Multiple Choice
Recording salaries paid to employees as a debit to accounts receivable and a credit to cash will cause:
A) accounts receivable to be understated.
B) total credits on the trial balance to be understated.
C) salary expense to be understated.
D) total debits on the trial balance to be overstated.
Correct Answer:
Verified
Correct Answer:
Verified
Q111: Prepare a trial balance dated February
Q112: The basic summary device of accounting is
Q113: The year end balance in the capital
Q114: A business purchases equipment for cash of
Q115: Performing a service on account would:<br>A)affect the
Q117: A payment to a creditor would increase
Q118: Table 2-2<br>The following is a list
Q119: A $200 payment on a notes payable
Q120: Accounts are grouped in a book called
Q121: Owner equity accounts include:<br>A)assets, liabilities and capital.<br>B)assets,