Childers Service Company provides services to customers totaling $3,000, for which it billed the customers. How would the transaction be recorded?
A. Debit Service Revenue $3,000, credit Accounts Receivable $3,000.
B. Debit Accounts Receivable $3,000, credit Cash $3,000.
C. Debit Accounts Receivable $3,000, credit Service Revenue $3,000.
D. Debit Cash $3,000, credit Service Revenue $3,000.
Answer: C
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Clear Window Cleaners Clear Window Cleaners purchased new cleaning equipment at the beginning of 2011. The equipment has a cost of $53,000, an estimated life of 5 years, and an estimated residual value of $3,000. A full year's depreciation expense is to be recorded in 2011. The equipment was used 20,000 hours during 2011 and 24,000 hours during 2012. The number of expected hours over five years
is 125,000. Refer to the information provided for Clear Window Cleaners. By what amount would double-declining-balance depreciation exceed straight-line depreciation over the 5-year life of the equipment? A) The salvage value of $3,000. B) Cost less total depreciation. C) Cost plus total depreciation. D) Total depreciation expenses under double-declining-balance and straight-line depreciation are equal.
Which of the following is an example of a hard skill?
A) Working well as part of a team B) Knowing how to prepare financial statements C) Listening actively D) ?Exhibiting proper business etiquette
The ________ strategy uses exports and licenses to penetrate globally
Fill in the blanks with correct word
A trial balance prepared before any adjustments have been recorded is:
A. Used to prepare financial statements. B. An unadjusted trial balance. C. Only prepared once a year. D. An adjusted trial balance. E. Correct with respect to proper balance sheet and income statement amounts.