Vics mart collects 700 of its accounts receivable the

  • Ashworth College
  • ACCT A01V
  • Test Prep
  • psalms23forme
  • 15
  • 100% (6) 6 out of 6 people found this document helpful

This preview shows page 4 - 8 out of 15 pages.

Question 5 of 205.0/ 5.0 PointsVic's Mart collects $700 of its accounts receivable. The expanded accounting equation impact is __________.A. cash and capital increase $700B. cash and revenue increase $700C.cash increases and accounts receivable decreases $700D. accounts receivable decreases and capital increases $700
Question 6 of 205.0/ 5.0 PointsA company has $4,500 in its Revenue account at the end of a period. The Expenses are as follows: Rent, $750; Utilities, $150; Salaries, $2,400; Insurance, $225. The net income (loss. for the period is __________.
Question 7 of 205.0/ 5.0 PointsExpenses __________.
Question 8 of 200.0/ 5.0 PointsIf beginning capital was $110,000, ending capital is $95,000, and the owner's withdrawals were $10,000, the amount of net income or net loss was __________.
Question 9 of 205.0/ 5.0 PointsWhich of the following transactions has no effect on owner's equity?A. paying salaries expenseB.equipment purchaseC. billing for services renderedD. a withdrawal

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture