Bus2125 Summer 2018 Bus2125 Summer 2018 Madalyn Priem m Exam

Bus2125 Summer 2018: Bus2125 Summer 2018 Madalyn Priem m Exam (Ch. 1 Ch. 7) 3.00 points in the note 4,000, cr. NIP 4,000

Solution

Q1. Answer ir Dr. Notes payyable $4000 and Credit Equipment $4000. Q2. Answer is Transactionns rae recorded by an entry in which only teo accounts are used. Explanation: The transaction can also be recorded like one or more debit with sinngle credit and one or more credit with single debit. Q3. Answer is None of above. Dividend paid is not recorded in Income Statement as it is recorded in Statement of retained earnings. Q4. Answer is August 31, 2001