jumpol
Dec 12, 2008, 11:17 PM
Could you please check whether I did it right or wrong ?
1.Dwyer Delivery Service,a proprietorship, began operations by receiving from the owner $5000 cash and a truck valued at $10000. The business gave Paul Dwyer, the oener, capital in the business.
answer Debit Cash 5000
Truck 10000
Credit Capital 15000
What category should I put truck in ?
2. Complete a large delivery job, billed the customer $2000, and received a promise to collect the 2000 within one week.
answer Debit Account Payable 2000
Credit Service Revenue 2000
3. Purchased fuel for the truck, paying $100 with a company credit card. Credit Account Payable.
answer Debit Fuel expense 100
Credit Account Payable 100
Thank you so much for your kindness.
1.Dwyer Delivery Service,a proprietorship, began operations by receiving from the owner $5000 cash and a truck valued at $10000. The business gave Paul Dwyer, the oener, capital in the business.
answer Debit Cash 5000
Truck 10000
Credit Capital 15000
What category should I put truck in ?
2. Complete a large delivery job, billed the customer $2000, and received a promise to collect the 2000 within one week.
answer Debit Account Payable 2000
Credit Service Revenue 2000
3. Purchased fuel for the truck, paying $100 with a company credit card. Credit Account Payable.
answer Debit Fuel expense 100
Credit Account Payable 100
Thank you so much for your kindness.