Accounting - College Level - Ch 2
Authored by Liquid Gummy
Financial Education
University
Used 2+ times
AI Actions
Add similar questions
Adjust reading levels
Convert to real-world scenario
Translate activity
More...
Content View
Student View
20 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Effect on Total asset -
Paid $400 cash on accounts payable
Decrease
No Effect
Increase
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Effect on Total asset -
Made a cash purchase of land for a building site for the business, $89,000.
Decrease
No Effect
Increase
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Effect on Total asset -
Sold land and received cash of $69,000 (the land was carried on the company's books at $69,000).
Decrease
No Effect
Increase
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Effect on Total asset -
Received $15,400 cash from customers on account.
Decrease
No Effect
Increase
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Effect on Total asset -
Purchased a flat-screen TV for Smith's home.
Decrease
No Effect
Increase
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Effect on Total asset -
Received $12,000 cash and issued stock to a stockholder.
Decrease
No Effect
Increase
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Effect on Total asset -
Purchased medical equipment and signed a $90,000 promissory note in payment.
Decrease
No Effect
Increase
Access all questions and much more by creating a free account
Create resources
Host any resource
Get auto-graded reports
Continue with Google
Continue with Email
Continue with Microsoft
or continue with
%20(1).png)
Apple
Others
Already have an account?
