Listed Below Are Accounts of Global Company, Each Identified by a Number

question 36

Essay

Listed below are accounts of Global Company, each identified by a number. Following this list of accounts is a series of transactions. You are to indicate for each transaction the accounts that should be debited and credited by inserting the proper account numbers in the space provided.
$\begin{array}{|l|l|l|l|}\hline 1 & \text { Cash } & 5 & \text { Delivery Equipment } \\\hline 2 & \text { Accounts Receivable } & 6 & \text { Notes Payable } \\\hline 3 & \text { Land } & 7 & \text { Accounts Payable } \\\hline 4 & \text { Building } & 8 & \text { Share Capital } \\\hline & & 9 & \text { Retained Earnings } \\\hline\end{array}$ $$\begin{array} { | l | c | c | } \hline { \text { Trarsaction } } & \begin{array} { c } \text { Accounts(s) } \\\text { Debited }\end{array} & \begin{array} { c } \text { Account(s) } \\\text { Credited }\end{array} \\\hline \begin{array} { l } \text { Example: Purchased delivery equipment, paying } \\\text { part cash and charging the balance on account }\end{array} & 5 & 1,7 \\\hline \text { G. Paid an account payable } & & \\\hline \text { H. Collected an account receivable } & & \\\hline \text { I. Issued share capital in exchanige for cash } & & \\\hline \begin{array} { l } \text { J. Sold some delivery equipment at costl } \\\text { received part of the proceeds in cash, with the } \\\text { balance due in 60 days }\end{array} & & \\\hline \begin{array} { l } \text { K. Purchased land and building paying part cash } \\\text { and signing a note payable for the balance }\end{array} & & \\\hline \begin{array} { l } \text { L. Borrowed money from a bank and signed a } \\\text { note payable due in six months }\end{array} & & \\\hline\end{array}$$

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Definitions:

Prokaryotes

Unicellular organisms lacking a distinct nucleus and other organelles, divided into the domains Bacteria and Archaea.

Eukaryotes

Organisms whose cells contain a nucleus enclosed within membranes, distinguishing them from prokaryotic cells, which lack a membrane-bound nucleus.

Multicellular

Organisms that are made up of more than one cell, including a vast majority of lifeforms from plants and animals to fungi.

Terrestrial

Pertaining to land or earth, describing organisms that live and thrive on solid ground, as opposed to aquatic or aerial environments.