Essay
Drew Castle is an insurance appraiser.Shown below are (a)several accounts in his ledger with each account preceded by an identification number,and (b)several transactions completed by Castle.Indicate the accounts debited and credited when recording each transaction by placing the proper account identification numbers to the right of each transaction.
1.Accounts Payable 8.Office Supplies Expense
2.Accounts Receivable 9.Prepaid Insurance
3.Appraisal Fees Earned 10.Salaries Expense
4.Cash 11.Telephone Expense
5.Insurance Expense 12.Unearned Appraisal Fees
6.Office Equipment 13.Common Stock
7.Office Supplies 14.Dividends
Correct Answer:
Verified
Correct Answer:
Verified
Q34: Items such as sales tickets, bank statements,
Q89: Expenses always decrease equity.
Q113: The heading on every financial statement lists
Q149: While in the process of posting from
Q160: While companies can use various journals,every company
Q161: For each of the following accounts,identify whether
Q162: Paul's Landscaping purchased $500 of office supplies
Q168: Dividends distributed to stockholders should be treated
Q170: Identify the statement below that is incorrect.<br>A)The
Q233: The four categories of equity accounts are