Question Details

(solution) Disclaimer: Out of 64 questions on the test these are the ones I


Disclaimer: Out of 64 questions on the test these are the ones I missed points for and I wanted your help to correct the items I missed, so I will be able to accurately study this for the final exam in December. Thank you, tutor! 


Disclaimer: Out of 64 questions these are the ones I missed points for and I wanted your help to

 

correct the items I missed, so I will be able to accurately study this for the final exam in

 

December. Thank you, tutor!

 

1. Using the accrual basis of accounting, when is revenue recorded?

 

A. when cash is received, regardless of when the work is done.

 

B. when the work, or services are begun.

 

C. when the work, or services are completed.

 

D. when the expenses to pay for the job, or services, are incurred. 2. JAN 31 Corp. determines that depreciation of the Furniture is $ 1,200.

 

The correct adjusting journal entry would be a debit and credit to which accounts?

 

Debit

 

Credit

 

3. JAN 05 Corp. completes work for a customer and sends them a bill for $ 750.

 

The correct journal entry would be a debit and credit to which accounts?

 

Debit

 

Credit

 

4. If business pays rent in advance and debits a Prepaid Rent account, the company

 

(or landlord) receiving the rent payment will credit Prepaid Rent Unearned Rent Revenue Accrued Rent Revenue

 

5. In recording an accounting transaction in a double-entry system there must always be entries made on both sides of the accounting equation. the dollar amount of the debits must equal the dollar amount of the credits. there must only be two accounts affected by any transaction.

 

6. Which of these accounts appear on the Balance Sheet (check all that apply)

 

Note: You must check ALL of the correct answers to receive full credit ... no partial

 

credit.

 

**Received partial credit: 1 / 2 pts please help me figure out what I did wrong.** Cash Interest Payable Interest Revenue Interest Expense Unearned Revenue Accumulated Depreciation 7. JAN 27 Corp. collects $750 from a customer that Corp had previously billed, for

 

work that had been completed.

 

The correct journal entry would be a debit and credit to which accounts?

 

Debit

 

Credit 8. The following accounts are increased by a credit .

 

Note: You must check ALL of the correct answers to receive full credit ... no partial

 

credit.

 

**Received partial credit: 1.5 / 2 pts please help me figure out what I did wrong.** Capital (Common Stock) Withdraw (Dividends) Revenues Expenses Assets Liabilities Contra Asset 9. Which of these accounts appear on the Income Staement (check all that apply)

 

Note: You must check ALL of the correct answers to receive full credit ... no partial

 

credit.

 

**Received partial credit: 0.5 / 2 pts please help me figure out what I did wrong.** Cash Sales Revenue Interest Expense Accounts Receivable Sales Tax Expense Interest Revenue

 


Solution details:
STATUS
Answered
QUALITY
Approved
ANSWER RATING

This question was answered on: Jan 30, 2021

PRICE: $15

Solution~0001000917.zip (25.37 KB)

Buy this answer for only: $15

This attachment is locked

We have a ready expert answer for this paper which you can use for in-depth understanding, research editing or paraphrasing. You can buy it or order for a fresh, original and plagiarism-free solution (Deadline assured. Flexible pricing. TurnItIn Report provided)

Pay using PayPal (No PayPal account Required) or your credit card . All your purchases are securely protected by .
SiteLock

About this Question

STATUS

Answered

QUALITY

Approved

DATE ANSWERED

Jan 30, 2021

EXPERT

Tutor

ANSWER RATING

GET INSTANT HELP/h4>

We have top-notch tutors who can do your essay/homework for you at a reasonable cost and then you can simply use that essay as a template to build your own arguments.

You can also use these solutions:

  • As a reference for in-depth understanding of the subject.
  • As a source of ideas / reasoning for your own research (if properly referenced)
  • For editing and paraphrasing (check your institution's definition of plagiarism and recommended paraphrase).
This we believe is a better way of understanding a problem and makes use of the efficiency of time of the student.

NEW ASSIGNMENT HELP?

Order New Solution. Quick Turnaround

Click on the button below in order to Order for a New, Original and High-Quality Essay Solutions. New orders are original solutions and precise to your writing instruction requirements. Place a New Order using the button below.

WE GUARANTEE, THAT YOUR PAPER WILL BE WRITTEN FROM SCRATCH AND WITHIN A DEADLINE.

Order Now