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1) Accounts payable had a normal starting balance of $800. There were debit postings of $600 and credit postings of $300 during the month.The ending balance is:a) $500 creditb)$1000 debitc)$500 debitd)1000 credit
2) Which of the following groups of accounts have a normal debit balance?a) revenue, liabilities, and capitalb) Assets, capital, and withdrawalsc) liabilities, expenses and assetsd) assets, expenses and withdrawals
3) Which of the following entries would be used to record the billing of fees earned?a) Debit accounts receivable and credit rental feesb) credit cash and credit rental feesc) debit cash and credit rental feesd) debit cash and debit rental fees
4) Which of the statements of the rules of debit and credit is true ? a) decrease account receivable with a credit and the normal balance is a creditb) increase account payable with a credit and the normal balance is a creditc) increase capital with a debit and the normal balance is a debit d) decrease cash with a debit and the normal balance is a debit
this company see saw co. pays a weekly payroll. assume that the social security tax rate is 6.0 on the first 100000 of
an employee receives an hourly rate of 25 with time and a half for all hours worked in excess of 40 during a week.
Stan Sewell paid $50,000 for a franchise that entitled him to market software programs in the countries o the European Union. Sewell intended to sell individual franchises for the major language groups of Western Europe - German, French, English, ..
Assume that Benjamin acquired the widgets on September 1, 2015, What is the effect of the exchange rate fluctuations on reported income in 2015
a firm will pay a 1.50 dividend at the end of year one d1 has a stock price of 65 p0 and a constant growth rate g of 8
Describe the nature of the Income Summary account, and identify the types of summary data that may be posted to this account.
The material price variance was 1370 favorable and find the standard price per kilogram for raw material?
north slope realty co. pays weekly salaries of $7900 on Friday for a five day week ending on that day. What is the adjustment at the end of the accounting period, assuming that the period ends on (a) Wednesday, (b) on Thursday
via does business in three different business segments 1. entertainment publishing information and consumer commercial
A owned 40 percent of X co. (an S corporation) for 200 days during 2009. A owned 20 percent of X co. for the remaining 165 days in 2009. X co. is a calendar year taxpayer and in 2009 it had $365,000 of capital gains. A's share of X co.'s capital gain..
Exercise 7 (LO 5, 6, 7, 8) 80% purchase with a gain and preexisting goodwill. Ve- nus Company purchases 8,000 shares of Sundown Company for $64 per share. Just prior to the purchase, Sundown Company has the following balance sheet:
Why does a business depreciate?
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