Question
Solve the followinig question 84.- The entry to record a payment on a $ 900 account within the 1% discount period would include a: a.
Solve the followinig question
84.- The entry to record a payment on a $ 900 account within the 1% discount period would include a:
a. debit to accounts payable for $900
b. debit to account payable for $891
c. credit to purchases for $900
d. debit to cash for $891
83.- Pasqual journalized and posted an entry of $ 2,000 debit to Cash and $2,000 credit to Service Fees. The correct amount on the billing was $200. The entry to correct this error is
a. debit cash $1,800, credit service fees $1,800
b. debit service fees, $1,800 credit cash $1,800
c. debit service fees, $2,800, credit cash $2,000
d. debit service fees, $200, credit cash $200
82.- Johnson Hardware has total assets of $75,000. What are the total assets if new baking equipment is purchased for $10,000 cash?
a. $85,000
b. $65,000
c. $10,000
d. $75,000
79.- During the month of October, Matthew invested $5,000, in starting his company. Mathew{s Online Service. The proper journal entry would be:
a.- Cash $5,000 Matthews Capital $5,000
b. Matthews Capital 5,000 Cash 5000
c. Cash 5,000 Online fees 5,000
d. Matthews capital 5,000 Online fees 5,000
77.- After the closing entries have been posted
a. the temporary accounts are zeroed out
b, the capital account includes the current net profit or loss
c. the post- closing trial balance is prepared
d. all of these answers are correct
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