i need clarifying with three question answers then two question

1. Both the account title AND dollar amount being credited MUST be indented to show right vs. left.

2. The total dollar amount being debited MUST equal the total dollar amount being credited.

3. Do NOT use the $ sign or the words "debit" or "credit" as this is evident when you use proper form.

4. Line up the BEGINNING of your account titles & END of dollar amounts being debited vs. those being credited.

CORRECT FORM: Equipment 20,000

Cash 1,000

Common Stock 21,000 line up names/dollar amounts being credited vs. debited

CORRECT FORM: Equipment 1,000

Cash 700

Notes payable 300 total debits equal total credits

Give the journal entry (FOR FULL CREDIT ALWAYS GIVE JOURNAL ENTRIES IN PROPER FORM: see Hints/FAQ tab for guidelines) when a building is purchased for $20,000 cash & a notes payable for $40,000:

answer

building 60,000

cash 20,000

notes payable 40,000

Give the journal entry (FOR FULL CREDIT ALWAYS GIVE JOURNAL ENTRIES IN PROPER FORM: see Hints/FAQ tab for guidelines) when we collect 1,000 on account:

Cash 1,000 Accounts Receivable 1,000

Give the journal entry (FOR FULL CREDIT ALWAYS GIVE JOURNAL ENTRIES IN PROPER FORM: see Hints/FAQ tab for guidelines) when a payment of $1,000 is made on account (we pay):

answer

acoount payable 1000

cash 1000

1st question What transaction (event) does the following entry record? In other words, what happened to require this entry?:

Cash 5,000

Common Stock 5,000

2 nd question

After identifying and analyzing, the next three steps of the accounting cycle in order are

		Post, journalize, Trial balance
		Journalize, post, Trial balance
		Trial balance, post, journalize
		Post, Trial Balance, Journalize