Paid 1,800 cash for insurance effective July 1.

Accounting
Tutor: None Selected Time limit: 1 Day

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How is this posted in T accounts

Oct 26th, 2015

Thank you for the opportunity to help you with your question!

Hello Drae, for this transaction, money is moving out so:

in the Insurance a/c you will Debit

then you will credit the source e.g if it came from the bank, credit the cash in bank a/c

Hope this did assist. Please let me know if you need any clarification. I'm always happy to answer your questions. I will be pleased if you make me your private tutor. Thank you
Oct 26th, 2015
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Thank you Professor Gibson and have made you my private tutor

Oct 26th, 2015

Thank you, i will be of assistance to you, any time you need me.....

Oct 26th, 2015
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Professor Gibson being that the insurance is effective July 1 does that change the T account postung? or not

Oct 26th, 2015

that should not affect the posting, because the transaction is already sunk.....

Oct 26th, 2015
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Great thanks

Oct 26th, 2015

Welcome....

Oct 26th, 2015
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Billed customers 3,700 for cleaning supplies. Same as previous question T account posting

Oct 26th, 2015

i think you received from customers, in that case...... Credit the Cleaning supplies a/c and Debit your Cash in bank a/c 

Oct 26th, 2015
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here's a tough one: paid 1,000 on account owed for a truck & 500 on account owed for cleaning supplies ? what a/c title and posting

Oct 27th, 2015

here's a tough one: paid 1,000 on account owed for a truck & 500 on account owed for cleaning supplies ? what a/c title and posting

Oct 27th, 2015

here's a tough one: paid 1,000 on account owed for a truck & 500 on account owed for cleaning supplies ? what a/c title and posting

Oct 27th, 2015

here's a tough one: paid 1,000 on account owed for a truck & 500 on account owed for cleaning supplies ? what a/c title and posting

Oct 27th, 2015

Did you see the last question?

Oct 27th, 2015

How are the net revenues for a company defined in the income statement? 

Oct 30th, 2015

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Oct 26th, 2015
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Oct 26th, 2015
Dec 11th, 2016
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