Unit 3
Mariah Smith, capital and Mariah Smith, Drawing are both classified as this.
What is Owner's Equity?
The transaction bought supplies on account would result in this journal entry.
What is debit supplies and credit accounts payable?
The transaction PAID CASH TO REPAIR OFFICE EQUIPMENT, $250.
What is Debit repair expense and credit cash?
The accounting equation.
What is Assets=Liabilities+Owner's Equity?
The source document for bought supplies on account would be this.
What is an invoice?
The correct journal entry for the transaction, RECEIVED CASH ON ACCOUNT FROM BURKE SUPPLY FOR, $800 is this.
What is debit cash and credit accounts receivable/Burke Supply?
Rent, the telephone bill, and advertising cost are classified as this.
What is expenses?
The journal entry for paid cash on account is this.
What is debit Accounts Payable and credit Cash?
Cash, office equipment, and prepaid insurance are classified as this.
What are assets?
The transaction received cash from owner as an investment would have this source document.
What is a receipt?
Accounts payable is classified as this.
What is liabilities?
The transaction received check from owner as an investment would result in this journal entry.
What is debit cash and credit owner's capital?