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1.Paid the rent for the next six months.A) An asset would be debited and an expense credited.B) An asset would be debited and a revenue credited.C) Capital would be debited and a revenue credited.D) An asset would be debited and an asset credited.
2.The journal described as the simplest form is a (an):A) accounting journal.B) general journal.C) special journal.D) interim journal.
3.The process of initially recording business transactions in a journal is:A) posting.B) sliding.C) journalizing.D) transposing.
4.In the month of June, Davis Computers paid three months' rent in advance.The journal entry to record this transaction is:A) Rent Expense CashB) Cash Prepaid RentC) Cash Rent ExpenseD) Prepaid Rent Cash
5.Antonio's catered a reception. The total price was $1,200. The customer paid $200 cash and charged the remainder. The journal entry to record this trans- action is:A) Cash 200Accounts Receivable 200B) Cash 200Accounts Receivable 1,000Catering Service Fees 1,200
a company has two product lines shoes and hats. costand revenue for each line for the current month
baker company is trying to determine how often it needs to deposit payroll taxes for calendar year 2013. the company
hamilton stage supplies is a manufacturer of a specialized type of light used in theaters. information on the first
Which Statement(s) on Standards for Tax Services apply in this situation (explain how and why they apply)?
Question 20: Flip's Market recorded the following events involving a recent purchase of merchandise
In the year 2012, Utica Construction Company contracted to build a warehouse for $6,000,000. Data relating to the contract are as follows.
During the fiscal year of June 2012, Lincoln General Hospital, a not-for-profit healthcare organization, had the following revenue-related transactions.
One part of financial accounting involves the preparation of financial statements. What are the financial statements most frequently provided?
A.are reported as current assets B.include cash equivalents C.do not include equity securities D.all of the above
recording transactions affecting the enterprise fund and business-type activitiesthe city water utility is owned and
If the fair value of held to maturity investment declines for a reason that is viewed as OTT because the company intends to sell the investment do you write down the investment to fair value?
if internal audit resources are limited to conducting only one audit at a divisional location, should a high-risk process that was audited last year at this location be audited in lieu of a moderately risky process that was last audited four years..
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