When you pay an expense using cash, which account do you debit? The expense account or the
Question:
When you pay an expense using cash, which account do you debit? The expense account or the cash account?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (QA)
When your cash decreases you credit the cash account Th...View the full answer
Answered By
Talha Talib
I am a member of IEEE society. As i am a student of electrical engineering badge 17 but beside of this i am also a tutor in unique academy. I teach calculus, communication skills, mechanics and economics. I am also a home tutor. My student Muhammad Salman Alvi is a brilliant A-level student and he performs very well in academics when i start to teach him. His weak point was mathematics but now he is performing well in mathematics. I am a scholarship holder in Fsc as i scored 1017 marks in metric out of 1100. Later on i got scholarship in Punjab Group of Colleges. I got 2nd position in robotics competition in 2018 as my project home automation select for the exhibition in Expocentre.
4.60+
23+ Reviews
62+ Question Solved
Related Book For
Frank Woods Business Accounting Volume 1
ISBN: 9781292084664
13th Edition
Authors: Alan Sangster, Frank Wood
Question Posted:
Students also viewed these Business questions
-
I need help on this read from bottom to top. Image transcription text 7"} The second ?nancial statement to prepare is the statement of retained earnings. To determine the ending balance of...
-
Complete requirements 1 through 3 of Jane's Skateboards for the first milestone of the course project. You have the option of using either the T-Accounts tab for posting Journal Entries or the...
-
The Crazy Eddie fraud may appear smaller and gentler than the massive billion-dollar frauds exposed in recent times, such as Bernie Madoffs Ponzi scheme, frauds in the subprime mortgage market, the...
-
In his book, The Federal Land Revisited, Marion Clawson proposed what he called the pullback concept: Under the pullback concept any person or group could apply, under applicable law, for a tract of...
-
Some argue that the best way to stop patent trolls from taking advantage of the system would be to eliminate software patents completely and pass a law that makes software un-patentable. Would this...
-
Are socially responsible companies economically successful? In other words, does it pay to be socially responsible?
-
Washington Tennis & Education Foundation, Inc. (WTEF) is a nonprofit organization operating in the District of Columbia that provides athletic and academic programs for children from low-income...
-
Tailgator Company produces four versions of its model J7-21 bicycle seat. The four versions have different shapes, but their processing operations and production costs are identical. During July, the...
-
Describe persistence design under NoSQL technologies.? What is NoSQL polyglot persistence?
-
You can use the accounting equation to confirm this. Write down the accounting equation and see if you can work out what happens to it if (a) a business spends 30 in cash hiring a van for a day and...
-
Identify which of the accounts listed in the table above are expense accounts and which ones are revenue accounts.
-
Solve the given problems. All data are accurate to two significant digits unless greater accuracy is given Each day a mining company crushes 18,000 Mg of shale-oil rock, some of it 72 L/Mg and the...
-
2. Sketch the mechanical model and derive the mathematical equation for the below figure. How many independent energy storing elements are in the system? Does it match the order of your two...
-
Following is a list of account balances of Tanner Lawn Services as of December 31, after the first year of operations. Accounts Receivable Accounts Payable $7,100 6,900 Salaries Expense 7,800 Repairs...
-
Step 1: Risk Assessment and Identification Effective fraud detection and prevention begin with a comprehensive risk assessment. Civil engineering projects involve financial transactions, procurement...
-
Step 1: Recognition and Measurement of Deferred Taxes ASC 740, also known as Accounting for Income Taxes, primarily deals with the recognition and measurement of deferred taxes. Deferred taxes arise...
-
Accounts Payable had a normal beginning balance of $ 5 0 0 . 5 0 0 . During the period, the company made purchases on account of $ 1 , 0 0 0 1 , 0 0 0 and paid cash on account of $ 4 0 0 . 4 0 0 ....
-
At 90C, the vapour pressure of I, 2-dimethylbenzene is 20 kPa and that of 1,3-dimethylbenzene is 18 kPa. What is the composition of a liquid mixture that boils at 90C when the pressure is 19 kPa?...
-
Ex. (17): the vector field F = x i-zj + yz k is defined over the volume of the cuboid given by 0x a,0 y b, 0zc, enclosing the surface S. Evaluate the surface integral ff, F. ds?
-
When a RACI matrix is being created, what person or group of people are assign an R for responsible?
-
A partnership has total equity of $464,000. Partnership equity consists of Green, Capital, $324,000, and Tan, Capital, $140,000. Net income and loss is shared in a ratio of 85% to Green and 15% to...
-
a) What is arbitrage? And what are the different types of arbitrage? B) Can arbitrage strategies be risky when price convergence is not guaranteed? Clearly describe and outline 1 real-life example to...
Study smarter with the SolutionInn App