Which Accounts are Affected by these Transactions?

accounting studentQ: Which accounts are affected in each of the following transactions?


April 3 Purchased office supplies on account, $300.

April 4 Received prepayment for restoration services, $2,000.

April 15 Paid in full for office supplies purchased on April 3.

April 18 Billed customer for restoration work completed on April 17, $3,000.

April 29 Received utility bill for the month of April, due on May 15, $250.

A: April 3 Office supplies, creditors
April 4 Bank/cash, prepayment account (creditor)
April 15 Cash, creditors
April 18 Debtors, income (services rendered)
April 29 Utility bill (expense), creditors

Comments for Which Accounts are Affected by these Transactions?

Click here to add your own comments

Eli
by: Anonymous

1. supplies dr 300
A/p cr 300

2 cash dr 2000
Unearned revenue 2000

3. A/p dr 300
cash cr 300

4 unearned revenue dr 2000
A/R dr 1000
sales/revenue 3000

5 April - utility exp dr 250
a/P. cr. 250
may - A/P dr. 250
Cash cr 250

Click here to add your own comments

Return to Ask a Question About This Lesson!.






Enjoying this Website?
Help Support it with a Donation

OR...





Advertise on ventoup.ru

privacy policy




Related pages


prepaid rent debit or creditcreditors reconciliation examplewyzant tutoring addresshow to calculate vat in indiaaccounting basic quizhire purchase accounting double entrymethods of inventory valuation with examplescash flow basicsrevenue expenditure definition examplebad debt expense definitiondebit and credit entriesmanufacturing account in tallydrawings accounting definitionhindi meaning of owessundry accounting definitionexamples of ledger entries for accountingjournal entry for accrued incomewhich of the following is the accounting equationaccounting cycle for dummiesjournal entry to record impairment losscash flow formulastemplate balance sheet and income statementperpetual inventory system journal entryperiodic and perpetualhow to compute gross profitweighted average inventory calculationsteps to the accounting cyclehow to calculate manufacturing overhead costscashflow samplediscount allowed in income statementelements of the accounting equationfirst step in the accounting cyclejournal entry for cash received in advancesundry receivables definitiondouble entry accounting principleshow to calculate vat on grosscash flow statement template indirect methodassets minus liabilities equals equityproveit test answersbank recon sampleformula for stockholders equitybasic maths test for interviewjournal entry for interest expensehow to prepare indirect cash flow statementdrawing account normal balancedefine markup percentagedifference between debit and credit accountingbalance sheet solved examplesmeaning of debit in accounting termscreditor definition in accountingdirect material cost formulaperpetual inventory system and a periodic inventory systemcash outflowcreditors vs debtorsdepartmental income statementfactory overhead cost formulamarkup price calculatorintro to accounting quizhow to calculate cash generated from operationsjournal entry for accrued revenuehow to minus vatadvances from customers journal entryweighted average periodic inventory methodsales tax payable journal entryjournal entry for issuing sharesbest accounting booktotal owners equity formulacash disbursement journal definitionsynonyms for revenueaccounts tutorial for beginnerscash flow statement inflow and outflowsolved problems on balance sheetallowance for doubtful debtshow to subtract percentages from pricesgp gross profitpurchased supplies on account journal entryformat of comparative balance sheet