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An airline purchases $200,000 of aviation fuel on account on October 10th. The fuel will be used at later date. Which of the following statements
An airline purchases $200,000 of aviation fuel on account on October 10th. The fuel will be used at later date. Which of the following statements pertaining to this event is correct? Select one: O a. The company's total expenses increase O b. The company's total assets increase O c. The company's total liabilities are unchanged d. The company's total cash balance decreases O e. The company's total equity decreases A company had several property, plant, and equipment related costs during the year. For each of the following costs, indicate whether the cost is classified as an operating expense or a capital expenditure. A. $1,500 to replace a set of winter tires for a truck B. Repairs to an asphalt parking lot, $3,600 . A. $16,700 to replace a truck transmission Operating expense Capital expenditure C Before year end adjusting entries, Accounts Receivable had a $215,000 balance. The Allowance for Doubtful Accounts had $5,460 debit balance. Based on the % of receivables method, $26,500 of year-end receivables are estimated to be uncollectible. After the year end adjusting entry for bad debt expense, what are the balances in the following accounts? an Select one: O a. F Bad Debt Expense, $31,960 and Allowance for Doubtful Accounts, $26,500. b. Bad Debt Expense, $21,040 and Allowance for Doubtful Accounts, $32,100. Bad Debt Expense, $26,500 and Allowance for Doubtful Accounts, $21,040. O d. Bad Debt Expense, $31,960 and Allowance for Doubtful Accounts, $31,960. O e. Bad Debt Expense, $21,040 and Allowance for Doubtful Accounts, $26,500. O c
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