This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: If a two-column (all-purpose) general journal, a revenue journal, and a cash receipts journal are ... (Read 92 times)

jrubin

  • Hero Member
  • *****
  • Posts: 552
on: Jul 5, 2018
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
Reply #1 on: Jul 5, 2018
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
YES! Correct, THANKS for helping me on my review

kswal303

  • Member
  • Posts: 316
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

All adults should have their cholesterol levels checked once every 5 years. During 2009–2010, 69.4% of Americans age 20 and older reported having their cholesterol checked within the last five years.

Did you know?

As of mid-2016, 18.2 million people were receiving advanced retroviral therapy (ART) worldwide. This represents between 43–50% of the 34–39.8 million people living with HIV.

Did you know?

The first successful kidney transplant was performed in 1954 and occurred in Boston. A kidney from an identical twin was transplanted into his dying brother's body and was not rejected because it did not appear foreign to his body.

Did you know?

Atropine, along with scopolamine and hyoscyamine, is found in the Datura stramonium plant, which gives hallucinogenic effects and is also known as locoweed.

Did you know?

Signs and symptoms that may signify an eye tumor include general blurred vision, bulging eye(s), double vision, a sensation of a foreign body in the eye(s), iris defects, limited ability to move the eyelid(s), limited ability to move the eye(s), pain or discomfort in or around the eyes or eyelids, red or pink eyes, white or cloud spots on the eye(s), colored spots on the eyelid(s), swelling around the eyes, swollen eyelid(s), and general vision loss.

General differences in food webs and carbon flow among terrestrial and aquatic ecosystems (adapted f General differences in food webs and carbon flow among terrestrial and aquatic ecosystems (adapted f
A replaceable PROM used in an older General Motors computer. Notice that the sealed access panel ... A replaceable PROM used in an older General Motors computer. Notice that the sealed access panel ...
Prove the following arguments using the two-column format. Prove the following arguments using the two-column format.
General Mathematics General Mathematics
General Mathematics General Mathematics
Last year, Terrific Copying had total revenue of $475 000, while operating at 60% of capacity. ... Last year, Terrific Copying had total revenue of $475 000, while operating at 60% of capacity. ...
Video: Interview with Person having Obsessive Compulsive Disorder

For a complete list of videos, visit our video library