Posting a $2,500 purchase of office supplies on account appears as follows:O A.OB.O C.O D.Office Supplies2,500Office Supplies2,500Cash2,500Office Supplies2,500Accounts Payablepoint(s) possibleOffice Supplies2,5002,500Accounts Receivable2,500Accounts Payable2,500

Name: Posting a $2,500 purchase of office supplies on account appears as fo
Uploaded: 2024-03-04T10:43:15.000Z
Channel: Bartleby
Description: Posting a $2,500 purchase of office supplies on account appears as follows:O A.OB.O C.O D.Office Supplies2,500Office Supplies2,500Cash2,500Office Supplies2,500Accounts Payablepoint(s) possibleOffice Supplies2,5002,500Accounts Receivable2,500Accounts

Journal entries are used to record transactions in chronological order under double entry accounting…

Business

Accounting

K Posting a $2,500 purchase of office supplies on account appears as follows: O A. O B. O C. O D. Office Supplies 2,500 Office Supplies 2,500 Cash Office Supplies 2,500 2,500 Accounts Payable 2,500 Accounts Receivable 2,500 Office Supplies 2,500 Accounts Payable 2,500

K Posting a $2,500 purchase of office supplies on account appears as follows: O A. O B. O C. O D. Office Supplies 2,500 Office Supplies 2,500 Cash Office Supplies 2,500 2,500 Accounts Payable 2,500 Accounts Receivable 2,500 Office Supplies 2,500 Accounts Payable 2,500

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter7: Accounting Information Systems

Section: Chapter Questions

Problem 11MC: Your company paid rent of $1,000 for the month with check number 1245. Which journal would the...

See similar textbooks

Similar questions

Journalizing and posting On February 11, 20Y9, Quick Fix Company purchased 2,250 of supplies on account. In Quick Fixs chart of accounts, the supplies account is No. 15, and the accounts payable account is No. 21. a. Journalize the February 11, 20Y9, transaction on page 73 of Quick Fix Companys two-column journal. Include an explanation of the entry. b. Prepare a four-column account for Supplies. Enter a debit balance of 400 as of February 1, 20Y9. Place a check mark () in the Posting Reference column. c. Prepare a four-column account for Accounts Payable. Enter a credit balance of 18,300 as of February 1, 20Y9. Place a check mark () in the Posting Reference column. d. Post the February 11, 20Y9, transaction to the accounts. e. Do the rules of debit and credit apply to all companies?
Prepare journal entries to record the following transactions. Create a T-account for Unearned Revenue, post any entries that affect the account, tally ending balance for the account (assume Unearned Revenue beginning balance of $12,500). A. May 1, collected an advance payment from client, $15,000 B. December 31, remaining unearned advances, $7,500
Prepare journal entries to record the following transactions. Create a T-account for Accounts Payable, post any entries that affect the account, and tally ending balance for the account. Assume an Accounts Payable beginning balance of $5,000. A. February 2, purchased an asset, merchandise inventory, on account, $30,000 B. March 10, paid creditor for part of February purchase, $12,000
From the following list, identify which items are considered original sources: A. prepaid insurance B. bank statement C. sales ticket D. general journal E. trial balance F. balance sheet G. telephone bill H. invoice from supplier I. company sales account J. income statement
Sold goods for $650, credit terms net 30 days. 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. A. March 1, purchased land for cash, $20,000 B. March 11, purchased merchandise inventory, on account, $18,500 C. March 15, Sold merchandise to customer for cash, $555
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 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.
Prepare journal entries to record the following transactions. Create a T-account for Supplies, post any entries that affect the account, and tally ending balance for the account (assume Supplies beginning balance of $6,550). A. January 26, purchased additional supplies for cash, $9,500 B. December 31, actual count of supplies, $8,500
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.