Question: Identify the impacted accounts, then whether they would decrease or increase, then whether it is a credit or debit. Account Debit Credit Cash $ 15,000

Identify the impacted accounts, then whether they would decrease or increase, then whether it is a credit or debit.

Account Debit Credit
Cash $ 15,000
Common Stock $ 15,000
Received cash in exchange for Common Stock issued
Inventory $ 18,500
Received cash in exchange for credit $ 18,500
Cash Merchandise $ 555
Revenue for sold merchandise to customer $ 555
Inventory Payment $ 37,000
Partial payment to supplier for Inventory $ 3,700
Land Cash $ 20,000
Cash purchase for Land $ 20,000

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!

Q:

Journalize transaction numbers: 31, 35, 36, 39, 42,44,45 into the general journal. Attatched is everything one needs. A physical inventory showed that only $369.00 worth of general office supplies...

Q:

attached was the journal entries and then all info from january. i am needing the general ledger for febuary, the trial balance and adjusted trial balance, balance sheet, income statement,ect. My...

Q:

Question 1 Increase Sales Tax Payable with a Debit Credit 4 points Question 2 Decrease Common Stock with a: Debit Credit 4 points Question 3 The normal balance for Cash is Debit Credit 4 points...

Q:

Questions to be answered from the file attached. I have attached both chapters from where you will be answering these. Make sure to answer it thoroughly Chapter12 (page number 215or p 42 of the pdf)...

Q:

Cover Page of Form 10-K: 1) What is the date of the fiscal year-end for this report? Auditor's Report: 2) What is the name of the company's independent registered public accounting firm? 3) What is...

Q:

I need these answered. FINANCE - EXAM 1 1. Which of the following is the fundamental accounting equation? Current assets + Current liabilities = Owners' equity Assets + Owners' equity = Liabilities...

Q:

I need these answered. FINANCE - EXAM 1 1. Which of the following is the fundamental accounting equation? Current assets + Current liabilities = Owners' equity Assets + Owners' equity = Liabilities...

Q:

Case Study 1 (Part A) (Learning Objectives 4, 5, 6: Analyze the impact of business transactions on accounts; record (journalize and post) transactions in the books; construct and use a trial balance)...

Q:

Case Study 1 (Part A) (Learning Objectives 4, 5, 6: Analyze the impact of business transactions on accounts; record (journalize and post) transactions in the books; construct and use a trial balance)...

Q:

! Required information Problem 4-26A Comprehensive cycle problem: Perpetual system LO 4-2, 4-3,4-4,4-5, 4-6, 4-7 [The following information applies to the questions displayed below.) At the beginning...

Q:

The pOH of a solution is 12.04. What are pH, [H+], and [OH]?

Q:

For the vectors a = (3.0m)i + (4.0m)j and b = (5.0m)i + ( 2.0m)j, give a + b in (a) Unit-vector notation, and as (b) Unit-vector notation, and as (e) A magnitude and (f) An Angle.

Q:

A fishing line is being manufactured by two processes. To determine if there is a difference in the mean breaking strength of the lines, 10 pieces manufactured by each process are selected and then...

Q:

This assignment entails facilitating a team session with your work team. If you are not part of a team in your work setting, find a team in another context ( personal ) with whom to do the work. You...

Q:

Recognize that some applicants have a tendency to interview the interviewer and know how to address this mode of behavior

Q:

Appreciate the importance of training and development as continuing activities

Q:

Understand how an interviewer should respond or react when receiving legally forbidden information that is voluntarily given