Purchased office furniture on account $300

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August undefined, 2024

WebCorrect option is A) Cash purchases are recorded in the Cash Book. Other purchases such as purchases of office equipment, furniture, building, are recorded in the journal proper if purchased on credit or in the cash book if purchased for cash. On account is an accounting term that denotes the furniture or asset or service is purchased on credit. WebA company purchased $500 of office furniture on account. Prepare the general journal entry to record this transaction. A company purchased $1,800 of office furniture on account. …

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WebFeb 21, 2024 · Earned video rental revenue on account, $2,800. C. Purchased office furniture on account, $300. 6/5/20 Accounting 1 Assignment 1.1 Handout 2024 Pearson Education … WebExpert Answer. Debit Credit Nov 3 Office Furniture 8000 Accounts Payabl …. Record the following transactions as journal entries. Purchased office furniture for $8,000 on account Date Accounts and Explanation Debit Credit Nov. 3 Purchase a $9,000 building with note Date Accounts and Explanation Debit Credit Nov. 4 Paid $7,000 cash for salaries ... immediate and contributory causes

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WebEarned video rental revenue on account, $2,800. c. Purchased office furniture on account, $300. d. Received cash on account, $400. e. Paid cash on account, $100. f. Rented videos and received cash of $200. g. Paid monthly office rent of $1,000. h. Paid $100 cash to purchase office supplies. Use the following information to answer Exercises E2 ... WebUpon payment of goods purchased in Cash, cash balance reduces, therefore the asset account is credited according to the Rules of Debit and Credit. So Cash A/c would be credited, as a reduction in an Asset account is credited. Hence the entry would be : –. Purchases A/c Dr. 10,000. To Cash A/c 10,000. WebAnswer: Increase asset (Cash); Increase equity (Common Stock) b. Earned video rental revenue on account, $2,800. c. Purchased office furniture on account, $300. d. Received … immediate anchor 5e

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WebPaid monthly office rent of $1,000. n. Paid $100 cash to purchase office supplies. b. Earned video rental revenue on account, $2,800. c. Purchased office furniture on account, $300. … WebStudy with Quizlet and memorize flashcards containing terms like Earned Video Rental Revenue on account 1,800, Purchased Office Furniture, Received cash on account and … immediate and deferred annuity definitionWebPurchased office furniture on account: Account #1: Account Type: Increase/Decrease: Debit/Credit: Office Furniture: Asset Account: Increase: Debit: Account #2: ... Purchased $1,200 of office equipment on credit Purchased $300 of office supplies on credit Completed work for a client and immediately received a payment of $900 cash Completed work ... list of simile and metaphors

"WebResponsible for sales portfolio of accounts totaling $5.8 million, completed 2013 year end goal at 110%. Client base consisted of healthcare, corporate, and education. " - Purchased office furniture on account $300

Purchased office furniture on account $300

Purchase of Equipment Journal Entry (Plus Examples) - Patriot Software

WebOct 4, 2024 · This purchase office supplies on account journal entry is one of many examples used in double entry bookkeeping, discover another at the links below. Opening … Supplies Expense. At the end of the accounting period, the supplies on hand … Account Debit Credit; Rent expense: 1,000: Cash: 1,000: Total: 1,000: 1,000: The … In this case, the asset of inventory has been decreased by a 1,000 and an expense of … In this example, the Inventory account shows a debit balance of 1,000 and the … Free online accounting templates and forms to help with business … About the Author. Chartered accountant Michael Brown is the founder and CEO of … WebPurchased office supplies on account, $300. b. Completed work for a client on credit, $500. c. Paid cash for the office supplies purchased in (a). d. Completed work for a client and; A …

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WebPaid cash on account. Decrease Asset (cash) decrease liability (accounts payable) Rented videos and received cash. Increase Asset (Cash) increase equity (Rental Revenue) Paid monthly office rent. Decrease Asset (Cash) decrease equity (rent expense) Paid 200 cash to purchase office supplies. Decrease asset (Cash) increase asset (office supplies) WebOct 27, 2024 · A credit to Accounts Payable: +$300; A debit to Cash: -$200 ; ... In other words, the purchased office equipment on account causes both sides of the equation balance out. References.

WebExpert Answer. GENERAL JOURNAL ENTRIES For each of the following transactions, list th account to be debited and the account to be credited in the general 1. Invested cash in the business, $5,000. 2. Paid office rent, $500. 3. Purchased office supplies on account, $300 4. Received cash for services rendered (fees $400. WebReceived cash of $10,000 from owner and gave capital b. Earned video rental revenue on account, $2,800. c. Purchased office furniture on account, $300 d. Received cash on …

WebJun 4, 2024 · 1. Asset purchase. When you first purchase new equipment, you need to debit the specific equipment (i.e., asset) account. And, credit the account you pay for the asset … WebJun 4, 2024 · 1. Asset purchase. When you first purchase new equipment, you need to debit the specific equipment (i.e., asset) account. And, credit the account you pay for the asset from. Let’s say you buy $10,000 worth of computers and pay in cash. Debit your Computers account $10,000 and credit your Cash account $10,000.

WebA company purchased $1,800 of office furniture on account. Prepare the general journal entry to record this transaction. A company purchased $500 of office furniture on account. Prepare the general journal entry to record this transaction. A company received $3,000 cash from clients previously billed.

WebA company purchased $1,800 of office furniture on account. Prepare the general journal entry to record this transaction. A company purchased $500 of office furniture on … immediate and extended family meansWebMay 18, 2024 · Office supplies expenses include items such as staples, paper, ink, pen and pencils, paper clips, binders, file folders, and markers. All of these items are 100% consumable, meaning that they’re ... immediate and long term effects of alcoholWebSep. 1 Received $48,000 cash and issued common stock to Sikes. 4 Purchased office supplies, $600, and furniture, $1,700, on account. 6 Performed services for a law firm and received $2,000 cash. 7 Paid $25,000 cash to acquire land to be used in operations immediate and acute toxicity symbolWeb4 Purchased office furniture on account, $4,200. The furniture should last for five years. 5 Purchased office supplies on account, $900. 9 Performed consulting service for a client … list of silver star winnersWebA company purchased $500 of office furniture on account. Prepare the general journal entry to record this transaction. A company purchased $1,800 of office furniture on account. Prepare the general journal entry to record this transaction. A company paid $300 cash for supplies that were previously purchased on credit. immediate and direct addressing immediate and long term effects of smokingWeb4 Purchased office furniture on account, $4,200. The furniture should last for five years. 5 Purchased office supplies on account, $900. 9 Performed consulting service for a dient … list of similar sounding words