April 4 - You register your business name with Service Ontario for $ 6 0 , using
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Question:
April You register your business name with Service Ontario for $ using the business credit
card. How will FFUp record the April transaction? point
increase Business Licence and decrease Cash x
increase both Business Licence and Accounts Payable
increase Accounts Payable and decrease Cash
no entry because a business name is intangible
increase Office Expense and decrease Cash April You pay a student $ cash to deliver of your flyers to the homes in your area. How
will FFUp record the April transaction? you can pick more then one
decrease Wages Expense by $
decrease Cash by $
increase Wages Expense by $
decrease Cash by $
increase Advertising Expense by $
increase Cash by $ X
increase Cash by $
decrease Prepaid Advertising by $
decrease Advertising Expense by $
increase Prepaid Advertising by $ April You spent $ from your personal funds in car expenses this month. Twothirds of this
was business travel and the business pays you cash from the business bank account to
reimburse you. How will FFUp record the April transaction? point
increase both Accounts Payable and Car Expense by $
decrease Cash and increase Car Expense by $
increase both Accounts Payable and Car Expense by $
decrease Cash by $ increase Accounts Payable by $ and increase Car Expense by $
decrease Cash and increase Car Expense by $ April You pay the entire balance owing on the business credit card. How will FFUp record
this April transaction? point
decrease both Cash and Accounts Payable, $
decrease both Cash and Accounts Payable, $
decrease both Cash and Accounts Payable, $
decrease both Cash and Accounts Payable, $
decrease both Cash and Accounts Payable, $
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date: