Identify which account would be debited and credited to record each transaction occurred at Forever Green Lawn Service. The first transaction has been completed as an example. Transactions Debit Credit Ex. Issued a check for monthly rent. Rent Expense Cash 1. Purchased supplies on account. Supplies Accounts Payable 2. Purchased new equipment, issuing a check for a down payment, with balance due in thirty days. Equipment Cash, Accounts Payable 3. Provided services on account. Accounts Receivable Fees Income 4. Purchase supplies for cash. Supplies Cash 5. Issued a check to pay a creditor on account. Accounts Payable Cash 6. Collected payment from credit customer. Cash Accounts Receivable 7. Issued checks to pay employees their monthly salaries. Salaries Expense Cash 8. Performed services for cash. Accounts Receivable Fees Income 9. Received cash for damaged supplies returned. Cash Supplies 10. Issued a check to pay the telephone bill.

Answers

Answer 1

Answer:

Forever Green Lawn Service

1. Purchased supplies on account.    

Supplies         Debit  

Accounts Payable   Credit

2. Purchased new equipment, issuing a check for a down payment, with balance due in thirty days.                

Equipment     Debit

Cash, Accounts Payable Credit

3. Provided services on account.      

Accounts Receivable    Debit

Fees Income    Credit

4. Purchase supplies for cash.          

Supplies          Debit

Cash     Credit

5. Issued a check to pay a creditor on account.

Accounts Payable    Debit

Cash    Credit

6. Collected payment from credit customer.

Cash   Debit

Accounts Receivable Credit

7. Issued checks to pay employees their monthly salaries.

Salaries Expense   Debit

Cash   Credit

8. Performed services for cash.

Accounts Receivable    Debit

Fees Income   Credit

9. Received cash for damaged supplies returned.

Cash    Debit

Supplies    Credit

10. Issued a check to pay the telephone bill.  

Telephone Expense  Debit

Cash   Credit

Explanation:

Every business transaction  at Forever Green Lawn Service involves two or more accounts.  One or two are debited or credited as the case may be.  The general journal is used to record transactions as they occur while the general ledger records details about each account and summarizes the balances at the end of each accounting period into the trial balance.  Accounting records are based on the double-entry system and follow the accounting equation of Assets = Liabilities + Equity.


Related Questions

Dr. Peabody paid $213 for repairs to his dental equipment. Which of the following statements is true?
A. Cash is debited $213; repairs and maintenance expense is credited $213.
B. Cash is credited $213; repairs and maintenance expense is credited $213.
C. Cash is debited $213; repairs and maintenance expense is debited $213.
D. Cash is credited $213; repairs and maintenance expense is debited $213.

Answers

Answer:

D. Cash is credited $213; repairs and maintenance expense is debited $213.

Explanation:

In double-entry accounting, transactions that reduce assets such as cash are credited while those that increase assets are debited.

By paying for repairs services, the amount of cash at hand reduces by $213. Because cash is an asset, the cash account will be credited( reduced)  by $213.

Repairs and maintenance expense account is an expense account as the name suggest. As a rule, transactions that increase expenses are debited. In this case, Mr. Peabody will debit( increase) the repairs and maintenance account by $213.

Marit Brunsell deposited $50,000 at Bank of America at 8% interest compound quarterly. What is the effective rate (APY) to the nearest hundredth percent?

Answers

Answer:

EAR = 8.24%

Explanation:

EAR = (1+APR/n)^n-1

Where  n is number of compounding per year = 4

EAR = (1+8%/4)^4 - 1

EAR = (1 + 0.02)^4

EAR = (1.02)^4

EAR = 1.08243216 - 1

EAR = 0.08243216

EAR = 8.24%

*MUST BE AMBITIOUS OR BELOW FOR BRAINLIEST*
Free 100 points but pls be Ambitious or below.

Answers

Answer:

thanks I am ambitious

Explanation:

Answer:

Explanation:

I am Ambitious, Thank You.

Un mito de 2 parrafos con su dibujo sobre los habitos saludables que debemos asumir para estar sanos, y tengo que colocar todos los pronombres personales

Answers

En la madrugada del martes pude ver una escena curiosa, pero muy ennoblecedora que cambió por completo mi percepción del universo. No pude dormir y decidí salir a caminar por la casa de mi familia, tal vez un poco de aire fresco y en medio de la naturaleza me vendría bien. Me puse un abrigo y me fui. Hacía frío, casi helado, pero era agradable. En medio de mi caminata miré a mi alrededor y vi una luz verde que venía de la región donde habíamos plantado un huerto. Corrí hasta allí y me asombré cuando vi que de las lechugas salían pequeñas hadas brillantes. Me acerqué para escuchar lo que decían.

La primera hada dijo: "¡Oh! Pensé que nunca saldríamos a tiempo. Chicas, tenemos que encantar estas verduras antes de que los humanos se despierten. Sabes que estas verduras necesitan estar bien nutridas para que los humanos sean fuertes y saludables. nosotros vamos a organizar el trabajo. Tú, Juanita, traes todos los nutrientes del caldo. Mientras ella hace esto, le daremos brillo a las hojas para que las verduras sean muy bonitas, para atraer a los humanos. ¡No tenemos tiempo que perder! "

Las hadas empezaron a trabajar a una velocidad impresionante. Cuando terminaron su trabajo, desaparecieron como por arte de magia. Regresé a mi habitación con la sensación de que debía honrar el trabajo de las hadas, comiendo las verduras que tanto trabajaron para estar saludables.

Which of the following elements are included on the hierarchy of hazard control?
Select all that apply.

Implementing engineering controls


Eliminating hazards


Substituting hazards


Implementing administrative controls


Selecting and using PPE

Answers

The components that are included in the hierarchy of hazard control would be:

A). Implementing engineering controls

B). Eliminating hazards

C). Substituting hazards

D). Implementing administrative controls

E). Selecting and using PPE

The hierarchy of hazard control consists of five steps:

Elimination.Substitution.Engineering controls.Administrative controls.Personal Protective Equipment.

As per the question, all the given components are included in the various levels of hazard control.

The elimination stage aims to remove all the potential hazards while substitution involves replacing the threats with a safer alternate. While engineering controls and PPE refer to the administration of protective layers for safeguarding the workers from any dangers. The administrative controls involve alteration in the process for work, training, supervision, etc. so that the dangers can be minimized.

Learn more about 'Hierarchy of hazard control' here:

brainly.com/question/10328303

hi ik someone is going to report but i just want to say hi

Answers

Hiiiiiiii how are you today? :)

Lol, mood. Hi! I am literally so bored to. Anyways hope you have a good day!

:) :) :)

When Christina looked at the tag on the dress she just purchase, she noticed it said "Made in Korea". By purchasing this dress, Christina is participating in the global economy.

Answers

Answer:

True

Explanation:

From the question, We are informed that when Christina looked at the tag on the dress she just purchase, she noticed it said "Made in Korea". By purchasing this dress,

In this case Christina is participating in the global economy. Global economy can as well be regarded as "world economy" which is an economic system where there is economic activities between different nation and within nations . Economic activities could be in term of production, exchange of financial values as well as consumptions, trading of various goods among nations.

Answer:

i think its true

Explanation:

im sorry if im wrong

Let's take a look at precipitation over the course of a year in High Springs ( a small town north of Gainesville, near the Sante Fe River). (Please note that they start the year at O - October.) Which statement best describes the center for the boxplots?

Answers

Answer:

- The medians for the summer months of June, July, August, and September are higher than for the other months.

Explanation:

The statement prescribing 'the medians within the months of summer June, July, August, and September are higher in comparison for the other months' correctly describes the halfway for the boxplots. This displays that the precipitation during these months due were higher due to the high temperature and intense water cycle.

Which type of money does the diagram best describe?
? Money
Has value because of its materials
Has been common throughout history
Includes gold and silver coins
A. M1
B. Fiat
C. Representative
D. Commodity

Answers

The type of money described in the question is known as commodity money.

What is commodity money?

Money is anything that is generally accepted for the exchange of goods and services and for the repayment of debt. Commodity money is a type of money that has value in itself. Examples of commodity money is gold and silver.

To learn more about commodity money, please check: https://brainly.com/question/1023092

#SPJ1

Answer: commodity

just took the test

A currency fixture is

Answers

Answer:

The currency fixture is referring to the foreign exchange rates, that are set in London every day at 4 PM.

Explanation:

These are known as benchmark rates and are determined related to the real transactions, that traders were conducting on the market in 60 seconds.

The rates for 21 currencies are determined on the medium level of all the trades that go through in this one minute.

I need help!!!! Someone please lemme know what I need to do!!!!

Answers

Answer:

Ok so first, you can do by taking to mortgage. ex : 146,800.00 multiply by 30, then you have your answer, then vise versa .. Hope this helped.

Explanation:

One helpful feature of most Web 2.0 organization software is that
a. It requires one particular Internet browser
b. It is usually downloaded to a computer hard drive
c. It has a complex user interface
d. It can usually be synced to a handheld device
Please select the best answer from the choices provided
Ο Α
B
С

Answers

Answer:

d. It can usually be synced to a handheld device

Explanation:

One helpful feature of most Web 2.0 organization software is that it can usually be synced to a handheld device.

Answer:

D or 4

Explanation:

d.It can usually be synced to a handheld devicethe rest are incorrect!

a.

It requires one particular Internet browser

b.

It is usually downloaded to a computer hard drive

c.

It has a complex user interface

sub to Pen Paper

A Trustworthy Source is credible, reliable & relevant.

True
False

Answers

Answer: True

Explanation:

write me a 8 sentence pitch or more for a donut shop

Answers

Answer:

come down to our donut shop. please come down and get some donuts. we sell the best donuts here. thank you for your consideration.

we hope you enjoy our donuts.

Explanation:

haha

A Venture Capital Analyst gives money to new companies, so they can have
ownership of that company.

True or false

Answers

Answer:

False

Explanation:

Venture partners only tend to be compensated via carry interest, which is a percentage of the returns that funds make once they cash out of investment opportunities. Thus, they help no ownership whatsoever.

if the price level is set at 35 margin points, what percentage will be earned on each unit sold?

Answers

Answer: 35%

Explanation:

Margin points are the amount above cost price that a good is being sold for and each point represents a percentage. If it is said that a good is being sold at 35 margin points, it means that it is being sold at 35% above the cost price of the good.

For instance, if a good cost $40 to purchase and you want to sell it at 35 margin points, your selling price is;

= 40 * ( 1 + 35%)

= $54

What are the functions and duties of a commission agent?

Answers

A commission agent works for businesses of all sizes as a middleman between companies and vendors. A person in this role can work in many industries, from real estate to sales and entertainment, and in many parts of the world. A commission agent can also work for more than one business at a time.

which of these is an example of separation of powers?

the president enforces a law passed by congress.
representatives hold hearings to hear public opinion.
representatives rewrite a bill in committee meetings.
the president fires a cabinet member who is performing poorly.

Answers

I would say The president  enforcing a law passed by Congress is an example of separation of powers.

What will happen if the price of one of the resources used to produce a good increases? a. The demand curve for that good will shift to the left. b. The demand curve for that good will shift to the right. c. The supply curve for that good will shift to the left. d. The supply curve for that good will shift to the right.

Answers

Answer:

. The supply curve for that good will shift to the left.

Explanation:

A shift in the supply curve arises when suppliers increase or decrease production. A shift in the supply curve is a result of a change in supply. An increase in supply results in the supply curve shifting to the right, While a decrease makes it shift to the left.

Factors that cause suppliers to reduce production makes the supply curve to shift to the left or inwards. Examples of such factors include an increase in taxation, civil unrest, or changes in technology.

An increase in the price of raw material will make production more challenging for suppliers. The output from suppliers will decrease, causing the supply curve to shift to the left.

When the price is $12 the quantity demanded is 50. When the price increases to $24 the quantity demanded decreases to 30. Calculate the price elasticity of demand.

Answers

Answer:

PED = -0.4 or |0.4| in absolute terms

Explanation:

price elasticity of demand (PED) = % change in quantity demanded / % change in price

% change in quantity demanded = [(30 - 50) / 50] x 100 = -40%% change in price = [($24 - $12) / $12] x 100 = 100%

PED = -40% / 100% = -0.4 or |0.4| in absolute terms

the demand is price inelastic since |0.4| < 1

this means that the change in quantity demanded is proportionally less than the change in price.

this is the real answer

Answers

Answer:

ummmmmmmmmmm thank you?

Answer:

Sorry, I could have told you the correct answer if I was there.

Explanation:

The difference between a chemical and physical change is that a chemical change cannot be undone and a physical change can be undone. I hope this help future questions. -3-

plz plz help me with this idk the answer multi choice ​

Answers

Answer:

The fourth option is likely the answer

3. Describe through the use of T accounts the birth & growth of the Wahoo Bank

Answers

Answer:

Describe through the use of T accounts the birth & growth of the Wahoo Bank is explained below in detailed explanation.

Explanation:

Equipoise T-accounts is one of the more complex and mind gobbling something for many accounting scholars. In this lesson, we're going to discover specifically how to balance a T-account. Surely, by the time you've completed this exercise, this action will be more relaxed for you than ever since. The last portion of the T-account that we require to meet is its amount. An account’s amount is the value of that object at a precise point in time.

In a T-account, we determine the balance of the matter at the origin of the term (month or year) and the conclusion of the period.

Select the statement below that BEST summarizes the text and supports your opinion. Are Pesticides to Blame for the Decreasing Population of Birds and Bees? Group of answer choices Using pesticides on farm crops may cause water pollution near the farms. Farmers need to use chemicals to produce greater amounts of food even if it means a decline in bird and bee populations. The use of pesticides to produce more crops may be causing the local birds and bees to decline in populations.

Answers

Answer: The use of pesticides to produce more crops may be causing the local birds and bees to decline in populations.

Explanation:

The statement below that best summarizes the text and supports the opinion is that the use of pesticides to produce more crops may be causing the local birds and bees to decline in populations.

Option A is not correct as the text isn't talking about water pollution which was being referred to in option A.

Option B didn't really specify the chemical that was being used. Therefore option B is incorrect.

Option C is the correct answer.

The shareholders of Busy Patterns have a preemptive right. Busy Patterns has decided to sell 1,000,000 new shares of common stock and the company currently has 1,000,000 shares outstanding. The preemptive right allows the current shareholders to:

Answers

Answer:

PREEMPTIVE RIGHT will allows the current shareholders to go ahead and

purchase a share of the common stock in the new common stock sale for each of the share that is been own by the shareholders before the common stock shares is been offered to the another entity.

Explanation:

Based on the information given we were told that Busy Patterns shareholders have a PREEMPTIVE RIGHT which simply means the right for a person, company or organization to acquire another new shares before the shares is offered to another person, company or organization in which we were still told that Busy Patterns has decided to sell the 1,000,000 new shares of common stock, Based on this PREEMPTIVE RIGHT will allows the current shareholders to go ahead and

purchase a share of the common stock in the new common stock sale for each of the share that is been own by the shareholders before the common stock shares is been offered to the another entity.

How does pay for Finance workers compare to that of other industries?
It is about the same as most other industries.
It is low compared to other industries.
It is good compared to other industries.
O It is inconsistent with that of other industries.

Answers

Answer:

c

Explanation:

Answer:

c

Explanation:

which of the following is NOT included on a check

Answers

Answer: Name date amount of money

Explanation: Your welcome

What is location analysis

Answers

Answer:

Location analysis is a technique for discovering, assessing and specifying the optimal placement of an organization's people, information, activities, and materials.Location models are key in performing location analysis by providing a well-documented common vision of current and desired location arrangements.

Profit is _____.


the difference between business income and business expenses

a main motive for entrepreneurs starting new businesses

often calculated using a pie graph

all of the above

Answers

I guess all above would seem reasonable

Answer:

ALL OF THE ABOVE

Explanation:

EDGE 2021 :D

need asap plz!!! Questlon 5 of 10 Which statement best describes the idea of the law of supply? A . The supply of a product decreases as its price increases B. The demand for a product decreases as its supply decreases. C. The demand for a product increases as its price increases. D. The supply of a product increases as its price increases SUBMIT​

Answers

Answer:

D. The supply of a product increases as its price increases

Explanation:

Supply is the volume of a product or a service that sellers are willing to sell in the market at a stated price.  The law of supply explains the relationship between price and the quantity suppliers are willing to sell.

The law asserts that as the price increases, suppliers will supply more quantities of a product. A price decrease will cause suppliers to supply a lower quantity.  Suppliers are profits motivated. A price increase results in higher profits hence more supply.

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