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xeze [42]
3 years ago
14

Bledsoe Company received $17,000 cash from the issue of stock on January 1, Year 1. During Year 1, Bledsoe earned $8,500 of reve

nue on account. The company collected $6,000 cash from accounts receivable and paid $5,400 cash for operating expenses. Based on this information alone, during Year 1,A. Part 2Which of the following transactions does not involve an accrual?Recording interest earned that will be received in the next period.Recording salary expense incurred but not yet paid.Recording operating expense incurred but not yet paid.Recording the pre-payment of two years' worth of insurance.B. Part 3The recognition of an expense may be accompanied by which of the following?An increase in liabilitiesA decrease in liabilitiesA decrease in revenueAn increase in assetsPart 4The adjusting entry to recognize work completed on unearned revenue involves which of the following?An increase in assets and a decrease in liabilitiesAn increase in liabilities and a decrease in equityA decrease in liabilities and an increase in equityA decrease in assets and a decrease in liabilitiesPart 5Which of the following would cause net income on the accrual basis to be different from (either higher or lower than) "cash provided by operating activities" on the statement of cash flows?Purchased land for cash.Purchased supplies for cash.Paid advertising expense.Paid dividends to stockholders.
Business
1 answer:
Vsevolod [243]3 years ago
7 0

Answer:

Part 2 Which of the following transactions does not involve an accrual?

  • Recording the pre-payment of two years' worth of insurance. THIS IS AN ASSET EXCHANGE TRANSACTION SINCE IT CREATES AN ASSET ACCOUNT, PREPAID INSURANCE, THAT DECREASES AS TIME PASSES

Part 3 The recognition of an expense may be accompanied by which of the following?

  • An increase in liabilities. EXPENSES ARE NOT ALWAYS PAID IMMEDIATELY, FOR EXAMPLE UTILITIES, THEY FORM A SHORT TERM LIABILITY UNTIL PAID.

Part 4 The adjusting entry to recognize work completed on unearned revenue involves which of the following?

  • A decrease in liabilities and an increase in equity. UNEARNED REVENUE IS A LIABILITY ACCOUNT, AND AS THE WORK IS COMPLETED, REVENUE SHOULD INCREASE, THEREFORE EQUITY WILL INCREASE.

Part 5 Which of the following would cause net income on the accrual basis to be different from (either higher or lower than) "cash provided by operating activities" on the statement of cash flows?

  • Paid advertising expense. IF THE COMPANY PAID ADVERTISING EXPENSES ON ACCOUNT.

Explanation:

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contractual vertical marketing system

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Employers in the construction sector would benefit most from the validation of personnel selection information to aid in reducing employee theft.

<h3>What is validation?</h3>
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In which business continuity planning task would you actually design procedures and mechanisms to mitigate risks deemed unaccept
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It is Business Impact Assessment (B)

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Organizational plans and business decisions are vulnerable to various risks that could hinder them from materializing .

After business decisions have been made at strategic level, there is a need to carry out their business impact assessment to understand the relationship that exist between their impact and their  likelihood of occurrence.

Having assessed the impact and likelihood of occurrence, some risks are accepted,transferred while some are completely avoided.

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Current issues in the framework by regarding fabricating costs as a period cost  

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Increasingly exact impression of the inconstancy of the sources for example on the off chance that there are five factors, it is more precise than one.  

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Name the four areas in which standards of ethical conduct exist for management accountants in the united states. What organizati
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​The four areas in which standards of ethical conduct exist for management accountants in the united states are.

(1) Competence,​ (2) Confidentiality,​ (3) Integrity, and​ (4) Credibility. These standards are set by the Institute of Management Accountants​ (IMA).

<h3>What is Institute of Management Accountants?</h3>
  • The National Association of Cost Accountants, which eventually became Institute of Management Accountants, was established in Buffalo, New York in 1919. Its main office is in Montvale, New Jersey, in the United States, and it also has regional offices there as well as in Europe, the Middle East, and India.
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  • Twelve people from different accounting bodies, including the FASB and other well-known regulatory bodies, made up the group.
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