Analyzing and journalizing transactions As the manager of Margarita Mexican Restaurant, you must deal with a variety of business transactions. Provide an explanation for the following transactions: Debit Equipment and credit Cash. Debit Dividends and credit Cash. Debit Wages Payable and credit Cash. Debit Equipment and credit Common Stock. Debit Cash and credit Unearned Revenue. Debit Advertising Expense and credit Cash. Debit Cash and credit Service Revenue.
Analyzing and journalizing transactions As the manager of Margarita Mexican Restaurant, you must deal with a variety of business transactions. Provide an explanation for the following transactions: Debit Equipment and credit Cash. Debit Dividends and credit Cash. Debit Wages Payable and credit Cash. Debit Equipment and credit Common Stock. Debit Cash and credit Unearned Revenue. Debit Advertising Expense and credit Cash. Debit Cash and credit Service Revenue.
Century 21 Accounting General Journal
11th Edition
ISBN:9781337680059
Author:Gilbertson
Publisher:Gilbertson
Chapter2: Analyzing Transactions Into Debit And Credit Parts
Section2.3: Analyzing How Transactions Affect Owner’s Equity Accounts
Problem 1WT
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Analyzing and journalizing transactions
As the manager of Margarita Mexican Restaurant, you must deal with a variety of business transactions. Provide an explanation for the following transactions:
- Debit Equipment and credit Cash.
- Debit Dividends and credit Cash.
- Debit Wages Payable and credit Cash.
- Debit Equipment and credit Common Stock.
- Debit Cash and credit Unearned Revenue.
- Debit Advertising Expense and credit Cash.
- Debit Cash and credit Service Revenue.
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