Question
All of the following are reported as assets except * Accounts receivable Warranty Liability Notes receivable Prepaid Expense A company receives $1,000 including 6% sales
All of the following are reported as assets except *
Accounts receivable
Warranty Liability
Notes receivable
Prepaid Expense
A company receives $1,000 including 6% sales tax. The journal entry to record the sale would include a *
Credit to Sales Revenue for $1,000
Debit to Sales Revenue for $1,000
Debit to Sales Revenue for $943.3
Credit to Sales revenue for $943.3
The maturity date of a 7-month interest bearing note dated January 31, 2020 is *
June 30, 2020
July 31, 2020
August 31, 2020
September 30, 2020
A large stock dividend is defined as *
less than 30% but greater than 25% of the corporation's issued stock
more than 2025% of the corporation's issued stock
between 50% and 100% of the corporation's issued stock
more than 30% of the corporation's issued stock
Advertisement payable is classified as a(n) *
Revenue
Expense
Current asset
Current liability
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Internal Auditing Perceptions Of Managers And Audit Staff On Internal Audit Effectiveness Measures
Authors: Aderaw Ayaliew
1st Edition
3847345362, 978-3847345367
