Text bank fin 202 chap 1

chapter 2 financial statements taxes and cash flow test bank

The general journal entry made by Willow Rentals will include a: A. Accounts receivable arise from credit sales.

chapter 2 financial statements taxes and cash flow test bank

Trial balance. Chapter 1: Introduction to Computers Question 1L "3 1he distinction among categories of computers is alwa s clearHcut. An increase in the common stock account.

Text bank fin 202 chap 1

Expense incurred because a customer has paid in adva ce. The trial balance can serve as a replacement for the balance sheet, since total debits must equal total credits. The normal balance of an expense account is a credit. Lalse 1"3. Office Equipment. A decrease in an asset ccount. Correct nswer: 1he! An increase in the dividends account. L ""2. Dividends E. Chart of accounts. The general journal is known as the book of final entry because financial statements are prepared from it. A record containing increases and decreases in a specific asset, liability, equity, revenue, or expense item.

When a company provides services for which cash will not be received until some future date, the company should record the amount billed as accounts receivable. E "1'. Question MC "nar Asset that will be used over time. Accounts Payable B.

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Chapter 1: Introduction to Computers Question 1L 1' nar Correct nswer: 1he Internet is a worldwide collection of networks that connects millions of! L ""2.

Understanding financial statements 11th edition test bank chapter 2

Cou can use the Internet to make a telephone call. Question MC 10 1he components of a domain name are separated! C can hold from -,3 million to 1! The journal is known as a book of original entry. Question MC "1 e! An expense account. Chapter 1: Introduction to Computers Question 1L 12 4rogrammers develop programs or write the instructions that direct the computer to process data into information. Gava applet "'". Assets that represent prepayments of future expenses. Debits increase asset and expense accoun s. Asset accounts are decreased by debits. Accounts Payable Supplies 7, Eoading d. Man computers store enormous amounts of data and make this data availa! The purchase of land and buildings will generally be recorded in the same ledger account.
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