Determine the balance of each account. Balance Cash Accounts Receivable Supplies Equipment Accounts Payable Wade Wilson, Capital Wade Wilson, Drawing Fees Income Telephone Expense Salaries Expense
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- The debits and credits from three related transactions are presented in the following creditor's account taken from the accounts payable ledger: Apex Performance Co. 101 W. Stratford Ave. NAME ADDRESS Post. Credit Balance Date Item Ref. Debit 20Y7 June 6 P49 12,000 12,000 J12 14 150 11,850 CP23 16 11,850 Describe each transaction and identify the source of each posting.Star Search billed clients P 3,600 for services rendered. Which of the following reflects the proper journal entry for this transaction? A. Debit Accounts Payable P 3,600; credit Agency Revenue P 3,600 B. Debit Accounts Receivable P 3,600; credit Agency Revenue P 3,600 C. Debit Cash P 3,600; credit Agency Revenue P 3,600 D. Debit Agency Revenue P 3,600; credit Accounts Receivable P 3,600For each of the following transactions, state which special journal (Sales Journal, Cash Receipts Journal, Cash Disbursements Journal, Purchases Journal, or General Journal) and which subsidiary ledger (Accounts Receivable, Accounts Payable, neither) would be used in recording the transaction. A. Sold inventory for cash B. Issued common stock for cash C. Received and paid utility bill D. Bought office equipment on account E. Accrued interest on a loan at the end of the accounting period F. Paid a loan payment G. Bought inventory on account H. Paid employees I. Sold inventory on account J. Paid monthly insurance bill
- For each of the transactions, state which special journal (sales journal, cash receipts journal, cash disbursements journal, purchases journal, or general journal) and which subsidiary ledger (Accounts Receivable, Accounts Payable, or neither) would be used in recording the transaction. A. Paid utility bill B. Sold inventory on account C. Received but did not pay phone bill D. Bought inventory on account E. Borrowed money from a bank F. Sold old office furniture for cash G. Recorded depreciation H. Accrued payroll at the end of the accounting period I. Sold inventory for cash J. Paid interest on bank loanThe debits and credits from three related transactions are presented in the following customer's account taken from the accounts receivable subsidiary ledger: Mission Design 1319 Elm Street NAME ADDRESS Post. Date Item Ref. Debit Credit Balance 20Υ7 Apr. 3 R44 740 740 J11 60 680 CR81 24 680 Describe each transaction and identify the source of each posting.Which of the following entries records receiving the cash payment from a customer for previous services performed on account. (AP = Accounts Payable, AR = Accounts Receivable)
- 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…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)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- Non- Expenses Current Current Current Curreni Asseta Liahilities Assets Liabilities 1. Cash 2. Accounts Payable 3. Building 4. Mortgage Payable 5. Service Revenues 6. Accounts Reccivable 7. Salaries Expense 8. Inventory 9. Rent Expense 10. Unearned Service Revenue
- Use the following T-account for Careful Corporation to answer questions 11 and 12: Accounts Receivable Beg. Bal. $ 187 18 150 6 64 15 19 End. Bal. $ ? The ending balance of Accounts Receivable for Careful is: Group of answer choices A. $401 debit B. $343 debit C. $343 credit D. $ 58 credit0. The journal in which invoices for services provided are recorded is the revenue journal0. ____ 1. The ledger which contains all of the financial statement accounts is called th 1. ____ 2. Each transaction in the cash receipts journal will have an amountentered in the debit column entitled2. ____ 3. Each subsidiary ledger is represented by a summarized account in thegeneral ledger, called a(n)3. ____ 4. The accounts in the accounts payable ledger have a normal balance of(debit or credit)4. ____ 5. E-commerce performs transactions over the 5. ____ 6. The special journal designed for recording sales on account is the 7. The special journal designed for recording cash receipts is the 6. ____ 8. The subsidiary ledger containing information on the amounts due from individual customers is the 7. ____ 9. Entries to adjust depreciation expense at…Indicate whether the general ledger accounts will be debited or credited when recording the following entries: Settle the telephone account of R 250 Bank: DEBIT Bank: CREDIT Please avoid image based solutions thnku