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MCD2160 - T2 - 2025 MCD2160 Trimester 2 2025 Mid Test Week 7 in Tutorial 7 Period 2

Single choice

In which of the following scenarios are the increases and decreases in accounts not balanced?

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Question restatement: The prompt asks, 'In which of the following scenarios are the increases and decreases in accounts not balanced?' and provides a single answer option: 'e. Wages owing are recorded as increasing an expense and decreasing a liability'. The answer options list is empty, so we cannot analyze multiple choices and must work with the information given. Concept groundwork: In double-entry accounting, every transaction must keep the accounting equation in balance by recording equal debits and credits. For accruals like wages, the typical entry to record wages earned but not yet paid is Debit Wages Expense and Cr......Login to view full explanation

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Accounts are found in the Blank 1 Question 7[select: , General Ledger, T, analysed, Double Entry] . Accounts can be presented in the Blank 2 Question 7[select: , General Ledger, T, analysed, Double Entry] format or the columnar format. Once a transaction is Blank 3 Question 7[select: , General Ledger, T, analysed, Double Entry] , entries can be made to the related accounts and the Blank 4 Question 7[select: , General Ledger, T, analysed, Double Entry] rule followed. Each account has a name. To record a transaction in an account, the same Blank 5 Question 7[select: , Date, Particulars, Debit, Credit] is recorded in both accounts because they refer to the same transaction. In the Blank 6 Question 7[select: , Date, Particulars, Debit, Credit] column, write the name of the corresponding or other account so the two accounts cross reference to one another. The amount is written in the Blank 7 Question 7[select: , Date, Particulars, Debit, Credit] and Blank 8 Question 7[select: , Date, Particulars, Debit, Credit] column accordingly. For example, to record the transaction: “On 1 January, the owner contributes $10,000 cash as capital to start their business”. In the Cash at Bank Account below, the date is Jan 1, the corresponding account name is Capital, and the amount is 10,000 on the debit side. In the Capital Account below, the date is Jan 1, the corresponding account name is Cash at Bank, and the amount is 10,000 on the credit side. [table] Cash at Bank Account Blank 9 Question 7 DateParticularsDebitCredit | Blank 10 Question 7 DateParticularsDebitCredit | Blank 11 Question 7 DateParticularsDebitCredit $ | Date | Particulars | Credit $ Blank 12 Question 7 1 JanuaryCapital$10,000Cash at bank | Blank 13 Question 7 1 JanuaryCapital$10,000Cash at bank | Blank 14 Question 7 1 JanuaryCapital$10,000Cash at bank | | | | | | | | [/table] [table] Capital Account Date | Particulars | Debit $ | Blank 15 Question 7 DateParticularsDebitCredit | Blank 16 Question 7 DateParticularsDebitCredit | Blank 17 Question 7 DateParticularsDebitCredit $ | | | Blank 18 Question 7 1 JanuaryCapital$10,000Cash at bank | Blank 19 Question 7 1 JanuaryCapital$10,000Cash at bank | Blank 20 Question 7 1 JanuaryCapital$10,000Cash at bank [/table]

Using the table below, which columns are affected if the following transaction occurs 'Cash of $200 is received for passing go'.

Hangry Donuts is preparing to provide the catering for the launch of the startup UniRideShare. The business is owned by friends Sergeo, Grace and Ariadne. UniRideShare helps students get to uni by carpooling with other students. The business orders $3,250 worth of donuts for their launch event and is paying using the cryptocurrency Bitcoin.  Select the flows and accounts that the business would use to record this transaction. Please choose a drop-down selection for every box. Assets = Liabilities + Equity [ Select ] [ Select ] [ Select ] [ Select ] [ Select ] [ Select ]

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