This topic contains a solution. Click here to go to the answer

Author Question: If a two-column (all-purpose) general journal, a revenue journal, and a cash receipts journal are ... (Read 95 times)

jrubin

  • Hero Member
  • *****
  • Posts: 552
If a two-column (all-purpose) general journal, a revenue journal, and a cash receipts journal are used, indicate thejournal in which each of the following transactions should be recorded: (a) Investment of additional cash in the business by the owner. (b) Rendering of services for cash. (c) Rendering of services on account. (d) Receipt of cash on account from a customer. (e) Sale of office supplies for cash, at cost, to a neighboring business. (f) Adjustment to record supplies used at the end of the year. (g) Closing of drawing account at the end of the year.

Question 2

These transactions relate to Rudy's Garage, an auto repair shop.
 
  Which two of the following six possibilities occurred as a result of each transaction - an asset increased, an asset decreased, a liability increased, a liability decreased, equity increased, or equity decreased:
   a. Rudy bought 5 batteries on credit. He put the batteries in inventory
   b. Rudy did a repair job for a customer, who paid in cash
   c. In doing the repair job, Rudy used one of the batteries he had bought in transaction a



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

14vl19

  • Sr. Member
  • ****
  • Posts: 310
Answer to Question 1

(a) cash receipts journal
(b) cash receipts journal
(c) revenue journal
(d) cash receipts journal
(e) cash receipts journal
(f) general journal
(g) general journal

Answer to Question 2

a. assets +, liabilities +
b. assets +, equity +
c. assets -, equity -




jrubin

  • Member
  • Posts: 552
Reply 2 on: Jul 5, 2018
:D TYSM


tranoy

  • Member
  • Posts: 344
Reply 3 on: Yesterday
Great answer, keep it coming :)

 

Did you know?

The longest a person has survived after a heart transplant is 24 years.

Did you know?

Persons who overdose with cardiac glycosides have a better chance of overall survival if they can survive the first 24 hours after the overdose.

Did you know?

The most destructive flu epidemic of all times in recorded history occurred in 1918, with approximately 20 million deaths worldwide.

Did you know?

The people with the highest levels of LDL are Mexican American males and non-Hispanic black females.

Did you know?

Pubic lice (crabs) are usually spread through sexual contact. You cannot catch them by using a public toilet.

For a complete list of videos, visit our video library