Homework Answers
Correct answer----------(a) Accounts receivable.
.
Accounts receivable is created when sales are made on account. Accounts receivables are converted into cash when customer pays their due so claim against customer are called accounts receivables.
.Accounts payable are claims to be paid by the business for purchases and expenses made on account.
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Calculator Print Item Click to watch the Tell Me More Learning Objective 1. A claim against...
Calculator Print Item Click to watch the Tell Me More Learning Objective 5 video and then...
Calculator Print Item Click to watch the Tell Me More Learning Objective 5 video and then answer the questions below 1. A $20 par value stock in a 2:1 stock split will yield a new par value of a. $40. b. $30. c. $10 d. no change. Feedac
Click to watch the Tell Me More Learning Objective 3 video and then answer the questions...
Click to watch the Tell Me More Learning Objective 3 video and then answer the questions below. 1. Which of the following accounts are NOT likely appear in a job order cost system of a service business? a. Finished Goods b. Work in Process c. Factory Overhead d. None of these choices are correct. 2. The primary costs for a service business includes a. materials b. supplies C. direct labor d. All of these choices are correct.
Click to watch the Tell Me More Learning Objective 1 video and the answer the questions...
Click to watch the Tell Me More Learning Objective 1 video and the answer the questions below. 1. The area of accounting that provides external users with information is called a managerial accounting b. financial accounting tax accounting. d. natural accounting 2. Which of the following is NOT a guideline of ethical conduct? dently antical decision by using your personal ethical standards of honesty and fairness b. Identify the consequences of the decision and its effect on others Make a...
Click to watch the Tell Me More Learning Objective 2 video and then answer the questions...
Click to watch the Tell Me More Learning Objective 2 video and then answer the questions below. 1. While calculating cash flows from operating activities using the indirect method, which of the following is added to the net income? a. Increase in accounts payable b. Decrease in sundry creditors c. Decrease in common stock d. Increase in inventories 2. Silver Trading Corp. recorded a net income of $200,000 for the year 20X1. For the same period, the company purchased land...
Click to watch the Tell Me More Leaming Objective 4 video and then answer the questions below. 1. Under the allowan...
Click to watch the Tell Me More Leaming Objective 4 video and then answer the questions below. 1. Under the allowance method for uncollectible accounts, the journal entry to record the estimate of uncollectible accounts would include a credit to a. Accounts Receivable. b. Bad Debt Expense. C. Allowance for Doubtful Accounts. d. Cash 2. Under the allowance method for uncollectible accounts, the journal entry to record the write-off of an account receivable would include a a. credit; Bad Debt...
Click to watch the Tell Me More Learning Objective 4 video and then answer the questions...
Click to watch the Tell Me More Learning Objective 4 video and then answer the questions below. 1. While preparing the cash flow statement of a company, its accountant observed an increase of $100,000 in the value of cash and cash equivalents of the company. Which of the following is true of the journal entry the accountant is likely to prepare to record the increase of cash and cash equivalents for the year assuming that the company was likely to...
Click to watch the Tell Me More Learning Objective 4 video and then answer the questions...
Click to watch the Tell Me More Learning Objective 4 video and then answer the questions below. 1. While preparing the cash flow statement of a company, its accountant observed an increase of $100,000 in the value of cash and cash equivalents of the company. Which of the following is true of the journal entry the accountant is likely to prepare to record the increase of cash and cash equivalents for the year assuming that the company was likely to...
Click to watch the Tell Me More Learning Objective 1 video and then answer the questions...
Click to watch the Tell Me More Learning Objective 1 video and then answer the questions below. 1. Which of the following is true of currently attainable standards? a. It demands maximum efficiency and assumes that there will be no inefficiency. b. It offers less behavioral benefits as compared to ideal standards. c. It can be achieved only if everything operates perfectly. d. It can be achieved under efficient operating conditions. 2. Which of the following is an advantage of...
Help to correct these Accounting I class Cengage exercise SHOW Me How Calculator Print Item Accounts...
Help to correct these Accounting I class Cengage
exercise
SHOW Me How Calculator Print Item Accounts Receivable Ledger The following revenue journal is for Bowman Cleaners Inc., assume that the beginning balances for the customer accounts were zero, except for Tillman Inc. which had a $660 beginning balance. In addition, there were no collections during the period. REVENUE JOURNAL Invoice Post Accounts Rec. Dr. Date No. Account Debited Ref. Fees Earned Cr. 20Y3 May 1 112 Hazmat Safety Co. $3,265...
Calculator W oraw Classes Login - FAFSA on the Web Click to watch the Tell Me...
Calculator W oraw Classes Login - FAFSA on the Web Click to watch the Tell Me More Learning Objective 4b video and then answer the questions below. 1. Gamet Developers Inc., a manufacturing company, provides the following data: Standard variable overhead rate (SVOR) $4 per direct labor hour Actual variable overhead costs (AH) $900 Standard hours allowed per unit 0.20 hours Actual direct labor hours worked (AH) 120 hours Actual production 1,200 units What is the total variable overhead variance?...
Calculator Print Item Click to watch the Tell Me More Learning Objective 5 video and then answer the questions below 1. A $20 par value stock in a 2:1 stock split will yield a new par value of a. $40. b. $30. c. $10 d. no change. Feedac
Click to watch the Tell Me More Learning Objective 3 video and then answer the questions below. 1. Which of the following accounts are NOT likely appear in a job order cost system of a service business? a. Finished Goods b. Work in Process c. Factory Overhead d. None of these choices are correct. 2. The primary costs for a service business includes a. materials b. supplies C. direct labor d. All of these choices are correct.
Click to watch the Tell Me More Learning Objective 1 video and the answer the questions below. 1. The area of accounting that provides external users with information is called a managerial accounting b. financial accounting tax accounting. d. natural accounting 2. Which of the following is NOT a guideline of ethical conduct? dently antical decision by using your personal ethical standards of honesty and fairness b. Identify the consequences of the decision and its effect on others Make a...
Click to watch the Tell Me More Learning Objective 2 video and then answer the questions below. 1. While calculating cash flows from operating activities using the indirect method, which of the following is added to the net income? a. Increase in accounts payable b. Decrease in sundry creditors c. Decrease in common stock d. Increase in inventories 2. Silver Trading Corp. recorded a net income of $200,000 for the year 20X1. For the same period, the company purchased land...
Click to watch the Tell Me More Leaming Objective 4 video and then answer the questions below. 1. Under the allowance method for uncollectible accounts, the journal entry to record the estimate of uncollectible accounts would include a credit to a. Accounts Receivable. b. Bad Debt Expense. C. Allowance for Doubtful Accounts. d. Cash 2. Under the allowance method for uncollectible accounts, the journal entry to record the write-off of an account receivable would include a a. credit; Bad Debt...
Click to watch the Tell Me More Learning Objective 4 video and then answer the questions below. 1. While preparing the cash flow statement of a company, its accountant observed an increase of $100,000 in the value of cash and cash equivalents of the company. Which of the following is true of the journal entry the accountant is likely to prepare to record the increase of cash and cash equivalents for the year assuming that the company was likely to...
Click to watch the Tell Me More Learning Objective 4 video and then answer the questions below. 1. While preparing the cash flow statement of a company, its accountant observed an increase of $100,000 in the value of cash and cash equivalents of the company. Which of the following is true of the journal entry the accountant is likely to prepare to record the increase of cash and cash equivalents for the year assuming that the company was likely to...
Click to watch the Tell Me More Learning Objective 1 video and then answer the questions below. 1. Which of the following is true of currently attainable standards? a. It demands maximum efficiency and assumes that there will be no inefficiency. b. It offers less behavioral benefits as compared to ideal standards. c. It can be achieved only if everything operates perfectly. d. It can be achieved under efficient operating conditions. 2. Which of the following is an advantage of...
Help to correct these Accounting I class Cengage
exercise
SHOW Me How Calculator Print Item Accounts Receivable Ledger The following revenue journal is for Bowman Cleaners Inc., assume that the beginning balances for the customer accounts were zero, except for Tillman Inc. which had a $660 beginning balance. In addition, there were no collections during the period. REVENUE JOURNAL Invoice Post Accounts Rec. Dr. Date No. Account Debited Ref. Fees Earned Cr. 20Y3 May 1 112 Hazmat Safety Co. $3,265...
Calculator W oraw Classes Login - FAFSA on the Web Click to watch the Tell Me More Learning Objective 4b video and then answer the questions below. 1. Gamet Developers Inc., a manufacturing company, provides the following data: Standard variable overhead rate (SVOR) $4 per direct labor hour Actual variable overhead costs (AH) $900 Standard hours allowed per unit 0.20 hours Actual direct labor hours worked (AH) 120 hours Actual production 1,200 units What is the total variable overhead variance?...
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