Indicate Which Effect(s)each Situation Will Have

question 2

Short Answer

Indicate which effect(s)each situation will have:
1.New check written
2.Recorded in the general journal
3.Recorded in auxiliary petty cash record
4.Petty cash voucher prepared
-________ Owner withdrew money from the company for personal use

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Definitions:

Straight-Line Depreciation

Depreciation method in which the amount taken to depreciation expense each year is constant and equal to 1/n times the depreciable amount, where n is the depreciable life of the asset.

Salvage Value

The estimated residual value of an asset at the end of its useful life.

Opportunity Cost

The receipts from the next most valuable forgone alternative when making a decision or choice among many options.