The amount brought in by owner of the businessshould be credited to?a. Owner's equityb. Drawingsc. Cashd. All above

The correct answer is:a. Owner's equity Explanation:When the owner brings in money or other assets…

Answered: The amount brought in by owner of the…

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter6: Cash And Receivables

Section: Chapter Questions

Problem 13GI

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Similar questions

"Identify each of the following accounts of Kaiser Services Co. as asset, liability, stockholders’ equity, revenue, or expense, and state in each case whether the normal balance is a debit or a credit:A.Accounts PayableB.Accounts ReceivableC.CashD.Common StockE.DividendsF.Fees EarnedG.Office EquipmentH.Rent ExpenseI.SuppliesJ.Wages Expense
are items owed to a creditor. company. resources. are items owned by a represents owners' claims to company a. Expenses; Revenues; Net income b. Expenses; Revenues; Stockholders' equity c. Liabilities; Assets; Stockholders' equity d. Liabilities; Assets; Net income
What is the owner’s right to the assets (claims to the assets) of the business called? Group of answer choices cash revenue accounts receivable owner’s equity or capital
The journal entry to record the amount receivable when a call is made by the company is: Select one: a. DR Allotment CR Share capital b. DR Cash Trust CR Call c. DR Call CR Share capital d. DR Share capital CR Call
For each ofthe following accounts, identify whether that item is an asset, liability, or equity account.a. Bonds payableb. Equipmentc. Accounts payabled. Salaries payablee. Common stockf. Retained earningsg. Cashh. Accounts receivablei. Sales revenuej. Inventory
The accounting equation is expressed as ________.A. Assets + Liabilities = Owner’s EquityB. Assets – Noncurrent Assets = LiabilitiesC. Assets = Liabilities + Investments by OwnersD. Assets = Liabilities + Owner’s Equity
Accounts Receivable will appear on which of the following financial statements?a. Income statementb. Statement of retained earningsc. Balance sheetd. Statement of cash flows
When does a company record the transfer of accounts receivable as a sale? As a secured borrowing (a liability)?
On which financial statement would the Dividends account appear? A. Balance Sheet B. Income Statement C. Retained Earnings Statement D. Statement of Cash Flows
On which financial statement(s) would R. Flores, Drawing appear? a. Income statement b. Balance sheet c. Statement of owners equity d. Income statement and statement of owners equity
Consider the following accounts, and determine if the account is an asset (A), a liability (L), or equity (E). A. Accounts Payable B. Cash C. Dividends D. Notes Payable
CClassify each of the following items as an Asset (A), Liability (L), or part of Owner’s Equity (OE). a. Computer Tabletb. Accounts Payablec. Accounts Receivabled. Cashe. A. Jones, Capital

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The amount brought in by owner of the business should be credited to? a. Owner's equity b. Drawings c. Cash d. All above