THE AC AFFECTE Instructions: Identify the ACCOUNTS TITTLES that are affected by the transactions described below. The first item is given as an example. TRANSACTIONS ACCOUNTS TITTLES AFFECTED Example: Owner's cash investment to Owner's Capital I Cash the business 1. Sale of goods on account (disregard cost of sales) 2.Charging the cost of goods sold #1 above as expense 3.Purchase of inventory for cash 4.Payment of utilities expense 5. Payment of accounts payable

THE AC AFFECTE Instructions: Identify the ACCOUNTS TITTLES that are affected by the transactions described below. The first item is given as an example. TRANSACTIONS ACCOUNTS TITTLES AFFECTED Example: Owner's cash investment to Owner's Capital I Cash the business 1. Sale of goods on account (disregard cost of sales) 2.Charging the cost of goods sold #1 above as expense 3.Purchase of inventory for cash 4.Payment of utilities expense 5. Payment of accounts payable

Name: eps in the accounting cycle are required; none is optional.ACTIVITY 4
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Description: eps in the accounting cycle are required; none is optional.ACTIVITY 4: IDENTIFYING THE ACCOUNTS AFFECTEDInstructions: Identify the ACCOUNTS TITTLES that are affected by the transactionsdescribed below. The first item is given as an example.TRANSACTI

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter4: The Adjustment Process

Section: Chapter Questions

Problem 1EA: Identify whether each of the following transactions, which are related to revenue recognition, are...

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