Assume that $18,500 cash is paid for insurance to cover the next


Question Description:

35

Assume that $18,500 cash is paid for insurance to cover the next year. The appropriate debit and credit are: debit prepaid insurance $18,500, credit cash $18,500. debit insurance expense $18,500, credit prepaid insurance $18,500. debit prepaid insurance $18,500, credit insurance expense $18,500. debit cash $18,500, credit prepaid insurance $18,500. MC Qu. 121 When a company pays… When a company pays $2,800 dividends to its stockholders, the transaction should be recorded as: debit cash; credit dividends. debit dividends; credit cash. debit dividends; credit accounts payable. debit retained earnings; credit dividends. MC Qu. 117 Summer Leasing received… Summer Leasing received $10,700 for 24 months rent in advance. How should Summer record this transaction? debit prepaid rent; credit rent expense debit cash; credit service revenue debit rent expense; credit cash debit cash; credit unearned revenue MC Qu. 127 Clement Company paid an account payable related to a previous… Clement Company paid an account payable related to a previous utility bill of $1,000. This transaction should be recorded as follows on the payment date: debit cash $1000, credit utilities expense $1000. debit utilities expense $1,000, credit cash $1,000. debit accounts payable $1,000, credit cash $1,000. debit cash $1,000, credit accounts payable $1,000. MC Qu. 115 When a company pays utilities of… When a company pays utilities of $1,780 in cash, the transaction is recorded as: debit cash $1,780, credit utilities expense $1,780. debit utilities expense $1,780, credit utilities payable $1,780. debit utilities payable $1,780, credit cash $1,780. debit utilities expense $1,780, credit cash $1,780. bellolevar
posted a question ยท Sep 09, 2015 at 6:54pm

Answer

35