D= =E= = =E3 ==E= 5=E= CE= O CE 3 =E= CE= CE= CE= CE= nc Niagara College Canada CE= A. whether the company is generating enough cash to make payments on its loans. B. whether the company has enough assets to cover its liabilities. C. whether the company's share price is likely to fall, signalling a good time to buy. D. whether the company is able to generate profit and distribute dividends. MEDIEN Q:27) Giraffe Company paid its employees $50,000 in September for work done that month. What journal entry should the company record in September, assuming no amounts were owed to employees at the end of August? A. Debit cash, credit wages revenue. B. Debit cash, credit wages payable. C. Debit wages revenue, credit cash. D. Debit wages expense, credit cash. Q:28) Which account is least likely to be credited when an expense is recorded? A. Cash B. Accounts payable C. Prepaid expenses D. Accounts receivable TORONTO SCHOOL OF MANAGEMENT Q:29) Porcupine Company earned $10,000 revenue for services provided. Which of the following is correct? norly iden A. The company should credit accounts receivable, regardless of the timing of cash receipts. The company should credit accounts receivable, but only if cash has not been received. B. e. The company should credit revenue, regardless of the timing of cash receipts. D. The company should credit revenue, but only if cash has been received. Q:31) A company expects to have a cash inflow of $50,000 and cash outflow of $60,000 for the Month of April. If the company has a desired minimum cash balance of $20,000, how much short term borrowing will the company need for the month? A. $80,000 C. $30,000 603 Q:30) Which of the following groups accounts contains only those accounts that normally have credit balances? A. Accounts payable, retained earnings, service revenue B. Equipment, cash, contributed capital C. Notes payable, wages payable, rent expense D Accounts receivable, accounts payable, deferred revenue Q:32) Your company buys 500 pairs of socks at $3 each (including other purchasing costs such as transportation) and sells them for $5 each. Which of the following statements is true? DATE: e.com SC982-E ACHINE RON SCORE 100 ITEMS RM NO. SC982-E SUBJECT: 2 NAME: B. $40,000 D. $20,000 (09:0

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