Answer:
Explanation:
A. Investment of additional cash into the business by owner is recorded in the general Journal
B. Rendering service for cash is recorded in the cash receipt Journal
C. Rendering of service on account is recorded in the revenue journal
D. Receipt of cash on account from a customer is recorded in the cash receipt Journal
E. Sale of office supplies for cash, at cost, to a neighboring business is recorded in the general journal
F. Adjustment to record supplies used at the end of the year is recorded in the general journal
G. Closing of drawing account at the end of the year is recorded in the general journal
The way each instrument be changed if the fed wished to decrease the money supply is the Fed should conduct :
- Open market sales
- Raise discount rates
- Raise interest paid on reserves.
This will attract more saving from the people.
Answer:
A) investors
Explanation:
The main aim of financial accounting to provide information to the investors( existing and would-be) about the performance and position of the business at a particular point in time.
Performance relates to net income earned while the position is about the net assets of the company which is an offshoot of all the assets owned and liabilities(obligations) owed to other parties
Answer:
If a cheque was being issued to settle a account payable, the relevant entry is to debit the accounts payable account to show that the debt is being reduced. You will then credit the cash account to show that cash is being reduced as well because it was used to pay off the debt.
Date Account Title Debit Credit
XX-XX-XXXX Accounts Payable - Saurya Stores Rs. 39,000
Cash Rs. 39,000