Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The chart of accounts for Corning Company includes the following: Account Name Account Number Cash 11 13 15 Accounts Receivable Prepaid Insurance Accounts Payable Unearned
The chart of accounts for Corning Company includes the following: Account Name Account Number Cash 11 13 15 Accounts Receivable Prepaid Insurance Accounts Payable Unearned Revenue 21 24 31 32 Corning, Capital Corning, Drawing Fees Earned Salaries Expense Rent Expense 41 54 56 Page 3 of the journal contains the following entry: Prepaid Insurance 1,530 Cash 1,530 What is the posting reference that will be found in the cash account? Oa. 15 Ob. 13 Oc. 3 O d. 11 The chart of accounts for Miguel Company includes the following: Account Name Account Number Cash 11 13 Accounts Receivable Prepaid Insurance Accounts Payable 15 21 Unearned Revenue 24 31 32 Miguel, Capital Miguel, Drawing Fees Earned Salaries Expense Rent Expense 41 54 56 Page 5 of the journal contains the following transaction: Salaries Expense 525 Cash 525 What is the posting reference that will be found in the salaries expense account? Oa. 21 Ob. 54 Oc. 5 Od. 11 May 23 Cash Scott Clark, Capital Invested cash in business. 22,000 22,000 This journal entry will Oa, increase Cash and increase Capital Ob. increase Capital and decrease Cash Oc. increase Cash and decrease Capital Od. decrease Cash and decrease Capital
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started