The journal entry to record the withdrawal of cash by the owner, to pay a personal utility bill would include: a debit to Owner's Drawing and a credit to Cash. a debit to Owner's Capital, and a credit to Cash. a debit to Owner's Capital and a credit to Utilities Expense. a debit to Utilities Expense and a credit to Cash.

The journal entry to record the withdrawal of cash by the owner, to pay a personal utility bill would include: a debit to Owner's Drawing and a credit to Cash. a debit to Owner's Capital, and a credit to Cash. a debit to Owner's Capital and a credit to Utilities Expense. a debit to Utilities Expense and a credit to Cash.

Name: The journal entry to record the withdrawal of cash by the owner, to p
Uploaded: 2024-03-04T10:43:15.000Z
Channel: Bartleby
Description: The journal entry to record the withdrawal of cash by the owner, to pay a personalutility bill would include:a debit to Owner's Drawing and a credit to Cash.a debit to Owner's Capital, and a credit to Cash.a debit to Owner's Capital and a credit to

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter5: Completing The Accounting Cycle

Section: Chapter Questions

Problem 3MC: If a journal entry includes a debit or credit to the Cash account, it is most likely which of the...

See similar textbooks

Similar questions

What is the effect on the fundamental accounting equation if supplies are purchased on account? How will the fundamental accounting equation change if supplies are purchased with cash? Explain how this purchase will or will not change the owners equity.
Which of the following accounts would increase owners equity? a. Cash b. Accounts Payable c. Accounts Receivable d. Income from Tutoring
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
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
Name a source document that provides information about each of the following types of business transactions: a. Cash payment b. Cash receipt c. Sale of goods or services d. Purchase of goods or services
To purchase an asset such as office equipment on account, you would credit which account? (a) Cash (c) Accounts Payable (b) Accounts Receivable (d) Capital
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 these transactions requires a debit entry to Cash? A. paid balance due to suppliers B. sold merchandise on account C. collected balance due from customers D. purchased supplies for cash
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
If a journal entry includes a debit or credit to the Cash account, it is most likely which of the following? A. a closing entry B. an adjusting entry C. an ordinary transaction entry D. outside of the accounting cycle
Identify whether each of the following transactions, which are related to revenue recognition, are accrual, deferral, or neither. A. sold goods to customers on credit B. collected cash from customer accounts C. sold goods to customers for cash D. collected cash in advance for goods to be delivered later
The journal entry to record the withdrawal of cash by Sue Snow, the owner, to pay apersonal utility bill would include: