Using the chart of accounts in figure determine the changes, Accounting Basics

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Using the chart of accounts in figure determine the changes

Question: Using the chart of accounts in Figure, determine the changes to the balance sheet, income statement, job cost ledger, and equipment ledger as the result of paying a $5,000 invoice for concrete charged to job cost code 302.01.02620M, $2,273.80 for federal employment taxes, and $1,732 for health insurance. The invoices were previously entered into the accounting system.

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Accounting Basics: Using the chart of accounts in figure determine the changes

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Accounting Basics: Using the chart of accounts in figure determine the changes

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