Financial Accounting - Access
4th Edition
ISBN: 9781259958533
Author: SPICELAND
Publisher: MCG
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Chapter 2, Problem 2.9E
Identify transactions (LO2–4)
Below are recorded transactions of Yellow Jacket Corporation for August.
| Debit | Credit | |
| 1. Equipment ............................................................................ | 8,800 | |
| Cash .......................................................................................... | 8,800 | |
| 2. |
3,200 | |
| Service Revenue ........................................................................ | 3,200 | |
| 3. Salaries Expense .................................................................... | 1,900 | |
| Cash .......................................................................................... | 1,900 | |
| 4. Cash ....................................................................................... | 1,500 | |
| Deferred Revenue ..................................................................... | 1,500 | |
| 5. Dividends ............................................................................... | 900 | |
| Cash ........................................................................................... | 900 |
Required:
Provide an explanation for each transaction.
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Students have asked these similar questions
1. Prepare a trial balance based on the balances of these ledger accounts.
Dr
Cash A/C
Cr
Date
Particulars
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$1,300
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$750
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$1,050
27-Sep
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Use the following T-account for Careful Corporation to answer questions 11 and 12:
Accounts Receivable
Beg. Bal. $ 187
18
150
6
64
15
19
End. Bal. $ ?
The ending balance of Accounts Receivable for Careful is:
Group of answer choices
A. $401 debit
B. $343 debit
C. $343 credit
D. $ 58 credit
K7.
The following information is provided for Sacks Company. Cash $ 13,200 Supplies 5,700 Prepaid rent 3,200 Salaries expense 5,700 Equipment 66,200 Service revenue 34,800 Miscellaneous expenses 21,200 Dividends 4,200 Accounts payable 6,200 Common stock 69,200 Retained earnings 9,200
What is the amount of total liabilities?
Multiple Choice
$69,700
$88,300
$80,900
$6,200
Chapter 2 Solutions
Financial Accounting - Access
Ch. 2 - Prob. 1RQCh. 2 - 2.List the steps we use to measure external...Ch. 2 - 3.Each external transaction will have a dual...Ch. 2 - 4.Describe the impact of each of these external...Ch. 2 - Prob. 5RQCh. 2 - Prob. 6RQCh. 2 - Prob. 7RQCh. 2 - Prob. 8RQCh. 2 - Prob. 9RQCh. 2 - 10.Suzanne knows that an increase to an expense...
Ch. 2 - 11.What is a journal? What is a journal entry?Ch. 2 - Prob. 12RQCh. 2 - Prob. 13RQCh. 2 - Prob. 14RQCh. 2 - 15.Describe the events that correspond to the...Ch. 2 - 16.What does a T-account represent? What is the...Ch. 2 - Prob. 17RQCh. 2 - Prob. 18RQCh. 2 - Prob. 19RQCh. 2 - 20.If total debits equal total credits in the...Ch. 2 - List steps in the measurement process (LO21) Below...Ch. 2 - Balance the accounting equation (LO22) Using the...Ch. 2 - Suppose a local company has the following balance...Ch. 2 - Analyze the Impact of transactions on the...Ch. 2 - Understand the effect of debits and credits on...Ch. 2 - Prob. 2.6BECh. 2 - Record transactions (LO24) The following...Ch. 2 - Prob. 2.8BECh. 2 - Analyze T-accounts (LO25) Consider the following...Ch. 2 - Prob. 2.10BECh. 2 - Prob. 2.11BECh. 2 - Correct a trial balance (LO26) Your study partner...Ch. 2 - Listed below are several terms and phrases...Ch. 2 - Prob. 2.2ECh. 2 - Analyze the Impact of transactions on the...Ch. 2 - Analyze the Impact of transactions on the...Ch. 2 - Understand the components of retained earnings...Ch. 2 - Indicate the debit or credit balance of accounts...Ch. 2 - Associate debits and credits with external...Ch. 2 - Prob. 2.8ECh. 2 - Identify transactions (LO24) Below are recorded...Ch. 2 - Prob. 2.10ECh. 2 - Record transactions (LO24) Bearcat Construction...Ch. 2 - Correct recorded transactions (LO24) Below are...Ch. 2 - Correct recorded transactions (LO24) Below are...Ch. 2 - Prob. 2.14ECh. 2 - Post transactions to T-accounts (LO25) Consider...Ch. 2 - Identify transaction (LO25) Below are T-accounts....Ch. 2 - Prob. 2.17ECh. 2 - Prepare o trial balance (LO26) Below is the...Ch. 2 - Prob. 2.19ECh. 2 - Prob. 2.20ECh. 2 - Below is a list of activities for Jayhawk...Ch. 2 - Prob. 2.2APCh. 2 - Prob. 2.3APCh. 2 - Prob. 2.4APCh. 2 - Refer to the transactions described in P24A. Keep...Ch. 2 - Prepare a trial balance (LO26) Below are the...Ch. 2 - Prob. 2.7APCh. 2 - Prob. 2.8APCh. 2 - Prob. 2.9APCh. 2 - Analyze the impact of transactions on the...Ch. 2 - Prob. 2.2BPCh. 2 - Prob. 2.3BPCh. 2 - Record transactions (LO24) Flip Side of P25B Eli...Ch. 2 - Prob. 2.5BPCh. 2 - Prob. 2.6BPCh. 2 - Prob. 2.7BPCh. 2 - Prob. 2.8BPCh. 2 - Prob. 2.9BPCh. 2 - Prob. 2.1APCPCh. 2 - Prob. 2.2APFACh. 2 - The Buckle, Inc. Financial Analysis Financial...Ch. 2 - Prob. 2.4APCACh. 2 - Prob. 2.5APECh. 2 - Prob. 2.6APIRCh. 2 - Prob. 2.7APWC
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