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help plzz A computer taken from a business for the owner's use at home should be debited to the Drawings account True False Question 9
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A computer taken from a business for the owner's use at home should be debited to the Drawings account True False Question 9 (1 point) Repair work was done for a customer $100 cash was received, with the remaining $240 due 25 days later In recording this transaction, the accountant should debit Accounts Payable $240, credit the Revenue account S140 credit the Revenue account $340 debit the Bank account $340 Question 10 (1 point) The date in the heading of the income statement is the day the statement was prepared True False Identify the transaction that is NOT an expense for a business. payment for new office chairs payment for gasoline for delivery truck payment of salaries to employees payment of telephone bill Question 12 (1 point) The reason that an expense is recorded by a debit entry is expenses must be matched with their corresponding revenue. the expense decreases owner's equity debits must equal credits expenses involve a credit to Bank. Question 13 (1 point) Capital Revenue, Expense and Drawings are all classifications of owner's equity accounts. True False Which of the following would result in an exceptional account balance? A customer who owes us $500 sends us a cheque for $550. The business owed $200 to a supplier but wrote a cheque for $2000 as payment. A business which has $3000 in the bank writes a cheque for $3500. All the above would result in an exceptional balance. Question 15 (1 point) The terms drawings and expenses are interchangeable True False Step by Step Solution
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