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 84 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
YES! Correct, THANKS for helping me on my review

skipfourms123

  • Member
  • Posts: 343
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Your heart beats over 36 million times a year.

Did you know?

Thyroid conditions may make getting pregnant impossible.

Did you know?

Pubic lice (crabs) are usually spread through sexual contact. You cannot catch them by using a public toilet.

Did you know?

According to the National Institute of Environmental Health Sciences, lung disease is the third leading killer in the United States, responsible for one in seven deaths. It is the leading cause of death among infants under the age of one year.

Did you know?

In Eastern Europe and Russia, interferon is administered intranasally in varied doses for the common cold and influenza. It is claimed that this treatment can lower the risk of infection by as much as 60–70%.

Eclipse Paths for Total and Annular Eclipses 2001–2020 Eclipse Paths for Total and Annular Eclipses 2001–2020
Percentage of Foreign-Born Whites and Native Whites of Foreign or Mixed Parentage in Total Populatio Percentage of Foreign-Born Whites and Native Whites of Foreign or Mixed Parentage in Total Populatio
Walter Thompson saw his assets evaporate during the stock market collapse in 1929. Desperate for ... Walter Thompson saw his assets evaporate during the stock market collapse in 1929. Desperate for ...
Monopoly, patented in 1935, was an instant best-seller: Players risk all their assets in an attempt Monopoly, patented in 1935, was an instant best-seller: Players risk all their assets in an attempt
Which is TRUE about the alternation of generations cycle that is diagramed above? Which is TRUE about the alternation of generations cycle that is diagramed above?
Canada Total Energy Consumption by Fuel Type Canada Total Energy Consumption by Fuel Type
Video: Stomach peristalsis - Movement of Food Through the Small Intestine

For a complete list of videos, visit our video library