This preview shows pages 1–3. Sign up to view the full content.
This preview has intentionally blurred sections. Sign up to view the full version.View Full Document
Unformatted text preview: 6 184,000 A d v a n ce s a p pl ie 164,000 d to or d er s sh ip p e d in 2 6 A d v a n ce s a p pl ic a bl e to or d er s ca n ce le d in 2 6 50,000 In Black’s December 31, 2006, balance sheet, what amount should be reported as a current liability for advances from customer? a. $0 b. $88,000 c. $138,000 d. $148,000 Answer: b 2. Which of the following is generally associated with payables classified as accounts payable? Periodic Payment Secured of Interest by Collateral a. No No b. No Yes c. Yes No d. Yes Yes Answer: a...
View Full Document
This note was uploaded on 03/30/2010 for the course COB ACCY 202 taught by Professor Shapland during the Spring '10 term at University of Illinois, Urbana Champaign.
- Spring '10