Equipment is purchased on credit. What effect does this transaction have on the accounting equation?

For the following  transaction provided and select the appropriate journal entry. Oct 31.     The trial balance lists Unearned Revenue of $20,000. At the end of the month one-fourth of the balance had been earned.

A company received its telephone bill in the amount of $250, and immediately paid it.  The general journal entry to record this transaction will include a

For the following  transaction provided and select the appropriate journal entry. Oct 31.      Depreciation on the equipment for October is $8,200.

For the following  transaction provided and select the appropriate journal entry. Oct 1.     Purchased supplies on account for $4,300.

For the following  transaction provided and select the appropriate journal entry. Oct 2.      Billed customers $13,200 for services performed.

Which one of the following is the last step in the accounting cycle?

Prepaid assets, depreciation, accrued expenses, unearned revenues, and accrued revenues are all examples of:

All of the following accounts have normal debit balances except

GAAP refers to