1)
company A sold merchandise for $450 on account to the syrio snow.
the terms were 2/10, n/30. company A uses the net method to account
for sales and the cost for the merchandise was $180. The journal
entry would include a ... ( round the final answer to the nearest
dollar )
4) The total revenues of $6800, total expenses of $3900 and
dividends of $600 were recorded in the closing entries. The net
change in retained earnings for the month was?
a) 2,300$
b) 3,500$
c) 2,900$
d) 6,200$
6) The amount of an invoice is $5000 with terms 2/10, n/30.
The amount to be paid within the discount. Is?
a) 4900$ b) 5000$
c) 4500$ d) 3500$
10) a 20- month Insurance policy was purchased for $1700 on
May 1. how much insurance will be expensed on December 31 ?
a) 340 b) 680 c) 1700 d) 85
12) danio inc has $89,000 in assets and 26,000$ in
liabilities. how much does the company have in stockholders
equity?
a) 89,000$ b) 63,000$ c) 115,000$ d) 26,000$
14) Company a purchased 50 keyboards on account for five
dollars each from amadeus inc, when they unpacked the keyboards
company a found that 30 of the keyboards were damaged in shipping.
What is the journal entry that company a will make to record the
purchase return ?
a) debit account payable - amadeus and credit inventory
250$
b) debuts acciunt payable- amadeus and credit inventory
150$
c) debit purchase returns and credit inventory 160$
d) debit purchase returns and credit inventory, 150$