« previous next »

Author Question: Which of the following entries records the investment of cash by Taylor Thomas, owner of a ... (Read 280 times)

xroflmao

  • Hero Member
  • *****
  • Posts: 515
on: Jul 5, 2018
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
Reply #1 on: Jul 5, 2018
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
« previous next »
 

Did you know?

In 2012, nearly 24 milliion Americans, aged 12 and older, had abused an illicit drug, according to the National Institute on Drug Abuse (NIDA).

Did you know?

The B-complex vitamins and vitamin C are not stored in the body and must be replaced each day.

Did you know?

Asthma is the most common chronic childhood disease in the world. Most children who develop asthma have symptoms before they are 5 years old.

Did you know?

A recent study has found that following a diet rich in berries may slow down the aging process of the brain. This diet apparently helps to keep dopamine levels much higher than are seen in normal individuals who do not eat berries as a regular part of their diet as they enter their later years.

Did you know?

Chronic necrotizing aspergillosis has a slowly progressive process that, unlike invasive aspergillosis, does not spread to other organ systems or the blood vessels. It most often affects middle-aged and elderly individuals, spreading to surrounding tissue in the lungs. The disease often does not respond to conventionally successful treatments, and requires individualized therapies in order to keep it from becoming life-threatening.

Thomas Jefferson (1743–1826). Thomas Jefferson (1743–1826).
The first five reactions constitute the energy-investment phase of glycolysis The first five reactions constitute the energy-investment phase of glycolysis
Relationship between Trust and Investment Relationship between Trust and Investment
Investment in Computers as a Percentage of GDP, 1982–2009 Investment in Computers as a Percentage of GDP, 1982–2009
The Equinox Fabrication Plant suffered a fire incident in August, and most of the records for ... The Equinox Fabrication Plant suffered a fire incident in August, and most of the records for ...
Video: Uterine (menstrual) cycle - phases

For a complete list of videos, visit our video library