For each of the transactions below, indicate the account to be debited or credited by placing the letter representing the account in the appropriate column. ACCOUNTS а. Ассоunts Payable Ассоunts rеceivable j. supplies Cash 8. Саpttal e. Rent Expense h. Notes Payable Drawing f. Salaries Expense i. Equipment TRANSACTIONS DEBIT CEDIT Investment of the Owner Received cash for services rendered Purchased equipment Bought supplies on credit. Paid rent Paid on account. Withdrew cash from the business. Paid salaries

For each of the transactions below, indicate the account to be debited or credited by placing the letter representing the account in the appropriate column. ACCOUNTS а. Ассоunts Payable Ассоunts rеceivable j. supplies Cash 8. Саpttal e. Rent Expense h. Notes Payable Drawing f. Salaries Expense i. Equipment TRANSACTIONS DEBIT CEDIT Investment of the Owner Received cash for services rendered Purchased equipment Bought supplies on credit. Paid rent Paid on account. Withdrew cash from the business. Paid salaries

Name: I.For each of the transactions below, indicate the account to be debi
Uploaded: 2024-03-05T11:47:04.000Z
Channel: Bartleby
Description: I.For each of the transactions below, indicate the account to be debited or credited by placing the letterrepresenting the account in the appropriate column.ACCOUNTSd. Accounts PayableAccounts receivablej. suppliesCash8. Саpitale. Rent Expenseh. Not

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter2: The Accounting Information System

Section: Chapter Questions

Problem 31BE: Brief Exercise 2-31 Debit and Credit Procedures Refer to the accounts listed below. Accounts...

See similar textbooks

Similar questions

Which of the following pairs of accounts are impacted the same with debits and credits? A. Cash and Unearned Service Revenue B. Electricity Expense and Office Supplies C. Accounts Receivable and Accounts Payable D. Buildings and Common Stock
Indicate whether each account that follows has a normal debit or credit balance. A. Unearned Revenue B. Office Machines C. Prepaid Rent D. Cash E. Legal Fees Earned F. Salaries Payable G. Dividends H. Accounts Receivable I. Advertising Expense J. Retained Earning
For the following accounts indicate whether the normal balance is a debit or a credit. A. Unearned Revenue B. Interest Expense C. Rent Expense D. Rent Revenue E. Accounts Payable F. Cash G. Supplies H. Accounts Payable I. Equipment J. Utilities Expense
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
State whether the balance in each of the following accounts increases with a debit or a credit. A. Office Supplies B. Retained Earnings C. Salaries Expense D. Accounts Receivable E. Service Revenue
Determine whether the balance in each of the following accounts increases with a debit or a credit. A. Cash B. Common Stock C. Equipment D. Accounts Payable E. Fees Earned F. Electricity Expense
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
Which of the following accounts is increased by a debit? A. Common Stock B. Accounts Payable C. Supplies D. Service Revenue
CASH, MODIFIED CASH, AND ACCRUAL BASES OF ACCOUNTING For each journal entry shown below, indicate the accounting method(s) for which the entry would be appropriate. If the journal entry is not appropriate for a particular accounting method, explain the proper accounting treatment for that method. 1. Office Equipment Cash Purchased equipment for cash 2. Office Equipment Accounts Payable Purchased equipment on account 3. Cash Revenue Cash receipts for week 4. Accounts Receivable Revenue Services performed on account 5. Prepaid Insurance Cash Purchased prepaid asset 6. Supplies Accounts Payable Purchased prepaid asset 7. Phone Expense Cash Paid phone bill 8. Wages Expense Cash Paid wages for month 9. Accounts Payable Cash Made payment on account Adjusting Entries: 10. Supplies Expense Supplies 11. Wages Expense Wages Payable 12. Depreciation ExpenseOffice Equipment Accumulated DepreciationOffice Equipment
When fees are earned and the customer promises to pay later, which account is debited? (a) Cash (b) Accounts Receivable (c) Accounts Payable (d) Capital
Brief Exercise 2-31 Debit and Credit Procedures Refer to the accounts listed below. Accounts Receivable Accounts Payable Cash Equipment Notes Payable Rent Expense Salaries Expense Service Revenue Required: For each of the accounts, indicate the normal balance of the account and the effect of a debit or a credit on the account.
Determine on which financial statement each account listed below is reported. Use the following abbreviations: Income Statement (IS), Statement of Owners Equity (OE), and Balance Sheet (BS). a. S. Beagle, Capital b. Cash c. Miscellaneous Expense d. Accumulated Depreciation, Equipment e. Wages Payable f. S. Beagle, Drawing g. Equipment h. Supplies i. Depreciation Expense j. Supplies Expense k. Service Fees l. Accounts Receivable