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14. The journal entry to accrue interest revenue is..- c. Interest Receivable Interest Revenue a. Cash Interest Rev...
Shown below is a partial journal entry. Debit Cash 10,500 Credit Interest Receivable 250 Credit ?...
Shown below is a partial journal entry. Debit Cash 10,500 Credit Interest Receivable 250 Credit ? 250 Credit Note Receivable 10,000 The missing account is: Select one: a. Bad Debt Expense. b. AFDA c. Accounts Receivable. d. Interest Revenue
7. Which of the following reconciling items does not require a journal entry? a. NSF check...
7. Which of the following reconciling items does not require a journal entry? a. NSF check b. Deposit in transit c. Bank service charge d. Bank collection of note receivable 8. A cash budget helps control cash by a. helping to determine whether additional cash is available for investments or new financing is needed. b. ensuring accurate cash records. c. developing a plan for increasing sales. d. all of the above. 9. Accounts Receivable has a debit balance of $2,400,...
3) Cash Service Revenue Salaries Expense Accounts Payable C Retained Earnings Utilities Expense Accounts Receivable Common...
3) Cash Service Revenue Salaries Expense Accounts Payable C Retained Earnings Utilities Expense Accounts Receivable Common Stock Dividends How many of the above accounts have a normal debit balance? A) Six. C) Four D) Seven. 214) For a journal entry with only two lines, the following entry is valid: Increase in Revenue, Decrease in Expense A) True B) False 215) For a journal entry with only two lines, the following entry is valid Increase in Expense, Increase in Dividends. B)...
A firm's cash flows from investing activities include: A) Cash received from the sale of a...
A firm's cash flows from investing activities include: A) Cash received from the sale of a plant asset B) Cash paid as dividends C) Cash received from the rendering of services to customers D) Cash paid to retire bonds payable 3. A firm's cash flow from financing activities includes: A) Cash paid to reacquire treasury stock B) Cash paid for merchandise purchased C) Cash received from sale of investment in bonds D) Cash received as interest income 4 Nacho Company...
djusting Entries Section 2-ACCRUED REVENUE 1. Accrued revenue is: a. payment received for work completed b....
djusting Entries Section 2-ACCRUED REVENUE 1. Accrued revenue is: a. payment received for work completed b. revenue earned but not received a debit to cash d. с. a credit to cash 2. The journal entry to accrue $500 commissions' revenue is: Cash Commissions Revenue Commissions Revenue Cash Commissions Revenue a. 500 500 b. 500 500 с. 500 Accounts Receivable Accounts Receivable Commissions Revenue 500 d. 500 500 3. Several years ago, your calendar year company issued a $15,000 note at...
Which of the following cases would require an adjusting entry to accrue revenue? capital stock has...
Which of the following cases would require an adjusting entry to accrue revenue? capital stock has been issued for cash but not yet paid for interest on a note receivable will not be received until the note is paid off next year a client has paid for services in advance customers have been billed for services but not yet paid
Which ones are on the Income statement or Balance Sheet Cash Petty Cash Accounts Receivable Allowance...
Which ones are on the Income statement or Balance Sheet Cash Petty Cash Accounts Receivable Allowance for Doubtful Accounts Notes Receivable Interest Receivable Inventory Supplies Inventory Prepaid Insurance Prepaid Rent Debt Investments Equity Investments Land Buildings Accum. Depr. - Buildings Equipment Accum. Depr. - Equipment Notes Payable Accounts Payable Salaries and Wages Payable Interest Payable Dividends Payable Long-term Notes Payable Common Stock Retained Earnings Dividends Income Summary Sales Revenue Sales Returns and Allowances Sales Discounts Cost of Goods Sold Advertising...
Label as financing, operating, investing activities. Cash Investment Securities--AFS Accrured Interest Receivable Accounts Receivable Allowance for...
Label as financing, operating, investing activities. Cash Investment Securities--AFS Accrured Interest Receivable Accounts Receivable Allowance for Doubtful Accounts Merchandise Inventory Prepaid Insurance Store Supplies Land Building Accumulated Depreciation: Building Office & Store Equipment Accumulated Depreciation: Office & Store Equipment Delivery Trucks Accumulated Depreciation: Delivery Trucks Accounts Payable FICA Taxes Payable Withholding Taxes Payable Unemployment Taxes Payable Union Dues Payable Salaries & Wages Payable Accrued Utilities Payable Income taxes payable Mortgage Payable Accrued Interest Payable Common Stock PIC in Excess of...
My main issue with this following problem is the Interest Receivable and the Interest Revenue, I...
My main issue with this following problem is the Interest Receivable and the Interest Revenue, I got everything else correct but I am unsure about these two. Thank you for your help! Bramble Corp. has the following transactions related to notes receivable during the last 2 months of 2020. The company does not make entries to accrue interest except at December 31. Nov. 1 Loaned $13,200 cash to Manny Lopez on a 12 month, 10% note. Dec. 11 Sold goods...
Complete the cash flow from Operating Activities Additions to Net Income Decrease in accounts receivable Decrease...
Complete the cash flow from Operating Activities
Additions to Net Income Decrease in accounts receivable Decrease in inventory Decrease in prepaid assets Increase in accounts payable Increase in accrued liabilities Deductions from Net Income Increase in accounts receivable Increase in inventory Increase in prepaid assets Decrease in accounts payable Decrease in accrued liabilities 450 $300 Cash Flow From Operating Activities Net Income $110 Net Cash Provided by Operating Activities 2011 80 115 Cash Flows From Investing Activities Income Statement For...
7. Which of the following reconciling items does not require a journal entry? a. NSF check b. Deposit in transit c. Bank service charge d. Bank collection of note receivable 8. A cash budget helps control cash by a. helping to determine whether additional cash is available for investments or new financing is needed. b. ensuring accurate cash records. c. developing a plan for increasing sales. d. all of the above. 9. Accounts Receivable has a debit balance of $2,400,...
3) Cash Service Revenue Salaries Expense Accounts Payable C Retained Earnings Utilities Expense Accounts Receivable Common Stock Dividends How many of the above accounts have a normal debit balance? A) Six. C) Four D) Seven. 214) For a journal entry with only two lines, the following entry is valid: Increase in Revenue, Decrease in Expense A) True B) False 215) For a journal entry with only two lines, the following entry is valid Increase in Expense, Increase in Dividends. B)...
A firm's cash flows from investing activities include: A) Cash received from the sale of a plant asset B) Cash paid as dividends C) Cash received from the rendering of services to customers D) Cash paid to retire bonds payable 3. A firm's cash flow from financing activities includes: A) Cash paid to reacquire treasury stock B) Cash paid for merchandise purchased C) Cash received from sale of investment in bonds D) Cash received as interest income 4 Nacho Company...
djusting Entries Section 2-ACCRUED REVENUE 1. Accrued revenue is: a. payment received for work completed b. revenue earned but not received a debit to cash d. с. a credit to cash 2. The journal entry to accrue $500 commissions' revenue is: Cash Commissions Revenue Commissions Revenue Cash Commissions Revenue a. 500 500 b. 500 500 с. 500 Accounts Receivable Accounts Receivable Commissions Revenue 500 d. 500 500 3. Several years ago, your calendar year company issued a $15,000 note at...
Complete the cash flow from Operating Activities
Additions to Net Income Decrease in accounts receivable Decrease in inventory Decrease in prepaid assets Increase in accounts payable Increase in accrued liabilities Deductions from Net Income Increase in accounts receivable Increase in inventory Increase in prepaid assets Decrease in accounts payable Decrease in accrued liabilities 450 $300 Cash Flow From Operating Activities Net Income $110 Net Cash Provided by Operating Activities 2011 80 115 Cash Flows From Investing Activities Income Statement For...
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