Project #15980 - Finacial

Here a Couple of questions my wife needs to get done and she needs the right answers, You wont get paid if to many are wrong when she turns it in or she will fail. Thanks

Question 5 of 20

5.0 Points

The owner of BobCats R Us paid his personal MasterCard bill using a company check. The correct entry to record the transaction is:

 

 

A. credit Cash; debit Accounts Receivable.

 

B. credit Cash; debit Supplies Expense.

 

C. credit Cash; debit Capital.

 

D. credit Cash; debit Withdrawals.

 

Question 6 of 20

5.0 Points

The business provided services to a cash customer. To record this:

 

 

A. an expense is debited and Capital is credited.

 

B. an asset is debited and a revenue is credited.

 

C. an asset is debited and a liability is credited.

 

D. None of these are correct


Question 7 of 20

5.0 Points

The entry to record Tom's payment of a home telephone bill is:

 

 

A. debit Telephone Expense; credit Accounts Payable.

 

B. debit Telephone Expense; credit Cash.

 

C. debit Tom's Withdrawals; credit Accounts Payable.

 

D. debit Tom's Withdrawals; credit Cash.

 

 

Question 8 of 20

5.0 Points

Which of the statements of the rules of debit and credit is true?

 

 

A. Increase Accounts Payable with a credit and the normal balance is a credit.

 

B. Decrease Cash with a debit and the normal balance is a debit.

 

C. Decrease Accounts Receivable with a credit and the normal balance is a credit.

 

D. Increase Capital with a debit and the normal balance is a debit.

 

Question 9 of 20

5.0 Points

Which of the following entries would be used to record the billing of fees earned?

 

 

A. Credit Cash and credit Rental Fees

 

B. Debit Accounts Receivable and credit Rental Fees

 

C. Debit Cash and credit Rental Fees

 

D. Debit Cash and debit Rental Fees

 


Question 17 of 20

5.0 Points

Dennis, owner of Dennis' Golf Center, withdrew $900 in cash from the business. Record the transaction by:

 

 

A. debiting Expense, $900; crediting Cash, $900.

 

B. debiting Dennis, Withdrawals, $900; crediting Dennis, Capital, $900.

 

C. debiting Accounts Receivable, $900; crediting Cash, $900.

 

D. debiting Dennis, Withdrawals, $900; crediting Cash, $900.


Question 19 of 20

5.0 Points

A credit to an asset account was posted to the Capital account. This error would cause:

 

 

A. liabilities to be overstated.

 

B. assets to be overstated.

 

C. Capital to be understated.

 

D. Both A and C are correct.

 

Part 1 of 1 -

 

Question 20 of 20

5.0 Points

The owner invested personal equipment in the business. To record this transaction:

 

 

A. debit Equipment and credit Capital.

 

B. debit Accounts Payable and credit Equipment.

 

C. debit Equipment and credit Accounts Payable.

 

D. credit Equipment and debit Capital.

 

 

 

 

 

 

 

 

 

Subject Mathematics
Due By (Pacific Time) 11/06/2013 12:00 am
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