Accounting 101
Received cash from owner as an investment
Debit Cash
Credit Capital
Paid cash on account.
What is Debit Accounts Payable and Credit Cash
Received cash from sales
What is Debit Cash and Credit Sales?
Five steps for posting an amount
What is 1) write the date 2) write the journal reference 3) write the debit or credit 4) figure the balance 5) put in the post reference number?
When a business buys a computer with cash, its cash ______, but its computer equipment ________
What decreases and increases?
Paid cash for supplies.
Debit Supplies
Credit Cash
Received cash from sales.
What are Debit cash, credit Sales?
Paid cash for miscellaneous expense.
What is Debit Misc. expense, credit cash?
The cash account for Delgado Web Services Account Number
What is 110?
Determining that the amount of cash agrees with the balance of the cash account.
What is proving cash?
Paid cash for rent
What is Credit Cash
Debit Rent Expense
Sold services on Account.
What is Debit Accounts Receivable, Credit Sales.
Paid cash to owner as a withdrawal of equity for personal use.
What is Debit Drawing, credit Cash?
Received cash on account.
What is Debit Cash, Credit Accounts Receivable?
The asset division of accounts for Delgado Web Services are numbered starting with _______
What are 100s?
Bought Supplies on Account
What is Debit Supplies, Credit Accounts Payable?
Paid cash for insurance.
What is Debit Prepaid Insurance and Credit Cash?
Sold Services on Account
What is Debit Accounts Receivable, Credit Sales?
A group of accounts
What is a ledger?
When cash is received on account, what increases and decreases.
What is Cash increases, Accounts Receivable decreases?
Paid Cash for electric bill
What is Debit Utilities Expense and Credit Cash?
What is Debit Repair Expense and credit Cash?
Two steps for opening an account
What is Write the account title and enter the account number?
Writing an account title and number on the heading of an account
What is opening an account?
A form ordering a bank to pay cash from a bank account.
What is a check?