Homework Answers
| Option C is the answer | |
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Change fund is controlled by the controller. Change fund is recorded as current asset on the asset side of the balance sheet Comment if you face any issues |
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The Change fund is recorded: a. on the liabilities side of a balance sheet. b. on...
The Petty Cash Fund is listed on the: a. debit side of an income statement. b....
The Petty Cash Fund is listed on the: a. debit side of an income statement. b. assets side of a balance sheet. c. credit side of an income statement. d. liabilities side of a balance sheet.
only final answers plz 8. DW has a beginning Retained Earings balance of 551,100. If during...
only final answers plz
8. DW has a beginning Retained Earings balance of 551,100. If during the year DW paid dividends of S4,300 and had net income of $22,500, then what was the ending Retained Earnings balance? A. S73,600. B. $69,300. C. $77,900. D. $46,800. 9. Which of the following is the correct order for preparing the financial statements listed? A. Balance sheet, statement of stockholders' equity, and income statement. B. Balance sheet, income statement, and statement of stockholders' equity....
7. An account will have a credit balance if the A)debits exceed the credits. B)credits exceed...
7. An account will have a credit balance if the A)debits exceed the credits. B)credits exceed the debits. C)first transaction entered was a credit. D)last transaction entered was a credit. 10. Which of the following is incorrect as to category, normal balance, financial statement, to increase, to decrease A)Cash - asset, debit, balance sheet, credit, debit B)Accounts Payable - liabilities, debit, balance sheet, credit, debit C)Common Stock - shareholders equity, debit, balance sheet, credit, debit D)Service Revenue - revenue, credit,...
D) 1.39% 10) According to GAAP, assets and liabilities are typically recorded on the balance sheet...
D) 1.39% 10) According to GAAP, assets and liabilities are typically recorded on the balance sheet at: A) salvage value. B) market value. C) historical cost plus depreciation. D) historical cost less depreciation. 16) - 17) A canital invant
1) A worksheet is a: A) formal document shown with a company's annual report. B) formal...
1) A worksheet is a: A) formal document shown with a company's annual report. B) formal document required by the Canada Revenue Agency. C) formal document required by creditors. D) multicolumn document used by accountants to aid in the preparation of the financial statements. 2) All of the following are listed on a worksheet except: A) a debit and credit column for a statement of owner's equity. B) a debit and credit column for an income statement. C) a debit...
Consider the following company's balance sheet and income statement. Balance Sheet Liabilities and Equity Assets Cash...
Consider the following company's balance sheet and income statement. Balance Sheet Liabilities and Equity Assets Cash Accounts receivable Inventory Total current assets Fixed assets $ 12,000 Accounts payable 67,000 Notes payable $ 38,000 20,000 48,000 127,000 Total current liabilities 58,000 20,000 125,000 $203,000 76,000 Long-term debt Equity $203,000 Total liabilities and equity Total assets Income Statement Sales (all on credit) Cost of goods sold Gross margin Selling and administrative expenses Depreciation EBIT Interest expense Earnings before tax Taxes Net income...
An Internal Service Fund would report which of the following items on its balance sheet a. Reserved fund balance b. Unre...
An Internal Service Fund would report which of the following items on its balance sheet a. Reserved fund balance b. Unrestricted net assets c. Designated fund balance d. Capital contributions
1. The balance sheet lists which of the following? a. revenues, expenses, gains, and losses b....
1. The balance sheet lists which of the following? a. revenues, expenses, gains, and losses b. assets, liabilities, and owners’ equity c. revenues, expenses, gains, and distributions to owners d. assets, liabilities, and investments by owners 2. Exchanges of assets for assets have what effect on equity? a. There is no relationship between assets and equity b. increase equity c. may have no impact on equity d. decrease equity 3. Identify the correct components of the income statement. a. revenues,...
Period costs indude Oa. current liabilities on the balance sheet Ob. current assets on the balance...
Period costs indude Oa. current liabilities on the balance sheet Ob. current assets on the balance sheet Oc operating costs that are shown on the income statement in the period in which they are incurred Od operating costs that are shown on the income statement when products are sold O D ENG hp R. DE H K B N M M
Indicate whether each of the following accounts would be reported on the balance sheet or income...
Indicate whether each of the following accounts would be reported on the balance sheet or income statement of Home Repair Company. Further, if the account is reported on the balance sheet, indicate whether it would be classified with current assets, noncurrent assets, current liabilities, noncurrent liabilities, or stockholders' equity. If the account is reported on the income statement, indicate whether it would be classified as revenue or expense. Finally, for each account, indicate whether the company's accounting records would normally...
The Petty Cash Fund is listed on the: a. debit side of an income statement. b. assets side of a balance sheet. c. credit side of an income statement. d. liabilities side of a balance sheet.
only final answers plz
8. DW has a beginning Retained Earings balance of 551,100. If during the year DW paid dividends of S4,300 and had net income of $22,500, then what was the ending Retained Earnings balance? A. S73,600. B. $69,300. C. $77,900. D. $46,800. 9. Which of the following is the correct order for preparing the financial statements listed? A. Balance sheet, statement of stockholders' equity, and income statement. B. Balance sheet, income statement, and statement of stockholders' equity....
D) 1.39% 10) According to GAAP, assets and liabilities are typically recorded on the balance sheet at: A) salvage value. B) market value. C) historical cost plus depreciation. D) historical cost less depreciation. 16) - 17) A canital invant
Consider the following company's balance sheet and income statement. Balance Sheet Liabilities and Equity Assets Cash Accounts receivable Inventory Total current assets Fixed assets $ 12,000 Accounts payable 67,000 Notes payable $ 38,000 20,000 48,000 127,000 Total current liabilities 58,000 20,000 125,000 $203,000 76,000 Long-term debt Equity $203,000 Total liabilities and equity Total assets Income Statement Sales (all on credit) Cost of goods sold Gross margin Selling and administrative expenses Depreciation EBIT Interest expense Earnings before tax Taxes Net income...
Period costs indude Oa. current liabilities on the balance sheet Ob. current assets on the balance sheet Oc operating costs that are shown on the income statement in the period in which they are incurred Od operating costs that are shown on the income statement when products are sold O D ENG hp R. DE H K B N M M
Indicate whether each of the following accounts would be reported on the balance sheet or income statement of Home Repair Company. Further, if the account is reported on the balance sheet, indicate whether it would be classified with current assets, noncurrent assets, current liabilities, noncurrent liabilities, or stockholders' equity. If the account is reported on the income statement, indicate whether it would be classified as revenue or expense. Finally, for each account, indicate whether the company's accounting records would normally...
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