Homework Answers
Answer
A debit to equipment for $ 530, a credit to cash for $ 110, and a credit to accounts payable for $ 420.
Explanation-
When an equipment is purchased, then such equipment is asset and payments made for equipment in cash will reduce cash by $ 110 and increase liability by $ 420 in accounts payable.
The entry will be
Equipment debit $ 530
Cash credit $ 110
Accounts payable $ 420
Add Answer to:
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Question 9 (1 point) The entry to record the payment of a purchase invoice when a...
Question 9 (1 point) The entry to record the payment of a purchase invoice when a cash discount is taken includes a debit to Accounts Payable, a credit to Purchase Discounts and a credit to Cash Oa debit to Accounts Payable, a debit to Purchase Discounts and a credit to Cash a debit to Accounts Payable and a credit to Cash O a debit to Purchases, a credit to Purchase Discounts and a credit to Cash
The journal entry that records the collection of cash from a customer for payment on account...
The journal entry that records the collection of cash from a customer for payment on account for a sale that was recorded previously includes a debit to: Multiple Choice Accounts Receivable and credit to Cash. Cash and credit to Accounts Payable. Cash and credit to Accounts Receivable Accounts Payable and credit to Cash.
Which of the following statements is correct? O The entry to record the payment of an...
Which of the following statements is correct? O The entry to record the payment of an invoice within the cash discount period would include a debit to the Purchases Discounts account. O To record a cash purchase of merchandise, the accountant would debit Purchases and credit Cash O A transaction that is properly recorded in the cash payments journal will always include the recording of an amount in the Cash Debit column. O Purchase discounts is a contra revenue account.
Question 14 The journal entry to record a payment made in January for rent for the...
Question 14 The journal entry to record a payment made in January for rent for the months of February and March would include O a debit to Sue Snow. Drawing and a credit to Rent Expense. a debit to Sue Snow, Capital, and a credit to Cash. O a debit to Prepaid Rent and a credit to Cash. a debit to Rent Expense and a credit to Cash. Question 15 If a transaction is properly analyzed and recorded, one account...
A customer purchased an item on credit. Which journal entry should be made to record this purchase?
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The journal entry to record the collection of the amount due on an interest-bearing promissory note...
The journal entry to record the collection of the amount due
on an interest-bearing promissory note form a customer would debit
Cash, credit Notes Recievable, and
MC Qu. 9-33 The journal entry to record the... The journal entry to record the collection of the amount due on an interest beaning promissory note from a customer would debit Cash, credit Notes Receivable, and Choice O debito pense O crede Irenest Experne Credit Instincome o income < P 6 H d >...
At the end of the month, the adjusting journal entry to record the use of supplies...
At the end of the month, the adjusting journal entry to record the use of supplies would include a debit to: Multiple Choice Supplies and a credit to Service Revenue. Supplies Expense and a credit to Supplies. Supplies and a credit to Cash. Supplies and a credit to Supplies Expense.
having trouble completing with journal entry. Journal entry worksheet 1 2 3 4 Record the rectification...
having trouble completing with journal entry.
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On the date of payment for a cash dividend, what journal entry is required? O A....
On the date of payment for a cash dividend, what journal entry is required? O A. Debit Retained Earnings and credit Dividends Payable O B. Debit Dividends and credit Retained Earnings OC. Debit Dividends Payable and credit Cash OD. Debit Cash and credit Dividends Payable
Question 11 1 pts The journal entry to record a company's cash collection of accounts receivable...
Question 11 1 pts The journal entry to record a company's cash collection of accounts receivable would include a credit to the following account: O Cash ET O Sales Revenues O Accounts Receivable O Accounts Payable O None of the Above
Question 9 (1 point) The entry to record the payment of a purchase invoice when a cash discount is taken includes a debit to Accounts Payable, a credit to Purchase Discounts and a credit to Cash Oa debit to Accounts Payable, a debit to Purchase Discounts and a credit to Cash a debit to Accounts Payable and a credit to Cash O a debit to Purchases, a credit to Purchase Discounts and a credit to Cash
The journal entry that records the collection of cash from a customer for payment on account for a sale that was recorded previously includes a debit to: Multiple Choice Accounts Receivable and credit to Cash. Cash and credit to Accounts Payable. Cash and credit to Accounts Receivable Accounts Payable and credit to Cash.
Which of the following statements is correct? O The entry to record the payment of an invoice within the cash discount period would include a debit to the Purchases Discounts account. O To record a cash purchase of merchandise, the accountant would debit Purchases and credit Cash O A transaction that is properly recorded in the cash payments journal will always include the recording of an amount in the Cash Debit column. O Purchase discounts is a contra revenue account.
Question 14 The journal entry to record a payment made in January for rent for the months of February and March would include O a debit to Sue Snow. Drawing and a credit to Rent Expense. a debit to Sue Snow, Capital, and a credit to Cash. O a debit to Prepaid Rent and a credit to Cash. a debit to Rent Expense and a credit to Cash. Question 15 If a transaction is properly analyzed and recorded, one account...
The journal entry to record the collection of the amount due
on an interest-bearing promissory note form a customer would debit
Cash, credit Notes Recievable, and
MC Qu. 9-33 The journal entry to record the... The journal entry to record the collection of the amount due on an interest beaning promissory note from a customer would debit Cash, credit Notes Receivable, and Choice O debito pense O crede Irenest Experne Credit Instincome o income < P 6 H d >...
having trouble completing with journal entry.
Journal entry worksheet 1 2 3 4 Record the rectification entry for purchasing file cabinet and office supplies, check 1918. Note: Enter debits before credits. Date General Journal Debit Credit Apr 30, 20X1 Accounts payable 9.440 GENERAL JOURNAL PAGE 3 Post. Ref. Debit Credit Date Description 20X1 April1 Accounts Payable Fees Income Performed services on credit 12,800 12,800 660 2 Cash Telephone Expense Paid for March telephone service, Check 1917 660 nces 3 Office...
On the date of payment for a cash dividend, what journal entry is required? O A. Debit Retained Earnings and credit Dividends Payable O B. Debit Dividends and credit Retained Earnings OC. Debit Dividends Payable and credit Cash OD. Debit Cash and credit Dividends Payable
Question 11 1 pts The journal entry to record a company's cash collection of accounts receivable would include a credit to the following account: O Cash ET O Sales Revenues O Accounts Receivable O Accounts Payable O None of the Above
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