Acc/300 Learning Team Week 2

Accounting 300 Learning Team Week 2 4. betoken how from each one business transaction affects the basic banknoteing equation. (a) salaried property for janitorial services. step-down property Increase Liabilities (b) Purchased equipment for cash. lessening Cash Increase Assets (c) Issued commons stock to investors in exchange for cash Increase Cash Decrease in Stock Equity. (d) paying an account payable in bountiful. Decrease Cash Decrease Liability 10. What is the chemical formula balance for each of these accounts? (a) Accounts receivable. calculate (b) Cash. account (c) Dividends. account (d) Accounts Payable. citation (e) wait on Revenue.Credit (f ) Salaries and Wages Expense.debit (g) Common Stock.Credit 11. Indicate whether each account is an asset, a liability, or a stockholders equity account, and whether it would bind a normal calculate or opinion balance. (a) Accounts Receivable Assets Debit (b) A ccounts Payable Liability Credit (c) Equipment Asset Debit (d) Dividends Stockholders Equity Debit (e) Supplies Asset Debit 12. For the following transactions, bespeak the account debited and the account trusted.

(a) Supplies ar purchased on account. Debit: Supplies Credit: Accounts Payable (b) Cash is received on sign a note payable. Debit: Cash Credit: Note Payable (c) Employees are paid salaries in cash. Debit: Salaries Expense Credit: Cash 13. For each account listed here, indicate whether it generally will have debit entries barely, credit entries only, or both debit and credit entries. (a) Cash some(prenominal) debit and credit ent ries (b) Accounts Receivable Both debit an! d credit entries (c) Dividends Debit entries only (d) Accounts Payable Both debit and credit entriesIf you want to get at a full essay, order it on our website: OrderEssay.net

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