Question
The following is a list of accounts. For each transaction, fill in the appropriate letter corresponding to the account that would be debited or credited
The following is a list of accounts. For each transaction, fill in the appropriate letter corresponding to the account that would be debited or credited for each transaction and indicate whether Assets, Liabilities, Stockholders Equity, and Net Income are increased (+), decreased (-), or had no net effect (0).
a. Accounts Payable i. Inventory q. Notes Receivable
b. Accounts Receivable j. Service Revenue r. Notes Payable
c. Accumulated Depreciation k. Land s. Interest Revenue
d. Capital Stock l. Supplies t. Interest Expense
e. Cash m. Utilities Payable
f. Utilities Expense n. Retained Earnings
g. Depreciation Expense o. Unearned Revenue
h. Equipment p. Account not listed
Transactions | Debit | Credit | Assets | Liabilities | Equity | Income |
Bought equipment by issuing stock
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Received Cash in advance for Services to be performed |
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Performed services on account |
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Paid vendors for merchandise previously bought on account
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Accrued Deprecation Expense on Equipment |
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