Help me answer 4-6 4. A purchase of equipment for Php 20,000 with a downpayment of Php 5,000 and the balance on account willrequire:A. Debit to equipment for Php 5,000B. Debit to accounts payable for Php 15,000C. Debit to cash for Php 5,000D. None of the above5. A collection on account is recorded by a:A. Debit to accounts receivableB. Debit to cashC. Credit to accounts payableD. Both B and C are correct6. You received the electricity bill to be paid the followingmonth. This will involve:A. Debit to utilities expenseB. Credit to cashC. No entryD. Both A & B are correct

Answer 4 Entry Wil be - Equipments a/c Dr php 20000 To Cash (Down payment). php 5000…

Answered: Help me answer 4-6

Business

Accounting

Help me answer 4-6

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter3: Journalizing Transactions

Section: Chapter Questions

Problem 3AP

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Effects of transactions on Accounting equation On Time Delivery Service had the following selected transactions during November: 1. Received cash from issuance of common stock, $75,000. 2. Paid rent for November, $5000. 3. Paid advertising expense, $3,000. 4. Received cash for providing delivery services, $34,500. 5. Borrowed $10,000 from Second National Bank to finance its operations. 6. Purchased a delivery van for cash, $25,000. 7. Paid interest on note from Second National Bank, $75. 8. Paid salaries and wages for November, $10,000. 9. Paid dividends, $2,000. Indicate the effect of each transaction on the accounting equation by listing the numbers identifying the transactions, (1) through (9), in a vertical column, and inserting at the right of each number the appropriate letter from he following list: a. Increase in an asset, decrease in another asset. h. Increase in an asset, increase in a liability. c. Increase in an asset, increase in stockholders’ equity. d. Decrease in an asset, decrease in a liability. e. Decrease in an asset, decrease in stockholders equity.
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Make the T-Accounts of the following transaction: JOURNAL ENTRIES Date/# Account Title Debit Credit a. Cash 250,000.00 Supplies 34,000.00 Jai, Capital 284,000.00 To record the investment of Jai b. Office Furniture 4,600.00 Cash 4,600.00 To record purchase of furniture c. Office Furniture 12,000.00 Cash 12,000.00 To record purchsae of furniture d. Utilities Expense 4,500.00 Accounts Payable 4,500.00 To record water expense e. Cash 23,000.00 Service Revenue 23,000.00 To record offering of service f. Accounts Receivable 34,000.00 Service Revenue 34,000.00 To record offering of service g. Accounts Payable 4,500.00 Cash 4,500.00 To record payment of payable h. Jai, Withdrawal 10,000.00 Cash 10,000.00…
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