2. Transaction Analysis

When consolidating financial data from the Peoria, Champaign, and Rockford branches, which journal entry correctly records the combined cash balances if each branch reports $5,000, $3,000, and $2,000 in cash, respectively?

Which of the following journal entries correctly records the purchase of equipment for $35,000 in cash?

After recording the journal entries in requirement 2, what should the balance in the Cash account be?

In the context of journal entries and the use of primary keys in accounting tables, if 'Customer ID' is the primary key in a customer table, which field should be moved to a separate table to maintain proper database normalization?

Which of the following transactions would require a debit to the Cash account?

With double-entry accounting, each transaction requires:

17. Which of the following transactions will reduce your checking account balance immediately?

Companies can improve job cost accuracy by using which of the following methods?

1. What is the name of a journal with two amount columns in which all kinds of entries can be recorded?

Which of the following best describes a journal with two amount columns in which all kinds of entries can be recorded?

Which of the following transactions is recorded with a credit to Accounts Receivable?

Which of the following is the correct journal entry for Fantastic Tea receiving $3,000 cash from Don Smith in exchange for common stock on December 1?

In the context of journal entries for standard costing, which variance is calculated using the formula: (actual cost per unit - standard cost per unit) \( \times \) actual quantity?

Which account is debited in the journal entry to record indirect labor costs used in production?

When recording the estimate of bad debt expense at the end of an accounting period, which of the following journal entries is correct?