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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
During 2010, $500,000 of raw materials were purchased, direct labor costs amounted to $600,000, and manufacturing overhead incurred was $480,000. If Carly Manufacturing Company's cost of goods manufactured for 2010 amounted to $1,390,000, its cost..
Give the necessary entries for 2011 assuming all payments after the initial payment are made on December 31.
Latisha owns a warehouse with an adjusted basis of $112,000. She exchanges it for a strip mall building worth $150,000. Which of the following statements is correct?
Prepare, in general journal form, the workpaper entries relating to the intercompany sale of equipment that are necessary in the December 31, 2012 consolidated financial statements workpapers.
joe finance has just purchased a stock index fund currently selling at 1200 per share.to protect against losses joe
Under the allowance method, the entry to write off a $2,600 uncollectible account includes a(n) :
The deposits are based on the container cost marked up 20%. How much profit did Slotnick realize on the forfeited deposits?
you are engaged in your first audit of pesky pest control pty ltd for the year ended 30 june 2012. the company began
the audit risk model has become the commonly used basis for audit planning. the following are independent situations
for august mcguire manufactering estimated sales revenue at 200000. it pays sales comissions that are 4 of sales. the
If a fixed asset, such as a computer, were purchased on January 1st for $1,950 with an estimated life of 3 years and a salvage or residual value of $150, the journal entry for monthly expense under straight-line depreciation is:
How much goodwill will be reported in the consolidation financial statements on December 31, 2012, at the end of Allen's fiscal year? What is the excess amortization expense for the period ending December 31, 2012?
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