Acc 300 Week 4 Equations

Accounting 300 Learning Team Week 2 4. signalize how each business transaction affects the basic storeying equation. (a) paid cash for janitorial services. change magnitude specie Increase Liabilities (b) Purchased equipment for cash. decrement Cash Increase Assets (c) Issued general stock to investors in switch over for cash Increase Cash Decrease in gestate Equity. (d) Paid an study payable in bounteous. Decrease Cash Decrease Liability 10. What is the habitual balance for each of these accounts? (a) Accounts Receivable. calculate (b) Cash. debit (c) Dividends.debit (d) Accounts Payable.Credit (e) assist 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 have a normal debit or citation balance. (a) Accounts Receivable Assets Debit (b) Accounts Payable Liability Cred it (c) Equipment Asset Debit (d) Dividends shareowners Equity Debit (e) Supplies Asset Debit 12. For the pastime transactions, indicate the account debited and the account trusted.

(a) Supplies argon purchased on account. Debit: Supplies Credit: Accounts Payable (b) Cash is received on aim a note payable. Debit: Cash Credit: tincture Payable (c) Employees are paid salaries in cash. Debit: Salaries Expense Credit: Cash 13. For each account listed here, indicate whether it slackly will have debit entries that, credit entries only, or some(prenominal) debit and credit entries. (a) Cash two debit and credit entries (b) Accounts Receivable Both debit and credit entries (c) Dividend! s Debit entries only (d) Accounts Payable Both debit and credit entries

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