Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
This exercise will test your understanding of the debit and credit rules.
A list of accounts appears below:
Debit
Credit
1.
Cash
√
2.
Sales Revenue
3.
Commissions Expense
4.
Advertising Expense
5.
Salaries and Wages Payable
6.
Prepaid Insurance
7.
Property Taxes Payable
8.
Property Tax Expense
9.
Dividends
10.
Interest Revenue
11.
Salaries and Wages Expense
12.
Commissions Revenue
13.
Unearned Service Revenue
14.
Equipment
15.
Note Payable
16.
Building
17.
Accounts Payable
18.
Land
19.
Accounts Receivable
20.
Common Stock
Instructions
For each account, put a check mark (√) in the appropriate column to indicate if it is increased by an entry in the debit (left) side of the account or by an entry in the credit (right) side of the account. The first one is done for you.
TIP: In essence, you are being asked to identify the normal balance of each of the accounts listed. The normal balance of an account is the side where increases are recorded.
laine and emma form the equal el partnership. emma contributes cash of 100000. laine contributes property with an
The equipment had a useful life of eight years and a residual value of $0. Both companies use straight-line depreciation. On their separate 2014 income statements, Parent and Son reported depreciation expense of $8,000 and $20,000 respectively.
Quadrado uses the LIFO method to account for inventory costs. Determine cost of goods sold amounts to record dor the three months ending September 30,2011.
Compute break-even at each level and is the company likely to achieve its desired target profit of $4,000,000 or more? Support your discussion with financial analysis and compute the margin of safety and explain the meaning of the number derived.
Most decisions made by management impact the ratios analysts use to evaluate performance.
question bennett inc. is a publicly held company whose diversified operations have been separated into five industry
Discuss ramifications and implications of Section 1031 exchanges and Section 121 exclusions, considering the impact of the recent increase in housing prices and the initial decline in housing today.
Elucidate which accounting principle requires Marian to keep her personal financial information separate from the financial information of Mosely Accounting Services
As sales manager, Terry Dewitt was given the following static budget report for selling expenses in the Clothing Department of Garber Company for the month of October.
The bond pays interest twice per year, on June 30 and December 31. Illustrate at what price was the bond issued?
Purpose a pension worksheet for the pension plan for 2013 and 2014.
Inadequate segregation of duties over certain information system access controls.
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd