these multiple choice Questions from ACCOUNTING PRINCIPLES 1 Course.I need the final. 3At September 1, 2016, Hotel Company reported owner's capital of $147,000. During the month, the Company generated revenues of $48,000,incurred expenses of S26.000, purchased equipment for $5,000 and withdrew cash of $3.000. What is the amount of owner's capital at September 30,2016?O a. $169.000O b. $161.000Oc S166,000O d. $171.000On May 25, Carlin Company received a $550 check from Andy Jeter for services to be performed in the future. The bookkeeper for Carlin Companyincorrectly debited Cash for $550 and credited Accounts Receivable for $550. The amounts have been posted to the ledger. To correct this entry, thebookkeeper should:O a. debit Accounts Receivable $550 and credit Cash $550.O b. debit Cash $550 and credit Unearned Service Revenue $550.O c debit Accounts Receivable $550 and credit Service Revenue $550.O d. debit Accounts Receivable $550 and credit Unearned Service Revenue $550.

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At September 1. 2016. Hotel Company reported owner's capital of $147.000. During the month the Company generated revenues of $48.000. incurred expenses of S26.000, purchased equipment for $5.000 and withdrew cash of $3.000. What is the amount of owner's capital at September 30. 2016? a. S169.000 b. $161.000 O c S166.000 O d. 5171.000

At September 1. 2016. Hotel Company reported owner's capital of $147.000. During the month the Company generated revenues of $48.000. incurred expenses of S26.000, purchased equipment for $5.000 and withdrew cash of $3.000. What is the amount of owner's capital at September 30. 2016? a. S169.000 b. $161.000 O c S166.000 O d. 5171.000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

these multiple choice Questions from ACCOUNTING PRINCIPLES 1 Course.I need the final.

3
At September 1, 2016, Hotel Company reported owner's capital of $147,000. During the month, the Company generated revenues of $48,000,
incurred expenses of S26.000, purchased equipment for $5,000 and withdrew cash of $3.000. What is the amount of owner's capital at September 30,
2016?
O a. $169.000
O b. $161.000
Oc S166,000
O d. $171.000
On May 25, Carlin Company received a $550 check from Andy Jeter for services to be performed in the future. The bookkeeper for Carlin Company
incorrectly debited Cash for $550 and credited Accounts Receivable for $550. The amounts have been posted to the ledger. To correct this entry, the
bookkeeper should:
O a. debit Accounts Receivable $550 and credit Cash $550.
O b. debit Cash $550 and credit Unearned Service Revenue $550.
O c debit Accounts Receivable $550 and credit Service Revenue $550.
O d. debit Accounts Receivable $550 and credit Unearned Service Revenue $550.

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