1. Which of the following events is not recorded in a companysaccounting records? a) Issuing a note...
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Question:
1. Which of the following events is not recorded in a company’saccounting records?
a) Issuing a note in exchange for cash.
b) Performs services for a customer on account.
c) A collection of cash in advance from a customer.
d) Discussing with a customer the services a company offers.
e) The owner withdraws cash for personal use.
2. Paying a dividend
a)decreases assets and stockholders’ equity.
b)decreases liabilities and increases stockholders’ equity.
c) increases stockholders’ equity and decreases stockholders'equity by equal amounts.
d) increases assets and stockholders’ equity.
e) decreases assets and liabilities.
Related Book For
Financial Accounting Tools for Business Decision Making
ISBN: 978-1118644942
6th Canadian edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine
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