[sangitathamel]

Which of the following is an asset account?
A retained earning
b. unearned revenue
c. prepaid expenses
d. social security taxes withheld

[sangitathamel]

On march 15 your firm incurs $600 for auto repairs. On march 28th your firm pays $400 for the repairs and on April 14th, pays the $200 balance. If your firm is on a cash basis, how do you record the $200 payment in April ?

[sangitathamel]

Your firm's ending statement balance for June is $44750. May's bank statement balanced to the penny. But June is off. The balance per the books at the end of June is $46135.
The following adjustment are shown in the bank statement.
- bank service charges for $65 - not entered into the books.
- deposits in transit amounting to $6750
- checks outstanding amounting to $5250
- company check #3789 was written for $570 but recorded for $750

[sangitathamel]

On November 11, your calendar year firm receives $6000 cash as an advances payment for future services, which is recorded as follows :
Debit cash 6000
Credit revenue 6000

On December 23 your completes the services and records the following entry :
Debit revenue 6000
Credit unearned revenue 6000

[sangitathamel]

What corrcting entry, if any, should you make ?
A. Debit unearned revenue 6000
Credit revenue 6000
B. Debit unearned revenue 6000
Credit cash 6000
c. debit cash 6000
Crdit revenue 6000
d. no entry needed

[sangitathamel]

You work for a technology firm. Your firm sells services and hardware. They buy the hardware at a local discount computer store and resell it locally. They also buy hardware for internet use from the same store.
What revenue stream should your company charge sales tax ?
a. services
b. hardware
c. both services and hardware
d. none

[ScottGem]

Please review the guidelines on asking for help with homework that can be found here:



Ask Me Help Desk - Announcements in Forum : Arts & Literature

[sangitathamel]

You work for a technology firm. Your firm sells services and hardware. They buy the hardware at a local discount computer store and resell it locally. They also buy hardware for internet use from the same store.
What revenue stream should your company charge sales tax ?
a. services
b. hardware
c. both services and hardware
d. none

Your firm should pay sales tax to the hardware store for
a. everything they buy
b. for only the hardware they use internally
c. for only the hardware they sell locally
d. they should never pay sales tax to the vender

[sangitathamel]

You received 2 checks in the mail and they need to be recorded into QuickBooks. One is a payment from an accounts receivable customer. The other is a hardware purchase rebate. You enter the customer payment into “Receive payments” and open “Record Deposits”. The customer payment shows in the payments window. Now you need to record the rebate check.

8. Which process is the best way to record the rebate check?
A. Add the rebate check manually into the “Record Deposits” window.
B. Create an invoice for the rebate and run it through the same process as the customer payment.
C. Make two deposits and add the rebate directly into the check register as its own deposit.
D. Make a journal entry to record the rebate deposit and the offsetting reduction in hardware expense.

[sangitathamel]

Can you give an example or tell a story of something you’ve done on your or other’s books that integrates technology with bookkeeping/accounting. How have you used technology for bookkeeping/accounting solutions?

[sangitathamel]

on march 15 your firm incurs $600 for auto repairs. On march 28th your firm pays $400 for the repairs and on april 14th, pays the $200 balance. If your firm is on a cash basis, how do you record the $200 payment in april ?

33

[morgaine300]

Could you please pay attention to what ScottGem said? If you aren't bothering to read what people are posting to you, why are you posting?

These are all your homework problems and we are not here to do your homework for you. Not to mention that it's going to get quite confusing having that many problems all in one thread.