Multiple Choice
Classic Artists' Services hired a maintenance man to maintain a building that it will use for office purposes.The maintenance man will begin work on February 1 and work through till May 31.Classic Artists' will pay the maintenance man $4,000 at the end of May.It accrues Maintenance Expense at the end of every month.What is the balance in the Accounts Payable account for amounts owed to the maintenance man at the end of March?
A) Debit balance of $4,000
B) Credit balance of $2,000
C) Debit balance of $2,000
D) Credit balance of $4,000
Correct Answer:

Verified
Correct Answer:
Verified
Q39: If a company fails to make an
Q74: If a company is using the accrual
Q75: On April 1,Balsa Inc.purchased office supplies for
Q76: The accountant of Delta Inc.failed to make
Q79: On January 1,Unearned Revenue of Maywood Inc.had
Q80: The entry to record depreciation includes a
Q81: On December 31,2014,the balance in Pinnacle Exploration
Q82: On January 1,2015,the Accounts Receivable of Linda
Q129: What is the effect of the adjusting
Q182: Generally Accepted Accounting Principles (GAAP)require the use