Question
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 be
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 be increased by this cash collection transaction? (check all that apply)
Total Assets Revenue Accounts Receivable Cash from Operations Total Liabilities
A company declared $500,000 of dividends that will be paid two months from now. Which of the following items would be increased by this dividend declaration transaction? (check all that apply)
Dividend Expenses Current Assets Cash from Operations Dividends Payable Net Income
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 be increased by this advertising adjusting entry? (check all that apply)
Prepaid Advertising Total Liabilities Cash from Operations Cost of Goods Sold Advertising Expense
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 be increased by this depreciation adjusting entry? (check all that apply)
Cash from Operations Cost of Goods Sold Depreciation Expense Retained Earnings Total Assets
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