Unit II Assessment – BBA 2201-15P Principles of Accounting I.pdf

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7/14/2018Review Test Submission: Unit II Assessment – BBA 2201-...1/6BBA 2201-15P-1A19-S3, Principles of Accounting IUnit IIReview Test Submission: Unit II AssessmentReview Test Submission: Unit II AssessmentUserVictor VaughanCourseBBA 2201-15P-1A19-S3, Principles of Accounting ITestUnit II AssessmentStarted7/11/18 2:43 PMSubmitted7/14/18 3:29 PMDue Date7/17/18 11:59 PMStatusCompletedAttempt Score100 out of 100 pointsTime Elapsed72 hours, 46 minutesInstructionsResults DisplayedSubmitted Answers, Correct Answers, FeedbackAssessment InstructionsQuestion 1A business purchases equipment by paying $7,517 in cash and issuing a note payable of$19,410. Which of the following occurs?Question 2A sole proprietorship reported the following transactions for the month of March. Thetransactions have been journalized and posted to the proper accounts.March 1 The business received $8,000 cash from the owner in exchange for capital.March 2 Paid the first month's rent of $600.March 3 Purchased equipment by paying $1,000 cash and executing a note payable for$3,000.March 4 Purchased office supplies for $600 cash.March 5 Billed a client for $11,000 of design services completed.March 6 Received $9,000 on account for the services previously recorded.What is the balance in Accounts Receivable?NotificationsMy CommunityHome

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Term
Spring
Professor
na
Tags
Accounting, Balance Sheet, Correct Answer, Generally Accepted Accounting Principles, Review Test Submission, Victor Vaughan

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