Below are several transactions for Scarlet Knight Corporation. A junior accountant, recently employed by the company, proposes to record the following transactions. External Transaction Accounts Debit Credit
1. Owners invest $12,500 in the company and receive common stock. Common Stock 12,500
Cash 12,500
2. Receive cash of $3,500 for services provided in the current period. Cash Service Revenue 3,500
3,000
3. Purchase office supplies on account, $250. Supplies 250
Cash 250

4. Pay $550 for next month's rent. Rent Expense 550
Cash 550

5. Purchase office equipment with cash of $1,950. Cash 1,950
Equipment 1,950

Required:
Assess whether the junior accountant correctly proposes how to record each transaction. If incorrect, provide the correction.

Scarlet Knight Corporation

Correct postings:

Accounts                 Debit    Credit

1. Cash                    12,500

  Common Stock                 12,500

2. Cash                     3,500

   Service Revenue               3,500

3. Supplies                 250

  Cash                                      250

4. Rent Expense       550

   Cash                                    550

5. Equipment         1,950

   Cash                                 1,950

Explanation:

a) Data and Calculations:

Accounts                 Debit    Credit

1. Common Stock    12,500

  Cash                                   12,500

2. Cash                     3,500

   Service Revenue               3,000

3. Supplies                 250

  Cash                                      250

4. Rent Expense       550

   Cash                                    550

5. Cash                   1,950

   Equipment                        1,950

b) The accounting rule is to debit the value receiver and to credit the value giver.  Generally, assets, expenses, and losses normally have debit balances while liabilities, equities, incomes, and gains have credit balances.

answer; i believe the correct answer is (a) motion for change of venue;

ans.

heterothermic organisms include those organisms that can switch between homeothermic (having body temperature higher than environment) and poikilothermic (having variation in internal body temperature) strategies.

some migratory birds show heterothermy as they decrease their metabolic rate during cold nights to keep their body temperature low. drop in metabolic rate allows increase in production efficiency of birds that reduces the internal body temperature to make it equal to external cold temperature during cold nights.

thus, the correct answer is 'birds allow their temperature drop in order to increase their production efficiency.'