1 Choose The Correct Answer For Question 1 To Question 16 All The Following Account Are Assets Except 1 Point Pre 1 (30.67 KiB) Viewed 13 times
1 Choose the correct answer: for question 1 to question 16: All the following account are assets except: * (1 Point) Prepaid Insurance Supplies Notes Payable 2 If the company has total assets BD40000 and total liabilities BD11000, then its purchased supplies for BD2500 on credit. The total assets, total liabilities and total owner's equity after purchases supplies should be: * (1 Point) Assets BD51000, liabilities BD13500 and Equity BD37500 Assets BD42500, liabilities BD13500 and Equity BD29000 Assets BD40000, liabilities BD11000 and Equity BD29000 How would the accounting equation of Amal Est, by preforming service to a customer for BD8,500 on credit: * (1 Point) + BD8,500 for account receivable and + BD85,00 for cash + BD8,500 for account receivable and + BD8,500 for revenues. + BD8,500 for account receivable and - BD8,500 for cash. If the assets of a business increased by BD170,000 and liabilities not change during a period. The owner's equity in the same period should be: * (1 Point) No Change Decreased BD170,000 Increased BD170,000
On June 1. Invested BD75,000 Land in the business. Required: The effect of the transaction on the basic accounting equation should be: * Q (1 Point) +Assets & (NE) liabilities and + Capital +Assets & (NE) liabilities and - Capital -Assets & - liabilities and + Capital 6 April 5. Purchased supplies on account BD5900 from Maha Est. Required: The effect of the transaction on the basic accounting equation should be: * (1 Point) +5900 Supplies and +5900 Cash +5900 Supplies and +5900 Account Payable +5900 Supplies and +5900 Account Receivable 7 April 7. Provided service to customer Abdulla for BD18000, received BD7000 cash and the balance is on credit. Required: The effect of the transaction on the basic accounting equation should be: * (1 Point) +7000 Cash + 11000 Account Receivable and +18000 Revenues - 7000 Cash +11000 Account Receivable and +18000 Revenues + 7000 Cash +11000 Account Receivable and -18000 Revenues 8 April 20. Paid BD1200 for wages expense Required: The effect of the transaction on the basic accounting equation should be: * (1 Point) -1200 (O.E) Wages Expense and + 1200 Cash +1200 (O.E) Wages Expense and +1200 Cash - 1200 (O.E) Wages Expense and -1200 Cash
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