Answer to Question 1:
Cash is an asset.
Answer to Question 2:
Dividends represents the earnings taken out by the owners.
Answer to Question 3:
Accounts payable represents an amount owed by the company.
Answer to Question 4:
Supplies expense would be reported on the income statement.
Answer to Question 5:
Accounts payable is a liability
Question #1 ts Which of the following is an asset? npts Rent Expense Common Stock Accounts...
Question #1 Indicate from the drop down menu which financial statement each of the following accounts would appear on. Equipment Rent Expense Cash Accounts Receivable Supplies Notes Payable Common Stock Accounts Payable Prepaid Rent Dividends Revenue Submit Question 0 of 5 Attempts Used MacBook Ai Question #2 Indicate from the drop down menu whether each of the following accounts would have a debit or credit normal balance. Accounts Payable Common Stock Equipment Prepaid Rent Salary Expense Retained Earnings Supplies Revenue...
hurs 1/31 (ONE ATTEMPTED ONLY) Question #6 Which of the following is something of value owned by the company? Supplies Expense Revenue Accounts Payable Cash Submit Question 0 of 1 Attempts Used! Student Center | AccountingPass İsmail İbrahim urs 1/31 (ONE ATTEMPTED ONLY) Question #7 Cally Company makes a payment of $500 on its accounts payable. How does this effect the accounting equation? Assets increase and Equity Decreases Assets increase,and Liabilities increase Assets decrease and Liabilities increase Assets decrease and...
Thurs 1/31 (ONE ATTEMPTED ONLY) 14 Question #14 CDM Companyhas the following account balances Cash Accounts Receivable Accounts Payable Supplies Revenue Supplies Expense What is net income for the period? 3,318 $2,450 $3,410 $1,500 $8,814 $2,700 Common Stock Rent Expense Dividends Retained Earnings Salary Expense $1,200 $2,700 $1,834 $2,254 $1,176 $2,238 $7,268 $3,318 $8,814 $2,658 Submit Question MacBook Ai Thurs 1/31 (ONE ATTEMPTED ONLY) Question #15 CCC Inc. has the following account balances. Cash Accounts Receivable Accounts Payable Supplies Revenue...
State whether each of the following is an asset, liability, equity, revenue, or expense accountingpass.com Solved: Identifying debit and credit balancesRequiredindicat Question #1 Indicate from the drop down menu what type of account the item is. Accounts Receivable Retained Earnings Salary Expense Common Stock Rent Expense Supplies Expense Rent Revenue Dividends Accounts Payable 5 Supplies Cash Submit Question 0 of 5 Attempts Used!
Student Center |AccountingPass Question #3 ents Sote Company has the following account balances for the year ending 12/31/X. All accounts have a normal balance Cash Supplies Accounts Payable Accounts Receivable Common Stock Retained Earnings Dividends Revenue Rent Expense Supplies Expense 5,025 1,500 $3,700 $2,500 $2,300 $1,700 $2,575 $10,700 $1,300 $2,600 empts Salary Expense$2,900 Income Statement ue $10700 $1300 $2900 $2600 Expense upplies Expense Total Expenses Net Income $3900 Using the information above, prepare the statement of retained earnings. Statement of...
All Assig Questio 2 $6,905 $1,700 Cash Supplies Accounts Payable Accounts Receivable $1,800 Common Stock Retained Earnings $2,000 Dividends Revenue Rent Expense Supplies Expense $2,600 Salary Expense Using the information above, prepare the Income Statement $2,400 $1,600 $995 $11,500 $2,100 $1,400 ncome Statement Total Expenses Net Income Question Cash Supplies Accounts Payable Accounts Receivable Common Stock Retained Earnings Dividends Revenue Rent Expense $3,066 $2,300 $2,500 $2,000 $1,200 $2,200 $4,834 $11,400 $1,900 $1,500 $1.700 Expense Salary Expense Income Statement $11400 $1900...
1. Which of the following is something of value owned by the company? (a)Cash (b) Common Stock (c) Supplies Expense (d) Notes Payable 2. Windward Inc. makes a payment of $500 on its accounts payable. How does this effect the accounting equation? a. Assets decrease and Liabilities decrease b. Assets increase and Equity Decreases c. Assets decrease and Equity decreases d. Assets increase and Liabilities increase e. Assets decrease and Liabilities increase 3. Chitron Corporation earns $750 working for a...
Cash Buidings Accounts Payable Utilities Expense Rent Expense Supplies expense $ 33,000 $ 64,000 $ 11,000 $3,000 $ 18,000 $ 4,000 Service Revenue $ 120,000 Salaries Expense $ 24,000 Equipment $ 86,000 Supplies $6,000 Notes payable $ 42,000 Accounts Receivables $ 21,000 In addition, the company had common stock of $55,000 at the beginning of the year and issued an additional $10,000 during the year. The company also had retained earnings of $23,000 at the beginning of the year and...
Receipt of cash before a good is provided or service is performed 1- increases an asset and increases a revenue. decreases a liability and increases Shareholders’ Equity. decreases a revenue and increases Shareholders’ Equity. increases an asset and increases a liability. 2- Payment of a dividend increases Expenses and decreases Cash. decreases Cash and increases Shareholders’ Equity. decreases Cash and decreases Retained Earnings. increases Retained Earnings and increases Expenses. 3- Accounting systems should record all economic events. events that result...
Accounts Cash Salaries expense Accounts payable Retained earnings Utilities expense Supplies Service revenue Common stock Balances $ 5,400 2,200 3,400 3,900 1,200 13,800 9,300 6,000 Required: Use only the appropriate accounts to prepare an income statement. COWBOY LAW FIRM Income Statement For the Period Ended December 31 Expenses: Total expenses Below are incomplete financial statements for Bulldog, Inc. Required: Calculate the missing amounts. BULLDOG, INC. Income Statement Revenues 39,000 Expenses: Salaries Advertising Utilities Net income 6,000 4.000 BULLDOG, INC. Statement...