Tell whether each of the following accounts is an asset, a liability, a revenue, an expense, or none of these

Classification of Accounts

Tell whether each of the following accounts is an asset, a liability, a revenue, an expense, or none of these:

a. Accounts Payable

b. Supplies

c. Dividends

d. Fees Earned

e. Supplies Expense

f. Accounts Receivable

g. Unearned Revenue

h. Equipment

Normal Balances

Tell whether the normal balance of each account in SE 3 is a debit or a credit.

Transaction Analysis

For each transaction that follows, indicate which account is debited and which account is credited.

May 2 Leon Stoker started a computer programming business, Stoker’s

Programming Service, Inc., by investing $10,000 in exchange for common stock.

5 Purchased a computer for $5,000 in cash.

7 Purchased supplies on credit for $600.

19 Received cash for programming services performed, $1,000.

22 Received cash for programming services to be performed, $1,200.

25 Paid the rent for May, $1,300.

31 Billed a customer for programming services performed, $500.

 

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Write a program that reads the name of an element from the user and uses a recursive function to find the longest sequence of elements that begins with that value

Some people like to play a game that constructs a sequence of chemical elements where each element in the sequence begins with the last letter of its predecessor. For example,….

What is the correct charge to the income statement for bad debts and bad debt provisions for the years to 31 December 20X1?

Trade receivables as at 31 December 20X1 were $25,000. The bad debt provision as at 1 January 20X1 was $812. During the year to 31 December 20X1 bad debts of….

Which of the following is an adjusting event?

IAS 10 – Events after the balance sheet date, distinguishes between adjusting and non-adjusting events. Which of the following is an adjusting event? (A) One month after the year end,….