Answer:
A. Debit Equipment and credit Cash.
- You purchase equipment and you pay in cash.
B. Debit Dividends and credit Cash.
C. Debit Wages Payable and credit Cash.
- You paid wages that you owed to your employees. Generally wages are paid at the end of the week and not all months end on a weekend. So you must record wages payable until you actually pay the wages.
D. Debit Equipment and credit Common Stock.
- You received equipment in exchange for common stock.
E. Debit Cash and credit Unearned Revenue.
- You received cash in advance for some food that you will deliver in the future.
F. Debit Advertising Expense and credit Cash.
- You incurred in advertising costs and you paid them in cash.
G. Debit Cash and credit Service Revenue.
- You sold meals and your clients paid you in cash.
Answer:
The amount of the net income shown on the income statement is $9,000
Explanation:
The computation of the net income is shown below:
Net income = Services provided for cash = operating expenses incurred
= $45,000 - $36,000
= $9,000
According to the matching principle, the revenues of a particular period should always be matched with the expenses that are incurred in that particular year
So, the net income that is to be reported on the income statement is $9,000
Note: Options are shown in the attachment
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