Your answer is partially correct. Selected transactions for M. Acosta, an interior decorator, in...
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Accounting
Your answer is partially correct. Selected transactions for M Acosta, an interior decorator, in her first month of business, are as follows. Jan. Invested $ cash in business. Purchased used car for $ cash for use in business. Purchased supplies on account for $ Billed customers $ for services performed. Paid $ cash for advertising. Received $ cash from customers billed on January Paid creditor $ cash on balance owed. Withdrew $ cash for personal use by owner. For each transaction, indicate the following. January transaction is given as an example. a The basic type of account debited and credited asset liability, owner's equity b The specific account debited and credited Cash Rent Expense, Service Revenue, etc. c Whether the specific account is increased or decreased.
Your answer is partially correct.
Selected transactions for M Acosta, an interior decorator, in her first month of business, are as follows.
Jan. Invested $ cash in business.
Purchased used car for $ cash for use in business.
Purchased supplies on account for $
Billed customers $ for services performed.
Paid $ cash for advertising.
Received $ cash from customers billed on January
Paid creditor $ cash on balance owed.
Withdrew $ cash for personal use by owner.
For each transaction, indicate the following. January transaction is given as an example.
a The basic type of account debited and credited asset liability, owner's equity
b The specific account debited and credited Cash Rent Expense, Service Revenue, etc.
c Whether the specific account is increased or decreased.
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