0 out of 2.5 points Use the following chart to answer how each transaction affects the accounting...
Question:
0 out of 2.5 points
Use the following chart to answer how each transaction affects the accounting equation for the transactions listed below.
Berry Company recognized $5,000 of depreciation expense. Answer with the correct letter from above: [x1] | ||||||||||||||||||||||||||||
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- Question 2
0 out of 2.5 points
Use the following chart to answer how each transaction affects the accounting equation for the transactions listed below.
The Boyd Company paid $4,000 to extend the useful life of one of its assets. Answer using the correct letter above [x1]. | ||||||||||||||||||||||||||||
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- Question 3
2.5 out of 2.5 points
Use the following chart to answer how each transaction affects the accounting equation for the transactions listed below.
Terhune Oil Company recognized $2,000,000 of depletion expense. Answer using the correct letter [x1]. | ||||||||||||||||||||||||||||
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- Question 4
0 out of 2.5 points
Use the following chart to answer how each transaction affects the accounting equation for the transactions listed below.
Brown Company amortized $3,000 of patent cost. Answer using the correct letter from the table above [x1]. | ||||||||||||||||||||||||||||
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- Question 5
0 out of 2.5 points
Use the following chart to answer how each transaction affects the accounting equation for the transactions listed below.
On January 1, 2013, Stumpf Co. issued $100,000 of bonds payable at 98. Indicate the effects of issuing the bonds. Enter the answer from the table above using the letters [x1]. | ||||||||||||||||||||||||||||
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- Question 6
0 out of 2.5 points
Use the following chart to answer how each transaction affects the accounting equation for the transactions listed below.
On December 31, 2013, Stumpf Co. paid cash for the appropriate interest on the bonds it had issued on January 1, 2013 at 98, and amortized part of the discount on bonds. Indicate the effects of the payment of interest and amortization of the discount. Enter the answer from the table above using the letters [x1]. | ||||||||||||||||||||||||||||
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- Question 7
2.5 out of 2.5 points
Use the following chart to answer how each transaction affects the accounting equation for the transactions listed below.
7. On January 1, 2013, Stacey Co. issued $100,000 of bonds at the face value. Indicate the effects of issuing these bonds. Enter the answer from the table above, input the correct letter [x1]. | ||||||||||||||||||||||||||||
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- Question 8
0 out of 2.5 points
Use the following chart to answer how each transaction affects the accounting equation for the transactions listed below.
Aehle Co. purchased 1,000 shares of its own stock as "treasury stock" for $30 per share. The "no-par" stock had originally been issued at $25 per share. Show the effects of the purchase. Input the answer using the table above, input the correct letter [x1]. | ||||||||||||||||||||||||||||
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- Question 9
Use the following chart to answer how each transaction affects the accounting equation for the transactions listed below.
Adams Co. declared and distributed a cash dividend. Input the correct answer from the table above [x1]. | ||||||||||||||||||||||||||||
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- Question 10
Use the following chart to answer how each transaction affects the accounting equation for the transactions listed below.
Smith Co. declared a cash dividend, but has not yet paid the money to the shareholders. Input the correct answer from the table above [x1]. | ||||||||||||||||||||||||||||
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South Western Federal Taxation 2015
ISBN: 9781305310810
38th edition
Authors: William H. Hoffman, William A. Raabe, David M. Maloney, James C. Young