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Accounting ch3 PDF
Accounting ch3 PDF
القسم العملي
1. Prepaid
Customer pays for services in advance 2
Expenses
2. Unearned
3-month insurance policy is purchased. 1
Revenue
4. Advertising
Sale made on account and customer is billed. 5
Expenses
Answer is C
McGraw-Hill/Irwin Slide 4
Question 4
Expenses are:
Answer is B
McGraw-Hill/Irwin Slide 5
Question 5
Answer is B
McGraw-Hill/Irwin Slide 6
Question 6
Answer is D
McGraw-Hill/Irwin Slide 7
Question 7
Under accrual basis accounting, revenue is
recorded when:
Answer is A
McGraw-Hill/Irwin Slide 8
Question 8
For each account listed below indicate whether the
account is increased/decreased with a debit or a
credit. The first account has been completed as an
example
McGraw-Hill/Irwin Slide 9
Question 9
American Fitness Club had the following transactions
for the month of May. For each transaction determine
the Journal entry.
McGraw-Hill/Irwin Slide 10
Question 9
McGraw-Hill/Irwin Slide 11
Journal entry
McGraw-Hill/Irwin Slide 13
Question 10
McGraw-Hill/Irwin Slide 14
Question 11
McGraw-Hill/Irwin Slide 15
Question 11
The following activities occurred during May 2010:
Slide 25