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Fernetti Company bought office supplies on account

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Fernetti Company bought office supplies on account 1. On May 25, Carlin Company received a $550 check from Andy Jeter for services to be performed in the future. The bookkeeper for Carlin Company incorrectly debited Cash for $550 and credited Accounts Receivable for $550. The amounts have been posted to the ledger. To correct this entry, the bookkeeper should: a. debit Cash $550 and credit Unearned Service Revenue $550. b. debit Accounts Receivable $550 and credit Service Revenue $550. c. debit Accounts Receivable $550 and credit Cash $550. d. debit Accounts Receivable $550 and credit Unearned Service Revenue $550. 2. On March 8, Fernetti Company bought office supplies on account from the Flint Company for $880. Fernetti Company incorrectly debited Office Equipment for $800 and credited Accounts Payable for $800. The entries have been posted to the ledger. the correcting entry should be: a. Office Supplies 880 Accounts Payable 880 b. Office Supplies 880 Accounts Payable 800 Office Equipment 80 c. Office Supplies 880 Office Equipment 880 d. Office Supplies 880 Office Equipment 800 Accounts Payable 80 3. The following information (in thousands) is for Zháng Office Supplies: Zháng Office Supplies Statement of Financial Position December 31, 2011 Trademark ¥70,000 Share Capital ¥120,000 Land ¥90,000 Retained Earnings 250,000 Building ¥100,000 ¥370,000 Less Accum. Depreciation (20,000) 80,000 170,000 Land held for investment 75,000 Accounts Payable 60,000 Prepaid Insurance 30,000 Salaries Payable 10,000 Inventory 70,000 Mortage Payable 90,000 Accounts Receivable 50,000 Cash 65,000 160,000 Total Assets ¥530,000 Total Equity and Liabilities ¥ 530,000 The total dollar amount of assets to be classified as current assets is a. ¥290,000. b. ¥215,000. c. ¥180,000. d. ¥145,000. 4. The following information (in thousands) is for Zháng Office Supplies: Zháng Office Supplies Statements of Financial Position December 31, 2011 Trademark ¥70,000 Share Capital-ordinary ¥120,000 Land ¥90,000 Retained Earnings 250,000 Building ¥100,000 ¥370,000 Less Accum. Depreciation (20,000) 80,000 170,000 Land held for investment 75,000 Accounts Payable 60,000 Prepaid Insurance 30,000 Salaries Payable 10,000 Inventory 70,000 Mortage Payable 90,000 Accounts Receivable 50,000 Cash 65,000 160,000 Total Assets ¥530,000 Total Equity and Liabilities ¥ 530,000 The total dollar amount of assets to be classified as property, plant, and equipment is a. ¥320,000. b. ¥170,000. c. ¥245,000. d. ¥190,000. 5. The following information (in thousands) is for Zháng Office Supplies: Zháng Office Supplies Statement of Financial Position December 31, 2011 Trademark ¥70,000 Share Capital ¥120,000 Land ¥90,000 Retained Earnings 250,000 Building ¥100,000 ¥370,000 Less Accum. Depreciation (20,000) 80,000 170,000 Land held for investment 75,000 Accounts Payable 60,000 Prepaid Insurance 30,000 Salaries Payable 10,000 Inventory 70,000 Mortage Payable 90,000 Accounts Receivable 50,000 Cash 65,000 160,000 Total Assets ¥530,000 Total Equity and Liabilities ¥ 530,000 The total dollar amount of assets to be classified as investments is a. ¥0. b. ¥150,000. c. ¥75,000. d. ¥180,000. Business Management Assignment Help, Business Management Homework help, Business Management Study Help, Business Management Course Help

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