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.

Question

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.

Quizplus · Accepted Answer

The Answer of 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.

In the Columns Below,insert the Entry That Would Be Made