Answer:
Debit Petty cash $200 and credit cash $200
Explanation:
Accountants evaluate business activities and put them in record using journal entries such as debit-credit rules as a guide. Normally, an accountant will use specific journals for numerous journal entries of the same type – like sales journals, cash journals and purchases journals. Businesses which are large usually use specialized journals, while businesses which are smaller tend to only use a general journal that has all transactions. Recording journal entries is only the first step in the accounting.
Here are the answers: Ceteris Paribus, we would expect the following to be the cause of a decrease in the demand for the automobiles and these are: Increased gasoline prices, the expectations of the consumers that the prices of the automobiles will depreciate the following year and that the significant recession will develop and will last for a year. (Answers are based from the actual options attached to this question.)
Answer:
C. Three
Explanation:
Basically there are three types of activities:
1. Operating activities: It includes those transactions which affect the working capital, and it records transactions of cash receipts and cash payments.
2. Investing activities: It records those activities which include purchase and sale of the fixed assets
3. Financing activities: It records those activities which affect the long term liability and shareholder equity balance.
So, in the above question, there are 3 transactions which are to be considered as operating activities that includes Purchased $12,000 in supplies, Provide services to customers for $27,000, and Paid the utility bill of $750
