When a company receives cash before products or services are provided the following results:单项选择题
A
Assets and stockholders' equity increase.
B
Assets and revenue increase.
C
Liabilities and revenues increase.
D
Liabilities and assets increase.
登录即可查看完整答案
我们收录了全球超50000道真实原题与详细解析,现在登录,立即获得答案。
类似问题
The Surfboard Centre paid $5,000 cash for inventory. These boards are on display in their showroom. This transaction will:
On 1 January 2020, a business started the day with Assets of $200 000, Liabilities of $120 000 and Owner's Equity of $80 000. On the 1 January, the first transaction that occurred was: The business purchased inventory on credit valued at $5 000 (Inv. 45) What would be the value of Assets after the transaction?
Which of the following best describes the double-entry rule?
Which of the following best describes the double-entry rule?
The owner of Lombardo Locks has provided the following transaction in relation to her business. May 10 Received $1,200 cash from accounts receivable. Required: A. Record the above transaction in the following journal book of Lombardo Locks. NOTE: Record the debit entry (account) before the credit entry for each journal, and select “N/A” if any box is not required [table] Date | Accounts/Details | Debit (Dr) | Credit (Cr) May 10 | Blank 1 Question 10 BankVehicleStock of MaterialsShop FittingsAccounts ReceivableAccounts PayableCapitalDrawingsService IncomeWage ExpenseN/A | Blank 2 Question 10 1,200N/A | Blank 3 Question 10 1,200N/A Blank 4 Question 10 BankVehicleStock of MaterialsShop FittingsAccounts ReceivableAccounts PayableCapitalDrawingsService IncomeWage ExpenseN/A | Blank 5 Question 10 1,200N/A | Blank 6 Question 10 1,200N/A [/table] B. Enter the journal listed above into the following general ledger accounts. NOTE: Click each box, and from the dropdown list, select the appropriate date, details and dollar amount. Select “N/A” if any ledger box is not required. BANK [table] Date | Details | $ | Date | Details | $ May 1 | Capital | 35,000 | May 3 | Shop Fittings | 4,000 May 4 | Service Income | 3,000 | May 6 | Wage Expense | 500 Blank 7 Question 10 May 10N/A | Blank 8 Question 10 BankVehicleStock of MaterialsShop FittingsAccounts ReceivableAccounts PayableCapitalDrawingsService IncomeWage ExpenseN/A | Blank 9 Question 10 1,200N/A | May 8 | Accounts Payable | 1,200 | | | May 9 | Drawings | 1,000 | | | Blank 10 Question 10 May 10N/A | Blank 11 Question 10 BankVehicleStock of MaterialsShop FittingsAccounts ReceivableAccounts PayableCapitalDrawingsService IncomeWage ExpenseN/A | Blank 12 Question 10 1,200N/A [/table] ACCOUNTS RECEIVABLE [table] Date | Details | $ | Date | Details | $ May 5 | Service Income | 2,000 | Blank 13 Question 10 May 10N/A | Blank 14 Question 10 BankVehicleStock of MaterialsShop FittingsAccounts ReceivableAccounts PayableCapitalDrawingsService IncomeWage ExpenseN/A | Blank 15 Question 10 1,200N/A Blank 16 Question 10 May 10N/A | Blank 17 Question 10 BankVehicleStock of MaterialsShop FittingsAccounts ReceivableAccounts PayableCapitalDrawingsService IncomeWage ExpenseN/A | Blank 18 Question 10 1,200N/A | | | [/table]
The following transactions relate to the business of Betty’s Fashions, a service business. Jun 4 Purchased $8,000 worth of sewing materials on credit from Habba Ltd. Required: A. Indicate the effect of the above transaction on the accounting equation. NOTE: Click each box, and from the dropdown list, select the appropriate effect. Select “Not effect” if the account is not affected. [table] Date | Assets | = | Liability | + | Owner’s Equity | + | Incomes | _ | Expenses Cash | Premises | Swing Equipment | Swing Materials | Accounts Receivable | | Accounts Payable | Loan | | Capital | | Service Income | | Wage Jun 4 | Blank 1 Question 4 IncreaseDecreaseNo effect | Blank 2 Question 4 IncreaseDecreaseNo effect | Blank 3 Question 4 IncreaseDecreaseNo effect | Blank 4 Question 4 IncreaseDecreaseNo effect | Blank 5 Question 4 IncreaseDecreaseNo effect | Blank 6 Question 4 IncreaseDecreaseNo effect | Blank 7 Question 4 IncreaseDecreaseNo effect | Blank 8 Question 4 IncreaseDecreaseNo effect | Blank 9 Question 4 IncreaseDecreaseNo effect | Blank 10 Question 4 IncreaseDecreaseNo effect [/table] B. Record the above transaction in the following journal book of Betty’s Fashions. NOTE: Record the debit entry (account) before the credit entry for each journal, and select “N/A” if any box is not required. [table] Journal Entry Date | Accounts/Details | Debit (Dr) | Credit (Cr) Jun 4 | Blank 11 Question 4 CashPremisesSewing EquipmentSwing MaterialsAccounts ReceivableAccounts PayableLoanCapitalService IncomeWageN/A | Blank 12 Question 4 8,000N/A | Blank 13 Question 4 8,000N/A Blank 14 Question 4 CashPremisesSewing EquipmentSwing MaterialsAccounts ReceivableAccounts PayableLoanCapitalService IncomeWageN/A | Blank 15 Question 4 8,000N/A | Blank 16 Question 4 8,000N/A [/table] C. Enter the transactions listed above into the following general ledger accounts. NOTE: Click each box, and from the dropdown list, select the appropriate date, details and dollar amount. Select “N/A” if any ledger box is not required. SEWING MATERIALS [table] Date | Details | $ | Date | Details | $ Blank 17 Question 4 Jun 1Jun 3Jun 4Jun 5Jun 6Jun 7N/A | Blank 18 Question 4 CashPremisesSewing EquipmentSwing MaterialsAccounts ReceivableAccounts PayableLoanCapitalService IncomeWageN/A | Blank 19 Question 4 8,000N/A | Blank 20 Question 4 Jun 1Jun 3Jun 4Jun 5Jun 6Jun 7N/A | Blank 21 Question 4 CashPremisesSewing EquipmentSwing MaterialsAccounts ReceivableAccounts PayableLoanCapitalService IncomeWageN/A | Blank 22 Question 4 8,000N/A [/table] ACCOUNTS PAYABLE [table] Date | Details | $ | Date | Details | $ Blank 23 Question 4 Jun 1Jun 3Jun 4Jun 5Jun 6Jun 7N/A | Blank 24 Question 4 CashPremisesSewing EquipmentSwing MaterialsAccounts ReceivableAccounts PayableLoanCapitalService IncomeWageN/A | Blank 25 Question 4 8,000N/A | Blank 26 Question 4 Jun 1Jun 3Jun 4Jun 5Jun 6Jun 7N/A | Blank 27 Question 4 CashPremisesSewing EquipmentSwing MaterialsAccounts ReceivableAccounts PayableLoanCapitalService IncomeWageN/A | Blank 28 Question 4 8,000N/A [/table]
The business has a loan of $50,000 and has been making interest-only repayments of $1000 per month. The business must now repay the loan balance at the end of the loan. Select the flows and accounts that the business would use to record this transaction. Please select a drop-down selection for every box. Assets = Liabilities + Equity [ Select ] Cash No account required Accounts payable Investments Accounts receivable [ Select ] Accounts payable Bank loan No account impacted [ Select ] Dividends Revenue Interest expense No account required Share capital [ Select ] - $50,000 $0 + $50,000 [ Select ] + $50,000 - $50,000 $0 $0
Din Djarin owns The Mandalorian childcare. The business purchases new kitchen equipment for $27,000 to prepare meals for children attending the centre. The equipment was purchased using cash. Select the flows and accounts that the business would use to record this transaction. Please select a drop-down selection for every box. Assets = Liabilities + Equity [ Select ] Cash Accounts receivable Machine No account required [ Select ] No account required Prepaid expenses Cash Equipment Not required [ Select ] No account required Cost of sales Equipment expense Sales revenue [ Select ] - $27,000 $0 [ Select ] $0 + $27,000 [ Select ] + $27000 - $27000 $0
更多留学生实用工具
希望你的学习变得更简单
加入我们，立即解锁 海量真题 与 独家解析，让复习快人一步！