Question

The period end adjusting entry for bad debt expense under the allowance method is

	Cash, debit; Accounts Receivable/customer name, credit.
	not required.
	Bad Debt Expense, debit; Accounts Receivable/customer name, credit.
	Bad Debt Expense, debit; Allowance for Uncollectible Accounts, credit.

Bach Instruments had total assets of $560,000; total liabilities of $250,000; and total Stockholders' Equity of $310,000. Bach's debt ratio is

44.6%.

28.7%.

80.6%.

55.4%.

The entry to record selling 300 shares of stated value $60 common stock for $70 per share would be

	debit Cash $21,000; credit Common Stock $18,000; credit Paid-in Capital in Excess of Stated Value–$3,000.
	debit Cash $21,000; credit Common Stock $21,000.
	debit Cash $18,000; debit Paid-in Capital in Excess of Stated Value–$3,000; credit Common Stock $21,000.
	debit Cash $18,000; credit Common Stock $18,000.

The Statement of Cash Flows reports the sources and uses of cash from all of the following EXCEPT

financing activities.

managerial activities.

operating activities.

On the Income Statement, the results of discontinued operations are reported

immediately after the extraordinary items section.

before the operating income section.

as part of other income (expense).

net of income tax or net of income tax savings.

By NOT accruing warranty expense

reported expenses will be understated, and net income will be understated.

reported expenses will be overstated, and reported liabilities will be understated.

reported liabilities will be understated, and net income will be overstated.

reported liabilities will be overstated, and net income will be understated.

The adjusting entry to record incurred but not yet paid employee wages includes

	a debit to Cash.
	a debit to Wages Payable.
	a debit to Wages Expense.
	a debit to Wages Earned.

The type of stock that does NOT carry paid-in capital in excess of par is called

	par stock.
	stated value stock.
	no-par stock.
	outstanding stock.

investing activities.

What was the percentage of change in Accounts Receivable if the balance was $80,000 in 2013 and $60,000 in 2014?

	+25.00%.
	+33.33%.
	-25.00%.
	-33.33%.

In accounting, what is the meaning of capitalized?

	Capitalized means that an asset account is debited (increased) for the cost of an asset.
	Capitalized means that the cost of an asset is recorded as a debit (increase) to expense.
	Capitalized means that a given city has been selected as a government center.
	Capitalized means that a liability account is credited (increased) for the cost of an asset.