Essay
In the columns below,insert the entry that would be made for each transaction under each accounting basis,using appropriate debit and credit account titles.
1. Performed services on account.
2. Supplies are partly used.
3. Purchased one-year insurance policy for cash.
4. Received bill for electricity.
5. Depreciation on equipment.
6. Purchased equipment on account.
7. Paid cash for wages.
8. Paid for equipment purchased on account.
9. Performed services for cash.
10. Paid cash for new equipment.
Correct Answer:

Verified
Correct Answer:
Verified
Q22: When an individual entry is posted from
Q23: Under the modified cash basis of accounting,no
Q24: A journal with Debit and Credit columns
Q25: If a business records revenues when earned,regardless
Q26: Posting from the combination journal to the
Q28: Match the terms with the definitions.<br>-A journal
Q29: Professional service business enterprises include attorneys,physicians,dentists,public accountants,artists,and
Q30: In the columns below,insert the entry that
Q31: More time is required if a journal
Q32: The end-of-period work sheet is used to