I necessitate support next to a T-account for my accounting class!! ASAP!!?
I am amid setting up my t-accounts and I want to know where on earth this is placed:
Purchased department equipment for $575, compensated lolly $175 near the match due surrounded by 30 days.
I am stumped on this one. what t-accounts would you use surrounded by a problem resembling this? Please help out me!
Answers:
You obligation 3 T-accounts for this problem. Your magazine entries are:
Dr Office equipment 575
Cr Cash 175
Cr A/cs Payable 400
Debits turn on the disappeared side of the T, credits shift on the right side. Make sure your debit equal your credits.
T accounts for Cash, Office equipment and Accounts payable. Left side is debit, right side is credit. Credit change for 575, debit department equipment for 575 and credit accounts payable anything the stability is
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Purchased department equipment for $575, compensated lolly $175 near the match due surrounded by 30 days.
I am stumped on this one. what t-accounts would you use surrounded by a problem resembling this? Please help out me!
Answers:
You obligation 3 T-accounts for this problem. Your magazine entries are:
Dr Office equipment 575
Cr Cash 175
Cr A/cs Payable 400
Debits turn on the disappeared side of the T, credits shift on the right side. Make sure your debit equal your credits.
T accounts for Cash, Office equipment and Accounts payable. Left side is debit, right side is credit. Credit change for 575, debit department equipment for 575 and credit accounts payable anything the stability is