Directions: Classify each account according to its category. Put a check (/)on the right column where each item belongs. Write your answers on a separatesheet of paper.AccountAssetsLiabilitiesTitleOwner's RevenueEquityNon-Non-ExpensesCurrentCurrentCurrentCurreniAssetaLiahilitiesAssetsLiabilities1. Cash2. AccountsPayable3. Building4. MortgagePayable5. ServiceRevenues6. AccountsReccivable7. SalariesExpense8. Inventory9. RentExpense10.UnearnedServiceRevenue

Introduction: Balance sheet: All Assets and liabilities are shown in Balance sheet. It tells the net…

Directions: Classify each account according to its category. Put a check (/) on the right column where each item belongs. Write your answers on a separate sheet of paper. Account Assets Liabilities Title Owner's Revenue Equity Non- Expenses Non Current Assets Current Current Curreni Liabilities Assets Liabilities 1. Cash 2. Accounts Payable

Directions: Classify each account according to its category. Put a check (/) on the right column where each item belongs. Write your answers on a separate sheet of paper. Account Assets Liabilities Title Owner's Revenue Equity Non- Expenses Non Current Assets Current Current Curreni Liabilities Assets Liabilities 1. Cash 2. Accounts Payable

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter3: Setting Up A New Company

Section: Chapter Questions

Problem 6Q

See similar textbooks

Similar questions

Will an accounts receivable balance increase with a debit or a credit entry? How do you know?
Directions: Write (+) if there is an increase, (-) if there is a decrease, or NE if there is no effect on the assets, liabilities and equity accounts. Write your answers on a separate sheet of paper. Liability Owner's Equity Transactions Asset 1. Invested cash in the business 2. Purchased equipmnent on a cash basis 3. Billed a customer for a spa service 4. Paid employee's salary 5. Purchased supplies on account 6. Paid an advertisement for the company's new product 7. Paid the rent in advance 8. Received cash from customers 9. Withdrew cash for some personal use 10. Invested a vehicle on the company
When you collected Accounts Receivables, your entry would include? * O Debit Accounts Receivable O Credit Cash O Debit Cash O Credit Accounts Payable
Why did you select those customer accounts? also how to use a cell reference to enterthe answer for the 1st question? ( Whatis the dollar amount of total receivables? Use a cell reference to input your answer)
Listed below are the transactions of Joseph Moore, D.D.S., for the month of September. Sept. 1 2 4 4 5 8 10 14 18 19 20 25 30 30 Moore begins practice as a dentist, invests $20,030 cash and issues 2,003 shares of $10 par stock. Purchases dental equipment on account from Green Jacket Co. for $17,820. Pays rent for office space, $690 for the month. Employs a receptionist, Michael Bradley. Purchases dental supplies for cash, $900. Receives cash of $1,770 from patients for services performed. Pays miscellaneous office expenses, $420. Bills patients $5,950 for services performed. Pays Green Jacket Co. on account, $3,760. Pays a dividend of $3,090 cash. Receives $1,060 from patients on account. Bills patients $1,980 for services performed. Pays the following expenses in cash: Salaries and wages $1,700; miscellaneous office expenses $83. Dental supplies used during September, $320. Record depreciation using a 5-year life on the equipment, the straight-line method, and no salvage value.
A journal entry to record a payment on account will include a O debit to Accounts Payable. O credit to Accounts Payable. O debit to Accounts Receivable. O credit to Accounts Receivable.
For each account, indicate whether it appears in the general ledger or the subsidiary ledger. Accounts Payable - Igwe Choose. Accounts Receivable - Ukpolo Choose. Prepaid Rent Choose. Notes Payable Choose. Store Supplies Choose. Interest Expense Choose.
SUBJECT: Financial Accounting and Reporting Instruction: Choose the Debit and Credit Accounts of the following transactions. TRANSACTION: Opened an account with Bank and made initial deposit1. Debit *a. Cash In Bankb. Accounts Receivablec. Unused Laundy Suppliesd. Prepaid Insurancee. Equipmentf. Accounts Payableg. Unearned Incomeh. Amora, Drawingi. Amora, Capitalj. Service Incomek. Salaries ExpenseL.Taxes and Licensesm.Transportation 2. Credit *a. Cash In Bankb. Accounts Receivablec. Unused Laundy Suppliesd. Prepaid Insurancee. Equipmentf. Accounts Payableg. Unearned Incomeh. Amora, Drawingi. Amora, Capitalj. Service Incomek. Salaries ExpenseL.Taxes and Licensesm.Transportation TRANSACTION: Bought Equipment on Account3. Debit *a. Cash In Bankb. Accounts Receivablec. Unused Laundy Suppliesd. Prepaid Insurancee. Equipmentf. Accounts Payableg. Unearned Incomeh. Amora, Drawingi. Amora, Capitalj. Service Incomek. Salaries ExpenseL.Taxes and Licensesm.Transportation 4. Credit *a. Cash In…
Which item will appear on the credit side of the ledger account? a. Salary b. Drawings c. Service revenue d. Accounts receivable
"Identifying general and subsidiary ledgers C2For each account, indicate whether it appears in the general ledger or the subsidiary ledger.a. Accounts Receivable—Martinb. Interest Expensec. Prepaid Rentd. Accounts Payable—Juliee. Notes Payablef. Store Supplies
All transactions entered in this window result in a debit to the Accounts Receivable account. a. Invoice b. Undeposited Funds c. Accounts Payable d. Cash
Instructions: Use the following account titles: Cash, Accounts Receivable, Notes Receivable, Medical Supplies, Office Equipment, Furniture and Fixtures, Accounts Payable, Notes Payable, Salaries Payable, Mateo, Capital, Mateo Drawing, Service Revenue, Rent Expense, Salaries Expense, Taxes and Licenses Expense, Supplies Expense, Advertising Expense, and Utilities Expense a. Journalize the transactions below. b. Posting the transactions to their corresponding t-accounts. c. Prepare the unadjusted trial balance Arianne Mateo established a business called ASM Medical Clinic on September 1, 2018. The following are the transactions occurred during the month of September 2018. 1 Ms. Mateoo deposited cash amounting to P350,000 under the name of the company. 1 Tables and chairs were purchased from JohnD Furniture at a total cost of P300,000, 40% on cash and balance by issuing a promissory payable after thirty (30) days. Registered the business name with DTI and paid P5,000. 9 Hired 2 clinic…