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» Accounting questions

Question

Sep 11, 2007, 05:00 PM

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Join Date: Sep 2007

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Accounting questions

My investments is $1500.00. If I bought supplies for cash for $400.00, where would the $400.00 go under on my accounting work sheet?

Answers

Sep 11, 2007, 05:13 PM	#2

CaptainForest Finance & Accounting Expert Join Date: Nov 2005 Location: Canada Posts: 3,672	Debit Supplies 400 Credit Cash 400 That means increase Supplies (an asset account) by 400 and decrease Cash (an asset account) by 400

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