Which of the following is a transaction for Tyler Corporation?

Tyler pays its employees $400 for work done.

Tyler considers renting office space that will cost $1,500 per month.

Tyler agrees to perform services for a client, which will cost $7,000.

Tyler places an order for supplies that will be delivered in two weeks.

The supplies cost $200.

Question

Joe Gross

Business

10 August, 00:03

Which of the following is a transaction for Tyler Corporation?

Tyler pays its employees $400 for work done.

Tyler considers renting office space that will cost $1,500 per month.

Tyler agrees to perform services for a client, which will cost $7,000.

Tyler places an order for supplies that will be delivered in two weeks.

The supplies cost $200.

+5

Answers (2)

Know the Answer?

Gaines · Answer 1

Tyler pays its employees $400 for work done.

Explanation:

An accounting transaction is a financial event that has occurred already and can be recorded in an organization's financial statement.

In this case, the statement "Tyler pays its employees $400 for work done" is an example of a financial transaction because it has already occurred.

Davies · Answer 2

Tyler pays its employees $400 for work done.

Explanation:

A business transaction is an activity or event that can be measured in terms of money and which affects the financial position or operations of the business entity. A business transaction has an effect on any of the accounting elements - assets, liabilities, capital, income, and expense.

Tyler pays its employees $400 for work done. This statement shoes that an action that will affect expenses account and cash or bank account has been carried out, so this is a business transaction.