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PLEASE IMMEDIATELY!!! Use the following accounts of Amy's Winehouse at year end to answer questions #16-#18. Notes payable $5,000; Accounts receivable $2,500; Cash $2,500; Land
PLEASE IMMEDIATELY!!!
Use the following accounts of Amy's Winehouse at year end to answer questions #16-#18. Notes payable $5,000; Accounts receivable $2,500; Cash $2,500; Land $11,000; Accounts payable $???; Equipment $3,100; Capital $8,000. Note these are all of the accounts for the year. 16.) Total assets for HIJ Corporation at year end are: (a.) $8,100 (b.) $19,100 (c.) $24,100 (d.) $32.100 (e.) none of the above 17.) Accounts payable for HIJ Corporation at year end are: (a.) $4.900 (b.) $5,100 (c.) $5.150 (d.) $5,850 (e.) none of the above 18.) Total liabilities for HIJ Corporation at year end are: (a.) $10,100 (b.) $10,150 (c.) $10.850 (d) $11,150 (e.) none of the above 19.) A normal balance is the side of the account where increases are recorded. Indicate which answer shows the correct normal balances for each type of account: (a.) Credit of Revenue; Debit of Expense; Debit of Liability (b.) Debit of Revenue; Credit of Expense; Credit of Liability (c.) Debit of Revenue; Credit of Expense; Debit of Liability (d.) Credit of Revenue; Credit of Expense; Credit of Liability (e.) none of the above 20.) Indicate the correct accounts to be debited and credited when a company has paid salaries expense: (a.) Dr. Salaries Payable, Cr. Cash (6.) Dr. Cash, Cr. Salaries Payable (c.) Dr. Salaries Payable, Cr. Salary Expense (d.) Dr. Salary Expense, Cr. Salaries Payable (e.) none of the aboveStep by Step Solution
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