SUBJECT: Financial Accounting and Reporting Instruction: Choose the Debit and Credit Accounts of the following transactions. TRANSACTION: Paid in advance equipment insurance premium 1. Debit * a. Cash In Bank b. Accounts Receivable c. Unused Laundy Supplies d. Prepaid Insurance e. Equipment f. Accounts Payable g. Unearned Income h. Amora, Drawing i. Amora, Capital j. Service Income k. Salaries Expense L.Taxes and Licenses m.Transportation 2. Credit * a. Cash In Bank b. Accounts Receivable c. Unused Laundy Supplies d. Prepaid Insurance e. Equipment f. Accounts Payable g. Unearned Income h. Amora, Drawing i. Amora, Capital j. Service Income k. Salaries Expense L.Taxes and Licenses m.Transportation TRANSACTION: Rendered service on account 3. Debit * a. Cash In Bank b. Accounts Receivable c. Unused Laundy Supplies d. Prepaid Insurance e. Equipment f. Accounts Payable g. Unearned Income h. Amora, Drawing i. Amora, Capital j. Service Income k. Salaries Expense L.Taxes and Licenses m.Transportation 4. Credit * a. Cash In Bank b. Accounts Receivable c. Unused Laundy Supplies d. Prepaid Insurance e. Equipment f. Accounts Payable g. Unearned Income h. Amora, Drawing i. Amora, Capital j. Service Income k. Salaries Expense L.Taxes and Licenses m.Transportation
SUBJECT:
Instruction: Choose the Debit and Credit Accounts of the following transactions.
TRANSACTION: Paid in advance equipment insurance premium
1. Debit *
a. Cash In Bank
b.
c. Unused Laundy Supplies
d. Prepaid Insurance
e. Equipment
f. Accounts Payable
g. Unearned Income
h. Amora, Drawing
i. Amora, Capital
j. Service Income
k. Salaries Expense
L.Taxes and Licenses
m.Transportation
2. Credit *
a. Cash In Bank
b. Accounts Receivable
c. Unused Laundy Supplies
d. Prepaid Insurance
e. Equipment
f. Accounts Payable
g. Unearned Income
h. Amora, Drawing
i. Amora, Capital
j. Service Income
k. Salaries Expense
L.Taxes and Licenses
m.Transportation
TRANSACTION: Rendered service on account
3. Debit *
a. Cash In Bank
b. Accounts Receivable
c. Unused Laundy Supplies
d. Prepaid Insurance
e. Equipment
f. Accounts Payable
g. Unearned Income
h. Amora, Drawing
i. Amora, Capital
j. Service Income
k. Salaries Expense
L.Taxes and Licenses
m.Transportation
4. Credit *
a. Cash In Bank
b. Accounts Receivable
c. Unused Laundy Supplies
d. Prepaid Insurance
e. Equipment
f. Accounts Payable
g. Unearned Income
h. Amora, Drawing
i. Amora, Capital
j. Service Income
k. Salaries Expense
L.Taxes and Licenses
m.Transportation
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