Homework Answers
Answer:
| Which two accounts are affected? | Accounts receivable | Service revenue |
| What kind of accounts are they? | Asset account | Revenue account |
| Do the account balances increase or decrease? | Increase | Increase |
| Do we debit or credit the accounts? | Debit | Credit |
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For the following transaction, answer the questions that follow in accordance with the rules of journalizi...
Joum entry with the step-through method For the following transaction, answer the questions that follow in...
Joum entry with the step-through method For the following transaction, answer the questions that follow in accordance with the rules of journalizing and the Transaction: Taylor Company paid balance due of $4,500 on equipment that had been previously purchased on account < which two accounts are affected? Choose one Choose one Choose one < What kind of accounts are they? Choose one Increase Decrease Do the account balances increase or decrease? Increase Decrease Debit Credit Credit Do we debit or...
ACCOUNTING CYCLE Basic journal entry with the step-through method For the following transaction, answer the questions...
ACCOUNTING CYCLE Basic journal entry with the step-through method For the following transaction, answer the questions that follow in accordance with the rules of journalizi Transaction: Flores Company purchased equipment for $3,800 cash. Which two accounts are affected? Choose one Choose one What kind of accounts are they? Choose one Choose one Do the account balances increase or decrease? Increase O Decrease Increase Decrease Do we debit or credit the accounts? O Debit Credit Debit Credit х $
ACCOUNTING CYCLE Basic journal entry with the step-through method For the following transaction, answer the questions...
ACCOUNTING CYCLE Basic journal entry with the step-through method For the following transaction, answer the questions that follow in accordance with the rules of journalizing and the Transaction: Stewart Company placed an ad in the local paper for the current month to be paid next month, $1,600. which two accounts are affected? Choose one Choose one V What kind of accounts are they? Choose one Choose one Do the account balances increase or decrease? Increase Decrease Increase Decrease Do we...
ACCOUNTING CYCLE Basic journal entry with the step-through method or the following transaction, answer the questions...
ACCOUNTING CYCLE Basic journal entry with the step-through method or the following transaction, answer the questions that follow in accordance with the rules of journalizing and ransaction: Owner withdrew $2,900 cash for personal use. which two accounts are affected? Choose one V Choose one What kind of accounts are they? Choose one Choose one Decrease Increase Decrease Do the account balances increase or decrease? Increase Credit Debit Credit Debit Do we debit or credit the accounts? Х $ ?
LO4. How do you analyze a transaction? a) In your own words, what is transaction? b)...
LO4. How do you analyze a transaction? a) In your own words, what is transaction? b) Which accounts would be affected by each of the following transactions and identify if the account would increase or decrease. i) The business receives cash from John Jones in exchange for capital Example: Cash (Increase) and Jones, Capital (Increase) ii) The company paid cash for land iii) Performed services for clients on account iv) Purchased Office Supplies on account
Question 1: Who is required to follow GAAP? Question 2: Who creates the rules for GAAP?...
Question 1: Who is required to follow GAAP? Question 2: Who creates the rules for GAAP? Question 3: What is the purpose of GAAP? Questions 4-6: Show how the following transactions would affect the Accounting Equation Question 4: James purchases a $5,000 piece of equipment. Question 5: James writes his monthly check for rent: $3,000. Question 6: James takes out a $25,000 loan with his bank. Questions 7-9: Create journal entries to record the following transactions Question 7: James purchases...
Journalize the following transactions into the general journal in accordance with the rules of Journalizing, and th...
Journalize the following transactions into the general journal in accordance with the rules of Journalizing, and the Double-entry accounting system. May September 30 8 Walker Company receives $6,100 payment from a customer on account Walker Company pays balance due of $3,300 on tools previously purchased. Date Account Title Debit Credit May Cash 8 6,100 Accounts Receivable 6,100 Sept. Supplies Expense 30 3,300 Accounts Payable 3,300
Solve these problem please i need a good explanation for these thank you! This exercise will...
Solve these problem please
i need a good explanation for these
thank you!
This exercise will continue the understanding of the accounting equation and double entry accounting that began in the prior chapter. In this chapter we will revisit the prior worksheet, but add a step. So here students must: 1. Identify what account(s) are affected by the transaction. 2. Identify if the affected accounts are increased or decreased by the transaction. 3. Determine if increasing (decreasing) the account is...
Bull Co. issues $32,080 of capital stock for cash. Required: For the transaction above, complete the...
Bull Co. issues $32,080 of capital stock for cash. Required: For the transaction above, complete the following: (a) Select the accounts that are affected (there will be at least two). (b) Are the selected accounts increased or decreased? (c) What is the dollar amount of change in the accounts? (d) If Retained is selected, choose the reason that it has changed. Account Which accounts are affected? Is the account increased or decreased? Increase Decrease What is the amount of transaction?...
Hello I need help with this please I need to follow instructions in order to get...
Hello I need help with this please I need to follow instructions
in order to get all points. This is from principals of accounting
and please post in a picture. It needs to be detailed
Thank you
bellow are some examples of the answers I need, I need to post
an answer for both examples as well five sentences at least
EXAMPLE 1 NEED AN ANSWER
EXAMPLE 2 NEED AN ANSWER
THANK YOU
In this chapter we were provided a...
Joum entry with the step-through method For the following transaction, answer the questions that follow in accordance with the rules of journalizing and the Transaction: Taylor Company paid balance due of $4,500 on equipment that had been previously purchased on account < which two accounts are affected? Choose one Choose one Choose one < What kind of accounts are they? Choose one Increase Decrease Do the account balances increase or decrease? Increase Decrease Debit Credit Credit Do we debit or...
ACCOUNTING CYCLE Basic journal entry with the step-through method For the following transaction, answer the questions that follow in accordance with the rules of journalizi Transaction: Flores Company purchased equipment for $3,800 cash. Which two accounts are affected? Choose one Choose one What kind of accounts are they? Choose one Choose one Do the account balances increase or decrease? Increase O Decrease Increase Decrease Do we debit or credit the accounts? O Debit Credit Debit Credit х $
ACCOUNTING CYCLE Basic journal entry with the step-through method For the following transaction, answer the questions that follow in accordance with the rules of journalizing and the Transaction: Stewart Company placed an ad in the local paper for the current month to be paid next month, $1,600. which two accounts are affected? Choose one Choose one V What kind of accounts are they? Choose one Choose one Do the account balances increase or decrease? Increase Decrease Increase Decrease Do we...
ACCOUNTING CYCLE Basic journal entry with the step-through method or the following transaction, answer the questions that follow in accordance with the rules of journalizing and ransaction: Owner withdrew $2,900 cash for personal use. which two accounts are affected? Choose one V Choose one What kind of accounts are they? Choose one Choose one Decrease Increase Decrease Do the account balances increase or decrease? Increase Credit Debit Credit Debit Do we debit or credit the accounts? Х $ ?
LO4. How do you analyze a transaction? a) In your own words, what is transaction? b) Which accounts would be affected by each of the following transactions and identify if the account would increase or decrease. i) The business receives cash from John Jones in exchange for capital Example: Cash (Increase) and Jones, Capital (Increase) ii) The company paid cash for land iii) Performed services for clients on account iv) Purchased Office Supplies on account
Journalize the following transactions into the general journal in accordance with the rules of Journalizing, and the Double-entry accounting system. May September 30 8 Walker Company receives $6,100 payment from a customer on account Walker Company pays balance due of $3,300 on tools previously purchased. Date Account Title Debit Credit May Cash 8 6,100 Accounts Receivable 6,100 Sept. Supplies Expense 30 3,300 Accounts Payable 3,300
Solve these problem please
i need a good explanation for these
thank you!
This exercise will continue the understanding of the accounting equation and double entry accounting that began in the prior chapter. In this chapter we will revisit the prior worksheet, but add a step. So here students must: 1. Identify what account(s) are affected by the transaction. 2. Identify if the affected accounts are increased or decreased by the transaction. 3. Determine if increasing (decreasing) the account is...
Bull Co. issues $32,080 of capital stock for cash. Required: For the transaction above, complete the following: (a) Select the accounts that are affected (there will be at least two). (b) Are the selected accounts increased or decreased? (c) What is the dollar amount of change in the accounts? (d) If Retained is selected, choose the reason that it has changed. Account Which accounts are affected? Is the account increased or decreased? Increase Decrease What is the amount of transaction?...
Hello I need help with this please I need to follow instructions
in order to get all points. This is from principals of accounting
and please post in a picture. It needs to be detailed
Thank you
bellow are some examples of the answers I need, I need to post
an answer for both examples as well five sentences at least
EXAMPLE 1 NEED AN ANSWER
EXAMPLE 2 NEED AN ANSWER
THANK YOU
In this chapter we were provided a...
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