Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. which of the following accounting entries is not c

Which of the following accounting entries is NOT correct? - If a company purchases...

50.1K

Verified Solution

Question

Accounting

Which of the following accounting entries is NOT correct?

- If a company purchases supplies on account, the Supplies account is debited, and the Account Payable is credited.

- If a company recognizes other operating expenses on account, the Other Operating Expenses account is debited and Accounts Payable are credited.

- If a company pays cash to purchase land, the Land account is debited and the Cash account is credited.

- If a company pays cash for salary expense, the Salary Expense account is credited and the Cash account is debited.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Chemistry
1.2K views

Shown below are the 4 reactions involved in the Cu cycle listed in random order. a.Cu(PO)(s) + 6HCl(aq)...

Mechanical Engineering
1.2K views

Water at a local bulk temperature of 24°C flows at 0.8 m/s through a smooth, 1.5-cm-ID...

Accounting
1.2K views

Laura Leasing Company signs an agreement on January 1, 2020, to lease equipment to Kingbird Company....

Biology
1.2K views

Question 3 Where does translation take place A nucleus B endoplasmic reticulum C golgi apparatus...

Physics
1.2K views

The graph shows the electric potential as a function of x in a certain region...

Geometry
1.2K views

A 45 ZASI 5 A 45 8 45 6 b 45 9V 2

Calculus
1.2K views

3 For f x 2x 16x 5 find the following A f x B The...

Algebra
1.2K views

What is the measure of angle B in the figure below A C O 30...

Accounting
1.2K views

Some recent financial statements for Smolira Golf, Incorporated, follow

Accounting
1.2K views

Problem 7-7 L05,7 Chase Corporation owns 60 percent of Moncton Corporation's...

Accounting
1.2K views

A company's balance sheet shows: cash $24,200, accounts receivable $17,100, office equipment $52,750, and accounts...

Accounting
1.2K views

Mr. Jaiffer accepted a bill of exchange for OMR 6,000 and the term of the...