Homework Answers
1) Answer for Question 16 :- Option B
Explanation:
$2,00,000 will be recorded as service revenue for the year 2020 in income statement.
2) Answer for Question 18 :- Option D
Explanation : The accounting equation must be in balance after each transaction is recorded.
3) Answer for Question 1 :- Option B
Explanation :
Owner's equity = owner's investment +/- net profit /net loss - drawings
= $1,30,000 - $30,000 - $20,000
=$80,000
4) Answer for Question 3 :- Option C
Explanation : Accumulated depreciation is a contra asset Account.
5) Answer for Question 6 :- Option C
Explanation : cash account has $400 debit balance ($900 - $500)
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Question 16 1 pts During 2020, New Company earned service revenues amounting to...
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acct hw help Ashley's Accessory Shop started the year with total assets of $350,000 and total...
acct hw help
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QUESTION 54 Each of the following transactions for Morrison Company requires an adjusting entry, which if...
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Principles of Accounting 1 made the following The
accountant of Blueberry Inc. errors during March 2020. a. The cash
purchase of OMR 2,110 computers was recorded as a OMR 2,200 debit
to Office Equipment and a OMR 2,110 credit to Cash. b. An OMR 800
purchase of supplies on account was properly recorded as a debit to
the Supplies account but was incorrectly recorded as a credit to
the Cash Account. c. The company provided services valued at OMR
7,500...
acct hw help
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