Question
Abe & Anna Split Ice Cream Parlour paid $2,350 cash for a 5-month advertising contract on September 30, 2016. The amount of advertising expense reported
Abe & Anna Split Ice Cream Parlour paid $2,350 cash for a 5-month advertising contract on September 30, 2016. The amount of advertising expense reported on the Income Statement for the year ending December 31, 2016, for this advertising contract is |
Multiple Choice
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$1,410
$2,350
$1,880
$470
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On November 1, 2016, Paige Turner Publishing received $54,000 in cash for subscriptions covering one year, recording the entry as a debit to Cash and a credit to Unearned Subscriptions. The correct adjusting entry at December 31, 2016, is |
Multiple Choice
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Debit Unearned Subscriptions $9,000; credit Subscriptions Income $9,000.
Debit Unearned Subscriptions $54,000; credit Subscriptions Income $54,000.
Debit Unearned Subscriptions $4,500; credit Subscriptions Income $4,500.
Debit Subscriptions Income $9,000; credit Unearned Subscriptions $9,000.
An employee whose regular hourly rate is $29 and whose overtime rate is 1.5 times the regular rate worked 44 hours one week. The employee's gross pay was |
Multiple Choice
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$1,334.0
$1,276
$1,218.0
$1,914.0
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The adjusting entry for wages owed but not paid at the end of the fiscal year increases Wages Expense and decreases Wages Payable. TRUE OR FALSE
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