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please answer all questions, thank you Joseph Forbes is the owner of his own business. On Deocmber 31, Forbes' assets, linbilities revenues and expenses were:
please answer all questions, thank you Joseph Forbes is the owner of his own business. On Deocmber 31, Forbes' assets, linbilities revenues and expenses were: Insurance Expenses $3,000 Accounts Payable $ 4,000 Miscellancous Expenses 900 Accounts Receivable 5,000 Rent Expenses 2,500 Cash 14,000 Salaries Expense 19,000 Equipment 11,000 Supplies Expense 1,200 Notes Payable 4,600 Services Performed 45,000 Supplies on hand 7001 15. Current Landscaping paid salaries of $560 in cash. The accounting entry is: a. Debit salaries expense $560; credit salaries payable $560 Debit salaries expense $560; credit cash $560 Debit cash $560; credit salaries expense S560 Debit accounts payable $S60, credit cash $560 none of the above 16. The Philip Company received a bill for natural gas. The bill is for $550 and is payable in 30 days. The accounting entry is: a. b. C. d. c. Debit accounts receivable $550; credit service revenue $550 Debit accounts payable $550; credit cash $550 Debit natural gas expense $550; credit accounts payable $550 Debit natural gas expense $550; credit cash $550 none of the above 17. The following includes the accounts of the Perry Company on December 31. What is the total on the trial balance? Accounts Receivable Cash Equipment Salaries Expense Revenue Eamed Rent Expense $1,000 4,500 4,000 1,600 2,800 200 Supplies Expense Drawing Account Advertising Expense Accounts Payable Capital Account 250 3.00 SO 3,050 6,050 a. b. $11.900 & $12,000. $9,100 $11,600 none of the above
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