Record entries in the journal and also post them come the ledger, prepare the unadjusted trial balance, record and also post adjusting entries, prepare the adjusted trial balance, prepare the financial statements, close the momentary accounts into Retained Earnings and also prepare a post-closing psychological balance.
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When Pizza agency sells 3 $100 gift cards at the beginning of the month, it have to record a $300 debit come ______ and also a $300 credit transaction to ______.
When a agency pays cash in advancement for rent that is come be provided over the following two years, the agency records a debit come ______ and also a credit transaction to ______.
How plenty of of the adhering to accounts have actually a regular credit balance?Unearned RevenueSales RevenueAccounts ReceivableAccumulated DepreciationCost of products SoldInventoryPrepaid Expenses
3;Unearned Revenue (+L) creditSales Revenue (+SE) creditAccounts receivable (+A) debitAccumulated Depreciation (-A) creditCost of products Sold (-SE) debitInventory (+A) debitPrepaid costs (+A) debitAssets, Expenses and Dividends boost with debits and thus have normal debit balances.Liabilities, Stock and Revenues increase with credits and also thus have normal credit transaction balances.
Accounts ReceivableCorrect A. DebitAccounts PayableCorrect B. CreditSalary PayableCorrect B. CreditSalesCorrect B. CreditAccumulated DepreciationCorrect B. CreditDepreciation ExpenseCorrect A. DebitSalary cost Correct A. DebitUnearned Revenue correct B. CreditCommon stock Correct B. CreditSupplies exactly A. Debit
The beginning balance in Lucre"s notes Payable to be $50,000. Throughout the month, Lucre obtained $60,000 cash native Last nationwide Bank and then paid an initial National bank the $40,000 that had obtained five month prior. The balance in Lucre"s notes Payable is currently a ______.
The adjusting entrance to record revenue earned but not however billed to customers consists of a debit to ______.
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On December 1, Morris Lest, Inc., borrowed $79,000 through issuing a 7-month keep in mind at 6%. Interest Payable at December 31 amounts to ______.