which can not be occured by transaction?
1,decrease of resource decrease of expenditure.
b,increase of income
increase of expenditure.
c,increase of expenditure
increase of liabilities.
d,increase of resource
decrease of income.
answer with explanation please
Answers
Explanation:
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Answer:
Journals
Accountants use special forms called journals to keep track of their business transactions. A journal is the first place information is entered into the accounting system. A journal is often referred to as the book of original entry because it is the place the information originally enters into the system. A journal keeps a historical account of all recordable transactions with which the company has engaged. In other words, a journal is similar to a diary for a business. When you enter information into a journal, we say you are journalizing the entry. Journaling the entry is the second step in the accounting cycle. Here is a picture of a journal.
Recording Transactions
We now return to our company example of Printing Plus, Lynn Sanders’ printing service company. We will analyze and record each of the transactions for her business and discuss how this impacts the financial statements. Some of the listed transactions have been ones we have seen throughout this chapter. More detail for each of these transactions is provided, along with a few new transactions.
On January 3, 2019, issues $20,000 shares of common stock for cash.
On January 5, 2019, purchases equipment on account for $3,500, payment due within the month.
On January 9, 2019, receives $4,000 cash in advance from a customer for services not yet rendered.
On January 10, 2019, provides $5,500 in services to a customer who asks to be billed for the services.
On January 12, 2019, pays a $300 utility bill with cash.
On January 14, 2019, distributed $100 cash in dividends to stockholders.
On January 17, 2019, receives $2,800 cash from a customer for services rendered.
On January 18, 2019, paid in full, with cash, for the equipment purchase on January 5.
On January 20, 2019, paid $3,600 cash in salaries expense to employees.
On January 23, 2019, received cash payment in full from the customer on the January 10 transaction.
On January 27, 2019, provides $1,200 in services to a customer who asks to be billed for the services.
On January 30, 2019, purchases supplies on account for $500, payment due within three months.
Explanation:
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