题目
题目
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Question textGino's Gustoso started a pizza take away. "Gino's Pizzeria. Double entry accounting; Identify the two sides of each of the following transactions. In each transaction; if applicable ensure that you record the ASSET item; FIRST. [table] Transaction | Item | Element | Up / Down | Amount Gino deposited $10000 in a business bank account for Gino's Pizzeria. | Answer 1 Question 1 Accounts PayableAccounts ReceivableCapitalScooterLoanKitchen EquipmentInsuranceWagesRentSupplies UsedSalesBank | Answer 2 Question 1 Owners EquityLiabilityAssetRevenueExpense | Answer 3 Question 1 DownUp | $ 10,000 Answer 4 Question 1 Accounts PayableAccounts ReceivableCapitalScooterLoanKitchen EquipmentInsuranceWagesRentSupplies UsedSalesBank | Answer 5 Question 1 Owners EquityLiabilityAssetRevenueExpense | Answer 6 Question 1 DownUp | $ 10,000 The business paid $3500 for a gas cooking stove | Answer 7 Question 1 Accounts PayableAccounts ReceivableLoanCapitalScooterKitchen EquipmentInsuranceWagesRentSupplies UsedSalesBank | Answer 8 Question 1 Owners EquityLiabilityAssetRevenueExpense | Answer 9 Question 1 DownUp | $ 3,500 Answer 10 Question 1 Accounts PayableAccounts ReceivableCapitalLoanScooterKitchen EquipmentInsuranceWagesRentSupplies UsedSalesBank | Answer 11 Question 1 Owners EquityLiabilityAssetRevenueExpense | Down | $ 3,500 Food supplies USED; purchased on credit from Buonissimo Groceries for $2500 | Answer 12 Question 1 Accounts PayableAccounts ReceivableCapitalLoanScooterKitchen EquipmentInsuranceWagesRentSupplies UsedSalesBank | Expense | Answer 13 Question 1 DownUp | $ 2,500 Answer 14 Question 1 Accounts PayableAccounts ReceivableCapitalLoanScooterKitchen EquipmentInsuranceWagesRentSupplies UsedSalesBank | Answer 15 Question 1 Owners EquityLiabilityAssetRevenueExpense | Answer 16 Question 1 DownUp | $ 2,500 Cash of $4,200 received from account customer; Luigi & Co Lawyers. | Bank | Answer 17 Question 1 Owners EquityLiabilityAssetRevenueExpense | Answer 18 Question 1 DownUp | $ 4,200 Answer 19 Question 1 Accounts PayableAccounts ReceivableCapitalLoanScooterKitchen EquipmentInsuranceWagesRentSupplies UsedSalesBank | Answer 20 Question 1 Owners EquityLiabilityAssetRevenueExpense | Answer 21 Question 1 DownUp | $ 4,200 Paid Rent $2800 | Answer 22 Question 1 Accounts PayableAccounts ReceivableCapitalScooterLoanKitchen EquipmentInsuranceWagesRentSupplies UsedSalesBank | Answer 23 Question 1 Owners EquityLiabilityAssetRevenueExpense | Answer 24 Question 1 DownUp | $ 2,800 Answer 25 Question 1 Accounts PayableAccounts ReceivableCapitalScooterLoanKitchen EquipmentInsuranceWagesRentSupplies UsedSalesBank | Answer 26 Question 1 Owners EquityLiabilityAssetRevenueExpense | Answer 27 Question 1 DownUp | $ 2,800 [/table]

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The question presents a set of transactions for a new pizza business and asks you to identify the two sides of each transaction in double-entry bookkeeping. Since the data provided is a long, tabular fill-in exercise with several blanks, I will walk through each transaction, explain what should happen in terms of debits (assets and other accounts that increase) and credits (accounts that decrease or equity/liabilities that increase), and then relate that to the specific fill-ins shown in the answer list. This will help you understand why each entry is recorded the way it is and why certain terms appear in the given solutions. Transaction 1: Gino deposited $10,000 in a business bank account for Gino's Pizzeria. - What should happen: You receive cash in the bank, which is an asset, so Bank (an asset) increases. The source of the funds is the owner’s investment, which increases Owners’ Equity (Capital). So the two sides are: Debit Bank (Asset) Up 10,000; Credit Capital (Owners’ Equity) Up 10,000. - Why this maps to the provided items: The first line item in the answers shows Bank as the asset involved and Up as the change type, and Capital as the other account with Up reflecting the increase in Owners’ Equity. This aligns with the st......Login to view full explanation

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

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