CourseLover

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About CourseLover

Levels Tought:
Elementary,Middle School,High School,College,University,PHD

Expertise:
Algebra,Applied Sciences See all
Algebra,Applied Sciences,Architecture and Design,Art & Design,Biology,Business & Finance,Calculus,Chemistry,Engineering,Health & Medical,HR Management,Law,Marketing,Math,Physics,Psychology,Programming,Science Hide all
Teaching Since: May 2017
Last Sign in: 283 Weeks Ago, 5 Days Ago
Questions Answered: 27237
Tutorials Posted: 27372

Education

  • MCS,MBA(IT), Pursuing PHD
    Devry University
    Sep-2004 - Aug-2010

Experience

  • Assistant Financial Analyst
    NatSteel Holdings Pte Ltd
    Aug-2007 - Jul-2017

Category > Business & Finance Posted 14 Dec 2017 My Price 10.00

MC Qu. 127 Clement Company

Assume that $18,500 cash is paid for insurance to cover the next year. The appropriate debit and credit are:

 

debit prepaid insurance $18,500, credit cash $18,500.debit insurance expense $18,500, credit prepaid insurance $18,500.debit prepaid insurance $18,500, credit insurance expense $18,500.debit cash $18,500, credit prepaid insurance $18,500.

MC Qu. 121 When a company pays...

When a company pays $2,800 dividends to its stockholders, the transaction should be recorded as:

debit cash; credit dividends.debit dividends; credit cash.debit dividends; credit accounts payable.debit retained earnings; credit dividends.

MC Qu. 117 Summer Leasing received...

Summer Leasing received $10,700 for 24 months rent in advance. How should Summer record this transaction?

 

debit prepaid rent; credit rent expensedebit cash; credit service revenuedebit rent expense; credit cashdebit cash; credit unearned revenue

MC Qu. 127 Clement Company paid an account payable related to a previous...

Clement Company paid an account payable related to a previous utility bill of $1,000. This transaction should be recorded as follows on the payment date:

 

debit cash $1000, credit utilities expense $1000.debit utilities expense $1,000, credit cash $1,000.debit accounts payable $1,000, credit cash $1,000.debit cash $1,000, credit accounts payable $1,000.

MC Qu. 115 When a company pays utilities of...

When a company pays utilities of $1,780 in cash, the transaction is recorded as:

debit cash $1,780, credit utilities expense $1,780.debit utilities expense $1,780, credit utilities payable $1,780.debit utilities payable $1,780, credit cash $1,780.debit utilities expense $1,780, credit cash $1,780.

Answers

CourseLover
(12)
Status NEW Posted 14 Dec 2017 07:12 AM My Price 10.00

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