Homework Answers
Journal entry:
Office supplies account Dr
To Bank / cash account
(Being office supplies bought recorded)
Option - D office supplies
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A business buys $300 of office supplies on account. Which of the following accounts is debited?...
Which of the following costs for a delivery vehicle should NOT be capitalized? O A. repair...
Which of the following costs for a delivery vehicle should NOT be capitalized? O A. repair dented fender OB repair air conditioning system OC. service ar conditioning system OD. all of the above Abusiness purchased office supplies of $29,000 on account. The business would O A. debit Accounts Payable for $29,000 and credit Supplies for $29,000. OB. debit Accounts Receivable for $29,000 and credit Supplies for $29,000. OC. debit Supplies for $29,000 and credit Cash for $29,000 O D. debit...
Carrier Travelhas Cash of $300, Accounts Receivable of $1.000 and Office Supplies of $700 Carrier owes...
Carrier Travelhas Cash of $300, Accounts Receivable of $1.000 and Office Supplies of $700 Carrier owes $600 on Accounts Payable and has Salaries Payable of $100 Carrier's current ratio is (Pound the current as to wo decimal places) OA 035 B 163 OC 059 OD 20
When the owner of a business invests cash into the business, which of the following accounts...
When the owner of a business invests cash into the business, which of the following accounts is debited? O A. Common Shares OB. Accounts Receivable O C. Cash OD. Dividends Click to select your answer
This Question: 1 pt 3 of 20 (0 complete) This Test:20p Sedlor Properties purchased office supplies...
This Question: 1 pt 3 of 20 (0 complete) This Test:20p Sedlor Properties purchased office supplies on account for $800 Which journal entry records the payment on account of those office supplies? (Assuifle the occurred in a prior period.) Date Accounts and Explanation Debit Credit 800 OA. Office Supplies Cash OB. Accounts Payable Cash 800 OC Accounts Payable Accounts Receivable 800 OD. Cash 800 Accounts Payable answer De here to search
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...
A business has the following transactions: The business received $15,000 cash from owner contribution. The business...
A business has the following transactions: The business received $15,000 cash from owner contribution. The business purchases $800 of office supplies on account. The business purchases $4,000 of furniture on account. * The business renders services to various clients totaling $11,000 on account. * The business pays out $2,000 for salaries expense and $6,000 for rent expense. The business pays $800 to supplier for the office supplies purchased earlier. The business collects $3,000 from one of its clients for services...
A business purchases $500 of office supplies on account. What is the effect on the accounting...
A business purchases $500 of office supplies on account. What is the effect on the accounting equation? A. Office Supplies increase and Accounts Payable decrease B. Office Supplies increase and Cash decreases C. Total assets increase and total liabilities decrease D. Office Supplies increase and Accounts Payable increase
What would be the effect on the accounts if the business provided services to a customer...
What would be the effect on the accounts if the business provided services to a customer on account? O A. An asset would be debited and an expense credited. OB. An asset would be debited and Revenue credited. O C. Capital would be debited and Revenue credited. OD. An asset would be debited and Capital credited. Click to select your answer. Type here to search one A Net income or net loss for a period is calculated by the following...
A company purchases office supplies for $3,500, paying $1,000 cash and the remainder on account. The...
A company purchases office supplies for $3,500, paying $1,000 cash and the remainder on account. The entry to record this transaction is: Select one: O A. Debit: Supplies for $3,500; Credit Accounts payable for $3,500 . B. Debit: Supplies for $3,500; Credit: Cash for $1,000; Credit Accounts payable for $2,500 OC. Debit: Supplies for $3,500; Credit Supplies expense for $3,500 O D. Debit: Supplies for $1000; Credit Accounts payable for $1,000
20. Tom Jones started the coffee shop business with $ 300 of office supplies. He has...
20. Tom Jones started the coffee shop business with $ 300 of office supplies. He has $ 200 of office supplies left at the end of the month. Record the entry for the office supplies used during the month (6 points). 21. Account Debit Credit 22. Calculate the balance in the cash account (4 points). Cash Debit Credit 400 200 600 300 23.Complete the trial balance (5 points). Cash 500 Accounts Payable 100 Capital 300 Drawi 200 Revenue Rent Expense...
Which of the following costs for a delivery vehicle should NOT be capitalized? O A. repair dented fender OB repair air conditioning system OC. service ar conditioning system OD. all of the above Abusiness purchased office supplies of $29,000 on account. The business would O A. debit Accounts Payable for $29,000 and credit Supplies for $29,000. OB. debit Accounts Receivable for $29,000 and credit Supplies for $29,000. OC. debit Supplies for $29,000 and credit Cash for $29,000 O D. debit...
Carrier Travelhas Cash of $300, Accounts Receivable of $1.000 and Office Supplies of $700 Carrier owes $600 on Accounts Payable and has Salaries Payable of $100 Carrier's current ratio is (Pound the current as to wo decimal places) OA 035 B 163 OC 059 OD 20
When the owner of a business invests cash into the business, which of the following accounts is debited? O A. Common Shares OB. Accounts Receivable O C. Cash OD. Dividends Click to select your answer
This Question: 1 pt 3 of 20 (0 complete) This Test:20p Sedlor Properties purchased office supplies on account for $800 Which journal entry records the payment on account of those office supplies? (Assuifle the occurred in a prior period.) Date Accounts and Explanation Debit Credit 800 OA. Office Supplies Cash OB. Accounts Payable Cash 800 OC Accounts Payable Accounts Receivable 800 OD. Cash 800 Accounts Payable answer De here to search
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...
A business has the following transactions: The business received $15,000 cash from owner contribution. The business purchases $800 of office supplies on account. The business purchases $4,000 of furniture on account. * The business renders services to various clients totaling $11,000 on account. * The business pays out $2,000 for salaries expense and $6,000 for rent expense. The business pays $800 to supplier for the office supplies purchased earlier. The business collects $3,000 from one of its clients for services...
What would be the effect on the accounts if the business provided services to a customer on account? O A. An asset would be debited and an expense credited. OB. An asset would be debited and Revenue credited. O C. Capital would be debited and Revenue credited. OD. An asset would be debited and Capital credited. Click to select your answer. Type here to search one A Net income or net loss for a period is calculated by the following...
A company purchases office supplies for $3,500, paying $1,000 cash and the remainder on account. The entry to record this transaction is: Select one: O A. Debit: Supplies for $3,500; Credit Accounts payable for $3,500 . B. Debit: Supplies for $3,500; Credit: Cash for $1,000; Credit Accounts payable for $2,500 OC. Debit: Supplies for $3,500; Credit Supplies expense for $3,500 O D. Debit: Supplies for $1000; Credit Accounts payable for $1,000
20. Tom Jones started the coffee shop business with $ 300 of office supplies. He has $ 200 of office supplies left at the end of the month. Record the entry for the office supplies used during the month (6 points). 21. Account Debit Credit 22. Calculate the balance in the cash account (4 points). Cash Debit Credit 400 200 600 300 23.Complete the trial balance (5 points). Cash 500 Accounts Payable 100 Capital 300 Drawi 200 Revenue Rent Expense...
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