Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Accounting Basics Expert

An accountant has debited an account for $3,900 and credited a liability account for $2,000. Which of the following would be an incorrect way to complete the recording of this transaction?

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M944980

Have any Question? 


Related Questions in Accounting Basics

Case study -you are auditing the financial report of best

Case Study - You are auditing the financial report of Best Living Supplies Ltd (Best Living Supplies) for the year ended 30 June 2016. Best Living Supplies sells a wide variety of household products to retail outlets.  A ...

Use the following transactions and additional information

Use the following TRANSACTIONS AND ADDITIONAL INFORMATION to complete the General Journal Entries, Ledger, Worksheet and Financial Statements for the first of the month of operations for The Golf Club. PERPETUAL INVENTOR ...

Contaminated blood culture specimens in the emergency

Contaminated Blood Culture Specimens in the Emergency Department: Making the Business Case for Improving Quality 1. Scenario. As part of an organization-wide performance improvement initiative to address the accuracy and ...

Assignment detailsas at the 1stmay katy perry establishes a

Assignment Details: As at the 1stMay, Katy Perry establishes a new business Katie's Bridal Services as a sole trader. The business will hire out bridal gowns and other accessories as well as provide professional services ...

Capital rationingthe availability of funds effects the

Capital Rationing The availability of funds effects the capital budgeting decisions. The amount of funds available for capital expenditures will be either limited or unlimited. Funds would be considered unlimited when a ...

Problem - journalizing transactions the chart of account

Problem - Journalizing Transactions The chart of account for Jerome Gelacio Pest Control is as follows: Assets Income 110 Cash 410 Landscaping Revenues Expenses 120 Accounts Receivable 510 Salaries Expense 130 Prepaid In ...

Imagine you are a member of the project approval committee

Imagine you are a member of the project approval committee. An ambitious young manager in the marketing department is well connected with the top management team in your company. He catches you in the hall and mentions t ...

Research problem you are interviewing a client before

Research Problem : You are interviewing a client before preparing his tax return. He indicates that he did not list as income $96,000 received as a recovery for false imprisonment. What should you do with respect to this ...

Colt football co had a player contract with watts that is

Colt Football Co. had a player contract with Watts that is recorded in its books at $5,600,000 on July 1, 2014. Day Football Co. had a player contract with Kurtz that is recorded in its books at $7,000,000 on July 1, 201 ...

Q1 the following is a record of tiller corporations

Q1. The following is a record of Tiller Corporation's inventory transactions for the current month: January 1 Balance, 500 units @ $10 each January 5 Sale, 290 units @ $25 January 11 Purchase 300 units @ $12 each January ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

A cola-dispensing machine is set to dispense 9 ounces of

A cola-dispensing machine is set to dispense 9 ounces of cola per cup, with a standard deviation of 1.0 ounce. The manuf

What is marketingbullwhat is marketing think back to your

What is Marketing? • "What is marketing"? Think back to your impressions before you started this class versus how you

Question -your client david smith runs a small it

QUESTION - Your client, David Smith runs a small IT consulting business specialising in computer software and techno

Inspection of a random sample of 22 aircraft showed that 15

Inspection of a random sample of 22 aircraft showed that 15 needed repairs to fix a wiring problem that might compromise

Effective hrmquestionhow can an effective hrm system help

Effective HRM Question How can an effective HRM system help facilitate the achievement of an organization's strate