Read Each Transaction and Identify the Appropriate Journal That It

question 134

Essay

Read each transaction and identify the appropriate journal that it should be recorded in;
1. Owner withdrew supplies
2. Sale made on account
3. Payment to vendor on account
4. Payment received from customer on account
5. Purchases on account
6. Adjusting journal entry for supplies used
7. Owner withdrew cash
8. Company borrows money from bank
9. Record monthly depreciation
10. Close revenue accounts at month end

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Definitions:

Employee Discrimination

Unfair treatment of employees based on race, gender, age, religion, disability, or any other characteristic, rather than their merits or abilities.

Company Favouritism

The practice of giving unfair preferential treatment to one's own company or specific employees within it.

Class Structure

The organization of society into hierarchical layers based on socio-economic status, wealth, or occupation.

Income Distribution

The way in which total income is shared among the members of a society.