Take me to the text For the following transactions, fill in the table by selecting the two accounts related to each transaction. For each transaction, two accounts are affected. List balance sheet accounts before income statement accounts. If both accounts are balance sheet accounts, list them in the order they appear on a balance sheet prepared under ASPE. For example, if the transaction impacts the cash account, cash would always appear first. Please select the appropriate choice based on the above instructions Balance sheet accounts should be listed Answer income statement accounts. If the cash account is impacted, it should appear Answer. Transaction Account 1 Account 2 Invested cash in the business. Answer Answer Purchased service automobile for business use. Answer Answer Collected cash for services provided today. Answer Answer Provided services this week on credit. Answer Answer Paid operating expenses in cash. Answer Answer Received a bill for operating expenses incurred this week. Answer Answer Received a loan from the bank. Answer Answer Collected cash from a customer for services provided previously. Answer Answer Paid monthly salaries to employees with cash. Answer Answer Incurred operating expenses this week, to be paid next month. Answer Answer Paid cash for expenses incurred previously. Answer Answer Received cash in advance for the service to be provided next month. Answer Answer Check
Take me to the text For the following transactions, fill in the table by selecting the two accounts related to each transaction. For each transaction, two accounts are affected. List balance sheet accounts before income statement accounts. If both accounts are balance sheet accounts, list them in the order they appear on a balance sheet prepared under ASPE. For example, if the transaction impacts the cash account, cash would always appear first. Please select the appropriate choice based on the above instructions Balance sheet accounts should be listed Answer income statement accounts. If the cash account is impacted, it should appear Answer. Transaction Account 1 Account 2 Invested cash in the business. Answer Answer Purchased service automobile for business use. Answer Answer Collected cash for services provided today. Answer Answer Provided services this week on credit. Answer Answer Paid operating expenses in cash. Answer Answer Received a bill for operating expenses incurred this week. Answer Answer Received a loan from the bank. Answer Answer Collected cash from a customer for services provided previously. Answer Answer Paid monthly salaries to employees with cash. Answer Answer Incurred operating expenses this week, to be paid next month. Answer Answer Paid cash for expenses incurred previously. Answer Answer Received cash in advance for the service to be provided next month. Answer Answer Check
Related questions
For each item described: Identify the type of account (Asset,Liability, Equity, Revenue or Gain, Expense or Loss), normalbalance (Debit, Credit), financial statement (Balance Sheet, IncomeStatement), and whether the account is closed at the end of theperiod (Yes, No) by selecting the letter that best describes thoseattributes. If an account is a contra account, the answer will showthe account type in parentheses. Answer items may beused once, more than once, or not at all.
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