Question

In: Accounting

What would be the correct Debit Account and Credit Account for the following? Pay cash for...

What would be the correct Debit Account and Credit Account for the following?

Pay cash for delivery van:

Covert a Long-term liability into common stock

Declared a cash dividend

Paid Cash Dividends

Received cash for services performed

Pay off Short-term liability

Purchase office equipment, giving a percentage promissory note

Disbursed Salaries and Wages

Invest Cash in Exchange for Common stock

Purchased equipment by signing a 3-month 12%, note payable

Receives cash in advance for service TO BE Performed

Pays Rent

Preforms services and no yet paid

Depreciation

Expert Solution

Pay cash for delivery van

delivery van	-
To Cash		-

Covert a Long-term liability into common stock

Long-term liability	-
To common stock		-

Declared a cash dividend

Retained Earnings	-
To Dividend payable		-

Paid Cash Dividends

Dividend payable	-
To Cash		-

Received cash for services performed

Cash	-
To Service revenue		-

Pay off Short-term liability

Short-term liability	-
To Cash		-

Purchase office equipment, giving a percentage promissory note

office equipment	-
To Notes payable		-

Disbursed Salaries and Wages

Salaries and Wages	-
To Cash		-

Invest Cash in Exchange for Common stock

Cash	-
To Common stock		-

Purchased equipment by signing a 3-month 12%, note payable

equipment	-
To note payable		-

Receives cash in advance for service TO BE Performed

Cash	-
To Unearned revenue		-

Pays Rent

Rent expense	-
To cash		-

Preforms services and no yet paid

Accounts receivable	-
To service revenue		-

Depreciation

Depreciation expense	-
To Accumulated Depreciation		-

ekkarill92 answered 1 year ago

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