Author Question: The outputs from a manual or an electronic payroll accounting system include all of the following ... (Read 153 times)

stephzh · **on:** Jul 5, 2018

The outputs from a manual or an electronic payroll accounting system include all of the following EXCEPT
a. payroll checks.
b. a payroll register.
c. an employee earnings record.
d. time cards.

Question 2

Analyze each of the following cash transactions and show the effect of each transaction on the accounting equation by writing the dollar amounts and account titles in the appropriate columns.

If amount is negative put the amount in () or put a - in front of the amount.

Shareholders' equity
Transaction Total assets Total liabilities Contributed capital Retained earnings
a. Issued 10,000 of stock.
b. Paid 11,000 for inventory.
c. Paid 2,500 in advertising expense.
d. Earned 18,000 in sales revenues.
e. The cost of the goods sold in d. was 10,000.

batool · **Reply #1 on:** Jul 5, 2018

Answer to Question 1

d

Answer to Question 2

Shareholders' equity
Total
assets Total liabilities Contributed capital Retained earnings
a. 10,000 Cash 10,000 Common stock
b. (11,000) Cash
11,000 Inventory
c. (2,500) Cash (2,500) Adv. exp.
d. 18,000 Cash 18,000 Sales
e. (10,000) Inventory (10,000) Cost of goods sold