Directions: Complete the table below. The first item has been done for you. Decreased by Classification Normal Increased by List of Accounts (Debit Credit) Balance (Debit/ (Asset, Liabilities, Owner's Equity (Debit/ Credit) Credit) Revenue, Expense) Debit Credit Cash Asset Debit 21 Freight In 22 Salaries Expense 23 Supplies Expense 24 Utilities Expense 25 Communication Expense 26 Travel Expense 27 Rent Expense 28 Insurance Expense 29 Advertising Expense 30 Delivery Expense

Directions: Complete the table below. The first item has been done for you. Decreased by Classification Normal Increased by List of Accounts (Debit Credit) Balance (Debit/ (Asset, Liabilities, Owner's Equity (Debit/ Credit) Credit) Revenue, Expense) Debit Credit Cash Asset Debit 21 Freight In 22 Salaries Expense 23 Supplies Expense 24 Utilities Expense 25 Communication Expense 26 Travel Expense 27 Rent Expense 28 Insurance Expense 29 Advertising Expense 30 Delivery Expense

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

2. Add two new expense accounts to the chart of accounts you prepared. Assign each account numbers based on where they would be placed in the chart of accounts. Miscellaneous Expense Utilities Expense Answer: Type answer here. 3. Prepare a T account for each transaction. Label the account title for each account affected. Use the chart for accounts you created in question 1. Write the debit and credit amounts for each T account to show how the accounts are affected. The first one is done. c. Received cash from owner, Roger Fisher, as an investment, $10,000.00 d. Paid cash for insurance, $ 2, 400.00 e. Bought supplies on a account to Salmon Slayers, $600.00 Paid cash for fuel, $500.00 Paid cash to owner, Roger Fisher, for personal use, $1,250.00
Please do not give solution in image format thanku
ABC Company has the following T Account at the end of the year: Post to T-Acct (aka Ledger) Asset Cash Liability + C/ stock - Dividend + Acct Payable Commonstah Dividend Revenue 30,000 1,000 500 Common stah Dividend Service Revenue 30,000 480 Expense Rent expense 41000 500 15,000 4,000 5,000 15,000 480 Travel expense 1,000 Insurance expense 5,000
Which of the following entries properly closes a temporary account? Select one: a. Income Summary XX Cash b. C. Debit Credit Expense Accumulated Depreciation XX Income Summary Income Summary d. e. XX Retained Earnings XX Dividends Debit Credit Debit Credit XX Debit Credit Income Summary XX Revenue XX XX Debit Credit XX XX
answer in text form please (without image)
11. Which of the following accounts would be increased with a credit? a Supplies Expense b Supplies c Fees Earned d Withdrawals account