At the end of the year, the usual adjusting entry for deprecation on a truck was not done. Which of the following is not true? O total assets will be understated at the end of the year O net income will be understated for the year O total liabilities will be understated for the year O total assets will be overstated for the year Which account is decreased when an accounts receivable amount is paid? O accounts receivable O fee earned O cash O accounts payable If the totals of a trial balance are not equal, it could be due to: O an error in determining an account balance O failure to record a transaction O recording the same transaction more than once O recording the same erroneous amount for both the debit and the credit parts of a transaction Which of the following is considered to be an earned revenue: O theatre tickets, sold last month for yesterday's performance O theater ticets, sold yesterday, for tomorrow's performance O theater tickets that are not sold O theater tickets sold for next month's performance

At the end of the year, the usual adjusting entry for deprecation on a truck was not done. Which of the following is not true? O total assets will be understated at the end of the year O net income will be understated for the year O total liabilities will be understated for the year O total assets will be overstated for the year Which account is decreased when an accounts receivable amount is paid? O accounts receivable O fee earned O cash O accounts payable If the totals of a trial balance are not equal, it could be due to: O an error in determining an account balance O failure to record a transaction O recording the same transaction more than once O recording the same erroneous amount for both the debit and the credit parts of a transaction Which of the following is considered to be an earned revenue: O theatre tickets, sold last month for yesterday's performance O theater ticets, sold yesterday, for tomorrow's performance O theater tickets that are not sold O theater tickets sold for next month's performance

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter6: Cash And Receivables

Section: Chapter Questions

Problem 3MC: A company is in its first year of operations and has never written off any accounts receivable as...

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DI-TWO Corporation had the following accounts and their balances on December 31 before any adjustments: Sales P5,000,000 Accounts Receivable 600,000 Allowance for doubtful accounts 25,000
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