Receiving assets from customers before services are performed results in:
a. Prepaid Assets.
b. Service Revenue.
c. Unearned Revenues.
d. Accounts Receivable.
56. When the company pays stockholders a dividend, what is the effect on the accounting equation for that company?
a. Decrease stockholders’ equity and increase assets.
b. Increase liabilities and increase assets.
c. Decrease assets and decrease liabilities.
d. Decrease assets and decrease stockholders’ equity.
57. Pumpkin Inc. sold $500 in pumpkins to a customer on account on January 1. On January 11
Pumpkin collected the cash from that customer. What is the impact on Pumpkin’s accounting equation from the collection of cash?
a. No net effect to the accounting equation.
b. Decrease assets and increase liabilities.
c. Increase assets and increase liabilities.
d. Decrease assets and decrease liabilities.
58. A company receives a $50,000 cash deposit from a customer on October 15 but will not provide services until November 20. Which of the following statements is true?
a. The company records service revenue on October 15.
b. The company records cash collection November 20.
c. The company records unearned revenue on October 15.
d. The company records nothing on October 15.
59. Which of the following would increase assets and increase liabilities?
a. Provide services to customers on account.
b. Purchase office supplies on account.
c. Pay dividends to stockholders.
d. Receive a utility bill but do not pay it immediately.
60. Receiving cash from an account receivable:
a. Increases revenue and decreases an asset.
b. Decreases a liability and increases an asset.
c. Increases an asset and increases revenue.
d. Increases one asset and decreases another asset.
61. An expense has what effect on the accounting equation?
a. Decrease liabilities.
b. Decrease stockholders’ equity.
c. Increase assets.
d. No effect.
62. Revenues have what effect on the accounting equation?
a. Increase liabilities.
b. Decrease assets.
c. Increase stockholders’ equity.
d. No effect.
63. Investments by stockholders have what effect on the accounting equation?
a. Assets increase and liabilities increase.
b. Expenses increase and liabilities increase.
c. Assets increase and revenues increase.
d. Assets increase and stockholders' equity increases.
64. Which of the following is not possible when recording a transaction?
a. Liabilities increase and assets decrease.
b. Stockholders’ equity increases and assets increase.
c. One asset increases and another asset decreases.
d. Stockholders’ equity decreases and assets decrease.
Write an essay about chapter 12 of The Scarlet Letter by Nathanial Hawthorne.Mar 14 2020
Consider a population of 1024 mutual funds that primarily invest in large companies. You have determined that µ?, the mean? one-year total percentage return achieved by a...Apr 02 2020
using c++ write a program to calculate the area andMay 27 2020
Compare and contrast the three organizational structures discussed in the text: functional, project, and matrix. Provide examples that show the difference between the thr...Apr 16 2020
HW Forecast II Save Score: 0.4 of 1 pt 2 of 14 (14 complete) HW Score: 82.78%, 12.42 of 15 pts %x Problem 4.5 : Question Help The Carbondale Hospital is considering the p...Aug 27 2020
On July 1, 20X2, Alan Enterprises merged with Cherry Corporationthrough an exchange of stock and the subsequent liquidation ofCherry. Alan issued 206,000 shares of its st...Mar 21 2020
Read the Article The Ultimate Guide to Buying a Mutual Fund and summarize the key points - http://money.usnews.com/money/personal-finance/mutual-funds/articles/2014/09/29...Aug 18 2020
According to the table below,Output per monthPriceTotal RevenueTotal CostTotal ProfitMarginal Revenue*Marginal Cost*Average Total CostProfit per Unit (Price Minus Averag...Apr 30 2020
Expected return and CAPM Suppose the risk-free rate is 4% and the market portfolio and stock j have the following return distributions: Probability in tot Market return -...Feb 08 2020
The GDP of a state A in 2016 was 20 billion euros. Forecast for 2017 foresee 0% real growth and value of 4% of GDP deflator (3 p.). a) What was the nominal growth rate of...Apr 02 2020