For Each Transaction Provided, Choose the Appropriate Account from the List

question 104

Short Answer

For each transaction provided, choose the appropriate account from the list that would receive a debit entry as a result of the transaction. (Choices may be used more than once.)
a.Cash
b.Accounts receivable
c.Supplies
d.Prepaid insurance
e.Land
f.Equipment
g.Accounts payable
h.Unearned revenues
i.Notes payable
j.Common stock
k.Retained earnings
l.Service revenue
m.Salary expense
n.Insurance expense
o.Utilities expense
p.Dividends
-Issuing common stock

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Definitions:

Foreign Aid

Economic, military, or technical assistance given by one nation to another for purposes of relief and rehabilitation, economic stabilization, or mutual defense.

Sanctions

Measures taken by countries or international bodies to punish or restrict other nations in order to effect change in their behavior, typically for political, military, or economic reasons.

Economic

Refers to the science that studies how goods and services are produced, distributed, and consumed.

Economic Assistance

Financial aid provided by countries or international institutions to support the economic development and welfare of disadvantaged regions or countries.