1.

i need answers

A company delivered $10,000 of goods to a customer that agreed to pay cash within 30 days. The goods had cost $8,000 to manufacture.

Which of the following items would beincreasedby this sales transaction? (check all that apply)

Inventory

Revenue

Total Liabilities

Total Assets

Accounts Receivable

1 point 2.

A company took delivery of $50,000 of new inventory and agreed to pay cash to the supplier within 30 days.

Which of the following items would beincreasedby this inventory purchase transaction? (check all that apply)

Accounts Receivable

Cost of Goods Sold

Total Assets

Retained Earnings

Accounts Payable

1 point 3.

A company collected $100,000 cash from a customer who both received and was billed for the goods last quarter.

Which of the following items would beincreasedby this cash collection transaction? (check all that apply)

Revenue

Cash from Operations

Accounts Receivable

Total Stockholders Equity

Total Assets

1 point 4.

A company collected $10,000 cash from a customer as a deposit for goods that will be shipped next quarter.

Which of the following items would beincreasedby this cash collection transaction? (check all that apply)

Total Liabilities

Total Assets

Accounts Receivable

Cash from Operations

Revenue

1 point 5.

A company received $100,000 cash from issuing 10,000 shares of $4 par value stock.

Which of the following items would beincreasedby this stock issuance transaction? (check all that apply)

Cash from Financing

Total Stockholders Equity

Additional Paid in Capital

Long-term Liabilities

Dividends

1 point 6.

A company received $75,000 cash from a bank loan that must be repaid in three years.

Which of the following items would beincreasedby this bank loan transaction? (check all that apply)

Cash from Investing

Revenue

Interest Payable

Notes Payable

Current Assets

1 point 7.

A company declared $500,000 of dividends that will be paid two months from now.

Which of the following items would beincreasedby this dividend declaration transaction? (check all that apply)

Cash from Operations

Dividends Payable

Current Assets

Net Income

Dividend Expenses

1 point 8.

A company paid $50,000 to its insurance company for fire insurance coverage over the next year.

Which of the following items would beincreasedby this insurance prepayment transaction? (check all that apply)

Prepaid Insurance

Insurance Expense

Net Income

Current Liabilities

Total Assets

1 point 9.

At the end of the quarter, a company did an adjusting entry to record the fact that $1,000 of Prepaid Advertising had been used up during the quarter.

Which of the following items would beincreasedby this advertising adjusting entry? (check all that apply)

SG&A Expense

Net Income

Cash

Cost of Goods Sold

Prepaid Advertising

1 point 10.

A company borrowed $500,000 cash from a bank and used it to purchase $500,000 of new manufacturing equipment.

Which of the following items would beincreasedby the bank loan and equipment purchase transactions? (check all that apply)

Cash from Investing

Total Assets

Notes Payable

Cash from Financing

Inventory

1 point 11.

At the end of the quarter, a company did an adjusting entry to record $5,000 of depreciation on the fleet of automobiles used by the sales force.

Which of the following items would beincreasedby this depreciation adjusting entry? (check all that apply)

Retained Earnings

Cash from Operations

Total Assets

Depreciation Expense

Cost of Goods Sold

1 point 12.

A company sold a piece of manufacturing equipment for $30,000 cash. The equipment had been listed on the balance sheet at a net book value of $25,000, so the company recorded a gain on sale of equipment of $5,000.

Which of the following items would beincreasedby this equipment sale transaction? (check all that apply)

Cash from Investing

Cash from Financing

Cost of Goods Sold

Retained Earnings

Cash from Operations