ACCOUNTING 200 EXAM 10 PRACTICE QUESTIONS WITH 100% CORRECT ANSWERS

ACCOUNTING 200 EXAM 10
PRACTICE QUESTIONS WITH
100% CORRECT ANSWERS
earned

more revenue

used

expense

received cash

up cash

deferred revenue

received in advance (doing work for earning revenue

issuing note payable

up note payable

issuing capital stock

up capital stock

depreciation

deferred expense

owed.... not paid

up accounts payable

used this month

up expense

collected on account

up cash; up account receivable

, rendered services on account

up revenue; up account receivable

paid on account

down cash; down accounts payable; down asset; down liability

purchase on account

up asset; up liability

not yet earned

up unearned revenue ; deferred revenue

received in advance

up unearned revenue

rendered services

up revenue

billed/ not billed

up accounts receivable

deferred

was paid before

accured

will be paid

unearned revenue

owes

revenue

up retained earnings

expense