Which of the following is not an asset? A) Cash B) Accounts Payable C) Accounts Receivable D) Equipment | Homework.Study.com (2024)

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• Which of the following is not an asset account? a. Supplies. b. Accounts Payable. c. Equipment. d. Accounts Receivable.
• Which of the following accounts is NOT an asset account? a. Cash b. Accounts Payable c. Building d. Equipment
• Which of the following would not be classified as a Current Asset: a. Equipment. b. Supplies. c. Accounts Rec Accounts Receivable. d. Cash.
• Which of the following is an asset account? a. wages payable b. notes payable c. unearned revenue d. accounts receivable
• Which of the following is not an asset: a. Cash b. Accounts receivables c. Intangibles d. Unearned revenues e. Goodwill
• Which of the following asset accounts is increased when a receivable is collected? a. Accounts Payable. b. Supplies. c. Cash. d. Accounts Receivable.
• Which of the following are assets? (check all that apply) Cash Accounts Payable Common Stock Accounts Receivable Retained Earnings
• Which of the following items is not in a balance sheet? A) Revenue B) Accounts Receivable C) Equipment D) Accounts Payable
• Which of the following would not be included on a balance sheet? A) Accounts receivable B) Accounts payable C) Sales D) Cash
• Which of the following is a liability account? a. accounts receivable b. cash c. building d. notes payable
• Which of the following accounts is not classified under assets? A) Cash B) Salaries Payable C) Accounts receivables D) Notes receivable E) Accrued liabilities Cash
• Which type of account would not be reported on the balance sheet? A. Accounts Payable. B. Equipment. C. Expense. D. Cash.
• Which of the following is an asset account? A. Salaries Expense B. Accounts Payable C. Service Revenue D. Prepaid Expense
• Which of the following is NOT an item of a Balance Sheet? A) Accounts Receivable B) Accounts Payable C) Sales Revenue D) Marketable Securities
• Which of the following in an account is an asset? a. Salaries expense. b. Accounts payable. c. Service. d. Revenue. e. Prepaid expense.
• Which of the following is the most liquid asset? A. Cash B. Prepaid Expenses C. Building D. Accounts Receivable
• A company's balance sheet shows the following: Cash Accounts receivable Equipment Equity What is the amount of liabilities?
• Of the following assets, which one would be listed first on the balance sheet? a. Prepaid Expenses b. Land c. Cash d. Accounts Receivable
• Which of the following items would be classified as long-term operational assets? a. Accounts Payable, Unearned Revenue, Notes Payable. b. Building, Equipment, Patent. c. Cash, Inventory, Accounts Receivable. d. Accounts Receivable, Prepaid Rent, Inventor
• Which of the following accounts increases with a debit? a. Cash b. Interest payable c. Accounts payable d. Capital
• Which account below should be debited to record the purchase of merchandise for resale using cash? a. Cash b. Accounts Receivable c. Inventory d. Accounts Payable
• Which of the following is not a liability? a. Unearned Revenue b. Accounts Payable c. Accounts Receivable d. Note Payable
• Which of the following accounts is an asset? a. Salaries expense. b. Accounts payable. c. Service revenue. d. Prepaid expense.
• The following items are taken from the financial statements of PQR Company for 2013. Cash $100,000 Inventory150,000 Accounts Payable 123,000 Accounts Receivable 40,000 Supplies 10,000 Salaries Payable30,000 Unearned Revenue 75,000 Intangible Assets 78,
• Which of the following is a liability account? a. Retained Earnings b. Equipment c. Utilities payable d. Common stock
• Which of the following asset sequences are presented correctly if they were to appear in a reliable balance sheet? a. Cash; accounts receivable; inventory; property, plant &equipment. b. Cash; property, plant & equipment; accounts receivable; inventory. c
• Which account below should be credited to record the purchase of merchandise for resale on account? a. Cash b. Accounts Receivable c. Inventory d. Accounts Payable
• Which of the following is not a liability? a. Accounts payable b. Unearned revenue c. Wages payable d. Prepaid expense
• The following items are taken from the financial statements of SGB Company for 2013: Cash $300,000 Accounts receivable $150,000 Inventory $70,000 Accounts payable $13,000 Supplies $20,000 Salaries payable $10,000 Unearned revenue $25,000 Intangible assets
• Which of the following accounts does NOT have a contra asset account associated with it? a.Land b.Buildings c.Store Equipment d.Office Equipment
• Which of the following accounts require adjusting entries? a. Accounts Receivable. b. Cash. c. Inventory. d. Unearned Revenue. e. Accounts Payable.
• Which of the following is a category of accounts on a classified balance sheet? A. Cash B. Accounts payable C. Long-tern assets
• Which of the following accounts does cash basis accounting ignore? a. payables b. revenues c. cash d. expenses
• Which of the following are usually NOT directly affected by adjusting entries? A) Asset accounts B) Liability accounts C) Revenue accounts D) Capital stock accounts
• Which of the following items will least likely appear on the balance sheet of a service business? A) Inventory B) Accounts receivable C) Accounts payable D) Cash
• Which of the following accounts has a normal debit balance? A. Revenue. B. Notes Payable. C. Cash. D. Accounts Payable.
• Which of the following accounts would be reported as assets on the balance sheet? a. cash, accounts payable, and notes payable b. cash, retained earnings, and accounts receivable c. cash, accounts receivable, and inventories d. inventories, property and e
• The account debited when payment is made for equipment purchased previously on account is: A. accounts receivable B. cash C. accounts payable D. equipment
• Which of the following is true about accounts payable? a) Accounts payable should not be reported at their present value. b) When accounts payable are recorded at the net amount, a Purchase Discounts account will be used. c) When accounts payable are reco
• Which of the following is considered to be an expense on the income statement? a. accounts payable b. notes payable c. wages payable d. cost of goods sold
• Which of the following is a capital expenditure? a. Payment of an accounts payable. b. Retirement of bonds payable. c. Payment of federal income taxes. d. Money spent to acquire physical assets.
• Which of the following is not considered to be a liability? (a) Accounts payable (b) Unearned revenue (c) Wages payable (d) Cost of goods sold.
• Which of the following accounts normally has a credit balance? A. Notes Payable B. Dividends C. Rent Expense D. Accounts Receivable
• Which of the following is included in the balance sheet? a. Accounts payable b. Revenue c. Salaries expense d. Utility expense
• Which of the following accounts reported on a balance sheet is merely an estimate? a. Buildings b. Equipment c. Accounts payable d. Allowance for doubtful accounts e. Common stock
• Which of the following accounts has a normal debit balance? a. merchandise inventory. b. sales. c. interest revenue. d. accounts payable.
• Which of the following is a contra account? a. Accounts receivable b. Bad debt expense c. Allowance for doubtful accounts d. Accounts payable e. Sales
• Which account is a liability account? a. Account payables b. Sales c. Purchases d. Account receivables
• Which of the following accounts has a normal debit balance? a) Sales b) Merchandise Inventory c) Accounts Payable d) Interest Revenue
• Which of the following accounts is decreased with a debit? A) Rent Expense B) Retained Earnings C) Equipment D) Accounts Receivable
• Accounts payable: $30,000 Accounts receivable: $65,000 Accrued liabilities: $7,000 Cash: $20,000 Intangible assets: $40,000 Inventory: $72,000 Notes payable (short-term): $20,000 Property, plant, and equipment: $625,000 Prepaid expenses: $2,000 \
• The following accounts are taken from the ledger of Boardin' Company at December 31, 2010. 200 Notes Payable $20,000 100 Cash $6,000 300Hawk, Capital25,000 120 Supplies 5,000 150 Equipment 80,000 522Supplies Expense 2,000 310 Hawk, Drawing8,000 220 Sa
• A bond payable is similar to which of the following? A. Accounts Payable B. Notes Payable C. Accounts Receivable D. Cash
• Which of the following is a method to generals cash from accounts receivable? AssignmentFactoring a.YesNo b.YesYes c.NoYes d.NoNo
• Which of the following accounts has a normal debit balance? a.Accounts Payable. b.Retained Earnings. c.Prepaid Rent. d.Common Stock.
• Which of the following accounts normally has a debit balance? a. Dividends Payable b. Depreciation Expense c. Common Stock d. Accounts Payable
• Identify the account below that is classified as a liability account: a) Cash c) Accounts Payable c) Salaries Expense d) Common Stock e) Equipment 7
• Which of the following accounts is most likely associated with an accrued expense? a. Depreciation Expense b. Salaries Payable c. Unearned Revenue d. Accounts Receivable
• Which of the following is not a current liability? a. Accounts payable. b. Sales tax payable. c. Unearned revenues. d. Bonds.
• Which of these items are liabilities of White Glove Cleaning Service? a) Cash b) Equipment c) Accounts payable. d) Salaries and wages e) Dividends payable f) Accounts receivable g) Service revenue h) Supplies i) Rent expense
• The following items are taken from the financial statements of BCT Company for 2013: Cash $138,800 Accounts Payable 75,000 Supplies 15,000 Accounts Receivable 35,000 Inventory 45,000 Salaries Payable 30,000 Unearned Revenue 45,000 Property, plant,
• Which of the following is a balance sheet account? a. Sales b. Utilities payable c. Interest expense d. Net income
• Which of the following is a nominal account? -Retained Earnings. -Accounts Receivable. -Purchase Returns and Allowance. -Accumulated Depreciation.
• Identify on which statement the following item would appear: Accounts payable, ending balance. a. Income Statement b. Balance Sheet c. Statement of Cash Flows
• Which account below should be debited to record receiving a payment on an account receivable? a. Cash b. Accounts Receivable c. Allowance for Doubtful Accounts d. Bad Debt Expense (Ret. Earn)
• Which of the following accounts decreases with a debit? A. Accounts Receivable B. Notes Payable C. Rent Expense D. Cash
• The natural balance of all of the following accounts is a debit, except: A) Revenue B) Equipment C) Expenses D) Accounts receivable
• Which group of accounts is comprised of only assets? a) Accounts Receivable, Revenue, Cash b) Cash, Accounts Payable, Building c) Prepaid Expenses, Building, Patents d) Unearned Revenues, Prepaid Expenses, Cash
• A company's balance sheet shows the following: cash is $56,000, accounts receivable is $33,000, office equipment is $67,000, and accounts payable is $34,000. What is the amount of owner's equity?
• Identify which of the following lists includes only examples of assets. a. Cash, accounts payable, supplies. b. Unearned revenue, accounts payable, cash. c. Equipment, dividends, land. d. Building, cash, accounts receivable.
• Which of the following is a liability account? A. Salaries Expense B. Accounts Payable C. Service Revenue D. Prepaid Expense
• Which of the following accounts would not be included on the Balance sheet? a. Investment income. b. Accounts receivable. c. Interest payable. d. Retained earnings.
• Given the following adjusted trial balance: Debit Credit Cash $1994 Accounts receivable 2518 Inventory 3749 Prepaid rent 103 Equipment360 Accumulated depreciation-equipment $62 Accounts payable 98 Unearned service revenue 146 Common stock 248 Retaine
• Which one of the following accounts will be debited when making closing entries? (a) Cost of Goods Sold (b) Sales Revenue (c) Cash (d) Accounts Payable
• Which of the following is a use of cash? a. creating an accounts payable b. collecting an accounts receivable c. securing a new loan d. expensing depreciation e. reducing accounts payable
• Which item would not appear on a Balance Sheet? a) Interest Payable b) Retained Earnings c) Prepaid expenses d) Accounts Receivable e) Gross Profit
• Which of the following accounts should be closed to the Income Summary account at the end of the fiscal year? a. accounts payable. b. depreciation expense - machinery. c. accounts receivable. d. cash
• The accounting records of Nettle Distribution show the following assets and liabilities as of December 31, 2018, and 2019. December 31 2018 2019 Cash $44,273 $6,866 Accounts receivable24,032 18,841 Office supplies 3,791 2,777 Office equipment 116,368 123
• Recording the collection of accounts receivable by debiting Cash and crediting Revenue A) Overstates cash B) Understates owner's equity C) Overstates assets D) Overstates both cash and assets
• The following account balances were taken from the 2013 post-closing trial balance of the Bowler Corporation: cash, $7,000; accounts receivable, $12,000; inventory, $20,000; machinery and equipment, $
• Which of the following accounts should be closed to the Income Summary account at the end of the fiscal year? a) Cash b) Accounts Receivable c) Depreciation Expense - Machinery d) Accounts Payable
• In which of the following situations would the trial balance not balance? A. A $1,000 collection of an account receivable was erroneously posted as a debit to Accounts Receivable and a credit to Cash. B. The purchase of office equipment for $1,200 was pos
• The trial balance for K and J Nursery, Inc., listed the following account balances at December 31, 2018, the end of its fiscal year: cash, $16,000; accounts receivable, $11,000; inventories, $25,000; equipment (net), $80,000; accounts payable, $14,000; wa
• Identify the following account as (a) asset, (b) liability, (c) revenue, or (d) expense. Accounts Receivable
• Which of the following would be listed as a current liability? (a) Cash in the bank (b) Notes payable due in two years (c) Supplies (d) Accounts payable.
• Which of the following is an asset? a. Service Revenue b. Notes Payable c. Supplies Expense d. Prepaid Rent
• Use the following accounts and balances to prepare a balance sheet for Paulding Company on December 31, 2013. Accounts Payable: $20,000 Common Stock: $24,000 Cash: $9,600 Retained Earnings, Dec. 31, 2013: $4,800 Equipment: $26,400 Accounts Receivable: $12
• Which of these accounts does NOT have a contra asset account associated with it? a. land b. buildings c. store equipment d. office equipment
• Cash is $475,000, Accounts Payable is $200,000, Accounts Receivable is $150,000, Wages Payable is $225,000, Bonds Payable is $700,000, Inventory is $750,000. Find the working capital?
• Which of the following accounts should be closed to the Income Summary account at the end of the fiscal year? A. Depreciation Expense-Machinery B. Accounts Receivable C. Accounts Payable D. cash
• Cash$30,000$25,000 Marketable securities20,00025,000 Accounts receivable (net)40,00025,000 Inventory60,00055,000 Prepaid expenses16,00010,000 Property, plant, and equipment234,000200,000 T
• Using the following accounts, prepare a classified balance sheet at year-end, May 31, 20xx: Accounts payable $800 Accounts Receivable $1,100 Accumulated Depreciation-Equipment $700 Cash$200 Owner's Investment $1,000 Equipment$3,000 Franchise $200 Inves
• The following accounts are showing for ABC Company. Cash = $16,080; accounts receivable = $9,500; accounts payable = $14,000; supplies = $675; prepaid expenses = $3,150; equipment = $25,200; accumulated depreciation - equipment = $8,150; taxes payable = $
• Identify which statement the following item would appear: Accounts receivable, ending balance. a. Income Statement b. Balance Sheet c. Statement of Cash Flows
• Which of the following statements is true? i. Accounts receivable may be reported as a current asset or a current liability. ii. Accounts receivable are reported at net realizable value on the balance sheet. a. i only b. ii only c. both i and ii d. neithe
• The following are the unadjusted balances in the accounts of Trading Ltd. for the fiscal year ended 9/30/2011: Cash $28,750 Accounts receivable $32,900 Prepaid insurance $4,800 Stores supplies $12,400 Inventory $36,000 Stores equipment $32,300 Acc. Deprec
• Baugh and Essary report the following account balances: inventory of $17,600, equipment of $128,300, accounts payable of $24,700, cash of $11,900, and accounts receivable of $31,900. What is the amount of the current assets? a. $46,700 b. $56,000 c. $6
• Which of the following accounts decreases with a credit? a. Cash b. Common Stock c. Accounts Payable d. Notes Payable