CH 6 No Interest Nothing Down Student Activity(1)

Chris pays a fee if her bank balance falls below $10 on the statement date.  Prior to the statement date, her balance was -$3.46.  Then, Chris made a deposit, d, in ample time, so she did not have to pay a fee. a)  Write an inequality to represent the situtation,   b)  Solve the inequality.  Describe the meaning of the solution.

Test: Second Exam F17 This Question: 1 pt The entry to write off an account receivable under the allowance method will T A. increase total assets O B. increase net income C. reduce net income D. have no effect on net income Click to select your answer Search the web and Windows

Pg 37 T- Accounts Please find the missing amount on the follwoing T-Account.  and explain CLEARLY and indepth (showing formula or method) on how you found the amount. Accounts Payable DRs 6/4 Transaction A 1500 6/8 Transaction C 2000 CRs Beginning Balance 3000 6/6 Transaction B UNKOWN 6/29 Transaction D 3,400 Ending Balance 6,700

MCQS: Which of the following is the liability?     (a) Loose tools     (b) Bill payable     (c) Note Receivable     (d) Electricity bill   MCQSS: A trial balance proves that equal amounts of debits and credits were posted to the ledger.  True  False

SUBJECT: Financial Accounting and Reporting Instruction: Choose the Debit and Credit Accounts of the following transactions. TRANSACTION: Paid employees salaries1. Debit *a. Cash In Bankb. Accounts Receivablec. Unused Laundy Suppliesd. Prepaid Insurancee. Equipmentf. Accounts Payableg. Unearned Incomeh. Amora, Drawingi. Amora, Capitalj. Service Incomek. Salaries ExpenseL.Taxes and Licensesm.Transportation 2. Credit *a. Cash In Bankb. Accounts Receivablec. Unused Laundy Suppliesd. Prepaid Insurancee. Equipmentf. Accounts Payableg. Unearned Incomeh. Amora, Drawingi. Amora, Capitalj. Service Incomek. Salaries ExpenseL.Taxes and Licensesm.Transportation TRANSACTION: Paid business permits3. Debit *a. Cash In Bankb. Accounts Receivablec. Unused Laundy Suppliesd. Prepaid Insurancee. Equipmentf. Accounts Payableg. Unearned Incomeh. Amora, Drawingi. Amora, Capitalj. Service Incomek. Salaries ExpenseL.Taxes and Licensesm.Transportation 4. Credit *a. Cash In Bankb. Accounts Receivablec. Unused…

Directions: Choose the letter corresponding to the correct answer for each of the questionsprovided below.1. Accounts receivable or the amount to be received when a customer orders on accountis an example of what account?a. Asset c. Equityb. Liability d. All of the above2. Expenses incurred on paying utilities belong to what type of account?a. Asset c. Equityb. Liability d. All of the above3. If Company A borrows money from company B, the transaction results toa. Increase in asset of A and increase in asset in Bb. Increase in asset of A and decrease in equity of Bc. Increase in asset of A and no effect on assets of Bd. Both B and C4. Equity means assets minus liabilities. Other terms that can be used synonymously withequity are the following except :a. Capital c. Net worthb. Net assets d. Profit5. Sources of legal obligation are the following excepta. The law c. Debtsb. Contracts d. Other operation by law

Use the following T-account for Careful Corporation to answer questions 11 and 12:                        Accounts Receivable Beg. Bal.        $   187 18                                 150   6                                   64 15   19 End. Bal.       $       ?   The ending balance of Accounts Receivable for Careful is: Group of answer choices A. $401 debit B. $343 debit C. $343 credit D. $ 58 credit

please quickly  i just need answer  thanks ! 7.A customer buys undeemed consumer cards worth 300$. For the sellor, the 300$ is the A, None of the above B. Prepaid expense C. Unearned revenue D, Accrued Revenue

Unearned revenue occurs when:A) Customers pay after receiving a serviceB) Customers pay in advance of receiving a serviceC) Customers default and do not pay you what is owedD) All of the choices are correct Group of answer choices A B C D

On what information return (T-slip) is the amount withdrawn from an individual's RRSP account reported?   Question 16 options:   a)  T4RSP slip   b)  T4 slip   c)  T5 slip   d)  T4A slip

1.The purpose of posting journal entries to the ledgerA. So that trial balance can be prepared.B. To make sure that debit and credit are equal.C. To prove the equality of debit and credit.D. To obtain updated account balance 2.Which of the following account title that is differently classified from the otherlisted?A. Service revenueB. Depreciation expenseC. Supplies inventoryD. Uncollectible account 3. Sissy Store has a P50,000.00 receivable from Samantha. On September 5, Samantha makes a partial payment of P30,000.00 to Sissy Store. The journal entry on September 5 to be recorded by Sissy Store is:A. Debit: Cash. Credit: Accounts Receivable, P30,000.B. Debt: Accounts Receivable: Credit Service Revenue, P50,000.C. Debit: Cash. Credit: Accounts Receivable, P50.000D. Debit: Cash, Credit Accounts Receivable, P20.000. 4. Mr. A received an advancement payment for wedding services worthP10,000. Thiswill result to-A. Debit: Unearned Revenue, P10,000.B. Credit: Cash, P10,606.C. Credit:…

Mark with an “X” the box that indicates the normal balance and the correct presentation of the following accounts.  The accounts are:  (1) ASSETS (A) DR (B) CR   (2) DEBTS (A) DR (B) CR   (3) CAPITAL (A) DR (B) CR   (4) INCOME EXPENSES (A) DR (B) CR   Ex. Bonuses payable (2B) X   1 Bonus premium payable (1A) (1B) (2A) (2B) (3A) (3B) (4A) (4B)   2 Discount on document payable - short term (Discount on notes payable) (1A) (1B) (2A) (2B) (3A) (3B) (4A) (4B)   3 Cost of guarantees (1A) (1B) (2A) (2B) (3A) (3B) (4A) (4B)   4 Gain on debt restructuring (1A) (1B) (2A) (2B) (3A) (3B) (4A) (4B)   5 Land that is received in exchange for the issuance of a long-term payable document (Long term notes payable) (1A) (1B) (2A) (2B) (3A) (3B) (4A) (4B)   6 Guarantees payable (1A) (1B) (2A) (2B) (3A) (3B) (4A) (4B)   7 Contingent liability-litigation (1A) (1B) (2A) (2B) (3A) (3B) (4A) (4B)   8 Bonus for paying executives (bonus payable) (1A) (1B) (2A) (2B) (3A) (3B) (4A) (4B)   9 Social security payable…

for the (1)st question: is wrong to make the below journal entry S. No Particulars  Debit Amt € Credit amt € 1. Interest expense  500     Loan    500

TOPIC: Rules of Debit and Credit Instruction: Identify the normal balance of accounts. Choose the letter of the correct answer. Choices: A. Debit B. Credit Questions: 1. Machinery 2. Estimated Uncollectible Account 3. Inventories 4. Amora, Drawing 5. Vehicle 6. Office Supplies Expense 7. Allowance for Doubtful Accounts 8. Service Revenue 9. Communication Expense 10. Miscellaneous Expense 11. Bad Debts 12. Mortgage Payable 13. Notes Payable 14. Prepaid Insurance 15. Unused Supplies 16. Allowance for Bad Debts 17. VAT Payable 18. Accumulated Depreciation 19. Taxes and Licenses 20. Retained Earnings