Description
A) balance sheet.
B) statement of retained earnings.
C) income statement.
D) list of liabilities
A) debit Purchases and credit Accounts Payable.
B) debit Accounts Payable and credit Inventory.
C) debit Inventory and credit Accounts Payable.
D) debit Accounts Payable and credit Purchases
A) Purchases as a credit.
B) Inventory as a debit.
C) Cost of Goods Sold as a debit.
D) Purchases as a debit.
A) Retained earnings.
B) Sales.
C) Cash.
D) Inventory.
A) debiting Accounts Receivable and crediting Sales.
B) debiting Accounts Receivable and crediting Inventory.
C) debiting Accounts Receivable and crediting Cost of Goods Sold.
D) debiting Cost of Goods Sold and crediting Sales
A) debit to Accounts Receivable and a credit to Sales.
B) debit to Inventory and a credit to Cost of Goods Sold.
C) debit to Cost of Goods Sold and a credit to Inventory.
D) debit to Cost of Goods Sold and a credit to Sales.
A) $ 0.
B) $ 555.00
C) $ 166.50
D) $5550.00
A) debit Accounts Payable $350; credit Cash $350.
B) debit Accounts Payable $340; credit Cash $340.
C) debit Accounts Payable $340, debit Inventory $10; credit Cash for $350.
D) debit Accounts Payable $350; credit Inventory $10.50, credit Cash for $339.50.
A) $1,000
B) $ 980
C) $ 900
D) $ 700
10.Taylor Corporation purchased merchandise from Brandon Corporation for cash. The journal entry for Taylor Corporation under a perpetual inventory system will be:
A) debit Inventory; credit Cash.
B) debit Cash; credit Inventory.
C) debit Inventory; credit Accounts Payable-Brandon Corporation.
D) debit Inventory; credit Accounts Receivable-Taylor Corporation
Reviews
There are no reviews yet.