A) is a grouping of all of the balance sheet accounts only. B) is a grouping of all the income statement accounts only. C) contains all the accounts used by a business. D) contains only the permanent accounts used by a business. A) is a grouping of all of the balance sheet accounts only. B) is a grouping of all the income statement accounts only. C) contains all the accounts used by a business. D) contains only the permanent accounts used by a business.

Exam 2: Transaction Analysis

Linda Keller opened a consulting firm,Keller Consulting P.C.During its first month of operations,the following transactions were completed: I.Linda invested $30,000 in the business,which in turn issued common stock to her. V.The business received cash from a customer as payment on account $6,000. At the end of the month,total liabilities are:

(Multiple Choice)

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Question 141

Which of the following transactions will increase one asset and decrease another asset?

(Multiple Choice)

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Question 142

A business sold equipment for $44,900 cash.The equipment was purchased one month earlier for $44,900 but the plans for the equipment changed.

(Multiple Choice)

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Question 143

A company sold land for the same price that they paid for it last year.When entering this transaction in the journal,there will be a:

(Multiple Choice)

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Question 144

When listing the accounts on the trial balance,where is the dividends account listed?

(Multiple Choice)

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Question 145

The ledger:

(Multiple Choice)

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Question 146

Which of the following transactions includes a credit to cash?

(Multiple Choice)

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Question 147

Indicate whether the account is an asset (A),liability (L),stockholders' equity (SE),revenue (R)or expense (E)account.Also indicate if the account would appear on the Balance Sheet (BS),Income Statement (IS),Statement of Cash Flows (CF)or the Statement of Retained Earnings (SRE).

(Essay)

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Question 148

Which of the following is a business transaction?

(Multiple Choice)

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Question 149

On May 10,a business collected $4,200 on account.What journal entry is needed on that date?

(Multiple Choice)

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Question 150

If a posting error has occurred whereby a debit is treated as a credit,then the out-of-balance amount on the trial balance will be evenly divisible by:

(Multiple Choice)

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Question 151

Which of the following is NOT a business transaction?

(Multiple Choice)

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Question 152

In transaction analysis,the declaration and payment of dividends is recorded in the and columns of the accounting equation.

(Multiple Choice)

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Question 153

The accounts of Yardy Company are as follows on November 30,2019: What is the total of the debit column in the trial balance at November 30,2019?

(Multiple Choice)

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Question 154

The double-entry system of accounting records the dual effects of transactions on the entity.

(True/False)

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Question 155

A company paid $3,000 for supplies that were purchased earlier in the month on account.How does this transaction affect the accounting equation?

(Multiple Choice)

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Question 156

A business paid $50,000 cash to purchase equipment.The business would:

(Multiple Choice)

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Question 157

When computing the normal balance of an account:

(Multiple Choice)

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Question 158

A business paid $2,500 on account.The journal entry would:

(Multiple Choice)

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Question 159

The purchase of equipment,involving a cash down payment and a promise to pay the balance in the future,includes:

(Multiple Choice)

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Question 160

Showing 141 - 160 of 196

Which of the following transactions will increase one asset and decrease another asset?

A business sold equipment for $44,900 cash.The equipment was purchased one month earlier for $44,900 but the plans for the equipment changed.

A company sold land for the same price that they paid for it last year.When entering this transaction in the journal,there will be a:

When listing the accounts on the trial balance,where is the dividends account listed?

The ledger:

Which of the following transactions includes a credit to cash?

Indicate whether the account is an asset (A),liability (L),stockholders' equity (SE),revenue (R)or expense (E)account.Also indicate if the account would appear on the Balance Sheet (BS),Income Statement (IS),Statement of Cash Flows (CF)or the Statement of Retained Earnings (SRE).

Which of the following is a business transaction?

On May 10,a business collected $4,200 on account.What journal entry is needed on that date?

If a posting error has occurred whereby a debit is treated as a credit,then the out-of-balance amount on the trial balance will be evenly divisible by:

Which of the following is NOT a business transaction?

In transaction analysis,the declaration and payment of dividends is recorded in the and columns of the accounting equation.

The accounts of Yardy Company are as follows on November 30,2019: What is the total of the debit column in the trial balance at November 30,2019?

The double-entry system of accounting records the dual effects of transactions on the entity.

A company paid $3,000 for supplies that were purchased earlier in the month on account.How does this transaction affect the accounting equation?

A business paid $50,000 cash to purchase equipment.The business would:

When computing the normal balance of an account:

A business paid $2,500 on account.The journal entry would:

The purchase of equipment,involving a cash down payment and a promise to pay the balance in the future,includes:

The Financial Statements

Accrual Accounting Income

Internal Control Cash

Receivables and Revenue

Inventory Cost of Goods Sold

Plant Assets, natural Resources, Intangibles

Current and Contingent Liabilities

Long-Term Liabilities

Stockholders Equity

The Statement of Cash Flows

Financial Statement Analysis

Investments

Time Value of Money

Filters

Exam 2: Transaction Analysis

Which of the following transactions will increase one asset and decrease another asset?

A business sold equipment for $44,900 cash.The equipment was purchased one month earlier for $44,900 but the plans for the equipment changed.

A company sold land for the same price that they paid for it last year.When entering this transaction in the journal,there will be a:

When listing the accounts on the trial balance,where is the dividends account listed?

The ledger:

Which of the following transactions includes a credit to cash?

Indicate whether the account is an asset (A),liability (L),stockholders' equity (SE),revenue (R)or expense (E)account.Also indicate if the account would appear on the Balance Sheet (BS),Income Statement (IS),Statement of Cash Flows (CF)or the Statement of Retained Earnings (SRE).

Which of the following is a business transaction?

On May 10,a business collected $4,200 on account.What journal entry is needed on that date?

If a posting error has occurred whereby a debit is treated as a credit,then the out-of-balance amount on the trial balance will be evenly divisible by:

Which of the following is NOT a business transaction?

In transaction analysis,the declaration and payment of dividends is recorded in the ________ and ________ columns of the accounting equation.

The accounts of Yardy Company are as follows on November 30,2019: What is the total of the debit column in the trial balance at November 30,2019?

The double-entry system of accounting records the dual effects of transactions on the entity.

A company paid $3,000 for supplies that were purchased earlier in the month on account.How does this transaction affect the accounting equation?

A business paid $50,000 cash to purchase equipment.The business would:

When computing the normal balance of an account:

A business paid $2,500 on account.The journal entry would:

The purchase of equipment,involving a cash down payment and a promise to pay the balance in the future,includes:

The Financial Statements

Accrual Accounting Income

Internal Control Cash

Receivables and Revenue

Inventory Cost of Goods Sold

Plant Assets, natural Resources, Intangibles

Current and Contingent Liabilities

Long-Term Liabilities

Stockholders Equity

The Statement of Cash Flows

Financial Statement Analysis

Investments

Time Value of Money

Filters

In transaction analysis,the declaration and payment of dividends is recorded in the and columns of the accounting equation.