Which of the following entries records the receipt of a utility bill from the water company?
A) debit Utilities Expense; credit Accounts Payable
B) debit Utilities Payable; credit Accounts Receivable
C) debit Accounts Payable; credit Cash
D) debit Accounts Payable; credit Utilities Payable
A
You might also like to view...
The units-of-output depreciation method provides a good match of expenses against revenue
a. True b. False Indicate whether the statement is true or false
To prove the equality of the debit and credit balances in the general ledger accounts after the closing entries have been journalized and posted, which of the following is prepared?
a. trial balance; b. balance sheet; c. closing statement; d. post-closing trial balance; e. work sheet.
When a company purchases debt securities, it records them at
A) cost, ignoring any commissions and fees. B) cost plus commissions and fees. C) cost less commissions and fees. D) the value expected at maturity.
This manufacturing method is used for products that typically require little or no customization, are produced in large volumes, and are stored as inventory for future use.
A. make-to-stock B. make-to-order C. assemble-to-order (ATO) D. engineer-to-order (ETO)