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A credit customer paid $850 toward his accounts receivable. The accountant recorded a credit to the....

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Question;A credit customer paid $850 toward;his accounts receivable. The accountant recorded a credit to the revenue;account. This error would cause __________.;A. revenue to be understated;B. cash to be overstated;C.;accounts receivable to be overstated;D. liabilities to be understated;A credit to a liability account was;posted to an expense account. This error would cause __________.;A. assets to be overstated;B. liabilities to be overstated;C. expenses to be overstated;D.;None of the above answers are correct;A credit to an asset account was;posted to a liability account. This error would cause __________.;A. assets to be understated;B.;liabilities to be overstated;C. capital to be understated;D. None of the above answers are;correct.;A debit to an expense account was;posted to a revenue account. This error would cause;A. assets to be overstated;B. liabilities to be overstated;C.;revenue to be understated;D. None of the above answers are;correct.;A withdrawal by the owner was posted;to an expense account. This error would cause;A. assets to be overstated;B. liabilities to be understated;C. withdrawals to be overstated;D.;expenses to be overstated;A credit to an asset account was;posted to a revenue account. This error would cause;A. assets to be overstated;B. revenue to be overstated;C. expenses to be overstated;D.;Both A and C are correct.;A debit to an asset account was;posted to a liability account. This error would cause;A.;assets to be understated;B. liabilities to be overstated;C. capital to be overstated;D. None of the above answers are;correct.;A debit to a liability account was;posted to a revenue account. This error would cause;A.;revenues to be understated;B. liabilities to be understated;C. capital to be overstated;D. None of the above answers are;correct.;An account that would be increased;by a debit is __________.;A.;cash;B. fees earned;C. capital;D. accounts payable;A debit to an asset account was;posted to an expense account. This error would cause;A. liabilities to be overstated;B. expenses to be overstated;C. assets to be understated;D.;Both B and C are correct.;A compound transaction was recorded;as follows: debit Equipment, $5,000, debit Cash, $1500, credit Accounts;Payable, $3,500. This error would cause;A.;assets to be overstated;B. assets to be understated;C. liabilities to be overstated;D. liabilities to be understated;A credit to a liability account was;posted to an asset account. This error would cause;A. liabilities to be overstated;B. liabilities to be understated;C. revenues to be overstated;D. revenues to be understated;A credit to an asset account was;posted to the capital account. This error would cause?;A.;assets to be overstated;B. liabilities to be overstated;C. capital to be understated;D. Both A and C are correct.;A debit to a liability account was;posted to a revenue account. This would cause;A. assets to be overstated;B.;liabilities to be overstated;C. capital to be overstated;D. revenue to be overstated;A credit to an asset account was;posted to a liability account. This would cause;A. assets to be understated;B.;liabilities to be overstated;C. capital to be overstated;D. revenue to be overstated;A credit to an asset account was;posted to a revenue account. This would cause;A. assets to be understated;B. liabilities to be understated;C. capital to be understated;D.;revenue to be overstated;A debit to a liability account was;posted to an expense account. This would cause;A. assets to be overstated;B. liabilities to be understated;C. owner's equity to be overstated;D.;expenses to be overstated;The journal entry to record a;withdrawal by the owner would most commonly include __________.;A. a debit to Wage Expense and a;credit to Cash;B. a debit to Capital and a credit;to Cash;C.;a debit to Withdrawals and a credit to Cash;D. a debit to Cash and a credit to;Wage Expense;A debit to the capital account was;posted to an expense account. This would cause;A. assets to be overstated;B. liabilities to be understated;C.;capital to be overstated;D. expense to be understated

 

Paper#51796 | Written in 18-Jul-2015

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