Question 142.5 pts
Using the perpetual
inventory system, the purchase of merchandise on account would
include...
Question 142.5 pts
Using the perpetual
inventory system, the purchase of merchandise on account would
include a:
debit to Accounts Payable and
a credit to Merchandise Inventory.
debit to Sales and a credit to
Accounts Receivable.
debit to Merchandise Inventory
and a credit to Accounts Payable.
debit to Merchandise Inventory
and a credit to Sales.
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Question 152.5 pts
The return of
merchandise to the supplier for credit using the perpetual
inventory system would include a:
debit to...
A merchandiser returned inventory worth $1,400 that was
purchased on account. Under the periodic inventory system,...
A merchandiser returned inventory worth $1,400 that was
purchased on account. Under the periodic inventory system, the
journal entry to record the return would include ________.
Group of answer choices
a debit to Purchase Returns and Allowances for $1,400 and a
credit to Accounts Payable for $1,400
a debit to Accounts Payable for $1,400 and a $1,400 credit to
Purchase Returns and Allowances
a debit to Purchases for $1,400 and a credit to Accounts
Payable for $1,400
a debit to...
1.
In the first month of operations, the total of the debit entries to
the cash...
1.
In the first month of operations, the total of the debit entries to
the cash account amounted to $1900 and the total of the credit
entries to the cash account amounted to $800. The cash account has
a balance of……………….
2. Dawson’s Delivery Service purchased
equipment for $3,500. Dawson paid $500 in cash and signed a note
for the balance. Dawson debited the Equipment account, credited
Cash and
a. debited the Dawson, Capital account for
$2,000.
b. credited...
Account Title
Debit
Credit
Cash
$
5,800
Accounts receivable
29,000
Office supplies
6,353
Trucks
164,000
Accumulated...
Account Title
Debit
Credit
Cash
$
5,800
Accounts receivable
29,000
Office supplies
6,353
Trucks
164,000
Accumulated depreciation—Trucks
$
33,784
Land
47,000
Accounts payable
9,800
Interest payable
18,000
Long-term notes payable
56,000
K. Wilson, Capital
167,463
K. Wilson, Withdrawals
48,000
Trucking fees earned
121,000
Depreciation expense—Trucks
21,791
Salaries expense
54,170
Office supplies expense
20,000
Repairs expense—Trucks
9,933
Totals
$
406,047
$
406,047
Use the above adjusted trial balance to prepare Wilson Trucking
Company’s classified balance sheet as of December 31,...
1. In the first month of operations, the
total of the debit entries to the...
1. In the first month of operations, the
total of the debit entries to the cash account amounted to $1900
and the total of the credit entries to the cash account amounted to
$800. The cash account has a balance of……………….
2. Dawson’s Delivery Service purchased
equipment for $3,500. Dawson paid $500 in cash and signed a note
for the balance. Dawson debited the Equipment account, credited
Cash and
a. debited the Dawson, Capital account for
$2,000.
b. ...
JardCo purchased goods costing $3,000. The purchase was made on
account with terms of 2/10, n/60....
JardCo purchased goods costing $3,000. The purchase was made on
account with terms of 2/10, n/60. The original purchase was
recorded with a DEBIT to Inventory and a CREDIT to Accounts Payable
for $3,000. The account was paid in cash after eight days. Which
ONE of the following is included in the journal entry to record the
payment of cash on account after eight days?
Group of answer choices
CREDIT to Inventory for $60
DEBIT to Inventory for $60
DEBIT...
1. On November 26, Civic Company purchased
$1,200 of supplies on account. The journal entry to...
1. On November 26, Civic Company purchased
$1,200 of supplies on account. The journal entry to record this
transaction will include _____.
a debit to Supplies and a credit to Cash
a debit to Supplies and a credit to Accounts Payable
a debit to Cash and a credit to Supplies
a debit to Accounts Payable and a credit to Supplies
2. On November 21, Civic Company received $550
from customers in payment of their accounts. The journal entry to
record...
The adjusting journal entry for accrued interest is?
Group of answer choices
debit asset, credit liability...
The adjusting journal entry for accrued interest is?
Group of answer choices
debit asset, credit liability
debit expense, credit liability
debit liability, credit stockholders' equity
debit liability, credit expense
debit expense, credit revenue