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a) Land
b) Service
revenue
c) Salaries &
Wages
expenses
d) Supplies
e) Cash
f) Utilities
expenses
g) Equipment
h) Accounts
payable
i) Rent on
office and
equipment
j) Accounts
receivable
k) Sales
l) Advertising
expenses
m) Depreciation
Assets
Fixed Current
assets assets
Liability
Owners equity
LongCurrent Capital Profit and Drawings
term
liabilities
Loss
liabilities
(RevenuesExpenses)
expenses
n) Custom duty
o) Premises
p) Long-term
loan
q) Drawings
3. Mark started a delivery service, Mark deliveries, on June 1. The accounting transactions in
the table below occurred during the month of June. Indicate the proper accounts to be
debited and credited for the following transactions.
June
Transactions
2
3
5
9
12
15
17
20
23
26
29
30
Account (s) to
be debited
Cash
Account (s) to
be credited
Capital
Van/Vehicle
Cash
Loan
Rental expense
Accounts
Receivable
Repair expense
Supplies
Cash
Service revenue
Loan
Cash
Cash
Accounts
payable
Cash
Accounts
receivable
Gasoline expense Accrued gasoline
expense/Gasoline
payable
Cash
Service revenue
Utility expense
Cash
Accrued gasoline Cash
expense/Gasoline
payable
Salary expense
Cash
4. Lina started a consulting firm, Lina Consulting, on May 1, 2010. The following transactions
occurred during the month of May.
May Transactions
1
Lina invested RM8,000 cash in the business.
2
Paid RM800 for office rent for the month.
2
3
5
9
12
15
17
20
23
26
29
30
Liabilities