Bad Debts Expense is reported on the income statement as a. part of expense of goods marketed. b. reducing gross profit. c. an operating price. d. a contra-revenue account.
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The balance in the Accumulated Depreciation account represents thea. cash fund to be supplied to relocation plant assets.b. amount to be deducted from the expense of the plant asset to arrive at its fair industry worth.c. amount charged to cost in the present period.d. amount charged to price because the acquisition of the plant asset.
The book value of an ascollection is equal to the a. asset"s industry value less its historic price. b. blue book value relied on by additional sectors. c. replacement cost of the ascollection. d. asset"s expense less built up depreciation.
A plant asset cost $96,000 and also has actually a 8-year useful life. The annual depreciation cost tape-recorded (assuming an equal amount each year) would be: a. $9,600 b. $13,000. c. $12,000. d. $10,500.
Sales taxes collected by a retailer are videotaped by a. crmodifying Sales Taxes Revenue. b. debiting Sales Taxes Expense. c. crediting and enhancing Sales Taxes Payable. d. debiting Sales Taxes Payable.
Tinsel Factory, Inc."s December 31, 2016 trial balance contains the adhering to balances: Usual Stock, $14,000; Unearned Revenue, $12,000; Retained Earnings, $32,000, and Depreciation Expense $10,000. Total Stockholders" Equity at December 31, 2016 is: a. $58,000 b. $46,000 c. $68,000 d. $34,000
The leading develop of business company in the United States in terms of dollar sales volume, income, and also employees is a. the single proprietorship b. the partnership c. the corporation d. not known
Sales earnings are usually considered earned whena. cash is obtained from crmodify sales.b. an order is obtained.c. items have actually been moved from the seller to the buyer.d. adjusting entries are made.
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The existing balance in Allowance for Doubtful Accounts is thought about in computer negative debts cost in the:a. straight write-off methodsb. percentage of receivables basis.c. percentage of sales basis.d. percentage of receivables and percent of sales basis.
Poinsetta Agency began the year through total assets of $20,000 and also full liabilities of $5,000. During the year the organization videotaped $16,000 in catering profits and $8,000 in prices. Stockholders made extra investments of $3,000 and the agency passist dividends of $5,000 in the time of the year.The net revenue reported by Poinsetta Agency for the year was a. $16,000 b. $11,000 c. $8,000 d. $3,000
Poinsetta Agency began the year via full assets of $20,000 and also full liabilities of $5,000. During the year the company tape-recorded $16,000 in catering earnings and also $8,000 in prices. Stockholders made added investments of $3,000 and also the firm paid dividends of $5,000 during the year.Stockholders" equity adjusted by what amount from the beginning of the year to the finish of the year? a. $15,000 b. $14,000 c. $6,000 d. $3,000
The particular normal account balances of Purchases, Purchase Discounts, and Freight-in are a. credit, credit, delittle bit b. delittle, crmodify, credit c. delittle bit, crmodify, delittle bit d. delittle bit, debit, debit
Fundamentals of Financial Management, Concise Edition (via Thomkid ONE)8th EditionEugene F. Brigham, Joel F Houston
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