key1A - cash RE(revenue Sold coupons cash unearned revenue...

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Exam 1, Set 1 Solutions to Practice Questions 1. A 2. C 3. B 4. A 5. B 6. E 7. D 8. B 9. A 10. C 11. C 12. A 13. C 14. C 15. A 16. A 17. B 18. C 19. A 20. B 21. C 22. A 23. E 24. E 25. B 26. E 27. D 28. E 29. F 30. G 31. A 32. G Benson Barbers Assets Liabilities Equity Contributed cash +cash +Contributed capital Paid rent -cash, +prepaid rent Purchased equipment +equipment +note payable Provided haircuts
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Unformatted text preview: +cash +RE (revenue) Sold coupons +cash +unearned revenue Signed rent agreement No transaction Purchased supplies +supplies +accounts payable Purchased doughnuts -cash -RE (doughnut expense) Paid for supplies -cash -accounts payable Bill for November +utility payable -RE (utility expense) Recorded depreciation -accumulated depreciation -RE (depreciation expense) Paid dividend -cash -RE (dividends)...
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This note was uploaded on 03/12/2012 for the course ACCT 221 taught by Professor Catherinewest during the Spring '06 term at UMass (Amherst).

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