An accountant has debited an asset account for $800 and credited a liability account for $700. Which of the following would be an incorrect way to complete the recording of the transaction? Select one

A. Credit an asset account for $100.
B. Credit another liability account for $100.
C. Credit a stockholders' equity account for $100.
D. Debit a stockholders' equity account for $100.

Jurvin enterprises is a manufacturing company that had no beginning inventories. a subset of the transactions that it recorded during a recent month is shown below. $76,700 in raw materials were purchased for cash. $71,400 in raw materials were used in production. of this amount, $66,300 was for direct materials and the remainder was for indirect materials. total labor wages of $151,700 were incurred and paid. of this amount, $134,300 was for direct labor and the remainder was for indirect labor. additional manufacturing overhead costs of $126,300 were incurred and paid. manufacturing overhead of $126,800 was applied to production using the company's predetermined overhead rate. all of the jobs in process at the end of the month were completed. all of the completed jobs were shipped to customers. any underapplied or overapplied overhead for the period was closed to cost of goods sold. required: 1. post the above transactions to t-accounts.2. determine the cost of goods sold for the period.

Zapper has beginning equity of $257,000, net income of $51,000, dividends of $40,000 and investments by stockholders of $6,000. its ending equity is

Which of the following statements about cash basis accounting is true? a. it is more complicated than accrual basis accounting. b. the irs allows all types of corporations to use it. c. it follows gaap standards. d. it ensures the company always knows how much cash flow it has.