3Question
45 (2 points)The journal entry to record the purchase of equipment for a $100 cash down payment and a balance of $400 due in 30 days would include
a
a debit to Equipment for $500, a credit to Cash for $100, and a credit to Accounts Payable for $400.
b
a debit to Equipment for $100 and a credit to Accounts Payable for $400.
c
debit to Equipment for $500 and a credit to Cash for $500.
d
a debit to Equipment for $100 and a credit to Cash for $100.
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46 (2 points)Unearned revenues are:
a
Recorded as an asset in the accounting records.
b
Increases to owners' capital.
c
Liabilities created when a customer pays in advance for products or services before the revenue is earned.
d
Revenues that have been earned and received in cash.
e
Revenues that have been earned but not yet collected in cash.
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47 (2 points)The document that is an itemized statement of goods prepared by a vendor listing the customer's name, items sold, sales prices, and terms of the sale is the
a
Purchase requisition.
b
Invoice approval.
c
Invoice.
d
Purchase order.
e
Receiving report.
Answers
Status NEW
Posted 09 May 2017 06:05 AM
My Price 6.00
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