On November 6 Jason Taylor withdrew $90,000 from personal savings and deposited it in a new business checking account for JT's Consulting Services. Which account is credited? * Withdrew Capital Cash Jason Taylor Investment On November 7 JT's Consulting Services issued Check 1001 for $10,000 to purchase a computer and other equipment. Which account is debited? * Capital Equipment Investment Cash Computor

Quickbooks Online Accounting
3rd Edition
ISBN:9780357391693
Author:Owen
Publisher:Owen
Chapter4: Operating Activities: Sales And Cash Receipts
Section: Chapter Questions
Problem 3.7C
icon
Related questions
Topic Video
Question
choose the correct answer
9:10
On November 6 Jason Taylor
withdrew $90,000 from personal
savings and deposited it in a new
business checking account for JT's
Consulting Services. Which account
is credited? *
Withdrew
Сapital
Cash
Jason Taylor
Investment
On November 7 JT's Consulting
Services issued Check 1001 for
$10,000 to purchase a computer and
other equipment. Which account is
debited?
Сaptal
Equipment
Investment
Cash
Computer
Transcribed Image Text:9:10 On November 6 Jason Taylor withdrew $90,000 from personal savings and deposited it in a new business checking account for JT's Consulting Services. Which account is credited? * Withdrew Сapital Cash Jason Taylor Investment On November 7 JT's Consulting Services issued Check 1001 for $10,000 to purchase a computer and other equipment. Which account is debited? Сaptal Equipment Investment Cash Computer
Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Accounting Equation
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
Quickbooks Online Accounting
Quickbooks Online Accounting
Accounting
ISBN:
9780357391693
Author:
Owen
Publisher:
Cengage
Century 21 Accounting General Journal
Century 21 Accounting General Journal
Accounting
ISBN:
9781337680059
Author:
Gilbertson
Publisher:
Cengage
Century 21 Accounting Multicolumn Journal
Century 21 Accounting Multicolumn Journal
Accounting
ISBN:
9781337679503
Author:
Gilbertson
Publisher:
Cengage
Excel Applications for Accounting Principles
Excel Applications for Accounting Principles
Accounting
ISBN:
9781111581565
Author:
Gaylord N. Smith
Publisher:
Cengage Learning
College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub
Pfin (with Mindtap, 1 Term Printed Access Card) (…
Pfin (with Mindtap, 1 Term Printed Access Card) (…
Finance
ISBN:
9780357033609
Author:
Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher:
Cengage Learning