For each of the following transactions of Woods Inc., identify the accounts effected and the whether...
For each of the following transactions of Woods Inc., identify the accounts effected and the whether they were increased or decreased.
1. Purchased 18-month insurance policy for cash.
2. Paid weekly payroll.
3. Purchased supplies on account.
4. Received utility bill to be paid at later date.
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Transaction |
Accounts |
Increase/Decrease |
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1 |
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2 |
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3 |
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4 |
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Homework Answers
| Accounts | Increase/Decrease | |
| 1 | Prepaid Insurance | Increase |
| Cash | Decrease | |
| 2 | Salaries and wages expense | Increase |
| Cash | Decrease | |
| 3 | Supplies | Increase |
| Accounts payable | Increase | |
| 4 | Utilities expense | Increase |
| Accounts payable | Increase |
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For each of the following transactions of Woods Inc., identify
the accounts effected and the whether...
For each of the following transactions of Woods Inc., identify the accounts affected whether they were...
For each of the following transactions of Woods Inc., identify the accounts affected whether they were increased or decreased. Transaction Accounts Increase/Decrease 1. Purchased 18-month insurance policy for cash. Salaries and Wages ExpenseAccounts PayablePrepaid InsuranceCashUtilities ExpenseSupplies IncreaseDecrease ...
Enter the following transactions in the T-accounts below. Use key letters to identify each transaction. Foot...
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1. Listed below are accounts to use for transactions (a) through (j), each identified by a...
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For each item below, indicate whether a debitor credit applies. 1. Decrease in Notes Payable 2....
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ament CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Analyze the transactions of a business organized as a proprietorship described below and indicate whether the transaction increased, decreased or increased and decreased the accounting equation. Owner's Equity Assets Liabilities Decreased Increased 1. Received cash for services rendered Increase Decreased - 2. Purchased office equipment on credit Increased Decreased 3. Paid employees salaries. Decreased increased Received cash from customer in payment on account Decreased d 5. Paid telephone bill for the month....
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