Author Question: Which of the following entries records the investment of cash by Taylor Thomas, owner of a ... (Read 285 times)

xroflmao

  • Hero Member
  • *****
  • Posts: 515
Which of the following entries records the investment of cash by Taylor Thomas, owner of a proprietorship?
 a. debit Taylor Thomas, Capital; credit Accounts Receivable
  b. debit Cash; credit Taylor Thomas, Capital
  c. debit Taylor Thomas, Drawing; credit Cash
  d. debit Cash; credit Taylor Thomas, Drawing

Question 2

A company may choose to use budgeted rates to allocate direct labor accounts if direct labor costs are difficult to trace to jobs as they are completed.
 
  Indicate whether this statement is true or false.



nyrave

  • Sr. Member
  • ****
  • Posts: 344
Answer to Question 1

b

Answer to Question 2

Answer: TRUE



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Opium has influenced much of the world's most popular literature. The following authors were all opium users, of varying degrees: Lewis Carroll, Charles, Dickens, Arthur Conan Doyle, and Oscar Wilde.

Did you know?

Approximately 70% of expectant mothers report experiencing some symptoms of morning sickness during the first trimester of pregnancy.

Did you know?

Russia has the highest death rate from cardiovascular disease followed by the Ukraine, Romania, Hungary, and Poland.

Did you know?

The most common childhood diseases include croup, chickenpox, ear infections, flu, pneumonia, ringworm, respiratory syncytial virus, scabies, head lice, and asthma.

Did you know?

About 80% of major fungal systemic infections are due to Candida albicans. Another form, Candida peritonitis, occurs most often in postoperative patients. A rare disease, Candida meningitis, may follow leukemia, kidney transplant, other immunosuppressed factors, or when suffering from Candida septicemia.

For a complete list of videos, visit our video library