During the month of january katelyn invested 11000 in

  • Ashworth College
  • EXAM 5
  • Test Prep
  • Yankee7903
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Question 32 of 402.5/ 2.5 PointsDuring the month of January, Katelyn invested $11,000 in starting her legal practice. The proper journal entry would be __________.A. Cash, debit $11,000; Katelyn's Capital, credit $11,000B. Accounts Payable, debit $11,000; Cash, credit $11,000C. Cash, debit $11,000; Revenue, credit $11,000D. Katelyn's Capital, debit $11,000; Cash, credit $11,000
Question 33 of 402.5/ 2.5 PointsBusiness transactions are first recorded in the __________.
Question 34 of 402.5/ 2.5 PointsA credit to an asset account was posted to a liability account. This would cause __________.
Question 35 of 402.5/ 2.5 PointsThe journal entry to record a withdrawal by the owner would most commonly include __________.
Question 36 of 402.5/ 2.5 PointsA journal entry affecting three or more accounts is called a __________.A. multi-level entryB. multi-step entryC. compound entryD. simple entry
Question 37 of 402.5 / 2.5 PointsA debit to a liability account was posted to an expense account. This would cause __________.
Question 38 of 402.5/ 2.5 PointsThe posting reference column in the ledger is __________.
Question 39 of 402.5/ 2.5 PointsThe entry to record the payment of office salaries would be __________.
Question 40 of 402.5/ 2.5 PointsRenzi's Volleyball Gym purchased equipment for $1,200. It made a down payment of $600 with the remainder on account. The journal entry to record this transaction is __________.A. Cash600Accounts Receivable600B. Accounts Payable600Cash600Equipment1,200C. Supplies1,200Cash600Accounts Payable600D. Equipment1,200Accounts Payable600Cash600

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