A Chart of Accounts Is Below

question 65

Essay

A chart of accounts is below.Following is a series of transactions.Indicate for each transaction the accounts that should be debited and credited by inserting the proper account number in the space provided.
$\begin{array}{c}\begin{array}{lll}\text { 111 Cash}\\\text { 112 Accounts Receivable}\\\text { 121 Delivery Equipment}\\\text { 211 Accounts Payable}\\\text { 311 C. Webster, Capital}\\\end{array}\begin{array}{lll}\text { 312 C. Webster, Withdrawals}\\\text { 411 Delivery Fees Earned}\\\text { 511 Salaries Expense}\\\text { 512 Rent Expense}\\\text { 513 Advertising Expense}\\\text { 514 Gas Expense}\end{array}\end{array}$
$\begin{array}{lll} \text { Debit}& \text { Credit}& \text { Transaction } \\\underline{\quad\quad}&\underline{\quad\quad}& \text { 1. Invested cash in the business. } \\\underline{\quad\quad}&\underline{\quad\quad}& \text { 2. Received cash for delivery services performed. } \\\underline{\quad\quad}&\underline{\quad\quad}& \text { 3. Billed a customer for services performed.}\\\underline{\quad\quad}&\underline{\quad\quad}& \text {4. Paid accounts payable. } \\\underline{\quad\quad}&\underline{\quad\quad}& \text {5. Collected accounts receivable. } \\\underline{\quad\quad}&\underline{\quad\quad}& \text { 6. Withdrew cash for personal use.}\\\underline{\quad\quad}&\underline{\quad\quad}& \text { 7. Paid advertising expense} \\ \underline{\quad\quad}&\underline{\quad\quad}&\text { 8. Paid rentexpense for the month. } \\\underline{\quad\quad}&\underline{\quad\quad}& \text { 9. Purchased delivery equipment on account. } \\\underline{\quad\quad}&\underline{\quad\quad}& \text { 10. Paid salaries for the week. } \\\end{array}$

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Definitions:

Odd-even Reliability

A measure of internal consistency reliability, where a test is split into odd and even items and the scores are correlated.

Construct Validity

The degree to which a test measures what it claims to be measuring, specifically in terms of whether the test actually assesses the theoretical construct it is designed to measure.

Predictive Validity

The level at which a score from a test or scale forecasts subsequent performance on a connected result.

Content Validity

Refers to the extent to which a test measures an intended content area.