This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: When an account receivable is collected in cash, the total assets of the business increase. a. True ... (Read 43 times)

CQXA

  • Hero Member
  • *****
  • Posts: 546
on: Jul 5, 2018
When an account receivable is collected in cash, the total assets of the business increase.
 a. True
  b. False
 
   Indicate whether the statement is true or false

Question 2

Assume that the Village of Hannah uses the purchases method of inventory accounting. At the end of the year the inventory levels have increased. What entry would be made to reflect the inventory increase?
 
  A. Debit Expenditures, Credit Inventory of Supplies.
  B. Debit Inventory of Supplies, Credit Other Financing Sources.
  C. Debit Expenditures, Credit Other Financing Sources.
  D. Debit Inventory of Supplies, Credit Expenditures.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

trampas

  • Sr. Member
  • ****
  • Posts: 320
Reply #1 on: Jul 5, 2018
Answer to Question 1

False

Answer to Question 2

B


CQXA

  • Member
  • Posts: 546
Reply 2 on: Jul 5, 2018
Gracias!

samiel-sayed

  • Member
  • Posts: 337
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

The human body produces and destroys 15 million blood cells every second.

Did you know?

There are more bacteria in your mouth than there are people in the world.

Did you know?

Despite claims by manufacturers, the supplement known as Ginkgo biloba was shown in a study of more than 3,000 participants to be ineffective in reducing development of dementia and Alzheimer’s disease in older people.

Did you know?

IgA antibodies protect body surfaces exposed to outside foreign substances. IgG antibodies are found in all body fluids. IgM antibodies are the first type of antibody made in response to an infection. IgE antibody levels are often high in people with allergies. IgD antibodies are found in tissues lining the abdomen and chest.

Did you know?

If you use artificial sweeteners, such as cyclamates, your eyes may be more sensitive to light. Other factors that will make your eyes more sensitive to light include use of antibiotics, oral contraceptives, hypertension medications, diuretics, and antidiabetic medications.

true story true story
Adapoids and omomyoids had longer snouts and are the first “true” primates. Adapoids and omomyoids had longer snouts and are the first “true” primates.
Results from sequential study of two cohorts tested at three ages and at three different points in t Results from sequential study of two cohorts tested at three ages and at three different points in t
Generally, the total tax burden in the United States is much lower than that of other industrialize Generally, the total tax burden in the United States is much lower than that of other industrialize
4.1 Age changes in total IQ based on cross-sectional data (lower line) and longitudinal data ... 4.1 Age changes in total IQ based on cross-sectional data (lower line) and longitudinal data ...
Entrepreneurship: Starting and Operating a Small Business (3rd Edition) Entrepreneurship: Starting and Operating a Small Business (3rd Edition)
Video: Contraction cycle of a sarcomere

For a complete list of videos, visit our video library