Post Company uses $10,000 in cash to pay $10,000 on accounts payable. This would result in:
$10,000 credit to cash and a $10,000 credit to accounts payable.
$10,000 debit to cash and a $10,000 debit to accounts payable.
$10,000 credit to cash and a $10,000 debit to accounts payable.
$10,000 debit to cash and a $10,000 credit to accounts payable.
A company was recently formed with $ 100,000 cash contributed to the company by stock-holders. The company then borrowed $ 50,000 from a bank and bought a $ 20,000 vehicle for cash. They also purchased $10,000 of equipment by paying $ 2,000 in cash and issuing a note for the remainder. What is the amount of total assets to be reported on the balance sheet?
In regard to the balance sheet, which of the following statements is true?
Income and expenses are reported on the balance sheet.
The balance sheet reflects both a point in time and a period of time.
The balance sheet reflects a period of time.
The balance sheet reflects a point in time.
Which of the following are current assets?
Cash, accounts receivable, inventory, accounts payable
Cash, accounts receivable, inventory, supplies
Cash, equipment, inventory, vehicle
Cash, accounts receivable, inventory, building
Which of the following true In regard to current liabilities?
Current liabilities are liabilities that you recently paid.
Notes payable is normally a current liability.
Equipment, vehicles, buildings and land are all current liabilities.
Current liabilities are debts and obligations that must be paid within 12 months or less.
A company purchases $23,000 of supplies in the current month and promises to pay for them next month. How would the company record a liability for the supplies?
This liability is not a recognized liability until the payment is due.
$23,000 would be posted as a credit to accounts payable.
$23,000 would be posted as a credit to supplies expense.
$23,000 would be posted as a debit to accounts payable.
Alpha Company borrows $200,000 from its bank and buys equipment. How does this transaction affect the accounting equation?
Assets and Liabilities both increase by $200,000.
Assets and Equity both decrease by $200,000.
Assets, liabilities and equity are unchanged.
Equity increase by $200,000 and liabilities decrease by $200,000.
Bravo Company purchases Land for $200,000 paying cash of $$80,000 and signing a note for the balance. The accounting entry would be:
Debit Land $120,000; Credit Notes Payable $120,000.
Debit Land $200,000; Credit Cash $200,000.
Debit Land $200,000; Credit Cash $80,000; Credit Notes Payable $120,000.
Debit Land $80,000; Credit Cash $80,000.
Why Hire a Professional Essay Writer from essayprohire
The quality of an essay is important
If you want to be successful in the essay writing world, it’s important to make sure that the quality of your work is high. A professional essay writer from us will be able to provide you with high-quality papers, and they will also have the experience necessary to write effective essays. This means that you won’t have to worry about any errors or problems with your essays – they will be perfect.
Our Customer service is top-notch
If you have a problem with your essay, or if you just need a little help writing it, then you should contact our customer service. Our customer service is always available to help you with whatever you need – from getting your essay correct to helping you with the grammar and punctuation. We’re here to help, so don’t hesitate to call us today!
Our offer on Unlimited Revisions
If you're looking for essaywriting help, then you should definitely consider getting help from a essaywritinghelpnow. However, if you're not sure what you need or whether you have the time or resources to do the research yourself, then you might want to consider getting unlimited revisions done by our team of experts. O
Our guarantee to Confidentiality
We understand the importance of confidentiality, and we will never share your personal information with anyone without your permission. That’s why we offer a one-year guarantee that your essays will remain confidential. If you decide that you no longer want us to write your essays, we will still respect your privacy and will destroy all the evidence that we had of your work.
We believe that it is important to have a reliable and trustworthy essaywriter. That’s why we offer a 100% satisfaction guarantee on all of our essays. We take the time to get to know our clients, and we will always make sure that our essays are of the highest quality. We understand that not everyone is happy with their first essay, so we want to make sure that you’re always satisfied with the results of our work.
Our punctuality and quality
At our company, we pride ourselves on our punctuality and quality. We understand that it can be difficult to get essays written on time, and we’re here to help you out! Our writers are always available to help you with your essay, and we guarantee that you’ll receive the best possible product. We also have a strict no-nonsense policy when it comes to plagiarism, so you can be sure that your essay will be of the highest quality.
Try it now!
How it works?
Follow these simple steps to get your paper done
Place your order
Fill in the order form and provide all details of your assignment.
Proceed with the payment
Choose the payment system that suits you most.
Receive the final file
Once your paper is ready, we will email it to you.
So much stress and so little time? Take care of yourself: let us help you with your tasks. We offer all kinds of writing services.
No matter what kind of academic paper you need and how urgent you need it, you are welcome to choose your academic level and the type of your paper at an affordable price. We take care of all your paper needs and give a 24/7 customer care support system.
Admission and Business Papers
An admission essay is an essay or other written statement by a candidate, often a potential student enrolling in a college, university, or graduate school. You can be rest assurred that through our service we will write the best admission essay for you.
Editing and Proofreading
Our academic writers and editors make the necessary changes to your paper so that it is polished. We also format your document by correctly quoting the sources and creating reference lists in the formats APA, Harvard, MLA, Chicago / Turabian.
If you think your paper could be improved, you can request a review. In this case, your paper will be checked by the writer or assigned to an editor. You can use this option as many times as you see fit. This is free because we want you to be completely satisfied with the service offered.