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Hello I need help with this discussion and need to follow the instructions bellow I have the grading way bellow too please help me I

Hello I need help with this discussion and need to follow the instructions bellow

I have the grading way bellow too

please help me I will really appreciate it

this is Principals of accountings

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Now those are examples from classmates:

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I need to create my own my own post please heelp me

In this chapter we were provided a chart of accounts with sixteen accounts in exhibit 2 in the text. From that chart of accounts select an account (try to pick one that has not been discussed yet), in the subject box put the account title you selected, then do the following 1. Assets, Liabilities, Owner's Equity, Revenues, and Expenses are the five categories (account types) that an account can be classified as. Which category is the account you selected included in? 2. The double-entry accounting system has specific rules for recording debits and credits based on the type of account. Describe how these rules apply to the account you selected. How is the account increased and how is it decreased? 3. The normal balance of an account can be either a debit or a credit depending on whether increases in the account are recorded as debits or credits. What is the normal balance of the account you selected? 4. Think of a transaction that your account would be used in. Do not copy an entry from the book. Describe and illustrate journalizing the transaction, in the proper journal entry format. Post your initial response, read all of the posts, and post two detailed replies to at least two other student's posts. Follow the minimum requirements for discussion board posts located in the general discussion area. Recall, those are the minimum requirements, more posts are always encouraged. Criterla Excellent Needs Improvement Inital 2 points 1 point 0 points post Detailed post answering all questions, free of grammatical and spelling errors Partially answered the questions, some grammatical or spelling crrors. Did not fully answer the questions using proper grammar, spelling, etc Reply #1 1 point 0.5 points 0 points No reply. Detailed reply, at least S sentences long, free of grammatical and spelling errors Reply was not at least 5 sentences long or had grammatical or spelling errors. Reply #2 1 point 0.S points 0 points Detailed reply, at least 5 sentences Long, free of grammatical and spelling errors Reply was not at least 5 sentences long or had grammatical or spelling errors No reply The category of the cash account is Assets. As an asset, cash is counted as a resource that a company owns which is to be used in business operations. The double-entry account system is used to record business transactions. The distinctive factor of this system is that it requires every transaction to have a debit and a credit. In other Words, it asks where does money come from and where does it go, based on the types of accounts involved. Accounts that increase on credit are owner's equity (Capital), liabilities, and revenue. Accounts that Increase on debit are assets, owner's equity (drawing), and expenses. Vice versa, accounts that decrease on credit are assets, owner's equity (drawing), and expenses. Accounts that decrease on debit are owner's equity (Capital), Liabilities, and revenue The normal balance of cash is debit. This account increases based on debit and decreases based on credit. The most simple way to illustrate this is using a T account chart. On a T account chart with the title of cash, all cash increases would be stated on the debit side and all cash decreases would be stated on the credit side. To obtain the balance of cash, credits are subtracted from debits (debit-credit-amount of cash). The final amount will be listed on the debit side. For example, on January 1st, Supplies are purchased in the amount of $200. In this example, supplies increase by $200 and cash decreases by $200. Supplies (assets) increase based on debit and cash decreases based on credit. Therefore, $200 would be debited to supplies and $200 would be credited to cash. Keeping in mind that in journals debits are recorded first, this transaction would be recorded as follows: Date Description Credit Debit Supplies $200 Cash $200

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