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    This document appears to be a collection of accounting questions and answers. However, most of the text is illegible or missing, making it difficult to determine the essential information. Key terms that can be made out include accounts receivable, cash, notes payable, computer equipment, depreciation, owner's equity, and income statement accounts. However, the document does not provide enough clear information to summarize its overall purpose or content in 3 sentences or less.

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    Img 0008

    Uploaded by

    Bernadette Benignos
    11 views1 page
    This document appears to be a collection of accounting questions and answers. However, most of the text is illegible or missing, making it difficult to determine the essential information. Key terms that can be made out include accounts receivable, cash, notes payable, computer equipment, depreciation, owner's equity, and income statement accounts. However, the document does not provide enough clear information to summarize its overall purpose or content in 3 sentences or less.

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    This document appears to be a collection of accounting questions and answers. However, most of the text is illegible or missing, making it difficult to determine the essential information. Key terms that can be made out include accounts receivable, cash, notes payable, computer equipment, depreciation, owner's equity, and income statement accounts. However, the document does not provide enough clear information to summarize its overall purpose or content in 3 sentences or less.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    11 views1 page

    Img 0008

    Uploaded by

    Bernadette Benignos
    This document appears to be a collection of accounting questions and answers. However, most of the text is illegible or missing, making it difficult to determine the essential information. Key terms that can be made out include accounts receivable, cash, notes payable, computer equipment, depreciation, owner's equity, and income statement accounts. However, the document does not provide enough clear information to summarize its overall purpose or content in 3 sentences or less.

    Copyright:

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    of 1

    .8.

    A credit

    Gcfdctrses

    tlre balance

    of
    C,

    U
    9.

    8..

    iocffie I
    decrease

    owncr's cquqY X

    / assels /

    D. liabilities
    ,{

    Decrease in assct may A. docrease another asset

    rJ)
    '

    B.

    liabilities

    / / / /

    C. inciease capital D" increase liabilities

    10. Withdrawals try the proprietor has all of the

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    following effects except recluction.oftotal.assetd. A: B. redlrctioiicf owrier'sequity C. reduetionof cashbalanc.e , D. rer}tctiorr <lt'net income tbr the peliod

    ll.Which <if the following transactiors correctly rnaintain the equality in the accounting . equation?
    To recard eollections on account, cash anrl accounts receivable are ipcreased by PI20,000. . j.). B. To lLt record rv{;altrtl pa,"*we.ni of notes, notes payabie is decreased and cash is increased PUv.rfl,t byP60,r)00, by P60,000 C. To yss6,rd c. rect'rd the the purcltase: of contpute.t' equipment, computer equipmer-rt increased mcreased ai:d aird cash ca rs is decreased by P70,000. Ta recrtrtf. pa),n ent of re.niy rent expense and cash are increased by P10,000,'

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    D.
    t3.

    a P3,500 arljustrnerrt for depreciation is omitted, which of the tbllowing financial

    A. rxpenses willbe overstated Y B. owner's Equiry will be understated n C. Det iucome will be unclerstated I

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    hI

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    .tliueg- cfiics trtrnalty inwhrc A .tal accrlmts only


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    C. Real aC nominal accormts D. neither r-eal nor nominal account

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    -+.. 1 crush receipts journal ,i B. garshpaymentsjournal r


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    pnulri rrolmaily be r.ecordecl in the

    C. geheraljou.mal D. iales journal

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    Accumulued Depreciation account is an dxample of a (a,) adjwict C. asset account

    account l. B. contra account


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    f).
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    16. Cash paid to suppliers nf

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    A. ope.rating B. investrng C. furancing D. noteof the above A. operating B. invCIting C. financing D. none ofthe

    good.s is a cash

    17. cash received for sen'ices iendered is a cash flow

    for.

    above

    Pa-ge

    2 of 9

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