The payment of the owner's personal expenses from thebusiness's checkbook should be recorded with a debit to:A. an expenseB. accounts payableC. withdrawalsD. capital

The correct answer is:C. withdrawals. ExplanationWhen the owner uses business funds to pay for…

Answered: The payment of the owner's personal…

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter6: Investing And Financing Activities

Section: Chapter Questions

Problem 1.13C

See similar textbooks

Similar questions

What is a schedule of accounts receivable?
Using the information contained in the accounts receivable ledger, the accountant can prepare _________. a. The general ledger balance b. The balance sheet c. The income statement d. A schedule of accounts receivable e. None of the above
How will the following items affect the pass book balance? Direct payment by customer into the back account. Interest on investment collected by the bank.
The adjusting entry to record an NSF check includes a credit to accounts payable a debit to vash a debit to accounts receivable a debit to miscellaneous expense
In which journal is the receipt of a promissory note from a customer on account recorded ? a. revenue journal b. cash receipts journal c. general journal d. purchases journal
An NSF check returned by the bank should be entered in the depositor's accounting records by a debit to:A. Accounts Receivable.B. An expense account.C. Cash.D. Cash Over and Short.
Employee purchases of supplies with a company-issued credit card is typically recorded with a credit to a. Accounts Payable. b. Supplies. c. Cash. d. Supplies Expense.
Deposits other than customer payments are entered using: a. Receive Payments b. Pay Bills c. Bank Deposit d. All of the above
A written order for a bank or other financialinstitution to pay a stated dollar amountto a specified business or person is called aa. check.b. deposit slip.c. notes receivable.d. receipt.e. debit memorandum
What is the basic information to recognize an account receivable?
Which of the following would be included in a journal to record an NSF check? a. A debit to Accounts payable and a credit to Cash b. A debit to Cash and a credit to Accounts receivable c. A debit to Accounts receivable and a credit to Cash d. A debit to Miscellaneous expense and a credit to Cash
what is the entry for collection of receivable * O debit cash, credit accounts payable O debit cash, credit accounts receivable debit accounts receivable, credit cash O debit accounts payable, credit cash Submit

SEE MORE QUESTIONS

Recommended textbooks for you

Quickbooks Online Accounting

Accounting

ISBN:

9780357391693

Author:

Owen

Publisher:

Cengage

Principles of Accounting Volume 1

Accounting

ISBN:

9781947172685

Author:

OpenStax

Publisher:

OpenStax College

Century 21 Accounting Multicolumn Journal

Accounting

ISBN:

9781337679503

Author:

Gilbertson

Publisher:

Cengage

Quickbooks Online Accounting

Accounting

ISBN:

9780357391693

Author:

Owen

Publisher:

Cengage

Principles of Accounting Volume 1

Accounting

ISBN:

9781947172685

Author:

OpenStax

Publisher:

OpenStax College

Century 21 Accounting Multicolumn Journal

Accounting

ISBN:

9781337679503

Author:

Gilbertson

Publisher:

Cengage

Century 21 Accounting General Journal

Accounting

ISBN:

9781337680059

Author:

Gilbertson

Publisher:

Cengage

College Accounting, Chapters 1-27

Accounting

ISBN:

9781337794756

Author:

HEINTZ, James A.

Publisher:

Cengage Learning,

College Accounting (Book Only): A Career Approach

Accounting

ISBN:

9781337280570

Author:

Scott, Cathy J.

Publisher:

South-Western College Pub

SEE MORE TEXTBOOKS

The payment of the owner's personal expenses from the business's checkbook should be recorded with a debit to: A. an expense B. accounts payable C. withdrawals D. capital