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Linda_us, Finance, Accounts & Homework Tutor
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The credit purchase of a delivery truck for $4,400 was posted

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The credit purchase of a delivery truck for $4,400 was posted to Delivery Trucks as a $4,400 debit and to Accounts Payable as a $4,400 debit. What effect would this error have on the trial balance?
A. The total of the Debit column of the trial balance will exceed the total of the Credit column by $8,800.
B. The total of the Credit column of the trial balance will exceed the total of the Debit column by $4,400.
C. The total of the Debit column of the trial balance will exceed the total of the Credit column by $4,400.
D. The total of the Debit column of the trial balance will equal the total of the Credit column.
E. The total of the Credit column of the trial balance will exceed the total of the Debit column by $8,800.


An adjusting entry was made on December 31, 2009 to accrue salary expense of $2,000. Which of the following entries would be prepared to record the next payment of salaries, on January, 2010 in the amount of $3,000?

Salaries Payable 3,000
Cash 3,000

Salaries Payable 2,000
Cash 2,000

Salaries Expense 3,000
Cash 3,000

Salaries Payable 2,000
Salaries Expense 1,000
Cash 3,000

Salaries Expense 2,000
Salaries Payable 2,000


Due to an oversight, a company made no adjusting entry for accrued and unpaid employee wages of $21,000 on May 31. This oversight would:
Overstate assets by $21,000.
Understate net income by $21,000.
Have no effect on net income.
Understate assets by $21,000.
Overstate net income by $21,000.


What is ending retained earnings for Shiver Ice House?

Common Stock $125,500
Cash $118,840
Supplies $2,600
Prepaid Rent $4,300
Revenue $21,100
Retained Earnings $31,100
Accounts Payable $26,100
Accounts Receivable $24,650
Office Equipment $25,500
Unearned Revenue $6,363
Utilities Expense $433
Shaving Equipment $33,840
$30,667
$20,667
$51,767
$27,030
$44,867

An Asset is:
only acquired with cash
a company's obligation to pay
is also called contributed capital
something the company owns
only contributed by stockholders

The following transactions occurred during August:
(1.) Received $1,000 cash for services provided to a customer during August.
(2.) Received $2,800 cash investment from XXXXX XXXXXson, the owner of the business.
(3.) Received $730 from a customer in partial payment of his account receivable which arose from sales in July.
(4.) Provided services to a customer on credit, $300.
(5.) Borrowed $6,500 from the bank by signing a promissory note.
(6.) Received $1,195 cash from a customer for services to be rendered next year.
What was the amount of revenue for August?
$12,525.
$1,300.
$2,195.
$10,300.
$4,100.


Of the following errors, which one by itself will cause the trial balance to be out of balance?
A $300 cash salary payment posted as a $300 debit to Cash and a $300 credit to Salaries Expense.
An $300 prepayment from a customer for services to be rendered in the future was posted as an $300 debit to Unearned Revenue and an $300 credit to Cash.
A $200 cash receipt from a customer in payment of his account posted as a $200 debit to Cash and a $20 credit to Accounts Receivable.
A $75 cash receipt from a customer in payment of his account posted as a $75 debit to Cash and a $75 credit to Cash.
A $50 cash purchase of office supplies posted as a $50 debit to Office Equipment and a $50 credit to Cash.
HI JACUSTOMER

Welcome to JA. I can hep you with these questions. Whats your deadline for these questions?

Regards

Linda
Customer: replied 6 years ago.
As soon as possible. ASAP
I am working on it. Is this a timed exam?

Regards

Linda
Customer: replied 6 years ago.
It's a timed HW assignment and I'm a little confused. There are 25 problems and I understand most of them but I need help with these. I only have like 20 min. remaining
Will post the solution in 5 to 10 min.
Customer: replied 6 years ago.
Thanks
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