1. Which of the following is a recordable event or item? Answer a. Changes in ma
ID: 2378102 • Letter: 1
Question
1. Which of the following is a recordable event or item?
Answer
a.
Changes in managerial policy
b.
The value of human resources
c.
Changes in personnel
d.
None of these
2. A trial balance may prove that debits and credits are equal, but
Answer
a.
amount could be entered in the wrong account.
b.
a transaction could have been entered twice.
c.
a transaction could have been omitted.
d.
all of these.
3.Mune Company recorded journal entries for the declaration of $100,000 of dividends, the $64,000 increase in accounts receivable for services rendered, and the purchase of equipment for $42,000. What net effect do these entries have on owners
Explanation / Answer
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d.None of these
d.all of these
c.Decrease of $36,000
c.not collected and currently matched with expenses
a.debit Rent Revenue and credit Unearned Rent Revenue, $6,000
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