Homework Answers
|
Option A (retained earnings) Permanent accounts are also called real accounts. They are called permanent accounts because they are not closed at the end of an accounting period. Retained earnings are the profits accumulated by the company instead of payments to shareholders. Income summary account is closed to retained earnings account at the end of accounting period. |
Add Answer to:
TB MC Qu. 3-189 Which of the following is a... 4 Which of the following is...
TB MC Qu. 2-27 Which of the following would ... Which of the following would usually...
TB MC Qu. 2-27 Which of the following would ... Which of the following would usually be found on a job cost sheet under a normal cost system Which of the following would usually be found on a job cost sheet under a normal cost system? Actual direct Actual manufacturinn
TB MC Qu. 04-46 Generally, which of the following... Generally, which of the following flow-through entities...
TB MC Qu. 04-46 Generally, which of the following... Generally, which of the following flow-through entities can elect to be treated as a C corporation? Multiple Choice Limited partnership. Limited liability company. General partnership. All of these choices are correct.
TB MC Qu. 12-88 Which one of the following is... Which one of the following is...
TB MC Qu. 12-88 Which one of the following is... Which one of the following is an example of cash flows from operating activities? Multiple Choice Payments to acquire equity securities of other companies. Proceeds from the issuance of bonds and notes payable. 0 Receipts of cash from sales. O Repayment of principals on loans. O Proceeds from collecting the principal amounts of loans. O
TB MC Qu. 06-82 Which of the following is not a primary role... Which of the following is not a primary role of an...
TB MC Qu. 06-82 Which of the following is not a primary role... Which of the following is not a primary role of an Independent auditor? Multiple Choice Determine whether a company's financial statements are materially correct. o Assume legal and professional responsibilities to the public. o All of these answer choices are correct. Advise client on tax strategles.
TB MC Qu. O4-41 Which of the following entity... Which of the following entity characteristics are...
TB MC Qu. O4-41 Which of the following entity... Which of the following entity characteristics are generally key drivers for small business owners in deciding which entity to choose? Multiple Choice Rate at which income from entity will be taxed. Required accounting period. Liability protection. Rate at which income from entity will be taxed and required accounting period. Rate at which income from entity will be taxed and liability protection.
TB MC Qu. 07-04 Gideon Company
TB MC Qu. 07-04 Gideon Company
TB MC Qu. 08-151 Minor Company install a machine...
TB MC Qu. 08-151 Minor Company install a machine...
TB MC Qu. 16-149 Dazzle, Inc. produces beads for...
TB MC Qu. 16-149 Dazzle, Inc. produces beads for...Dazzle, Inc. produces beads for jewelry making use. The following information summarizes production operations for June. The journal entry to record June production activities for direct labor usage is:
TB MC Qu. 16-149 Dazzle, Inc. produces beads for...
TB MC Qu. 16-149 Dazzle, Inc. produces beads for...Dazzle, Inc. produces beads for jewelry making use. The following information summarizes production operations for June. The journal entry to record June production activities for direct labor usage is:
TB MC Qu. 02-34 The following account balances were drawn... 9 The following account balances were...
TB MC Qu. 02-34 The following account balances were drawn... 9 The following account balances were drawn from the Year 1 financial statements of Grayson Company: $ 1,950 points Cash Accounts receivable Land ( 8 01:30:50 $5,800 Accounts payable $2,900 Common stock $9,400 Retained earnings, Jan. 1 Revenue Expenses $ 4,100 $10,900 $ 7,950 What is the balance of the Common Stock account? Multiple Choice O $12,050 $9,100
TB MC Qu. 2-27 Which of the following would ... Which of the following would usually be found on a job cost sheet under a normal cost system Which of the following would usually be found on a job cost sheet under a normal cost system? Actual direct Actual manufacturinn
TB MC Qu. 04-46 Generally, which of the following... Generally, which of the following flow-through entities can elect to be treated as a C corporation? Multiple Choice Limited partnership. Limited liability company. General partnership. All of these choices are correct.
TB MC Qu. 12-88 Which one of the following is... Which one of the following is an example of cash flows from operating activities? Multiple Choice Payments to acquire equity securities of other companies. Proceeds from the issuance of bonds and notes payable. 0 Receipts of cash from sales. O Repayment of principals on loans. O Proceeds from collecting the principal amounts of loans. O
TB MC Qu. 06-82 Which of the following is not a primary role... Which of the following is not a primary role of an Independent auditor? Multiple Choice Determine whether a company's financial statements are materially correct. o Assume legal and professional responsibilities to the public. o All of these answer choices are correct. Advise client on tax strategles.
TB MC Qu. O4-41 Which of the following entity... Which of the following entity characteristics are generally key drivers for small business owners in deciding which entity to choose? Multiple Choice Rate at which income from entity will be taxed. Required accounting period. Liability protection. Rate at which income from entity will be taxed and required accounting period. Rate at which income from entity will be taxed and liability protection.
TB MC Qu. 07-04 Gideon Company
TB MC Qu. 08-151 Minor Company install a machine...
TB MC Qu. 16-149 Dazzle, Inc. produces beads for...Dazzle, Inc. produces beads for jewelry making use. The following information summarizes production operations for June. The journal entry to record June production activities for direct labor usage is:
TB MC Qu. 16-149 Dazzle, Inc. produces beads for...Dazzle, Inc. produces beads for jewelry making use. The following information summarizes production operations for June. The journal entry to record June production activities for direct labor usage is:
TB MC Qu. 02-34 The following account balances were drawn... 9 The following account balances were drawn from the Year 1 financial statements of Grayson Company: $ 1,950 points Cash Accounts receivable Land ( 8 01:30:50 $5,800 Accounts payable $2,900 Common stock $9,400 Retained earnings, Jan. 1 Revenue Expenses $ 4,100 $10,900 $ 7,950 What is the balance of the Common Stock account? Multiple Choice O $12,050 $9,100
Most questions answered within 3 hours.
-
If
the more comprehensive data is available in MEPS, why does the NHIS
still exist? How...
asked 16 minutes ago -
Koo argues that the Japanese economy in the 1990s suffered from
a balance sheet recession. What...
asked 10 minutes ago -
Automobile mechanics conduct diagnosis tests on 150 new cars of
particular make and model to determine...
asked 4 minutes ago -
11) Find the proceeds of a 5 year non-interest
bearing note for $6500 discounted 2.5 years...
asked 11 minutes ago -
Required: Prepare the consolidated financial statements of
Griffin Ltd at 30 June 2019.
Griffin Ltd is...
asked 19 minutes ago -
1.How large must the coefficient of static friction be between
the tires and the road if...
asked 35 minutes ago -
What is the time complexity (Big-O) of the following code?
class Main
{
// Recursive...
asked 34 minutes ago -
Economists look at any situation in terms of its component
parts: the people making decisions, the...
asked 40 minutes ago -
What is a population?
Select one:
a. All of the individual organisms belonging to the same...
asked 44 minutes ago -
You have a yeast cell culture with a concentration of 5x10^4
cells/ml. If you dilute this...
asked 49 minutes ago -
In which direction the Reaction goes? Show detailed process.
SeO3 + 2ClO2. + 2H3O <---> Se...
asked 1 hour ago -
Unexposed silver halides are removed from photographic film when
they react with sodium thiosulfate
(Na2S2O3, called...
asked 1 hour ago