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Question: for each account listed below indicate if its normal balance...

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For each account listed below, indicate if its normal balance is a debit or a credit. Select your answer by clicking in the drop down box to the right of each account. Be careful with matching questions because carmen randomizes the matches. Thus, if you print out the quiz to work on it and then enter your answers later in the week, it is very likely the order of the matches will be different. Therefore, exercise caution when entering your answers into carmen. Quiz scores will not be adjusted for errors in entering choices. cost of goods sold [ Choose] debit credit retained earnings [Choose] inventory I Choose ] interest revenue Choose ] mortgage payable Choose ] dividends Choose ]
For each account listed below, indicate whether it is a nominal account or a permanent account. Select your answer by clicking in the drop down box to the right of each account. Be careful with matching questions because carmen randomizes the matches. Thus, if you print out the quiz to work on it and then enter your answers later in the week, it is very likely the order of the matches will be different. Therefore, exercise caution when entering your answers into carmen. Quiz scores will not be adjusted for errors in entering choices. gain on sale of land I Choose ] nominal account permanent account prepaid insurance [Choose ] cost of goods sold [ Choose ] retained earnings Choose ]
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On August 1, 2018, Salmon Company borrowed $40,000 from a bank on a6%, 9-month note payable. Calculate the amount of interest expense reported by Salmon Comp any in its 2019 income statement related to this loan.
At December 31, 2020, ZZ, Inc. s unadjusted trial balance reported the following accounts: Accumulated Depreciation $57,000 16,000 ZZ, Inc. has not yet recorded adjusting entries related to the fol Lowing four items: 1) The prepaid insurance in the unadjusted trial balance relates to a 2-year insurance policy purchased on March 31, 2020 2) Depreciation expense of $9,000 has not yet been recorded
3) The note receivable was a loan given to a customer on June 1, 2020 It is a 10-month, 15% loan 4) A physical count revealed that supplies costing $8,000 were st on hand as of December 31, 2020 Calculate ZZ, Inc.s net income for 2020 after the appropriat e adjusting entries have been recorded and posted
At December 31, 2020, zZ, Inc. s unadjusted trial balance reported the following accounts: Accumulated Depreciation $57,000 Utilities Expense.. ZZ, Inc. has not yet recorded adjusting entries related to the fol lowing four items 1) The prepaid insurance in the unadjusted trial balance relates to a 2-year insurance policy purchased on March 31, 2020 2) Depreciation expense of $9,000 has not yet been recorded
3) The note receivable was a loan given to a customer on June 1, 2020 It is a 10-month, 15% loan. 4) A physical count revealed that supplies costing $8,000 were st on hand as of December 31, 2020. Calculate ZZ, Inc. s total assets at December 31, 2020 after the appropriate adjusting entries have been recorded and poste d.
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