Clear my choiceA company purchase supplies and pays OMR 1,300 in cash, the journal entry will include.O a. Debit Supplies OMR 1,300 and credit Accounts Payable OMR 1,300.ofO b. Debit Supplies OMR 1,300 and credit Cash OMR 1,300O c.Debit Accounts Payable OMR 1,300 and credit Supplies OMR 1,300.tionO d. Debit Cash OMR 1,300 and credit Supplies OMR 1,300.True Value is a company providing cleaning services to customers amounting to OMR 4,500 on credit, tjournal entry shall be.Debit Cash OMR 4,500 and credit Service Revenues OMR 4,500.O a.O b. Debit Service Revenues OMR 4,500 and credit Accounts Receivable OMR 4,500.onO c. Debit Service Revenues OMR 4,500 and credit Cash OMR 4,500.Od. Debit Accounts Receivable OMR 4,500 and credit Service Revenues OMR 4,500.Which nf +he following accountc will aot nffoctod whancach ic rocavod from calo mado on 2ccount inhere to search

Journal entries is the first step of recording the transaction. We record journal entries by using…

A company purchase supplies and pays OMR 1,300 in cash, the journal entry will include. O a. Debit Supplies OMR 1,300 and credit Accounts Payable OMR 1,300. O b. Debit Supplies OMR 1,300 and credit Cash OMR 1,300 O C. Debit Accounts Payable OMR 1,300 and credit Supplies OMR 1,300. O d. Debit Cash OMR 1,300 and credit Supplies OMR 1,300. True Value is a company providing cleaning services to customers amounting to OMR 4,500 on credit, journal entry shall be. O a. Debit Cash OMR 4,500 and credit Service Revenues OMR 4,500. O b. Debit Service Revenues OMR 4,500 and credit Accounts Receivable OMR 4,500. c. Debit Service Revenues OMR 4,500 and credit Cash OMR 4,500. O d. Debit Accounts Receivable OMR 4,500 and credit Service Revenues OMR 4,500.

A company purchase supplies and pays OMR 1,300 in cash, the journal entry will include. O a. Debit Supplies OMR 1,300 and credit Accounts Payable OMR 1,300. O b. Debit Supplies OMR 1,300 and credit Cash OMR 1,300 O C. Debit Accounts Payable OMR 1,300 and credit Supplies OMR 1,300. O d. Debit Cash OMR 1,300 and credit Supplies OMR 1,300. True Value is a company providing cleaning services to customers amounting to OMR 4,500 on credit, journal entry shall be. O a. Debit Cash OMR 4,500 and credit Service Revenues OMR 4,500. O b. Debit Service Revenues OMR 4,500 and credit Accounts Receivable OMR 4,500. c. Debit Service Revenues OMR 4,500 and credit Cash OMR 4,500. O d. Debit Accounts Receivable OMR 4,500 and credit Service Revenues OMR 4,500.

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter2: Analyzing Transactions Into Debit And Credit Parts

Section: Chapter Questions

Problem 1MP

See similar textbooks

Similar questions

Sold goods for $650 cash. Which journal would the company use to record this transaction? A. sales journal B. purchases journal C. cash receipts journal D. cash disbursements journal E. general journal
Prepare journal entries to record the following transactions. Create a T-account for Cash, post any entries that affect the account, and calculate the ending balance for the account. Assume a Cash beginning balance of $37,400. A. May 12, collected balance due from customers on account, $16,000 B. June 10, purchased supplies for cash, $4,444
Received a check for $72 from a customer, Mr. White. Mr. White owed you $124. Which journal would the company use to record this transaction? A. sales journal B. purchases journal C. cash receipts journal D. cash disbursements journal E. general journal
ANALYSIS OF T ACCOUNTS Richard Gibbs began a business called Richards Shoe Repair. 1. Create T accounts for Cash; Supplies; Richard Gibbs, Capital; and Utilities Expense. Identify the following transactions by letter and place them on the proper side of the T accounts: (a) Invested cash in the business, 6,500. (b) Purchased supplies for cash, 700. (c) Paid utility bill, 2,700. 2. Foot the T account for cash and enter the ending balance.
Michelle French owns and operates Books and More, a retail book store. Selected account balances on June 1 are as follows: The following purchases and cash payments transactions took place during the month of June: June 1 Purchased books on account from Irving Publishing Company, 2,100. Invoice No. 101, terms 2/10, n/30, FOB destination. 2 Issued Cheek No. 300 to Northeastern Publishing Co. for goods purchased on May 23, terms 2/10, n/30, 1,960 (the 2,000 invoice amount less the 2% discount). 3 Purchased books on account from Broadway Publishing, Inc., 2,880. Invoice No. 711, less a 20% trade discount, and invoice terms of 3/10, n/30, FOB shipping point. 3 Issued Cheek No. 301 to Mayday Shipping for delivery from Broadway Publishing, Inc., 250. 4 Issued Cheek No. 302 for June rent, 625. 8 Purchased books on account from Northeastern Publishing Co., 5,825. Invoice No. 268, terms 2/com, n/60, FOB destination. 10 Received a credit memo from Irving Publishing Company, 550. Books had been returned because the covers were on upside down. 13 Issued Check No. 304 to Broadway Publishing, Inc., for the purchase made on June 3. (Check No. 303 was voided because an error was made in preparing it.) 28 Made the following purchases: 30 Issued Cheek No. 305 to Taylor County Utility Co. for June utilities, 325. 30 French withdrew cash for personal use, 4,500. Issued Check No. 306. 30 Issued Cheek No. 307 to Irving Publishing Company for purchase made on June 1 less returns made on June 10. 30 Issued Check No. 308 to Northeastern Publishing Co. for purchase made on June 8. 30 Issued Check No. 309 for books purchased at an auction, 1,328. REQUIRED 1. Enter the transactions in a general journal (start with page 16). 2. Post from the journal to the general ledger accounts and the accounts payable ledger. Use general ledger account numbers as indicated in the chapter. 3. Prepare a schedule of accounts payable. 4. If merchandise inventory was 35,523 on January 1 and 42,100 as of June 30, prepare the cost of goods sold section of the income statement for the six months ended June 30,20--.
Your company paid rent of $1,000 for the month with check number 1245. Which journal would the company use to record this? A. sales journal B. purchases journal C. cash receipts journal D. cash disbursements journal E. general journal
ANALYSIS OF T ACCOUNTS Roberto Alvarez began a business called Robertos Fix-It Shop. 1. Create T accounts for Cash; Supplies; Roberto Alvarez, Capital; and Utilities Expense. Identify the following transactions by letter and place them on the proper side of the T accounts: (a) Invested cash in the business, 6,000. (b) Purchased supplies for cash, 51,200. (c) Paid utility bill, 900. 2. Foot the T account for cash and enter the ending balance.
For each of the following transactions, state which special journal (Sales Journal, Cash Receipts Journal, Cash Disbursements Journal, Purchases Journal, or General Journal) and which subsidiary ledger (Accounts Receivable, Accounts Payable, neither) would be used in recording the transaction. A. Sold inventory for cash B. Issued common stock for cash C. Received and paid utility bill D. Bought office equipment on account E. Accrued interest on a loan at the end of the accounting period F. Paid a loan payment G. Bought inventory on account H. Paid employees I. Sold inventory on account J. Paid monthly insurance bill
From the following list, identify which items are considered original sources: A. accounts receivable B. receipt from post office for post office box C. purchase order D. general ledger E. adjusted trial balance F. statement of retained earnings G. electric bill H. packing slip I. company expense account J. statement of cash flows
For each of the transactions, state which special journal (sales journal, cash receipts journal, cash disbursements journal, purchases journal, or general journal) and which subsidiary ledger (Accounts Receivable, Accounts Payable, or neither) would be used in recording the transaction. A. Paid utility bill B. Sold inventory on account C. Received but did not pay phone bill D. Bought inventory on account E. Borrowed money from a bank F. Sold old office furniture for cash G. Recorded depreciation H. Accrued payroll at the end of the accounting period I. Sold inventory for cash J. Paid interest on bank loan
You returned damaged goods you had previously purchased from C.C. Rogers Inc. and received a credit memo for $250. Which journal would your company use to record this transaction? A. sales journal B. purchases journal C. cash receipts journal D. cash disbursements journal E. general journal