« previous next »

Author Question: A deferral transaction is one in which ________. A) the action comes before the cash B) cash ... (Read 29 times)

CQXA

  • Hero Member
  • *****
  • Posts: 546
on: Jul 5, 2018
A deferral transaction is one in which ________.
 
  A) the action comes before the cash
  B) cash comes before the action
  C) a company postpones recognizing cash transactions
  D) the exchange of cash coincides with the economic substance of a transaction

Question 2

The proper journal entry to record the receipt of inventory purchased on account in a periodic inventory system would be
 a. Jan. 1 Merchandise Inventory 1,600
  Accounts Payable 1,600
  b. Jan. 1 Office Supplies 1,600
  Accounts Payable 1,600
  c. Jan. 1 Purchases 1,600
  Accounts Payable 1,600
  d. Jan. 1 Purchases 1,600
  Accounts Receivable 1,600


dellikani2015

  • Sr. Member
  • ****
  • Posts: 332
Reply #1 on: Jul 5, 2018
Answer to Question 1

B

Answer to Question 2

c


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

When intravenous medications are involved in adverse drug events, their harmful effects may occur more rapidly, and be more severe than errors with oral medications. This is due to the direct administration into the bloodstream.

Did you know?

Acute bronchitis is an inflammation of the breathing tubes (bronchi), which causes increased mucus production and other changes. It is usually caused by bacteria or viruses, can be serious in people who have pulmonary or cardiac diseases, and can lead to pneumonia.

Did you know?

The training of an anesthesiologist typically requires four years of college, 4 years of medical school, 1 year of internship, and 3 years of residency.

Did you know?

The Food and Drug Administration has approved Risperdal, an adult antipsychotic drug, for the symptomatic treatment of irritability in children and adolescents with autism. The approval is the first for the use of a drug to treat behaviors associated with autism in children. These behaviors are included under the general heading of irritability and include aggression, deliberate self-injury, and temper tantrums.

Did you know?

Every flu season is different, and even healthy people can get extremely sick from the flu, as well as spread it to others. The flu season can begin as early as October and last as late as May. Every person over six months of age should get an annual flu vaccine. The vaccine cannot cause you to get influenza, but in some seasons, may not be completely able to prevent you from acquiring influenza due to changes in causative viruses. The viruses in the flu shot are killed—there is no way they can give you the flu. Minor side effects include soreness, redness, or swelling where the shot was given. It is possible to develop a slight fever, and body aches, but these are simply signs that the body is responding to the vaccine and making itself ready to fight off the influenza virus should you come in contact with it.

Mechanism of Action of Lipid-Lowering Drugs Mechanism of Action of Lipid-Lowering Drugs
When Union troops pushed toward Richmond in June of 1862, these slaves crossed the Rappahannock Rive When Union troops pushed toward Richmond in June of 1862, these slaves crossed the Rappahannock Rive
Frequency coding: how action potentials convey intensity of stimuli. Frequency coding: how action potentials convey intensity of stimuli.
Mechanisms of Action of Antiseizure Drugs Mechanisms of Action of Antiseizure Drugs
The two mechanisms for terminating neurotransmitter action in the synapse: reuptake and enzymatic ... The two mechanisms for terminating neurotransmitter action in the synapse: reuptake and enzymatic ...
The voltage-gated channel cycles during an action potential The voltage-gated channel cycles during an action potential
Video: Lactation and Breast Feeding

For a complete list of videos, visit our video library