FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

need quick help The Fast Company purchases Equipment for $12,000 on account. The proper journal entry for this transaction would be: Accounts payable 12.000 Dr

need quick help image text in transcribed
The Fast Company purchases Equipment for $12,000 on account. The proper journal entry for this transaction would be: Accounts payable 12.000 Dr & Equipment 12,000 Cr. Equipment 12,000 Dr. & Accounts payable 12,000 Cr. OB Equipment 12,000 Dr. & Cash 12,000 Cr. OC Cash 12,000 Dr. & Equipment 12,000 Cr. OD

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Only Audit What Matters 12 Weeks To Using Agile Audit To Focus On The Right Risks At The Right Time

Only Audit What Matters 12 Weeks To Using Agile Audit To Focus On The Right Risks At The Right Time

Authors: Toby DeRoche

1st Edition

B0BT7HS2BX, 979-8366397100

More Books

Students also viewed these Accounting questions

Question

★★★★★
With reference to Exercise 2.15, the data for the Eyes Elevated condition are Using Y for this variable, (a) What are Y1 and Y10? (b) Calculate Y. 1.73 1.06 2.03 1.40 0.95 1.13 14 1.73 1.63 156

Answered: 1 week ago

Question

★★★★★
Can you please help me understand why Liquidity is the correct answer? Higher returns of equity hedge funds as compared to the S&P 5 0 0 Index reflect positive compensation for _ _ _ _ _ _ _ _ _ _...

Answered: 1 week ago

Question

★★★★★
Behavioral epigenetics is an emerging field of research that seeks to understand relationships between epigenetic structures and psychological traits or disorders.

Answered: 1 week ago

Question

★★★★★
In a recent balance sheet, Microsoft Corporation reported Property, Plant, and Equipment of $15,082 million and Accumulated Depreciation of $7,547 million. a. What was the book value of the fixed...

Answered: 1 week ago

Question

★★★★★
4 . Isotropic materials have the same............. in all directions. A . Induced stresses B . Density C . Elastic properties D . Thermal properties

Answered: 1 week ago

Question

★★★★★
A research engineer mounts a camera on a ground robot. She drove the robot on a flat planar ground while the camera captures two images I and I' with overlapping field-of- view at two different...

Answered: 1 week ago

Question

★★★★★
001 (part 1 of 3) 10.0 points The scale on the horizontal axis is 3 s per divi- sion and on the vertical axis 3 m per division. 5 position (x 3 m) 0 1 23 4 5 6 7 time (x 3 s) What is the time...

Answered: 1 week ago

Question

★★★★★
Sandeep Parikh purchased a variable life ( VL ) insurance policy from the Homerun Insurance Company. Assuming Mr . Parikh's policy is a typical VL policy, it is correct to say that the subaccount...

Answered: 1 week ago

Question

★★★★★
Calculate mean, median, standard deviation, minimum, maximum, and counts (n) for all variables in the POS Associates data set that are appropriate (i.e., that are quantitative variables or are...

Answered: 1 week ago

Question

★★★★★
Demetri lives in the city and sometimes uses a ride share service. A ride costs $1.50 for the first mile and $0.25 for each additional mile. Demetri does not want to spend more than $3.75 on a ride....

Answered: 1 week ago

Question

★★★★★
Required information Exercise 12-12 (Algo) Indirect: Preparing statement of cash flows LO P2, P3, A1 [The following information applies to the questions displayed below.] The following financial...

Answered: 1 week ago

Question

★★★★★
Based on your work or school experience, discuss how roles or status have influenced the way in which people communicated. (Objective 3)

Answered: 1 week ago

Question

★★★★★
Why do organizations value both internal and external communication?

Answered: 1 week ago

Question

★★★★★
Compose a variety of follow-up letters and other employment related messages.

Answered: 1 week ago

Previous Question Next Question