Page 101

CLICK HERE TO ACCESS FULL VERSION

117) J. Smith withdrew $100 from Jay's Limo Services for personal use. Which of the following general journal entries will Jay's Limo Services make to record this transaction? A) J. Smith, Withdrawals 100 Cash 100 B) Cash J. Smith, Withdrawals

100

C) J. Smith, Capital J. Smith, Withdrawals

100

D) J. Smith, Withdrawals J. Smith, Capital

100

E) Cash J. Smith, Capital

100

100

100

100

100

Answer: A Difficulty: 2 Medium Topic: Analyzing Transactions; Journal Entries Learning Objective: 02-A1 Analyze the impact of transactions on accounts and financial statements.; 02-P1 Record transactions in a journal and post entries to a ledger. Bloom's: Apply AACSB/Accessibility: Analytical Thinking / Keyboard Navigation AICPA: BB Industry; FN Measurement

41 Copyright 2019 Š McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education.

Profile for rami talalweh

Test Bank for Fundamental Accounting Principles 24th Edition Wild  

Fundamental Accounting Principles 24th Edition Wild Test Bank 2019 (9781259916960) (1259916960). Instant test bank download. Download from h...

Test Bank for Fundamental Accounting Principles 24th Edition Wild  

Fundamental Accounting Principles 24th Edition Wild Test Bank 2019 (9781259916960) (1259916960). Instant test bank download. Download from h...

Advertisement