Monaco Lawn Service Company used $250 of fuel to mow customer lawns in June. The fuel was purchased on account and due in July. Fuel Expense should be recorded in:
A) July.
B) June.
C) August.
D) April.
B
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Agnes purchased a computer for $2,240. It has an estimated useful life of four years and an estimated residual value of $240. The entry to record the depreciation charge for the first year using the double-declining-balance method is:
A) Depreciation Expense-Computer 1,120 Accumulated Depreciation-Computer 1,120 B) Depreciation Expense-Computer 2,000 Accumulated Depreciation-Computer 2,000 C) Depreciation Expense-Computer 1,000 Accumulated Depreciation-Computer 1,000 D) Computer 2,000 Cash 2,000
In choosing a form of business organization for a new enterprise, impor¬tant factors include the ability to raise capital
Indicate whether the statement is true or false
Corporate etiquette is the obligation of a business to contribute to society.
Answer the following statement true (T) or false (F)
A tenant can withhold rent for any reason
Indicate whether the statement is true or false