Questions tagged 'Accounting'
72 questions
The cash in a cash register equaled $100, but the record of cash receipts/sales equaled $102. Determine which of the following entries
The cash in the cash register amounts to $100, while the recorded cash receipts from sales total $102. Please determine which of the following entries should be made to accurately record the cash sale...
Sikes Corporation, whose annual accounting period ends on December 31, issued the following bonds: Date of bonds: January 1, 2018
Sikes Corporation, whose annual accounting period ends on December 31, issued the following bonds: Date of Bonds Issued: January 1, 2018 Maturity Amount and Date: $300,000 due in 10 years (Decembe...
Nov 19, 2024
Revenue is traditionally recognized in the accounting records when
When is revenue traditionally recognized in accounting records? a. When cash is received. b. When services are rendered. c. When it is incurred. d. None of the above.
Rocky guide service provides guided 1–5 day hiking tours throughout the rocky mountains. wilderness tours hires rocky to lead various
Rocky Guide Service provides guided hiking tours lasting from 1 to 5 days throughout the Rocky Mountains. Wilderness Tours hires Rocky to lead various tours that Wilderness sells. Rocky receives $2,40...
Tanning company analyzes its receivables to estimate bad debt expense. the accounts receivable balance is $302,000 and credit sales
A tanning company is analyzing its receivables to estimate its bad debt expense. The accounts receivable balance is $302,000, and total credit sales amount to $1,000,000. An aging analysis of accounts...
Roman Industries’ plant operates five days per week with a daily payroll of $6,000. Employees are paid every Saturday for the workweek
Roman Industries operates its plant five days a week, with a daily payroll totaling $6,000. Employees are compensated every Saturday for the workweek just completed, which runs from Monday through Fri...
Nov 12, 2024
In which of the following types of accounts are decreases recorded by debits?
In which types of accounts are decreases recorded as debits? The correct answer is C.
1. Prepare general journal entries for the following transactions of Valdez Services.
Please prepare general journal entries for the following transactions related to Valdez Services.
Rebel Technology maintains its records using cash-basis accounting. During the year, the company received cash from customers, $50,000,
Rebel Technology maintains its records using cash-basis accounting. During the year, the company received cash from customers totaling $50,000 and paid cash for salaries amounting to $21,900. At the b...
Accounting Question: The asset section of the Balance Sheet normally presents assets in ______?
The asset section of the Balance Sheet typically presents assets in which of the following ways? A) Alphabetical Order B) Order of Largest to Smallest Dollar Amounts C) In the Order of Liquidity, from...