Date when the firm COMPREHENSIVE FINAL SO A company uses the allowance method to account for uncollectible accounts receivables of a specifie customer's account receivable a total expenses for the period are increased b. net realizable value of accounts receivable increases c. total current assets are reduced d. there is no effect on total current assets or total expenses - 31. Which of the following entries records the acquisition of office supplies on account a. Cash, debit; Office Supplies, credit b. Office Supplies, debit; Cash, credit c. Office Supplies, debit; Accounts Payable, credit d. Accounts Receivable, debit: Office Supplies, credit 32. Fixed assets are ordinarily presented on the balance sheet a. in a separate section along with intangible assets b. a replacement costs c. at current market values d. at cost less accumulated depreciation 33. Allowance for Doubtful Accounts has a debit balance of $600 at the end of the year before adjustment), and an analysis of accounts in the customers ledger indicates uncollectible receivables of $13,000. Which of the following entries records the proper adjusting entry for bad debt expense? a. debit Allowance for Doubtful Accounts, S600; credit Bad Debt Expense, $600 b. debit Bad Debt Expense, $12,400; credit Allowance for Doubtful Accounts, $12,400 c. debit Bad Debt Expense, S600; credit Allowance for Doubtful Accounts, $600 d. debit Bad Debt Expense, $13,600; credit Allowance for Doubtful Accounts, $13,600 34. Which of the following groups of accounts increase with a credit? a common stock, revenues, expenses b. liabilities, common stock, revenues c. assets, common stock, revenues d. none of these 35. Which of the following entries records the receipt of cash for two months' rent? The cash was received in advance of providing the service. a. Cash, debit; Prepaid Rent, credit b. Cash, debit; Uneamed Rent, credit c. Prepaid Rent, debit; Rent Revenue, credit. d. Cash, debit; Rent Expense, credit. Dengage Learning. Powered by Cognero Page 6