Concept – Internal Events T/F
Financial Accounting and Intermediate Accounting
Spiceland, Nelson, and Thomas and Spiceland, Thomas, and Herrman
05th Edition, 06th Edition, and 10th Edition
An internal event involves exchanges between a company and some separate economic entity. T/F
Concept – Jarvis Company
Financial Accounting and Intermediate Accounting
Spiceland, Nelson, and Thomas and Spiceland, Thomas, and Herrman
05th Edition, 06th Edition, and 10th Edition
Suppose Jarvis Company signs a note payable and receives the cash. This transaction will increase the what account?
Concept – Londa Corporation
Financial Accounting and Intermediate Accounting
Spiceland, Nelson, and Thomas and Spiceland, Thomas, and Herrman
05th Edition, 06th Edition, and 10th Edition
Suppose Londa pays employees for the month. what would be effect on the equation?
Concept – Maintaining Accounts
Financial Accounting and Intermediate Accounting
Spiceland, Nelson, and Thomas and Spiceland, Thomas, and Herrman
05th Edition, 06th Edition, and 10th Edition
An account is maintained elements, but a what contains all of the accounts of an entity.
Concept – Paying Telephone Bill: Effect on total Assets and Stockholders’ Equity
Financial Accounting
Thomas, Tietz, and Harrison
12th Edition
Which of the following shows the effect of paying immediately the telephone bill on total assets and stockholders’ equity?
Concept – Purchase Effects Bigelow
Financial Accounting and Intermediate Accounting
Spiceland, Nelson, and Thomas and Spiceland, Thomas, and Herrman
05th Edition, 06th Edition, and 10th Edition
Suppose Bigelow Company purchases supplies on account. What are the effects on the equation?
Concept – Receiving Cash on Account will…
Financial Accounting
Thomas, Tietz, and Harrison
12th Edition
What would be the effect when a company receives cash on account from a customer?
Concept – Retained Earnings
Financial Accounting and Intermediate Accounting
Spiceland, Nelson, and Thomas and Spiceland, Thomas, and Herrman
05th Edition, 06th Edition, and 10th Edition
Indirectly, expenses will have what effect on retained earnings and revenues will will have what effect on retained earnings.