Top Posters
Since Sunday
g
3
3
2
J
2
p
2
m
2
h
2
s
2
r
2
d
2
l
2
a
2
Home Q & A Board Other Fields Homework Help Business Accounting
New Topic  
H3Ko H3Ko
wrote...
Go to Answer
Posts: 4891
Rep: 45 0
7 years ago
A business has the following transactions:

The business received $21,000 cash and issued common stock to stockholders.
The business purchases $600 of office supplies on account.
The business purchases $4,000 of furniture on account.
The business renders services to various clients totaling $10,000 on account.
The business pays out $2,500 for salaries expense and $5,000 for rent expense.
The business pays $800 to supplier for the office supplies purchased earlier.
The business collects $1,000 from one of its clients for services rendered earlier in the month.

At the end of the month, all journal entries are posted to the ledger. Accounts Payable will appear as which of the following?

A)               Accounts Payable
800
   600
4,000   
   3,800    Bal.

B)                Accounts Payable
   600
4,000   
   10,000    Bal.

C)                Accounts Payable
   600
4,000
800   
   5,400    Bal.

D)                Accounts Payable
   600
4,000
   

800   
Bal.   3,800
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
Authors:
Read 184 times
3 Replies
Replies
Answer verified by a subject expert
Mrgo-breedMrgo-breed
wrote...
#1
Top Poster
Posts: 2227
Rep: 276 0
7 years ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

H3Ko Author
wrote...
#2
7 years ago
YES! Can't believe I got this one right. Appreciate the confirmation
wrote...
#3
7 years ago
I'm liking this Slight Smile
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  1077 People Browsing
 148 Signed Up Today
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 239
  
 245
  
 600
Your Opinion
Where do you get your textbooks?
Votes: 328
Previous poll results: Does a gender wage gap exist in America?