Assume that the chart of accounts for Roth Co. includes the…

Assume that the chart of accounts for Roth Co. includes the following accounts:  Cash, Accounts Receivable, Equipment, Accounts Payable, Sam Roth, Capital, Sam Roth, Drawing, Fees Earned, Salary Expenses, and Utilities Expense. On July 3,Roth Co. purchased equipment on account, $5,000.  Using the chart of accounts above, indicate the account that should be recorded in the Description column of the Journal item (2) as the credit account for the $5,000 amount.                                               JOURNAL                                                  page 2   date description p.ref. debit CREDIT 7/03/Y6 (1)   $5,000       (2)     $5,000      

The balance in the equipment account before adjustment on De…

The balance in the equipment account before adjustment on December 31 at the end of the current year is $60,000 and the balance of accumulated depreciation on December 31 at the end of the current year is $24,000. The adjustment amount for depreciation for the year is $12,000. What account should be debited in the journal (1) and for what amount to record the adjusting entry to record this depreciation based on this information?                                       JOURNAL                                                     Page     25 date description p.ref. debit CREDIT Adjusting Entries 12/31 (1)   ?       (2)     ?  

The balance in the supplies account before adjustment on Dec…

The balance in the supplies account before adjustment on December 31 at the end of the current year is $6,000. The amount of supplies on hand is $1,000. What account should be credited in the journal (2) and for what amount to record the adjusting entry for supplies based on this information?                                       JOURNAL                                                     Page     25 date description p.ref. debit CREDIT Adjusting Entries 12/31 (1)   ?       (2)     ?