Presented is information related to DFD Co. for its first month of operations. Determine the balances in the accounts payable subsidiary ledger. What is the Accounts Payable balance in the general ledger at the end of January? Credit purchases Cash paid Jan 3rd Gada Co. 15000 Jan 5rd Gada Co. 8000 10th Maitha Co.7,000 15th Maitha Co. 4,000 Select one: O 3000 zero O 10,000 O 7000 2 reporting of cash: cash is listed first in the current assets section out of Select one: True O False Previous page Next page vigation 17 20 19 18 21 | 22 16 15 13 12 10 14 9 7 3 5 4 6 ns Jestion 3 An increase in an expense: 1 yet swered orked out of DO Select one: O Decreases liabilities O Increases assets. Flag estion O Increases revenues. Decreases owner's equily. Previous page Next page iz navigation 21 20 19 17 15 14 13 16 18 12 10 2 8 2 6 4 5 4 All checks should be prenumbered is related to which internal control principle: ut of Select one: O Documentation procedures O Physical controls O Independent internal verification Human resource controls Previous page Next page vigation 18 19 20 | 21 | 2 Rami Mhd recorded the following transactions in a general journal during the month of March. Dr Cr of Mar. 4 Dr. Cash 10,000 Cr. Service Revenue 10,000 Mar. 15 Dr. Salaries and Wages Expense 2500 2500 Cr. cash Mar. 19 Dr. Utilities Expense 425 Cr. Cash 1425 The cash balance will be shown after Posting these entries to the Cash account sno red Owner's Capital has a beginning total of $60,000 and an ending total of $110,000. If the owner withdrew $20,000 during the period for personal use, net income must have been out of Select one: O $80,000 O $70,000 O $170,000 O $50,000 Previous page Next page n7 ed If liabilities increased by $20,000 and owner's equily increased by $8,000 during a period of time, then total assets must change by what amount and direction during that same period? out of Select one: O $12,000 increase. O $28,000 decrease. O $28,000 increase. O $20,000 increase. Previous page Next page n8 ed Independent internal verification indicates that daily cash counts should be made by cashier department supervisors. out of Select one: True O False Previous page Next page tion 9 et ered ed out of Khalid, Rami, and Saleh formed a partnership. When applicable, the articles of co-partnership state that salaries are to be paid first, interest on partners' capital second, with the remainder to be divided equally. Net income for the year was $500,000. The partnership agreement provides for salaries of $110,000 for Khalid and $90,000 for Rami, with no interest paid on capital balances. Partner Rami's share of net income is $210,000 . Select one: True O False Previous page Next page
