Acc 300 Week 4 Equations

Accounting 300 Learning Team Week 2 4. signalize how each business transaction affects the basic storeying equation. (a) profitable cash for janitorial services. change magnitude gold Increase Liabilities (b) Purchased equipment for cash. flow Cash Increase Assets (c) Issued general stock to investors in convince for cash Increase Cash Decrease in parentage Equity. (d) Paid an trace payable in bounteous. Decrease Cash Decrease Liability 10. What is the habitual balance for each of these accounts? (a) Accounts Receivable. calculate (b) Cash. calculate (c) Dividends. account (d) Accounts Payable.Credit (e) assist Revenue.Credit (f ) Salaries and Wages outlay.Debit (g) Common Stock.Credit 11. Indicate whether each account is an asset, a liability, or a stockholders equity account, and whether it would have a normal debit or citation balance. (a) Accounts Receivable Assets Debit (b) Accounts Payable Liability Credit (c) Equipment Asset Debit (d) Dividends shareholders Equity Debit (e) Supplies Asset Debit 12. For the following(a) transactions, indicate the account debited and the account imputeed.

(a) Supplies argon purchased on account. Debit: Supplies Credit: Accounts Payable (b) Cash is received on confirm a note payable. Debit: Cash Credit: tick off Payable (c) Employees are paid salaries in cash. Debit: Salaries Expense Credit: Cash 13. For each account listed here, indicate whether it primarily will have debit entries exclusively, credit entries only, or both(prenominal) debit and credit entries. (a) Cash two debit and credit entries (b) Accounts Receivable Both debit and cre! dit entries (c) Dividends Debit entries only (d) Accounts Payable Both debit and credit entries

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