Remaining Time: 2 hours, 32 minutes. 02 seconds Question Completion Status: QUESTION 3 Which of the following applications of the rules of debt and credit is true? ancrease Owners' Equity with a credit and the normal balance is a credit b. increase Accumulated Depreciation with a debit and the normal balance is a credit crease Prepaid Expenses with a credit and the normal balance is a credit d. increase Uneamed Rent Revenue with a debit and the normal balance is a credit QUESTION 4 Which of the following are guidelines for behaving ethically? Identify the consequences of a decision and its effect on other IL Consider your obligations and responsibilities to those affected by the decision III Identify your decision based on personal standards of honesty and fries a nd it blad Il TIT d. III, and QUESTIONS According to a w a y of the payroll of Scotland Company, 450.000 was subject to the 60% social security tax and $500,000 was wjects the subject to vale (5.4%) and federal (89) employ e es. The joumalawy to recordered payroll as woodclude a Medicare Federal tax with was 18.000 A 3.000 wa a. credit to SUTA Payabile of 5810 b.debit to SUTA Payable of $.900 c. credit to SUTA Payal of $18.900 d. debit to SUTA Payable of 5810 QUESTION 6 Martinez Ca borrowed 550,000 on March a debit to rest Expense for $750 of the year bygning a 60-day trest bearing Awing a 360-day yes, when the sete ispod April the entry to record the should include a Click Save and submit to save and bitChek Sow All Ar t we alle oard emaining Time 2 hours 31 minutes, 41 seconds. muestion Completion Status year bygning a 60 day s bergo A 160 year when the d e comand the pro ces QUESTION 6 Meca, borrowed 50,000 on March of the duttore Expense for $750 b.debit to Interest Payable for $750 o credit to Cash for $54.500 d.credits for $50.000 QUESTION Mobile Sales has five ployees which receive weekly paycheck Each proceny w 15 MT show w i th Nos acces s t o so Sew Wow the 2,819.00 1,771.00 6. 2,300.00 QUESTIONS of year 2000 of the w e ber 31 Machy do y ou for sex de decor the Myawadde dechod a $120.000 1516667 000 QUESTIONS of output XCO Remaining Time: 2 hours 31 minutes, 23 seconds. Question Completion Status: QUESTION 9 The depreciation method that does not use residual value in calculating the first year's depreciation expensei a straight line b. double declining balance its-of-output d. sum-of-the-digits QUESTION 10 The cows in the Indger of Sophie Designs Company we listed below. All cos hue nomal balances Fees earned 54.100 3.450 3,125 Accounts payable Accounts receivable Supplies Prepaid insurance Cu Office Duwendis Uneared 8.000 1.700 6.700 34500 7.500 1600 Red Comme stock 10.000 567325 1.571.525 $70,525 d. 163.925 QUESTION 11 adeba nd Machyred Accu Depreca debet Cash Depreciation Expense, credat Accumulated Depreciation dhe Machinery, cred Cash and Acc e d Depecon debat Cu Acmed Depec Machinery XCO Remaining Time: 2 hours, 31 minutes, N 8 E $ ES Question Completion Status: collectible receivables, the entry to rentate a previously written of account would includes QUESTION 12 When a company uses the allowance method accounting for a credit to Bad Debt Expense b. debit to Bad Debt Expense t credit to Allowance for Doubtful Accounts d. debit to Allowance for Doubtful Accounts QUESTION 13 What effect will this adjustment have on the Unearned Fees Fees Earned a incase set income b. decrease liabilities increase as reported for the per d. all of these are true collectible account QUESTION 14 Under the allowance hod of accounting for collectible receivables, writing off a a affects only balance sheet accounts be affects only come statement accounts oc affects both balance sheet and income statement accounts d. is not an acceptable practice