Indicate whether each of the following events is an internal transaction, an external transaction, or a non-transaction

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Indicate whether each of the following events is an internal transaction, an external transaction, or a non-transaction event. Explain your answer in each case:

(a) Receipt of money from a customer in payment of services to be provided early in the next accounting period.

(b) Equipment is used to provide a service for a customer

(c) The human resources department provided services to the customer service department.

(d) A building owned by the business increased in value

(e) Received payment from a customer on account for services provided in the previous accounting period.

(f) A prospective employee is interviewed and hired for a job

(g) Stationery supplies are used by an employee.

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Accounting

ISBN: 978-1118608227

9th edition

Authors: Lew Edwards, John Medlin, Keryn Chalmers, Andreas Hellmann, Claire Beattie, Jodie Maxfield, John Hoggett

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