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Select each statement either the word "debit" or "credit." 1. An asset account is increased with...
Benner Hair Salon ADJUSTED TRIAL BALANCE March 31, 20.- DEBIT CREDIT ACCOUNT TITLE 1 Cash 4,440.00...
Benner Hair Salon ADJUSTED TRIAL BALANCE March 31, 20.- DEBIT CREDIT ACCOUNT TITLE 1 Cash 4,440.00 150.00 2 Supplies 3 Prepaid Insurance 2,354.00 10,507.00 1,000.00 4 Equipment 5 Accumulated Depreciation Equipment 6 Accounts Payable 240.00 13,449.00 7 A. Benner, Capital 8 A.Benner, Drawing 1,500.00 6,230.00 9 Salon Fees 1,036.00 10 Wages Expense 650.00 11 Rent Expense 12 Utilities Expense 130.00 65.00 13 Repair Expense 87.00 14 Miscellaneous Expenses 20,919.00 20,919.00 15 Totals Data for month-end adjustments are as follows: a....
Tyler paid $3,700 on account to the company from which equipment was purchased on credit. This transaction would increase assets and increase owner's equity. decrease assets and decrease liabil...
Tyler paid $3,700 on account to the company from which equipment was purchased on credit. This transaction would increase assets and increase owner's equity. decrease assets and decrease liabilities. increase assets and increase liabilities. increase one asset and decrease another asset. An example of an expense is withdrawals by the owner. supplies consumed. prepaid insurance. investments. Asset and expense accounts normally have credit balances. large balances. debit balances. negative balances. Accounts that affect owner's equity are expenses, capital, and revenue....
Which of the following is a revenue account?
Which of the following is a revenue account?retained earningsfees earnedrent expenseunearned revenueWhich of the following accounts is increased with a debit?common stockprepaid insurancefees earnedunearned revenueWhich of the following errors will cause the trial balance totals to be unequal?entering an incorrect amount on the trial balancefailure to record a transaction or to post a transactionrecording the same transaction more than oncerecording the same erroneous amount for both the debit and the credit parts of a transactionWhich of the following types of...
Calculator Credit Use the adjusted trial balance below. Adjusted Trial Balance Account Title Debit Cash 26,000...
Calculator Credit Use the adjusted trial balance below. Adjusted Trial Balance Account Title Debit Cash 26,000 Accounts Receivable 3,300 Prepaid Insurance 6,600 Supplies 1,200 Land 42,300 Equipment 5,700 Accumulated Depreciation Equipment Accounts Payable þwner, Capital pwner, Drawing 3,200 Service Fees Wages Expense 8,500 Supplies Expense 2,100 Utilities Expense 200 Insurance Expense 100 Depreciation Expense-Equipment 5,500 104,700 5,500 5,300 73,900 20,000 104,700 a. For each account, open a T account, title the account, and place its balance in it. Cash Accounts...
1. Place the word “debit or “credit” in the column indicating where and what the “normal...
1. Place the word “debit or “credit” in the column indicating where and what the “normal balance” of each of the following listed accounts would appear. ACCOUNT ASSET LIABILITY STOCKHOLDER'S EQUITY Accounts Receivable Common Stock Rent Expense Prepaid Insurance Accounts Payable Building Unearned Income Dividends Depreciation Expense Inventory
VICCJ CO. as asse, lability, owner's equity, credit: Type of Account Debit or Credit Item a....
VICCJ CO. as asse, lability, owner's equity, credit: Type of Account Debit or Credit Item a. Accounts Payable b. Accounts Receivable C. Ashley Griffin, Capital d. Ashley Griffin, Drawing e. Cash Asset Liability Owner's equity f. Fees Earned Revenue Expense g. Office Equipment h. Rent Expense i. Supplies j. Wages Expense Transactions Concrete Consulting Co. has the following accounts in its ledger: Cash; Accounts Receivable; Supplies; Office Equipment; Accounts Payable; lason Payne, Capital; Jason Payne, Drawing: Fees Earned; Rent Expense;...
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...
Indicate with an “X” whether each account total should be extended to the income statement debit...
Indicate with an “X” whether each account total should be extended
to the income statement debit or credit or to the balance sheet
debit or credit columns on the work sheet.
balaiice Sheet Debit CreditDebit Cash Accounts Receivable Supplies Prepaid Insurance Automobile Accum. Depr-Automobile Accounts Payable Wages Payable Owner, Capital Owner, Drawing Service Fees Wages Expense Supplies Expense Utilities Expense Insurance Expense Depr. Exp.-Automobile ANALYSIS OF NET INCOME OR NET LOSS ON THE WORK SHEET Inser dollar amounts where the...
For the accounts listed below, identify the type of account (asset, liability, owner’s capital, owner’s drawing,...
For the accounts listed below, identify the type of account (asset, liability, owner’s capital, owner’s drawing, revenue, or expense), the normal balance (debit or credit), and which financial statement you would find the account on (income statement, owner’s equity statement, or balance sheet). Type of Account Normal Balance Financial Statement A Cash B Accounts Payable C Rent Expense D Accumulated Depreciation E Interest Revenue F Notes Payable G Advertising Expense H Owner's Drawings I Equipment J Owner's Capital K Sales...
Identify the type of account (asset, liability, equity) and the normal balance (debit or credit) for...
Identify the type of account (asset, liability, equity) and the normal balance (debit or credit) for each account. a. Cash b. Dividends c. Office Equipment d. Accounts Payable e. Utilities Expense f. Common Stock g. Prepaid Insurance h. Service Revenues
Benner Hair Salon ADJUSTED TRIAL BALANCE March 31, 20.- DEBIT CREDIT ACCOUNT TITLE 1 Cash 4,440.00 150.00 2 Supplies 3 Prepaid Insurance 2,354.00 10,507.00 1,000.00 4 Equipment 5 Accumulated Depreciation Equipment 6 Accounts Payable 240.00 13,449.00 7 A. Benner, Capital 8 A.Benner, Drawing 1,500.00 6,230.00 9 Salon Fees 1,036.00 10 Wages Expense 650.00 11 Rent Expense 12 Utilities Expense 130.00 65.00 13 Repair Expense 87.00 14 Miscellaneous Expenses 20,919.00 20,919.00 15 Totals Data for month-end adjustments are as follows: a....
Calculator Credit Use the adjusted trial balance below. Adjusted Trial Balance Account Title Debit Cash 26,000 Accounts Receivable 3,300 Prepaid Insurance 6,600 Supplies 1,200 Land 42,300 Equipment 5,700 Accumulated Depreciation Equipment Accounts Payable þwner, Capital pwner, Drawing 3,200 Service Fees Wages Expense 8,500 Supplies Expense 2,100 Utilities Expense 200 Insurance Expense 100 Depreciation Expense-Equipment 5,500 104,700 5,500 5,300 73,900 20,000 104,700 a. For each account, open a T account, title the account, and place its balance in it. Cash Accounts...
1. Place the word “debit or “credit” in the column indicating where and what the “normal balance” of each of the following listed accounts would appear. ACCOUNT ASSET LIABILITY STOCKHOLDER'S EQUITY Accounts Receivable Common Stock Rent Expense Prepaid Insurance Accounts Payable Building Unearned Income Dividends Depreciation Expense Inventory
VICCJ CO. as asse, lability, owner's equity, credit: Type of Account Debit or Credit Item a. Accounts Payable b. Accounts Receivable C. Ashley Griffin, Capital d. Ashley Griffin, Drawing e. Cash Asset Liability Owner's equity f. Fees Earned Revenue Expense g. Office Equipment h. Rent Expense i. Supplies j. Wages Expense Transactions Concrete Consulting Co. has the following accounts in its ledger: Cash; Accounts Receivable; Supplies; Office Equipment; Accounts Payable; lason Payne, Capital; Jason Payne, Drawing: Fees Earned; Rent Expense;...
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...
Indicate with an “X” whether each account total should be extended
to the income statement debit or credit or to the balance sheet
debit or credit columns on the work sheet.
balaiice Sheet Debit CreditDebit Cash Accounts Receivable Supplies Prepaid Insurance Automobile Accum. Depr-Automobile Accounts Payable Wages Payable Owner, Capital Owner, Drawing Service Fees Wages Expense Supplies Expense Utilities Expense Insurance Expense Depr. Exp.-Automobile ANALYSIS OF NET INCOME OR NET LOSS ON THE WORK SHEET Inser dollar amounts where the...
Identify the type of account (asset, liability, equity) and the normal balance (debit or credit) for each account. a. Cash b. Dividends c. Office Equipment d. Accounts Payable e. Utilities Expense f. Common Stock g. Prepaid Insurance h. Service Revenues
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