Financial Accounting
If a company records a \$400 debit to Equipment and a \$400 credit to Cash, what is the impact on the accounting equation?
How would you record a \$500 utility bill that is paid immediately?
Which of the following is classified as a liability account?
Which of the following best describes a transaction in financial accounting?
A company pays off a \$1,000 loan. How should this transaction be recorded?
In a transaction where a company pays rent, what is given up and what is received?
How would you record a \$1,500 loan received from a bank?
Why does every transaction affect at least two accounts in financial accounting?
If a company records a \$300 debit to Cash and a \$300 credit to Service Revenue, what is the impact on the accounting equation?
If a company purchases equipment for cash, which accounts are affected and how?
