Notes or accounts receivables that result from sales transactions are often called a. sales receivables b. non-trade receivables c. trade receivables. d. merchandise receivables. A company just starting business made the following four inventory purchases in June: June 1 150 units Y 5.200 June 10 200 units 7,800 June 15 200 units 8,400 June 28 150 units 6,600 Total Y 28,000 - A physical count of merchandise inventory on June 30 reveals that there are 200 units on hand. Using the average-cost method, the amount allocated to the ending inventory on June 30 is a V28,000 b. 120,000 OOO 0 17,670 O d. 18.000 X + FouajtqoplbXcEDHAGWWTAPSBASSIKWROWSg/viewform submission Chimewelle b. 120.000 c. 47,670 d. 18.000 In preparing its bank reconciliation for the month of April 2011, Franklin, Inc. has available the following information - Balance per bank statement, 4/30/11 $39,140 NSF check returned with 4/30/11 bank statement 450 Deposits in transit. 4/30/11 5,000 Outstanding checks, 4/30/115.200 Bank service charges for April 20 What should be the adjusted cash balance at April 30, 2011? a $39 370 b $38940 c. $38,490 d. S38,470 Write your name in the blank below Able Towing Company purchased a tow truck for $75.000 on January 1 2010 Resishtina Able Towing Company purchased a tow truck for $75,000 on January 1, 2010. It was originally depreciated on a straight-line basis over 10 years with an assumed residual value of $15,000. On December 31, 2012, before adjusting entries had been made, the company decided to change the remaining estimated life to 4 years (including 2012) and the residual value to $2,500. What was the depreciation expense for 2012? a $7,500 b. $6,000 c. $18,750 d. $15,125. A credit balance in Cash Over and Short is reported as a[n) - a asset O b. liability c. miscellaneous expense O d. miscellaneous revenue. O + atqopf7bXcTE HASWws TAKPBkav MSIKWIROWK9g/viewform?hr submission ChkligmeweUBES The four subdivisions for plant assets are a. land, land improvements, buildings, and equipment b. intangibles, land, buildings, and equipment c. furnishings and fixtures, land, buildings, and equipment OO d. property, plant, equipment, and land. Which one of the following is not an objective of a system of internal controls? a. Safeguard company assets O O O b. Overstate liabilities in order to be conservative c. Enhance the accuracy and reliability of accounting records O d. Increase efficiency of operations A truck was purchased for Y120,000 and it was estimated to have a 124,000 residual value at the end of its useful life. Monthly depreciation expense of Y2.000 was recorded using the straight-line method. The annual depreciation rate is a 20% + bXcEDHA9WwsTAkP5BkqxM6SIKW.RcowX9g/viewform?hr submission=Chlmewe UBEHAN A truck was purchased for 120,000 and it was estimated to have a 24.000 residual value at the end of its useful life. Monthly depreciation expense of 2,000 was recorded using the straight-line method. The annual depreciation rate is a. 20% O 6.2% c.8% d. 25% The cost of land does not include O a real estate brokers' commission O b. annual property taxes O c. accrued property taxes assumed by the purchaser d title lees The term "FOB denotes qopl/bXc/bHgWw.TAKPSBkqxMSIKW.ROWSg/viewform?hr submission Chaklee Le property wye para O d. title fees The term "FOB" denotes" a free on board b. freight on board c. free only (to) buyer o d. freight charge on buyer The book value of an asset is equal to the o a. asset's fair value less its historical cost b. blue book value relied on by secondary markets c. replacement cost of the asset d. anset's cost less accumulated depreciation Beginning inventory plus the cost of goods purchased equal cost of goods sold Notes or accounts receivables that result from sales transactions are often called a. sales receivables b. non-trade receivables c. trade receivables. d. merchandise receivables. A company just starting business made the following four inventory purchases in June: June 1 150 units Y 5.200 June 10 200 units 7,800 June 15 200 units 8,400 June 28 150 units 6,600 Total Y 28,000 - A physical count of merchandise inventory on June 30 reveals that there are 200 units on hand. Using the average-cost method, the amount allocated to the ending inventory on June 30 is a V28,000 b. 120,000 OOO 0 17,670 O d. 18.000 X + FouajtqoplbXcEDHAGWWTAPSBASSIKWROWSg/viewform submission Chimewelle b. 120.000 c. 47,670 d. 18.000 In preparing its bank reconciliation for the month of April 2011, Franklin, Inc. has available the following information - Balance per bank statement, 4/30/11 $39,140 NSF check returned with 4/30/11 bank statement 450 Deposits in transit. 4/30/11 5,000 Outstanding checks, 4/30/115.200 Bank service charges for April 20 What should be the adjusted cash balance at April 30, 2011? a $39 370 b $38940 c. $38,490 d. S38,470 Write your name in the blank below Able Towing Company purchased a tow truck for $75.000 on January 1 2010 Resishtina Able Towing Company purchased a tow truck for $75,000 on January 1, 2010. It was originally depreciated on a straight-line basis over 10 years with an assumed residual value of $15,000. On December 31, 2012, before adjusting entries had been made, the company decided to change the remaining estimated life to 4 years (including 2012) and the residual value to $2,500. What was the depreciation expense for 2012? a $7,500 b. $6,000 c. $18,750 d. $15,125. A credit balance in Cash Over and Short is reported as a[n) - a asset O b. liability c. miscellaneous expense O d. miscellaneous revenue. O + atqopf7bXcTE HASWws TAKPBkav MSIKWIROWK9g/viewform?hr submission ChkligmeweUBES The four subdivisions for plant assets are a. land, land improvements, buildings, and equipment b. intangibles, land, buildings, and equipment c. furnishings and fixtures, land, buildings, and equipment OO d. property, plant, equipment, and land. Which one of the following is not an objective of a system of internal controls? a. Safeguard company assets O O O b. Overstate liabilities in order to be conservative c. Enhance the accuracy and reliability of accounting records O d. Increase efficiency of operations A truck was purchased for Y120,000 and it was estimated to have a 124,000 residual value at the end of its useful life. Monthly depreciation expense of Y2.000 was recorded using the straight-line method. The annual depreciation rate is a 20% + bXcEDHA9WwsTAkP5BkqxM6SIKW.RcowX9g/viewform?hr submission=Chlmewe UBEHAN A truck was purchased for 120,000 and it was estimated to have a 24.000 residual value at the end of its useful life. Monthly depreciation expense of 2,000 was recorded using the straight-line method. The annual depreciation rate is a. 20% O 6.2% c.8% d. 25% The cost of land does not include O a real estate brokers' commission O b. annual property taxes O c. accrued property taxes assumed by the purchaser d title lees The term "FOB denotes qopl/bXc/bHgWw.TAKPSBkqxMSIKW.ROWSg/viewform?hr submission Chaklee Le property wye para O d. title fees The term "FOB" denotes" a free on board b. freight on board c. free only (to) buyer o d. freight charge on buyer The book value of an asset is equal to the o a. asset's fair value less its historical cost b. blue book value relied on by secondary markets c. replacement cost of the asset d. anset's cost less accumulated depreciation Beginning inventory plus the cost of goods purchased equal cost of goods sold