Examlex
Which of the following transactions would increase total assets? I. Borrowed cash on a note payable, $80,000
II. Provided services on account, $10,000
III. Received cash from a customer as payment on account, $8,000
IV. Received a utility bill, $1,200
Accidental Sale
A transaction where goods are sold unintentionally, often due to error or misunderstanding.
Repair Shop
A place or business where mechanical or electronic items are fixed or maintained.
Merchant
An individual or business entity involved in the trade of goods or services, especially one dealing with the sale of goods.
Uniform Commercial Code
A comprehensive set of laws and regulations that govern commercial transactions in the United States, intended to harmonize laws across states.
Q9: The balances in the accounts of liabilities
Q12: In a bank reconciliation, an EFT cash
Q36: The debt ratio measures a firm's ability
Q82: Which of the following is NOT an
Q92: Under the allowance method, the entry to
Q93: One overall objective of accounting is to
Q120: The unearned revenue adjustment decreases both net
Q122: Martin Supply Service received $1,000 cash from
Q126: Generally accepted accounting principles, or GAAP, are
Q155: Cash for merchandise delivered to the customer