Accounts Receivable and Increase
Question 1
Complete
Mark 0.00 out of 1.00
Flag question
Question text
The effect on the accounting equation of the business buying a computer worth $900, paying $450 cash and owing $450 to be paid in 30 days' time is:
Select one:
a. decrease the asset computers, increase the asset cash, decrease the liability accounts payable.
b. increase the asset computers, increase the asset cash, decrease the liability accounts payable.
c. increase the asset computers, decrease the asset cash, increase the liability accounts payable.
d. increase the asset computers, decrease the asset cash, decrease the liability accounts payable.
Question 2
Complete
Mark 1.00 out of 1.00
Flag question
Question text
If only one side of a $100 transaction is recorded, the imbalance in the worksheet will be:
Select one:
a. $100.
b. $200.
c. $50.
d. $0.
Question 3
Complete
Mark 1.00 out of 1.00
Flag question
Question text
The effect on the accounting equation of the business invoicing J. Bird for $1700 for computing services supplied to her on credit is:
Select one:
a. an increase in the asset accounts receivable and an increase in profit or loss by $1700 to record the income earned.
b. a decrease in the asset cash and an increase in the asset accounts receivable of $1700 to record the amount paid.
c. a decrease in the asset accounts receivable and an increase in profit or loss by $1700 to record the income earned.
d. an increase in the asset cash and an increase in profit or loss by $1700 to record the income earned.
Question 4
Complete
Mark 0.00 out of 1.00
Flag question
Question text
The effect on the accounting equation of the business paying $275 cash for mobile phone charges is:
Select one:
c. an increase in the asset cash of $275 and a decrease in profit or loss of $275 to record the phone expense.
Question 5
Complete
Mark 1.00 out of 1.00
Flag question
Question text
If a transaction causes an asset account to increase, which of the following effects of equal amount may also
Complete
Mark 0.00 out of 1.00
Flag question
Question text
The effect on the accounting equation of the business buying a computer worth $900, paying $450 cash and owing $450 to be paid in 30 days' time is:
Select one:
a. decrease the asset computers, increase the asset cash, decrease the liability accounts payable.
b. increase the asset computers, increase the asset cash, decrease the liability accounts payable.
c. increase the asset computers, decrease the asset cash, increase the liability accounts payable.
d. increase the asset computers, decrease the asset cash, decrease the liability accounts payable.
Question 2
Complete
Mark 1.00 out of 1.00
Flag question
Question text
If only one side of a $100 transaction is recorded, the imbalance in the worksheet will be:
Select one:
a. $100.
b. $200.
c. $50.
d. $0.
Question 3
Complete
Mark 1.00 out of 1.00
Flag question
Question text
The effect on the accounting equation of the business invoicing J. Bird for $1700 for computing services supplied to her on credit is:
Select one:
a. an increase in the asset accounts receivable and an increase in profit or loss by $1700 to record the income earned.
b. a decrease in the asset cash and an increase in the asset accounts receivable of $1700 to record the amount paid.
c. a decrease in the asset accounts receivable and an increase in profit or loss by $1700 to record the income earned.
d. an increase in the asset cash and an increase in profit or loss by $1700 to record the income earned.
Question 4
Complete
Mark 0.00 out of 1.00
Flag question
Question text
The effect on the accounting equation of the business paying $275 cash for mobile phone charges is:
Select one:
c. an increase in the asset cash of $275 and a decrease in profit or loss of $275 to record the phone expense.
Question 5
Complete
Mark 1.00 out of 1.00
Flag question
Question text
If a transaction causes an asset account to increase, which of the following effects of equal amount may also