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accounting double check please?

Can you please double check my answers please and thank you:

1. Select the accounts affected by the following transaction: TJ Rex invests $50,000 to open a music store.

a. Assets and Owner’s Equity,............................................... I say A

b. Assets and Liabilities

c. Liabilities and Owner’s Equity

d. Capital and Owner’s Equity

2. Select the accounts affected by the following transaction: TJ Rex uses credit to buy musical instruments to sell in the store. .................................... A again?

a. Assets and Owner’s Equity

b. Assets and Liabilities

c. Liabilities and Owner’s Equity

d. Capital and Owner’s Equity

3. Select the accounts affected by the following transaction: TJ Rex provides guitar lessons for $25 cash.

a. Cash and Accounts Payable

b. Cash and Revenue ........................................ is C right?

c. Accounts Receivable and Revenue

d. Cash and Expenses

4. Select the accounts affected by the following transaction: TJ Rex receives $100 for previous lessons provided on account.

a. Cash and Accounts Receivable

b. Cash and Revenue .......................................... A?

c. Accounts Receivable and Revenue

d. Cash and Expenses

5. Select the accounts affected by the following transaction: TJ Rex receives the utility bill but will wait and pay it next month.

a. Cash and Accounts Receivable

b. Cash and Revenue

c. Accounts Receivable and Revenue ....................................... D?

d. Accounts Payable and Expenses

1 Answer

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  • Sandy
    Lv 7
    9 years ago
    Favorite Answer

    1. Select the accounts affected by the following transaction: TJ Rex invests $50,000 to open a music store.

    a. Assets and Owner’s Equity

    2. Select the accounts affected by the following transaction: TJ Rex uses credit to buy musical instruments to sell in the store.

    b. Assets and Liabilities

    3. Select the accounts affected by the following transaction: TJ Rex provides guitar lessons for $25 cash.

    b. Cash and Revenue

    4. Select the accounts affected by the following transaction: TJ Rex receives $100 for previous lessons provided on account.

    a. Cash and Accounts Receivable

    5. Select the accounts affected by the following transaction: TJ Rex receives the utility bill but will wait and pay it next month.

    d. Accounts Payable and Expenses

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