Question
1) When wages are incurred in one period and paid in the next period, this leads to which of the following accounts appearing in the
1) When wages are incurred in one period and paid in the next period, this leads to which of the following accounts appearing in the statement of financial position?
Select one:
a.Accounts receivable.
b.Wages expense.
c.Service revenue.
d.Wages payable.
2) Received $10000 cash from a customer invoiced 2 months ago. The journal entry to record the transaction is:
Select one:
a. debit, cash $10000 and credit, accounts receivable $10000.
b. debit, cash $10000 and credit, revenue $10000.
c. debit, accounts receivable $10000 and credit, revenue $10000.
d. debit, revenue $10000 and credit, cash $10000.
3) In recording accounting transactions, evidence that a transaction has taken place is obtained from:
Select one:
a.the ledger.
b.the journal.
c.source documents.
d.the trial balance.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started