Chapter 2 ACC 101 – Flashcards
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Billed a customer for services performed, $3,800.
answer
Dr: Acc Receivable 3800
Cr: Service Revenue 3800
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Received partial payment from the customer billed on September 6, $1,800.
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Dr: Cash 1800
Cr:Acc Receivable 1800
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The office equip Jane ordered on June 10 arrives. Payment is not due until August 1.
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Recorded
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Abril receives its utility bill for the month of March is not due until April 9.
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Recorded
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Abril receives notice that its rent will increase from $1000 to $1300, per month effective March 1.
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Not recorded
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Paid for supplies purchased on credit last month
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Dr: Acc payable
Cr: Cash
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Received cash from customers billed last month
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Dr: Cash
Cr: Acc receivable
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Made a payment on accounts payable
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Dr: Acc Payable
Cr: Cash
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Purchased supplies on credit
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Dr: Supplies
Cr: Acc Payable
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Billed a client for repair services
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Dr:Acc Receivable
Cr:Repairs services revenue
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Made a rent payment for the current month
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Dr: Rent Expense
Cr:Cash
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Received Cash from customers for repair services not yet billed
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Dr:Cash
Cr:Repair service revenue
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Paid employee wages
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Dr:Wages expense
Cr:Cash
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Ordered Equipment
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no entry
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Received and paid for the equipment ordered in i.
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Dr: Equipment
Cr:Cash
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Declared and paid a dividend
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Dr:Dividends
Cr:Cash
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Made a payment to reduce the principal of the note payable
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Dr: Notes payable
Cr:Cash
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Paid for repairs with cash
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Dr: Repair Expense
Cr: Cash
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Received an order for services to be performed
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no entry
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Paid the bill received in B.
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Dr: Acc payable
Cr. Cash
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Received payments from customers previously billed
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Dr:Cash
Cr:Acc Receivable
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Returned part of the equipment purchased in f for a credit.
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Dr: Acc payable
Cr: Equipment
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Billed customers for services performed
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Dr: Accounts Receivable
Cr: Service Revenue
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Purchased equipment on account
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Dr:Equipment
Cr:Acc payable
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Received cash from customers for services performed but not yet billed
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Dr. Cash
Cr.Service revenue
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purchased supplies on credit
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Dr: Supplies
Cr:Acc payable
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paid the current months rent
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Dr: rent expense
Cr: cash
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received a bill for repairs
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Dr:repair expense
Cr: Acc payable
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paid for supplies purchased on credit last month
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Dr: acc payable
cr: cash
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Which of these sets of accounts are affected by the following transaction?
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equipment account and notes payable account
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a video camera is purchased for $9000
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does not change the total assets balance
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which of these are NOT true about the transactions and accounting equation?
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every transaction affects only two accounts
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which of these are NOT truee?
a receipt of 3500 for a service provided on account?
answer
increases retained earnings under equity by 3500
