Homework Answers
Add Answer to:
When shipping a product that was already paid by the customer in the previous month, the transaction should be reco...
Clement Company paid an account payable related to a previous utility bill of $1,030. This transaction...
Clement Company paid an account payable related to a previous utility bill of $1,030. This transaction should be recorded as follows on the payment date: Multiple Choice Debit cash $1030, credit utilities expense $1030. O Debit utilities expense $1,030, credit cash $1,030. o Debit accounts payable $1,030, credit cash $1,030. o o Debit cash $1,030, credit accounts payable $1,030.
ABC company sold 8,000 gift card in the current month. Which one should be the correct journal entry? Select one or...
ABC company sold 8,000 gift card in the current month. Which one should be the correct journal entry? Select one or more a. Debit Cash, Credit Unearned Revenue 3. b. Debit Unearned Revenue, Credit Cash c. Debit Revenue, Credit Cash d. Debit Cash, Credit Revenue
Patrick Services paid the office rent for the current month. The transaction would involve a Select...
Patrick Services paid the office rent for the current month. The transaction would involve a Select one: a. debit to Cash. b. debit to Rent Expense. c. credit to Rent Payable. d. credit to Prepaid Rent.
Tyler paid $3,700 on account to the company from which equipment was purchased on credit. This transaction would increase assets and increase owner's equity. decrease assets and decrease liabil...
Tyler paid $3,700 on account to the company from which equipment was purchased on credit. This transaction would increase assets and increase owner's equity. decrease assets and decrease liabilities. increase assets and increase liabilities. increase one asset and decrease another asset. An example of an expense is withdrawals by the owner. supplies consumed. prepaid insurance. investments. Asset and expense accounts normally have credit balances. large balances. debit balances. negative balances. Accounts that affect owner's equity are expenses, capital, and revenue....
Revaluation Magazine receives $90 in advance from a customer for a 3-year subscription. Revaluation Magazine's entry...
Revaluation Magazine receives $90 in advance from a customer for a 3-year subscription. Revaluation Magazine's entry to record this transaction would include: O A. debit to Unearned Subscription Revenue for $90 B. credit to Unearned Subscription Revenue for $90 C. credit to Subscription Revenue for $90 OD. debit to Subscription Revenue for $90 An accrued expense is an expense incurred by the company but not yet paid in cash. True O False Dreams Take Flight Ltd. includes the sales tax...
Karr Corporation received cash of $6483 on August 1, 20x8 for one year's rent in advance...
Karr Corporation received cash of $6483 on August 1, 20x8 for one year's rent in advance and recorded the transaction with a credit to Rent Revenue. The December 31, 20x8 adjusting entry is: Select one: a. Debit Unearned Rent and credit Rent Revenue, $2701 O b. Debit Rent Revenue and credit Unearned Rent, $2701 O c. Debit Rent Revenue and credit Unearned Rent, $3782 O d. Debit Cash and credit Unearned Rent, $3782
39. Cash was paid by Janer's Cleaning Service to creditors on account. Which of the following...
39. Cash was paid by Janer's Cleaning Service to creditors on account. Which of the following entries for Janer's Cleaning Service records this transaction? a. Cash, debit; Debbi Janer, Capital, credit b. Accounts Payable, debit; Cash, credit c. Accounts Receivable, debit; Cash, credit d. Accounts Payable, debit; Accounts Receivable, credit 40. Which of the following statements is not true about liabilities? a. Liabilities are debts owed to outsiders. b. Account titles of liabilities often include the term "payable." c. Cash...
Check Karr Corporation received cash of $7679 on August 1, 20x8 for one year's rent in...
Check Karr Corporation received cash of $7679 on August 1, 20x8 for one year's rent in advance and recorded the transaction with a credit to Rent Revenue. The December 31, 20x8 adjusting entry is Select one: • a. Debit Rent Revenue and credit Uneamed Rent, $3200 O b. Debit Unearned Rent and credit Rent Revenue, $3200 O C. Debit Rent Revenue and credit Unearned Rent, $4479 O d. Debit Cash and credit Unearned Rent, S4479 Check Next page
GreenLawn Co. provides landscaping services to clients. On May 1, a customer paid GreenLawn $60,000 for...
GreenLawn Co. provides landscaping services to clients. On May 1, a customer paid GreenLawn $60,000 for 6-months services in advance. GreenLawn’s general journal entry to record this transaction will include a: Multiple Choice Debit to Unearned Revenue for $60,000. Credit to Cash for $60,000. Credit to Unearned Revenue for $60,000. Debit to Accounts Receivable for $60,000. Credit to Accounts Receivable for $60,000.
When a company pays $1,900 dividends to its stockholders, the transaction should be recorded as: Multiple...
When a company pays $1,900 dividends to its stockholders, the transaction should be recorded as: Multiple Choice O Debit Dividends; Credit Cash. Debit Dividends, credit Accounts Payable. o o Debit Cash, credit Dividends. Debit Retained Earnings, credit Dividends.
Clement Company paid an account payable related to a previous utility bill of $1,030. This transaction should be recorded as follows on the payment date: Multiple Choice Debit cash $1030, credit utilities expense $1030. O Debit utilities expense $1,030, credit cash $1,030. o Debit accounts payable $1,030, credit cash $1,030. o o Debit cash $1,030, credit accounts payable $1,030.
ABC company sold 8,000 gift card in the current month. Which one should be the correct journal entry? Select one or more a. Debit Cash, Credit Unearned Revenue 3. b. Debit Unearned Revenue, Credit Cash c. Debit Revenue, Credit Cash d. Debit Cash, Credit Revenue
Revaluation Magazine receives $90 in advance from a customer for a 3-year subscription. Revaluation Magazine's entry to record this transaction would include: O A. debit to Unearned Subscription Revenue for $90 B. credit to Unearned Subscription Revenue for $90 C. credit to Subscription Revenue for $90 OD. debit to Subscription Revenue for $90 An accrued expense is an expense incurred by the company but not yet paid in cash. True O False Dreams Take Flight Ltd. includes the sales tax...
Karr Corporation received cash of $6483 on August 1, 20x8 for one year's rent in advance and recorded the transaction with a credit to Rent Revenue. The December 31, 20x8 adjusting entry is: Select one: a. Debit Unearned Rent and credit Rent Revenue, $2701 O b. Debit Rent Revenue and credit Unearned Rent, $2701 O c. Debit Rent Revenue and credit Unearned Rent, $3782 O d. Debit Cash and credit Unearned Rent, $3782
39. Cash was paid by Janer's Cleaning Service to creditors on account. Which of the following entries for Janer's Cleaning Service records this transaction? a. Cash, debit; Debbi Janer, Capital, credit b. Accounts Payable, debit; Cash, credit c. Accounts Receivable, debit; Cash, credit d. Accounts Payable, debit; Accounts Receivable, credit 40. Which of the following statements is not true about liabilities? a. Liabilities are debts owed to outsiders. b. Account titles of liabilities often include the term "payable." c. Cash...
Check Karr Corporation received cash of $7679 on August 1, 20x8 for one year's rent in advance and recorded the transaction with a credit to Rent Revenue. The December 31, 20x8 adjusting entry is Select one: • a. Debit Rent Revenue and credit Uneamed Rent, $3200 O b. Debit Unearned Rent and credit Rent Revenue, $3200 O C. Debit Rent Revenue and credit Unearned Rent, $4479 O d. Debit Cash and credit Unearned Rent, S4479 Check Next page
When a company pays $1,900 dividends to its stockholders, the transaction should be recorded as: Multiple Choice O Debit Dividends; Credit Cash. Debit Dividends, credit Accounts Payable. o o Debit Cash, credit Dividends. Debit Retained Earnings, credit Dividends.
Most questions answered within 3 hours.
-
Discuss how Entrepreneurial leadership style differs
from traditional leadership?
asked 17 minutes ago -
A futuristic design for a car is to have a large solid
disk-shaped flywheel within the...
asked 15 minutes ago -
Solid NaOH is added to a solution of 0.50 M acetic acid until
the pH of...
asked 19 minutes ago -
Which of the following statements is not a characteristic of the
Internal Revenue Code?
A) The...
asked 26 minutes ago -
Say true or false and explain it.
A heap is represented using an array. The array...
asked 36 minutes ago -
Explain how the DNA replication enzyme complex is organized and
functions, please don't copy paste from...
asked 36 minutes ago -
how
can personality contribute to one scoring high on the need to
evaluate measurement by Jarvis?
asked 37 minutes ago -
A high jumper is attempting to jump over a crossbar that is
placed at a height...
asked 41 minutes ago -
1.
A hemophiliac male mates with a healthy female. what are the
possible genotypes for the...
asked 59 minutes ago -
You could argue that even though Rockefeller clearly had
enormous market power (90% of the market)...
asked 1 hour ago -
At the beginning of the year, Palermo Brothers, Inc., purchased
a new plastic water bottle making...
asked 1 hour ago -
Calculate the change in the Gibbs energy of the system for the
following processes: a) 6.0...
asked 1 hour ago