Data for adjusting entry described as "accrued wages, $2,020" Requires a A. Debit to Account receivable and a credit to wages expense B. Debit to wages expense and a credit to wages payable C. Debit to dividends and a credit to wages payable D. Debit to wages payable and a credit to wages expense
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- For the following accounts please indicate whether the normal balance is a debit or a credit. Wages Payable [ Select ] [ Select ] Debit Building [Sele Credit Wages Expense [ Select]Shttps://anu.instructure.comytourses/7789/quires/34131/take Question 7 Sps What is the impact on the accounting equatioon when an accunts receivable is collected? both sides increase both sides decrease only the Asset side changes the total of neither side changes Question 8 SptsTest: Second Exam F17 This Question: 1 pt The entry to write off an account receivable under the allowance method will T A. increase total assets O B. increase net income C. reduce net income D. have no effect on net income Click to select your answer Search the web and Windows
- On what information return (T-slip) is the amount withdrawn from an individual's RRSP account reported? Question 16 options: a) T4RSP slip b) T4 slip c) T5 slip d) T4A slipEe.45.Transactions Alex and Hagi decided to open a home cleaning service company, H@L The following information is a partial list of transactions from H@L Inc. January 1- Alex and Hagi each donated $ 25.000 in exchange for common stock to start the business. March 3- H@L Inc., paid $ 3.000 cash for a two-year insurance policy that was effective immediately. March 15-The Company purchased $8.000 of supplies on account. April 5- The Company purchased some cleaning equipment for $10.000 cash. The equipment should last for five years with no residual value. H@L company will take a full year of depreciation in 2020. May 1-H@L Inc., purchased a year's worth of advertising in a local newspaper for $ 1.200 cash. September 1- The Company obtained a nine-month loan for $ 15.000 at 5% from Do Not Trust Bank, with interest and principal payable on June 2021. December 31- The Company paid $ 5.000 of accounts payable owed from transaction 3. December 31- The Company earned service revenues of $ 26.225, of…
- Nn.156. Subject :- AccountFollowing is a list of credit customers along with their amounts owed and the days past due at December 31. Following that list are five classifications of accounts receivable and estimated bad debts percent for each class. Percent uncollectible Customer BCC Company Lannister Company Mike Properties Ted Reeves Jen Steffens Accounts Receivable $ 4,700 1,700 5,700 850 2,700 0 1% Required 1 Required 2 1 to 30 3% Days Past Due 16 110 73 35 Days Past Due 31 to 60 5% 61 to 90 8% 1. Create an aging of accounts receivable schedule of accounts receivable by age similar to the table given above. Calculate the estimated balance for the Allowance for Doubtful Accounts. 2. Assuming an unadjusted credit balance of $170, record the required adjustment to the Allowance for Doubtful Accounts. Complete this question by entering your answers in the tabs below. Estimated balance for Allowance for Doubtful Accounts Over 90 12% Create an aging of accounts receivable schedule of accounts receivable by age…Use the following T-account for Careful Corporation to answer questions 11 and 12: Accounts Receivable Beg. Bal. $ 187 18 150 6 64 15 19 End. Bal. $ ? The ending balance of Accounts Receivable for Careful is: Group of answer choices A. $401 debit B. $343 debit C. $343 credit D. $ 58 credit
- Prepare a multi-step income statement in proper form.PA4. LO 4.2Identify which type of adjustment is associated with this account, and what is the other account in the adjustment? Choose accrued revenue, accrued expense, deferred revenue, or deferred expense. accounts receivable interest payable prepaid insurance unearned rentQ#17: Continue with Zeal Company above. Consider the $12 of interest income reported on the June bank statement as well as the following categories discussed in class for adjusting journal entries. Select the true statement below. (i) Accrued Revenue (ii) Adjustment of an existing deferred revenue (iii) Error Correcting. A. Zeal would make a June AJE: debit Cash $12 and credit Interest Income $12. Classification: (i) above. B. Zeal would make a June AJE: debit Interest Receivable $12 and credit Interest Income $12. Classification: (i) above. C. Zeal would make a June AJE: debit Cash $12 and credit Interest Income $12. Classification: (iii) above. D. Zeal would make a June AJE: debit Cash $12 and credit Interest Income $12. Classification: (ii) above. E. Zeal would make a June AJE: debit Interest Receivable $12 and credit Interest Income $12. Classification: (iii) above.