Accounting 1 / mid term

When revenue is earned ana expenses when incrred this shows to

If the service revenue is $65.000 and salaries expenses $20.000 and advertising exp 12.000 the income statement is

Analyzing and interpreting information refer to

1/1 Ahmad company purchased Equipment for $ 3.000 cash . 5/1 paid salaries expenses for $500 and in 31/1 recived $10.000 for future service . The balance of cash was :

If cost $10.000 and useful life is 3 years and the salvage value $1000 the Depreciation expenses is

Assume on march 1 , 2020 jalal company pays $4.500 cash to ahmad insurance for one year effective on march 1 . The adj entry in July 31 is

Net income will result during a time period when :

In 5/6 Mahmood company purchased Equipment for $ 30.000 on account the effects is

On Oct.1 the company issued ordinary shares for $20.000 the entry is

On sep.23 , ahmad recived $5.000 for services provided the entry is

Each of the following is a major type of adjusting entry except

At april ABC company had supply on hand of $800 During the month , ABC purchase supply of $4.000 and supply used of $900 the adj. Entry on April is

Which of the following is not a step in the accounting process

If the service rev $50.000 and total expenses is 25.000 and dividends 2.500 and Ending Retained earnings is $35.000 . The begging retained earnings is

If the equity is $ 30.000 and assets is $ 130.000. If equity increase for 4.000 what the liabilities

During 2015 sara company assets decrease $40.000 and its liabilities decrease $90.000 . Equity therefore

Which of the following is false

Purchase equipment for $5.000 on account

Rami signed a three - month note payable in the amount of $12.000 on march 1 . The note requires interest at an annual rate of 12% . The amount of interest in April 31 is

If the Assets $90.000 and the liabilities two - third of assets what the total equity

Hired park manager at a salary of $4.000 per month, effective june 1 the entry is

ABC company purchase 200 coupon books for $5 each . The cost for this purchase is

Which of the following example in internal users

Received $7500 for service provided rhe effect in aaccounting equation is

Before posting a payment of $7.000 , the account payable of arab company had a normal balance of $16.000 . The balance after posting this transaction was

Monthly and quarterly time is called

Prior to adjustment for prepaid expenses the net income is

Prior to adjustment for accrued expenses the liabilities is

Is an information systems that identify, record, communications this is

If the cost is 20.000 of equipment and And no salvage value and the useful life 4 years . The amount of Book value is