The journal entry to record the purchase of equipment for

Assignment Help Accounting Basics
Reference no: EM13389442

The journal entry to record the purchase of equipment for a $100 cash down payment and a balance of $400 due in 30 days would include

A) a debit to Equipment for $100 and a credit to Cash for $100.

B) a debit to Equipment for $500, a credit to Cash for $100, and a credit to Accounts Payable for $400.

C) a debit to Equipment for $100 and a credit to Accounts Payable for $400.

D) debit to Equipment for $500 and a credit to Cash for $500.

Reference no: EM13389442

Questions Cloud

Suppose your bottling plant is in need of a new bottle : suppose your bottling plant is in need of a new bottle capper. you are considering two different capping machines that
Explain how you would convince businesses to increase : discuss how you would convince businesses to increase exports and how you would put an ad campaign together directed at
Select any two of the fundamental theories listed below and : select any two of the fundamental theories listed below and begin to research the internet and online library to
The journal entry to record the payment of current month : the journal entry to record the payment of the current month utility bill would includea a debit to utilities expense
The journal entry to record the purchase of equipment for : the journal entry to record the purchase of equipment for a 100 cash down payment and a balance of 400 due in 30 days
The chemical messengers in the nervous system which can : the chemical messengers in the nervous system which can affect mood memory and well-being are calledperipheral
Give 3 examples of inventory control systems tools describe : the warehouse manager and his staff have been very impressed with your presentation thus far. they are very interested
You will assess organizational change and its impactnbsp : you will assess organizational change and its impact.nbsp you will assess why individuals resist changes and discuss
According to sociobiologists it is adaptive for male : according to sociobiologists it is adaptive for male courtship behavior todesire stability.idealize security.be

Reviews

Write a Review

Accounting Basics Questions & Answers

  Ken elects to use the foreign-earned income exclusion

Ken resided in Ireland from July 1, 2011, through June 30, 2012, visiting relatives. While he was there he earned $35,000 working in his cousin's pub.

  What income does alan recognize from the distribution

Caravan Corporation has always been an S corporation. Caravan Corporation is 100% owned by Alan Merten. On January 1, Alan has an adjusted basis of $50,000 in his Caravan stock.

  Supplies expense of the year

A company office supplies account shows a beginning balance of $600 and an anding balance of $400. if office supplies expense of the year is $3,100, what amount of office supplies was purchased during the period?

  Problem related to purchase of land

Jonas Lumber Company owns a 7,000-acre tract of timber purchased in 2003 at a cost of $1,300 per acre. At the time of purchase the land was estimated to have a value of $300 per acre without the timber.

  Effective-interest amortization problem

A company issues $20,000,000, 7.8%, 20-year bonds to yield 8% on January 1, 2007. Interest is paid on June 30 and December 31. The proceeds from the bonds are $19,604,145. Using effective-interest amortization, what will the carrying value of the ..

  Advanced nbspmanagement accounting questionsq1 activity

advanced nbspmanagement accounting questionsq1 activity based managementseneca foods is a regional producer of

  What would be the impact on monthly profits

The normal selling price is $18 per unit. The company's capacity is 12,000 units per month. Due to the University of Alabama participating in the BCS National Championship Game, an order has been received from a retailer for 2,000 additional T-shi..

  Give the entry to reimburse the fund

On November 1, a company established a $90 petty cash fund. On November 12, the petty cash fund contains $3 in cash and the following paid petty cash receipts: transportation-in on merchandise inventory

  Long-formal accounting reports

What are some examples of long formal reports? When might an accounting department or accounting firm use these reports?

  Why is materiality sometimes difficult to apply in practice

Which two components of internal control must management assess when reporting on internal control to comply with Section 404 of SOX?

  Ron adjusted gross income

Ron served as a resident advisor in a dormitory and, therefore, the university waived the $2,500 charge for the room he occupied. What is Ron's adjusted gross income for 2010?

  Expenditures for infrastructure

A government incurred expenditures for its infrastructure as follows: $20 million for general repairs; $21 million to extend the life of existing infrastructure; $22 million for improvements and additions. If depreciation is to be charged, the amo..

Free Assignment Quote

Assured A++ Grade

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd