Question 1

Accumulated depreciation is referred to as a c ___________ asset account because it offsets a related asset account.

Accepted Answer

The answer of Accumulated depreciation is referred to as a...

Question 2

A spreadsheet,prepared either manually or electronically and used by accountants to organise information,is known as a w____________.

Accepted Answer

The answer of A spreadsheet,prepared either manually or electronically and...

Question 3

The publishers of 'Guide to the Stock Market',a magazine published monthly,received $121 in advance,including $11 GST on 1 March,for a 1 year's subscription 11 issues)beginning with the March issue.At the end of the financial year on 30 June what entry will the company make?

Accepted Answer

A) Debit Unearned Subscriptions liability)$40; credit Subscriptions Income $40 
B) Debit Cash $40; credit Subscriptions Income $40 
C) Debit Cash $121; credit GST Collections $11,credit Unearned Subscriptions liability)$110 
D) Debit Unearned Subscriptions liability)$40; credit Subscriptions Income $36; credit GST Collections $4. 
A) Debit Unearned Subscriptions liability)$40; credit Subscriptions Income $40 
B) Debit Cash $40; credit Subscriptions Income $40 
C) Debit Cash $121; credit GST Collections $11,credit Unearned Subscriptions liability)$110 
D) Debit Unearned Subscriptions liability)$40; credit Subscriptions Income $36; credit GST Collections $4.

Accumulated depreciation is referred to as a c ___________ asset account because it offsets a related asset account.

A spreadsheet,prepared either manually or electronically and used by accountants to organise information,is known as a w____________.

The publishers of 'Guide to the Stock Market',a magazine published monthly,received $121 in advance,including $11 GST on 1 March,for a 1 year's subscription 11 issues)beginning with the March issue.At the end of the financial year on 30 June what entry will the company make?

Decision Making and the Role of Accounting

Financial Statements for Decision Making

Recording Transactions

Completing the Accounting Cycle

Accounting for Retailing

Accounting for Systems

Accounting for Manufacturing

Cost Accounting Systems

Cash Management and Internal Control

Cost-Volume-Profit Analysis for Decision Making

Budgeting for Planning and Control

Performance Evaluation for Managers

Differential Analysis,profitability Analysis and Capital Budgeting

Partnerships: Formation,operation and Reporting

Companies: Formation and Operations

Regulation and the Conceptual Framework

Receivables

Inventories

Non-Current Assets: Acquisition and Depreciation

Non-Current Assets: Revaluation,disposal and Other Aspects

Liabilities

Presentation of Financial Statements

Liabilities

Analysis and Interpretation of Financial Statements

Filters

Exam 4: Adjusting the Accounts and Preparing Financial Statements

Accumulated depreciation is referred to as a c ___________ asset account because it offsets a related asset account.

A spreadsheet,prepared either manually or electronically and used by accountants to organise information,is known as a w____________.

The publishers of 'Guide to the Stock Market',a magazine published monthly,received $121 in advance,including $11 GST on 1 March,for a 1 year's subscription 11 issues)beginning with the March issue.At the end of the financial year on 30 June what entry will the company make?

Decision Making and the Role of Accounting

Financial Statements for Decision Making

Recording Transactions

Completing the Accounting Cycle

Accounting for Retailing

Accounting for Systems

Accounting for Manufacturing

Cost Accounting Systems

Cash Management and Internal Control

Cost-Volume-Profit Analysis for Decision Making

Budgeting for Planning and Control

Performance Evaluation for Managers

Differential Analysis,profitability Analysis and Capital Budgeting

Partnerships: Formation,operation and Reporting

Companies: Formation and Operations

Regulation and the Conceptual Framework

Receivables

Inventories

Non-Current Assets: Acquisition and Depreciation

Non-Current Assets: Revaluation,disposal and Other Aspects

Liabilities

Presentation of Financial Statements

Liabilities

Analysis and Interpretation of Financial Statements

Filters