a. Debit Equipment and credit Cash. b. Debit Garcia, Withdrawals and credit Cash. c. Debit Wages Payable and credit Cash. d. Debit Equipment and credit Garcia, Capital. e. Debit Cash and credit Unearned Revenue. f. Debit Advertising Expense and credit Cash. g. Debit Cash and credit Service Revenue.
a. Debit Equipment and credit Cash. b. Debit Garcia, Withdrawals and credit Cash. c. Debit Wages Payable and credit Cash. d. Debit Equipment and credit Garcia, Capital. e. Debit Cash and credit Unearned Revenue. f. Debit Advertising Expense and credit Cash. g. Debit Cash and credit Service Revenue.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Topic Video
Question
100%
Provide an explanation for the following transactions:
Thanks!
![As the manager of Margarita Mexican Restaurant, you must deal with a variety of business transactions. Provide an explanation for the following transactions:
(Click the icon to view the transactions.)
a.
b.
c.
d.
e.
f.
g.
Paid for advertising with cash.
Paid wages owed to employees, previously recorded.
Performed services and were paid by the customer.
Purchased equipment with cash.
Received cash from customer for work to complete in the future.
The owner, Garcia, gave equipment to the business in exchange for capital.
The owner, Garcia, withdrew money from the business.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8081b1e5-a0c8-4cb5-91f1-53aa25324d41%2Faa398e69-4cfe-4f95-b8a9-fe143e610e7c%2Fs8ji1hk_processed.jpeg&w=3840&q=75)
Transcribed Image Text:As the manager of Margarita Mexican Restaurant, you must deal with a variety of business transactions. Provide an explanation for the following transactions:
(Click the icon to view the transactions.)
a.
b.
c.
d.
e.
f.
g.
Paid for advertising with cash.
Paid wages owed to employees, previously recorded.
Performed services and were paid by the customer.
Purchased equipment with cash.
Received cash from customer for work to complete in the future.
The owner, Garcia, gave equipment to the business in exchange for capital.
The owner, Garcia, withdrew money from the business.
![More Info
a. Debit Equipment and credit Cash.
b. Debit Garcia, Withdrawals and credit Cash.
c. Debit Wages Payable and credit Cash.
d. Debit Equipment and credit Garcia, Capital.
e. Debit Cash and credit Unearned Revenue.
f. Debit Advertising Expense and credit Cash.
g. Debit Cash and credit Service Revenue.
Print
Done](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8081b1e5-a0c8-4cb5-91f1-53aa25324d41%2Faa398e69-4cfe-4f95-b8a9-fe143e610e7c%2Fhvg6lf_processed.jpeg&w=3840&q=75)
Transcribed Image Text:More Info
a. Debit Equipment and credit Cash.
b. Debit Garcia, Withdrawals and credit Cash.
c. Debit Wages Payable and credit Cash.
d. Debit Equipment and credit Garcia, Capital.
e. Debit Cash and credit Unearned Revenue.
f. Debit Advertising Expense and credit Cash.
g. Debit Cash and credit Service Revenue.
Print
Done
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