Identify the impact of each of the given transactions on the accounting equation: Transactions a. The company pays workers for wages earned. b. The company provides services for cash. c. The company pays this period's water bill. d. The owner invests cash in the business. e. The company pays cash toward an account payable. f. The company receives cash from an accounts receivable. Impacts

Explain accrual basis accounting, and when to recognize revenues and expenses and how it differs from cash accounting. Provide a detailed example of a business that may use cash accounting.

Under the accrual basis of accounting - if cash has been received before the revenue has been earned, which of the following journal entries should be recorded?   A)  Debit Cash,         Credit Unearned Revenue.   B) Debit Cash,         Credit Sales Revenue.   C) Debit Unearned Revenue,          Credit Cash.   D) Debit Cash,           Credit Accounts Receivable.

What accounts are considered temporary?  Describe the process to close these temporary accounts?  list the steps in the accounting cycle and describe the importance of each step ? What is liquidity?  What is solvency?  How are these evaluated in a business ?

Could anyone explain this question? indicate the financial statement on which the account’s balance should be found. Also, if the account is shown on a company’s balance sheet, indicate if it should appear in the asset section, liability section, retained earnings section, income section, or stockholders’ equity section.  Accounts Receivable Note Receivable Discount on Note Receivable Bank Service Charge Expense Bad Debts Expense Sales Return Liability Interest Revenue Allowance for Doubtful Accounts Cash Over/ Short Interest Receivable Sales Returns and Allowances

Which of the following describe the Salaries payable account? (Check all that apply.)Which of the following describe the Salaries payable account? (Check all that apply.) Multiple select question. It is reported on the income statement. It is a liability account. It reports amounts owed to employees. It is increased with a debit. It is reported on the balance sheet. It is increased with a credit.

accounting records the impact of a business event when it occurs, regardless of whether the transaction affected cash

A business provider services to a customer on credit.Which of the following is correct: A.Assets increase and liabilities decrease at the time the cash is collected B.Assets increase and liabilities increase at the time of the sale C.Assets increase and the owner's equity increases at the time the cash is collected D.Assets increase and the owner's equity increases at the time of the sale