Indicate basic type of account, specific account debited and credited, whether it is increased or decreased and normal balance of the specific account for each transaction.

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Answer 1

Question

Chapter 3, Problem 7E

(a)

To determine

Indicate basic type of account, specific account debited and credited, whether it is increased or decreased and normal balance of the specific account for each transaction.

(b)

To determine

Journalize the issuance of common stock, equipment (car) purchased in cash, Supplies purchased on account, Service performed on account to customers, paid cash for advertisement, cash received from customer, cash paid to creditors, dividend paid to stockholders.

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Answer 2

Question

Chapter 3, Problem 7E

(a)

To determine

Indicate basic type of account, specific account debited and credited, whether it is increased or decreased and normal balance of the specific account for each transaction.

(b)

To determine

Journalize the issuance of common stock, equipment (car) purchased in cash, Supplies purchased on account, Service performed on account to customers, paid cash for advertisement, cash received from customer, cash paid to creditors, dividend paid to stockholders.

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Answer 3

Question

Chapter 3, Problem 7E

(a)

To determine

Indicate basic type of account, specific account debited and credited, whether it is increased or decreased and normal balance of the specific account for each transaction.

(b)

To determine

Journalize the issuance of common stock, equipment (car) purchased in cash, Supplies purchased on account, Service performed on account to customers, paid cash for advertisement, cash received from customer, cash paid to creditors, dividend paid to stockholders.

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Answer 4

Question

Chapter 3, Problem 7E

(a)

To determine

Indicate basic type of account, specific account debited and credited, whether it is increased or decreased and normal balance of the specific account for each transaction.

(b)

To determine

Journalize the issuance of common stock, equipment (car) purchased in cash, Supplies purchased on account, Service performed on account to customers, paid cash for advertisement, cash received from customer, cash paid to creditors, dividend paid to stockholders.

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Answer 5

Chapter 3, Problem 7E

(a)

To determine

Indicate basic type of account, specific account debited and credited, whether it is increased or decreased and normal balance of the specific account for each transaction.

(b)

To determine

Journalize the issuance of common stock, equipment (car) purchased in cash, Supplies purchased on account, Service performed on account to customers, paid cash for advertisement, cash received from customer, cash paid to creditors, dividend paid to stockholders.

Answer 6

Chapter 3, Problem 7E

(a)

To determine

Indicate basic type of account, specific account debited and credited, whether it is increased or decreased and normal balance of the specific account for each transaction.

Answer 7

Chapter 3, Problem 7E

(a)

To determine

Indicate basic type of account, specific account debited and credited, whether it is increased or decreased and normal balance of the specific account for each transaction.

Answer 8

(b)

To determine

Journalize the issuance of common stock, equipment (car) purchased in cash, Supplies purchased on account, Service performed on account to customers, paid cash for advertisement, cash received from customer, cash paid to creditors, dividend paid to stockholders.

Answer 9

(b)

To determine

Journalize the issuance of common stock, equipment (car) purchased in cash, Supplies purchased on account, Service performed on account to customers, paid cash for advertisement, cash received from customer, cash paid to creditors, dividend paid to stockholders.

Answer 10

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Answer 11

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Answer 12

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Answer 13

Ch. 3 - Prob. 1Q Ch. 3 - Prob. 2Q Ch. 3 - Prob. 3Q Ch. 3 - Prob. 4Q Ch. 3 - Prob. 5Q Ch. 3 - Prob. 6Q Ch. 3 - Prob. 7Q Ch. 3 - Prob. 8Q Ch. 3 - Prob. 9Q Ch. 3 - Prob. 10Q

Indicate basic type of account, specific account debited and credited, whether it is increased or decreased and normal balance of the specific account for each transaction.

Indicate basic type of account, specific account debited and credited, whether it is increased or decreased and normal balance of the specific account for each transaction.

Journalize the issuance of common stock, equipment (car) purchased in cash, Supplies purchased on account, Service performed on account to customers, paid cash for advertisement, cash received from customer, cash paid to creditors, dividend paid to stockholders.

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Chapter 3 Solutions