. Stockholders' Equity d. Revenue e. Expenses Patents Dividends QUESTION 16 Match the following items to the financial statement where they can be found. (Hint: Some of the items can be found on more Click Save and Submit to save and submit. Click Save All Answers to save all answers.
QUESTION ONE 1.1 There are ten (10) accounts listed on the following table. Complete the table by identifying and recording the element to which each account will be allocated and state whether the account will be shown in the statement of financial position (SOFP), the statement of changes in equity (SOCE) or the statement of profit or loss and other comprehensive income (SOCI). You may use the abbreviated form of the relevant statement as shown in the example below: No...
39. Cash was paid by Janer's Cleaning Service to creditors on account. Which of the following entries for Janer's Cleaning Service records this transaction? a. Cash, debit; Debbi Janer, Capital, credit b. Accounts Payable, debit; Cash, credit c. Accounts Receivable, debit; Cash, credit d. Accounts Payable, debit; Accounts Receivable, credit 40. Which of the following statements is not true about liabilities? a. Liabilities are debts owed to outsiders. b. Account titles of liabilities often include the term "payable." e. Cash...
EXTRA CREDIT QUESTION (10 POINTS) Complete the template for the expanded accounting equation below: Write in the classification of each T account. 2. Fill in the boxes to indicate whether each T account is added or subtracted. . Use the and -signs to indicate whether the debit or the credit increases () or decreases -) the acco Dr. Cr Dr. Cr Dr. Cr. Dr. Cr. MULTIPLE CHOICE (60 POINTS). Choose the best answer of the options provided. Record your answers...
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