Identify the accounts to be debited and credited

Reference no: EM13763703

Transactions for the George Lynch Company for the month of June are presented below.

June 1		George Lynch invests $5,000 cash in a small welding business of which he is the sole proprietor.
2		Purchases equipment on account for $2,100.
3		$800 cash is paid to landlord for June rent.
12		Sends a bill to M. Rodero for $300 for welding work performed on account.

Identify the accounts to be debited and credited for each transaction.

Reference no: EM13763703

Questions Cloud

Prepare a classified balance sheet with a proper heading : Prepare a classified balance sheet with a proper heading on a spreadsheet. For assets, use the classifications of current assets, plant and equipment, intangibles, and other assets. For liabilities, use the classifications of current liabilities a..

What skills does a non-legal person need as an employee : Consider how the world of business interacts with the legal realm. What skills does a non-legal person need as an employee?

Determine how application pools will help to reduce costs : Determine how application pools will help to reduce costs. Be specific in your configuration specifications. Formulate how using AD groups and NTFS permissions should best be configured for security and appropriate access.

How is search and seizure governed by the fourth amendment : How is search and seizure governed by the Fourth Amendment? How do you feel that the police could have completed their searches in these cases more efficiently

Identify the accounts to be debited and credited : Identify the accounts to be debited and credited for each transaction.

Analyze the impact of economic on development of it : Analyze the impact of economic factors on the development of IT strategy decisions at the enterprise level of the organization.

Write essy that clearly state in your words surprise ending : Clearly state in your own words the "surprise ending" in the reading you selected. Clearly identify the point in the reading when you realized that there were elements in the reading that surprised you.

Preventative measures for this pollution : What are the possible effects and consequences of this pollution to human and ecosystem health?

What is the stock expected price : 35.50 per share is the current price for Foster Farms' stock. The dividend is projected to increase at a constant rate of 5.50% per year. The required rate of return on the stock, rs, is 9.00%. What is the stock's expected price 3 years from today..

User Account

All Pages