Answer:
Explanation:
The explanation of the following transactions is given
a. Debit Equipment and credit Cash.
In this transaction, the equipment is purchased for cash so the equipment account is debited and the cash account is credited.
b. Debit Dividends and credit Cash.
In this transaction, the dividend is paid for cash so the dividend account is debited and the cash account is credited.
c. Debit Wages Payable and credit Cash.
In this transaction, the Accrued wages are paid for cash so the wages payable account is debited and cash account is credited.
d. Debit Equipment and credit Common Stock
In this transaction, the equipment is purchased for exchange of the common stock so the equipment account is debited and common stock is credited.
e. Debit Cash and credit Unearned Revenue
In this transaction, the cash is received for service rendered in the future so the cash account is debited and Unearned Revenue is credited.
f. Debit Advertising Expense and credit Cash
In this transaction, the advertising expense is paid for cash so the advertising expense account is debited and cash is credited.
g. Debit Cash and credit Service Revenue.
In this transaction, the cash is received for service performed so the cash account is debited and service Revenue is credited.
