If a Two-Column

question 39

Essay

If a two-column
(all-purpose) general journal, a purchases journal, and a cash payments journal are used, indicate the journal in which each of the following transactions should be recorded:
(a)Payment of rent
(b)Purchase of supplies on account
(c)Purchase of computer on account
(d)Purchase of supplies for cash
(e)Advance payment of a one-year fire insurance policy on the office
(f)Adjustment to record accrued salaries at the end of the period
(g)Adjustment to record depreciation at the end of the month
(h)Payment of an account payable

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Definitions:

Production Cost

The total expense of producing a good or service, including labor, materials, and overhead costs.

Land Rent

The payment made for the use of land, which is determined by its location, fertility, and other factors influencing its productive capacity.

Acres

A unit of land area used in the United States and some other countries, equivalent to 43,560 square feet.

Relevant Columns

Important or pertinent columns in a database or spreadsheet that are significant to a particular analysis or task.