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The purchase of a typewriter on an account would be recorded as a debit on accounts payable and credit to office equipment True or False?
Wiki User
∙ 12y ago
false
Wiki User
∙ 12y ago
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The purchase of equipment on credit is recorded by?
Debit to Equipment and a credit to Accounts Payable
How are purchase discounts and purchase returns recorded by a company using the periodic inventory system?
They are recorded as a direct reduction to the Purchases account.
Assets purchased for resale are recorded in which of the following accounts?
Merchandise Inventory
Which of the following types of accounts are decreases recorded by credits?
revenues, liabilities
What you mean by account?
Account means a single entry in double entry system such as i purchase some thing for business i recorded for example Land debit and money credit these debit and credit are called accounts in accounting
The purchase of equipment on credit is recorded by?
Debit to Equipment and a credit to Accounts Payable
What is the purchase of equipment on credit recorded by?
A debit to equipment and a credit to liability
How are purchase discounts and purchase returns recorded by a company using the periodic inventory system?
They are recorded as a direct reduction to the Purchases account.
Assets purchased for resale are recorded in which of the following accounts?
Merchandise Inventory
Which of the following types of accounts are decreases recorded by credits?
revenues, liabilities
Who is the fastest typist ever in recorded?
Ron Mingo was the fastest typewriter inthe world
Are revenue and expense accounts real accounts?
No real accounts are for business possessions like assets and stock revenue and expense items are recorded in the nominal also named the general ledger. Personal accounts are for debtors and creditors accounts.
What you mean by account?
Account means a single entry in double entry system such as i purchase some thing for business i recorded for example Land debit and money credit these debit and credit are called accounts in accounting
Expenses that have been incurred but not recorded in the accounts?
Expenses incurred but not yet paid or recorded are called accrued expenses.
Accounts receivable is under what statement?
Accounts receivable is a benefit receivable in future time that's why it is recorded in balance sheet of company
A liability that has been incurred but has not been recorded in the accounts is known as...?
An accrued liability
A liability that has been incurred but has not been recorded in the accounts is known as?
An accrued liability
