Question 1

A promissory note owed to another company would most likely appear in which categories?

Accepted Answer

The answer of A promissory note owed to another company...

Question 2

Prepare a trial balance from the following information for Alpha Systems, Inc. for December 31, 2012.

Accepted Answer

Alpha Systems, Inc.

Question 3

Accounts that start with the numbers 6-9 would probably be __________.

Accepted Answer

other reve

Question 4

The posting reference column of the general journal will include the number of the account to which the information is being posted.

Accepted Answer

A) True 
 B)False

Question 5

The retained earnings accounts of dividends, revenues, and expenses have normal balances of __________, __________, and __________, respectively.

Accepted Answer

debit, cre

Question 6

Account titles such as marketing expense and depreciation expense would be numbered starting with a 3.

Accepted Answer

A) True 
 B)False

Question 7

A T-account has a $509 credit balance. This account is most likely:

Accepted Answer

A)  common shares. 
B)  land. 
C)  advertising expense. 
D)  dividends. 
E)  cash. 
A)  common shares. 
B)  land. 
C)  advertising expense. 
D)  dividends. 
E)  cash.

Question 8

Items such as wages and interest that have been incurred, but not yet paid, are called __________.

Accepted Answer

The answer of Items such as wages and interest that...

Question 9

Journalize the following transactions. You may leave out the explanations and disregard the posting reference.
A. Paul invested $33,000 into his company, Paul's Sports, on January 9.
B. The company purchased $6,300 of furniture on account on February 14.
C. The company paid three month's rent of $4,500 and recorded it as a prepaid expense on February 22.
D. The company bought $5,300 of office desks and $9,000 of computer equipment for $14,300 cash
on March 9.
E. The company incurred $1400 of wages to be paid next week. This entry is to be dated March 19.

Accepted Answer

The answer of Journalize the following transactions. You may leave...

Question 10

The June 2013 general journal for Have A Nap Hotel Company is provided below.
General Journal
   
Requirements:
a. Identify the accounting equation for each transaction in the chart provided below.
   
b. Use T-accounts to post the journal entries to the accounts in the general ledger.
c. Prepare a trial balance for June 2013.

Accepted Answer

Part a.
 @#IMG-DLM& 
Part b. T-accounts

Question 11

A T-account has a $382 debit balance. This account is most likely:

Accepted Answer

A)  income taxes payable. 
B)  common shares. 
C)  cash. 
D)  magazine sales. 
E)  sales revenue. 
A)  income taxes payable. 
B)  common shares. 
C)  cash. 
D)  magazine sales. 
E)  sales revenue.

Question 12

Only the __________ and __________accounts from the trial balance will be used to prepare the income statement.

Accepted Answer

The answer of Only the __________ and __________accounts from the...

Question 13

A chart of accounts includes:

Accepted Answer

A)  balances of accounts. 
B)  names of customers 
C)  assets and liabilities. 
D)  accounts with unusual balances. 
E)  account activity. F) vendor account balances. 
A)  balances of accounts. 
B)  names of customers 
C)  assets and liabilities. 
D)  accounts with unusual balances. 
E)  account activity. F) vendor account balances.

A promissory note owed to another company would most likely appear in which categories?

Prepare a trial balance from the following information for Alpha Systems, Inc. for December 31, 2012.

Accounts that start with the numbers 6-9 would probably be __________.

The posting reference column of the general journal will include the number of the account to which the information is being posted.

The retained earnings accounts of dividends, revenues, and expenses have normal balances of , , and __, respectively.

Account titles such as marketing expense and depreciation expense would be numbered starting with a 3.

A T-account has a $509 credit balance. This account is most likely:

Items such as wages and interest that have been incurred, but not yet paid, are called __________.

A T-account has a $382 debit balance. This account is most likely:

Only the and accounts from the trial balance will be used to prepare the income statement.

A chart of accounts includes:

Business, Accounting, and You

Adjusting and Closing Entries

Ethics, Internal Control, and Cash

Accounting for a Merchandising Business

Inventory

Sales and Receivables

Long-Term Assets

Current Liabilities and Long-Term Debt

Corporations: Share Capital and Retained Earnings

The Cash Flow Statement

Financial Statement Analysis

Filters

Exam 2: Analyzing and Recording Business Transactions

A promissory note owed to another company would most likely appear in which categories?

Prepare a trial balance from the following information for Alpha Systems, Inc. for December 31, 2012.

Accounts that start with the numbers 6-9 would probably be __________.

The posting reference column of the general journal will include the number of the account to which the information is being posted.

The retained earnings accounts of dividends, revenues, and expenses have normal balances of __________, __________, and __________, respectively.

Account titles such as marketing expense and depreciation expense would be numbered starting with a 3.

A T-account has a $509 credit balance. This account is most likely:

Items such as wages and interest that have been incurred, but not yet paid, are called __________.

A T-account has a $382 debit balance. This account is most likely:

Only the __________ and __________accounts from the trial balance will be used to prepare the income statement.

A chart of accounts includes:

Business, Accounting, and You

Adjusting and Closing Entries

Ethics, Internal Control, and Cash

Accounting for a Merchandising Business

Inventory

Sales and Receivables

Long-Term Assets

Current Liabilities and Long-Term Debt

Corporations: Share Capital and Retained Earnings

The Cash Flow Statement

Financial Statement Analysis

Filters

The retained earnings accounts of dividends, revenues, and expenses have normal balances of , , and __, respectively.

Only the and accounts from the trial balance will be used to prepare the income statement.