Accounting For Sole Proprietorship an der Our Lady Of Fatima University | Karteikarten & Zusammenfassungen

Lernmaterialien für Accounting for Sole Proprietorship an der Our Lady of Fatima University

Greife auf kostenlose Karteikarten, Zusammenfassungen, Übungsaufgaben und Altklausuren für deinen Accounting for Sole Proprietorship Kurs an der Our Lady of Fatima University zu.

TESTE DEIN WISSEN

owner withdrew cash for personal use, P20,000

Lösung anzeigen
TESTE DEIN WISSEN

decrease an asset; decrease owner's equity

Lösung ausblenden
TESTE DEIN WISSEN

an entity's payroll of P5,000 is paid on Fridays. assume that the last day of the month falls on Wednesday. which of the following is the required adjusting entry?

Lösung anzeigen
TESTE DEIN WISSEN

debit salaries expense P3,000 and credit salaries payable P3,000

Lösung ausblenden
TESTE DEIN WISSEN

an expense incurred; not yet paid or recorded

Lösung anzeigen
TESTE DEIN WISSEN

accrued expense

Lösung ausblenden
TESTE DEIN WISSEN

property taxes incurred; not yet paid

Lösung anzeigen
TESTE DEIN WISSEN

accrued expense

Lösung ausblenden
TESTE DEIN WISSEN

purchase supplies on account, P1,000

Lösung anzeigen
TESTE DEIN WISSEN

increase an asset; increase in liability

Lösung ausblenden
TESTE DEIN WISSEN

adjusting entry affects cash flows in the current period.

Lösung anzeigen
TESTE DEIN WISSEN

false

Lösung ausblenden
TESTE DEIN WISSEN

same as quantitative information

Lösung anzeigen
TESTE DEIN WISSEN

financial information

Lösung ausblenden
TESTE DEIN WISSEN

assets are things of value owned by a business entity

Lösung anzeigen
TESTE DEIN WISSEN

true

Lösung ausblenden
TESTE DEIN WISSEN

the accountant classifies the effects of the event in the "account."

Lösung anzeigen
TESTE DEIN WISSEN

posting

Lösung ausblenden
TESTE DEIN WISSEN

The accountant analyzes each business transaction and identifies whether the transaction is an "accountable event" or "non-accountable event"


Lösung anzeigen
TESTE DEIN WISSEN

identifying

Lösung ausblenden
TESTE DEIN WISSEN

at the beginning of 2020, an entity purchased a fire insurance policy covering property for a period of two years. the 5,600 cost of policy was paid in cash. at the end of 2020, the company will reduce prepaid insurance for this policy by

Lösung anzeigen
TESTE DEIN WISSEN

2,800

Lösung ausblenden
TESTE DEIN WISSEN

the Philippine accountant considers peso as the common unit of measure for all business transaction

Lösung anzeigen
TESTE DEIN WISSEN

true

Lösung ausblenden
  • 12423 Karteikarten
  • 1069 Studierende
  • 1 Lernmaterialien

Beispielhafte Karteikarten für deinen Accounting for Sole Proprietorship Kurs an der Our Lady of Fatima University - von Kommilitonen auf StudySmarter erstellt!

Q:

owner withdrew cash for personal use, P20,000

A:

decrease an asset; decrease owner's equity

Q:

an entity's payroll of P5,000 is paid on Fridays. assume that the last day of the month falls on Wednesday. which of the following is the required adjusting entry?

A:

debit salaries expense P3,000 and credit salaries payable P3,000

Q:

an expense incurred; not yet paid or recorded

A:

accrued expense

Q:

property taxes incurred; not yet paid

A:

accrued expense

Q:

purchase supplies on account, P1,000

A:

increase an asset; increase in liability

Mehr Karteikarten anzeigen
Q:

adjusting entry affects cash flows in the current period.

A:

false

Q:

same as quantitative information

A:

financial information

Q:

assets are things of value owned by a business entity

A:

true

Q:

the accountant classifies the effects of the event in the "account."

A:

posting

Q:

The accountant analyzes each business transaction and identifies whether the transaction is an "accountable event" or "non-accountable event"


A:

identifying

Q:

at the beginning of 2020, an entity purchased a fire insurance policy covering property for a period of two years. the 5,600 cost of policy was paid in cash. at the end of 2020, the company will reduce prepaid insurance for this policy by

A:

2,800

Q:

the Philippine accountant considers peso as the common unit of measure for all business transaction

A:

true

Accounting for Sole Proprietorship

Erstelle und finde Lernmaterialien auf StudySmarter.

Greife kostenlos auf tausende geteilte Karteikarten, Zusammenfassungen, Altklausuren und mehr zu.

Jetzt loslegen

Das sind die beliebtesten Accounting for Sole Proprietorship Kurse im gesamten StudySmarter Universum

Accounting

ZHAW - Zürcher Hochschule für Angewandte Wissenschaften

Zum Kurs

Die all-in-one Lernapp für Studierende

Greife auf Millionen geteilter Lernmaterialien der StudySmarter Community zu
Kostenlos anmelden Accounting for Sole Proprietorship
Erstelle Karteikarten und Zusammenfassungen mit den StudySmarter Tools
Kostenlos loslegen Accounting for Sole Proprietorship