Question: Answer all plz Lake Corporation provides computer consulting services. Shown below are (s) several accounts in with each account preceded by an identification number, and

 Answer all plz Lake Corporation provides computer consulting services. Shown below
Answer all plz

Lake Corporation provides computer consulting services. Shown below are (s) several accounts in with each account preceded by an identification number, and (b) several transactions completed the corporation. Indicate the accounts debited and credited when recording each transaction by placing proper account identification numbers to the right of each transaction. 1. Accounts Payable 2. Accounts Receivable 3. Cash 4. Consulting Fees Earned 5. Office Supplies 6. Office Supplies Expense 7. Telephone Expense 8. Unearned Consulting Fees 9. Common Stock 10. Retained Earnings 11. Insurance Expense 12. Prepaid Insurance Completed consulting work for a client who will pay at a later date A. Received cash in advance from a customer for designing a software package B. Purchase office supplies on credit C. Paid for supplies purchase in B D. Received the telephone bill of the business and Immediately paid it E. Paid for a 3-year insurance policy Match the following types of accounts with (a) though (d) for each of the following transactions (91) through (94). (a) Accrued expense (b) Prepaid expense (c) Unearned revenue (d) Accrued expense Used to record wages owed, but not paid. Used to record revenue earned but not received. Used to record expiration of prepaid insurance. Used to record revenue received in advance

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!