Author Question: Which of the following entries records the investment of cash by Taylor Thomas, owner of a ... (Read 220 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?

Today, nearly 8 out of 10 pregnant women living with HIV (about 1.1 million), receive antiretrovirals.

Did you know?

Acetaminophen (Tylenol) in overdose can seriously damage the liver. It should never be taken by people who use alcohol heavily; it can result in severe liver damage and even a condition requiring a liver transplant.

Did you know?

Everyone has one nostril that is larger than the other.

Did you know?

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

Did you know?

Human kidneys will clean about 1 million gallons of blood in an average lifetime.

For a complete list of videos, visit our video library