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Author Question: April 14 Equipment 15,000 Cash 5,000 Note Payable 10,000 ????????????. Which is the best explanation ... (Read 230 times)

roselinechinyere27m

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on: Jul 5, 2018
April 14 Equipment 15,000 Cash 5,000 Note Payable 10,000 ????????????. Which is the best explanation for this journal entry?
 a. Purchased equipment; paid cash of 5,000, with the remainder to be paid in the future.
  b. Purchased equipment; paid cash of 10,000, with the remainder to be received in the future.
  c. Purchased equipment with cash.
  d. Purchased equipment on account.

Question 2

The independent auditor's report is normally included within
 
  a. the introductory section of a CAFR.
  b. management's discussion and analysis.
  c. the financial section of a CAFR.
  d. the statistical section of a CAFR.
  e. any of the above sections at management's discretion.


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janeli

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Reply #1 on: Jul 5, 2018
Answer to Question 1

a

Answer to Question 2

C


roselinechinyere27m

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Reply #2 on: Jul 5, 2018
Thank you :)


janeli

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Reply #3 on: Jul 5, 2018
Happy to help you


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