Acc 300 Week 4 Equations

Accounting 300 Learning Team Week 2
4. signalize how each business transaction affects the basic storeying equation.
(a) gainful cash for janitorial services.
change magnitude Cash
Increase Liabilities
(b) Purchased equipment for cash.
Decrease Cash
Increase Assets
(c) Issued general stock to investors in exchange for cash
Increase Cash
Decrease in Stock Equity.
(d) Paid an account payable in bounteous.
Decrease Cash
Decrease Liability

10. What is the habitual balance for each of these accounts?
(a) Accounts Receivable.Debit
(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
Credit
(c) Equipment
Asset
Debit
(d) Dividends
Stockholders Equity
Debit
(e) Supplies
Asset
Debit

12. For the following transactions, indicate the account debited and the account credited.




(a) Supplies argon purchased on account.
Debit: Supplies
Credit: Accounts Payable
(b) Cash is received on subscribe 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 only, credit entries only, or both debit and credit entries.
(a) Cash
two debit and credit entries
(b) Accounts Receivable
Both debit and credit entries
(c) Dividends
Debit entries only
(d) Accounts Payable
Both debit and credit entries



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