This topic contains a solution. Click here to go to the answer

Author Question: When an account receivable is collected in cash, the total assets of the business increase. a. True ... (Read 68 times)

CQXA

  • Hero Member
  • *****
  • Posts: 546
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
Answer to Question 1

False

Answer to Question 2

B




CQXA

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


hramirez205

  • Member
  • Posts: 345
Reply 3 on: Yesterday
Excellent

 

Did you know?

Drug-induced pharmacodynamic effects manifested in older adults include drug-induced renal toxicity, which can be a major factor when these adults are experiencing other kidney problems.

Did you know?

Before a vaccine is licensed in the USA, the Food and Drug Administration (FDA) reviews it for safety and effectiveness. The CDC then reviews all studies again, as well as the American Academy of Pediatrics and the American Academy of Family Physicians. Every lot of vaccine is tested before administration to the public, and the FDA regularly inspects vaccine manufacturers' facilities.

Did you know?

Chronic marijuana use can damage the white blood cells and reduce the immune system's ability to respond to disease by as much as 40%. Without a strong immune system, the body is vulnerable to all kinds of degenerative and infectious diseases.

Did you know?

Drug abusers experience the following scenario: The pleasure given by their drug (or drugs) of choice is so strong that it is difficult to eradicate even after years of staying away from the substances involved. Certain triggers may cause a drug abuser to relapse. Research shows that long-term drug abuse results in significant changes in brain function that persist long after an individual stops using drugs. It is most important to realize that the same is true of not just illegal substances but alcohol and tobacco as well.

Did you know?

Tobacco depletes the body of vitamins A, C, and E, which can result in any of the following: dry hair, dry skin, dry eyes, poor growth, night blindness, abscesses, insomnia, fatigue, reproductive system problems, sinusitis, pneumonia, frequent respiratory problems, skin disorders, weight loss, rickets, osteomalacia, nervousness, muscle spasms, leg cramps, extremity numbness, bone malformations, decayed teeth, difficulty in walking, irritability, restlessness, profuse sweating, increased uric acid (gout), joint damage, damaged red blood cells, destruction of nerves, infertility, miscarriage, and many types of cancer.

For a complete list of videos, visit our video library