You are watching: A business’s general journal provides a place for recording all of the following except:
The cash payment of a $1,190 account payable was posted as a debit to Accounts Payable and also a delittle bit to Cash for $1,190.
The crmodify purchase of a brand-new oven for $5,100 was posted to Kitchen Equipment as a $5,100 delittle bit and to Accounts Payable as a $5,100 debit. What result would this error have on the trial balance?
The total of the Delittle bit column of the trial balance will certainly exceed the full of the Credit column by $10,200.
Identify the account provided by businesses to record the transport of assets from a business to its owner for individual use:
Adriana Graphic Design receives $2,550 from a customer billed in a previous month for services gave. Which of the following basic journal entries will Adriana Graphic Deauthorize make to record this transaction?
Specter Consulting purchased $8,500 of offers and also passist cash immediately. Which of the adhering to general journal entries will certainly Specter Consulting make to record this transaction? Assume the company"s plan is to initially document prephelp and unearned items in balance sheet accounts.
Which of the complying with is NOT an ascollection account:Multiple ChoiceEquipmentServices RevenueLandBuildingsCash
Which of the complying with is NOT an equity account:Services RevenueOwner, CapitalOwner, WithdrawalsUnearned Revenue
A tool that represents a ledger account and also is used to display the impacts of transactions is dubbed a:
Jose Consulting paid $720 cash for utilities for the current month. Determine the general journal enattempt that Jose Consulting will make to record this transactivity.
At year-finish, a trial balance verified total credits exceeding complete debits by $5,100. This difference could have been resulted in by:
The balance of $5,680 in the Office Equipment account being entered on the trial balance as a delittle of $580.
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Identify the account below that is classified as an asset account:Multiple ChoiceAccounts PayableUnearned RevenueJ. Jackkid, CapitalSupplies
Rusmarket Co. obtained a $840 utility bill for the existing month"s power. It is not due till the end of the next month which is when they intfinish to pay it. Which of the complying with basic journal entries will Rusoffer Co. make to document the receipt of the bill?
Centurion Co. had actually the complying with accounts and also balances at December 31:AccountDebit CreditCash$12,400 Accounts Receivable 2,480 Prephelp Insurance 3,360 Supplies 1,480 Accounts Payable $6,200 T. Happy, Capital 6,340 Service Revenue 9,400 Incomes Expense 740 Utilities Expense 1,480 Totals$21,940 $21,940Using the indevelopment in the table, calculate the company"s reported net earnings for the duration.
A company"s balance sheet shows: cash $54,000, accounts receivable $32,000, office devices $66,000, and accounts payable $33,000. What is the amount of owner"s equity?
Corporate Finance (The Mcgraw-Hill/Irwin Series in Finance, Insurance, and also Real Estate)11th EditionBradford D. Jordan, Randolph W. Westerfield, Stephen A. Ross