Unit 5 Quiz Free Essays

Understudy Gradebook Exam https://takeexam. next. ecollege. We will compose a custom article test on Unit 5 Quiz or on the other hand any comparable point just for you Request Now com/(NEXT(3d4570aa34))/Main/Cours†¦ Grading Summary These are the consequently registered Date and Time Started: aftereffects of your test. Evaluations for paper Time Spent: questions, and remarks from your educator, are in the â€Å"Details† area underneath. Focuses Received: Question Type: Multiple Choice # Of Questions: 10/31/2012 8:58:27 AM 38 min , 14 secs 10/20 (half) # Correct: 5 Grade Details †All Questions 1. Question : Carlton Company sold gear for $3,700 that initially cost $22,000. The equalization of the Accumulated Depreciation account identified with this gear was $19,000. The section to record the removal of this gear would remember a charge to Loss for Sale of Equipment of $700. credit to Gain on Sale of Equipment of $700. credit to Equipment of $3,000. charge to Gain on Sale of Equipment of $700. 0 of 2 Student Answer: Points Received: Comments: 2. Question : The premium on a two-year protection strategy lapsing on June 30, 2015, was paid altogether on July 1, 2013. The first installment was charged to the protection business ledger. The fitting diary passage has been recorded on December 31, 2013. The parity in the prepaid resource account on December 31, 2013, ought to be equivalent to the first installment. igher than if the first installment had been at first charged to an advantage account. lower than if the first installment had been at first charged to an advantage account. equivalent to it would have been if the first installment had been at first charged to a benefit account. 2 of 2 Student Answer: Points Received: Comments: 3. Question : S tudent Answer: Failure to record the lapsed measure of prepaid lease cost would not downplay cost. exaggerate net gain. exaggerate owners’ value. downplay liabilities. 2 of 2 Points Received: 1 of 3 11/7/2012 2:52 PM Student Gradebook Exam https://takeexam. next. ecollege. om/(NEXT(3d4570aa34))/Main/Cours†¦ Comments: 4. Question : The Supplies on Hand account balance toward the start of the period was $6,600. Supplies totaling $12,825 were bought during the period and charged to Supplies on Hand. A physical tally shows $3,825 of Supplies on Hand toward the finish of the period. The correct diary passage toward the finish of the period charges Supplies on Hand and credits Supplies Expense for $9,000. charges Supplies Expense and credits Supplies on Hand for $12,825. charges Supplies on Hand and credits Supplies Expense for $15,600. charges Supplies Expense and credits Supplies on Hand for $15,600. of 2 Student Answer: Points Received: Comments: 5. Question : Student Answe r: A collected cost can be depicted as a sum paid and coordinated with income for the present time frame. paid and not coordinated with profit for the present time frame. not paid and not coordinated with profit for the present time frame. not paid and coordinated with profit for the present time frame. 2 of 2 Points Received: Comments: 6. Question : How might continues got ahead of time from the offer of nonrefundable tickets for the Super Bowl be accounted for in the seller’s budget summaries distributed before the Super Bowl? Income for the whole continues. Peruse likewise Quiz Week 4 Income less related expenses. Unmerited income less related expenses. Unmerited income for the whole continues. 2 of 2 Student Answer: Points Received: Comments: 7. Question : On June 30, an organization paid $3,600 for protection premiums for the present year and charged the sum to Prepaid Insurance. At December 31, the accountant neglected to record the sum lapsed. The oversight has the accompanying impact on the budget reports arranged December 31: exaggerates owners’ value. exaggerates resources. downplays total compensation. exaggerates both owners’ value and resources. Understudy Answer: 2 of 3 11/7/2012 2:52 PM Student Gradebook Exam ttps://takeexam. next. ecollege. com/(NEXT(3d4570aa34))/Main/Cours†¦ Points Received: Comments: 2 of 2 8. Question : Student Answer: Total net gain over the life of an endeavor is higher under the money premise than under the accumulation premise. lower under the money premise than under the collection premise. the equivalent un der the money premise as under the gathering premise. not powerless to estimation. 0 of 2 Points Received: Comments: 9. Question : Sky Company gathered $12,350 in enthusiasm during 2013. Sky demonstrated $1,850 in intrigue receivable on its December 31, 2013, monetary record and $5,300 on December 31, 2012. The intrigue income on the pay proclamation for 2013 was $3,450. $8,900. $12,350. $14,200. 0 of 2 Student Answer: Points Received: Comments: 10. Question : Student Answer: If a cost has been caused however not yet recorded, at that point the finish of-period changing section would include a risk account and a benefit account. a risk account and an income account. a risk and a business ledger. a receivable record and an income account. 0 of 2 Points Received: Comments: * Times are shown in (GMT-07:00) Mountain Time (US Canada) 3 of 3 11/7/2012 2:52 PM Instructions to refer to Unit 5 Quiz, Essay models