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just need answer Question 22 On 2 May 2018 Viva Corp sells goods to Nashi and requests payment be made within 30 days. On the
just need answer
Question 22 On 2 May 2018 Viva Corp sells goods to Nashi and requests payment be made within 30 days. On the balance sheet for Viva Corp at 2 May 2018 the amount owing from Nashi would be reported as: Select one: O a. Accounts receivable. O b. Accounts payable. OC. An overdue customer account. O d. An expense. Question 11 Accountants who administer or wind-up businesses unable to pay debts specialise in the area of: Select one: a. General accounting. O b. Auditing. O c. Cost accounting. O d. Insolvency. Question 105 A separate ledger account is maintained for each: O a day of business. O b. business transaction. O c. item that appears in the financial reports. O d. journal entry. Question 121 On the first day of the financial year Merv's Trucks purchased a truck for $16 000. The truck is to be depreciated by 25% each year and has a zero residual value. At the end of the first year the adjusting entry to record depreciation on the truck is: DR Accumulated depreciation - Truck $4000; CR Depreciation expense- Truck 4000 O b. DR Depreciation expense- Truck $4000; CR Accumulated depreciation - Truck $4000 DR Depreciation expense- Truck $12000; CR Accumulated depreciation - Truck $12000 O d. DR Depreciation expense- Truck $4000; CR Truck $4000 Question 87 In preparing its 2019 adjusting entries, Zena Ltd forgot to adjust the Office Supplies (asset) account for the amount of supplies used during the year. As a result of this error: Select one: O a. 2019 profit is overstated, the balance of equity is correct, and assets are overstated. O b. 2019 profit is overstated, the balance of equity is overstated, and assets are correctly stated. OC. 2019 profit is understated, the balance of equity is understated, and assets are understated. O d. 2019 profit is overstated, the balance of equity is overstated, and assets are overstatedStep by Step Solution
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