« previous next »

Author Question: Which group of accounts is comprised of only assets? a. Cash, Accounts Payable, Buildings b. ... (Read 108 times)

bobbysung

  • Hero Member
  • *****
  • Posts: 519
on: Jul 5, 2018
Which group of accounts is comprised of only assets?
 a. Cash, Accounts Payable, Buildings
  b. Accounts Receivable, Revenue, Cash
  c. Prepaid Expenses, Buildings, Patents
  d. Unearned Revenues, Prepaid Expenses, Cash

Question 2

The Town of Red Herring issued 60,000 of purchase orders and recorded the encumbrance. Assume that when all orders were received, the actual cost was 59,000 . What would be the net change in the unencumbered balance when the goods are received?
 
  A. 60,000 increase.
  B. 1,000 increase.
  C. 1,000 decrease.
  D. 59,000 decrease.


yasmina

  • Sr. Member
  • ****
  • Posts: 323
Reply #1 on: Jul 5, 2018
Answer to Question 1

c

Answer to Question 2

B


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

In 2012, nearly 24 milliion Americans, aged 12 and older, had abused an illicit drug, according to the National Institute on Drug Abuse (NIDA).

Did you know?

Congestive heart failure is a serious disorder that carries a reduced life expectancy. Heart failure is usually a chronic illness, and it may worsen with infection or other physical stressors.

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates's recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

Did you know?

For about 100 years, scientists thought that peptic ulcers were caused by stress, spicy food, and alcohol. Later, researchers added stomach acid to the list of causes and began treating ulcers with antacids. Now it is known that peptic ulcers are predominantly caused by Helicobacter pylori, a spiral-shaped bacterium that normally exist in the stomach.

Did you know?

The shortest mature adult human of whom there is independent evidence was Gul Mohammed in India. In 1990, he was measured in New Delhi and stood 22.5 inches tall.

The Local Group The Local Group
Members of the Lemba ethnic group from southern Africa. Members of the Lemba ethnic group from southern Africa.
Earthquakes Don’t Kill People—Collapsing Buildings Do Earthquakes Don’t Kill People—Collapsing Buildings Do
Curative Factors of Group Therapy Curative Factors of Group Therapy
Reduction of the carbonyl group on a sugar Reduction of the carbonyl group on a sugar
Group of Gorillas Group of Gorillas
Video: Retina

For a complete list of videos, visit our video library