Cob 241 exam 1 - Study guides, Class notes & Summaries

COB 241 Accounting Final Exam Review Questions and answers, rated A+ 1. An account's "normal" balance is a. The debit side b. The credit side c. The side on which decreases are recorded d. The side on which increases are recorded - -D 2. Which of the following accounts normally has a debit balance? a. Accumulated depreciation b. Depreciation expense c. Unearned revenue d. Retained earnings - -B 3. Beginning and ending Cash balances were $7,500 and $11,000, respectively. If total...

COB 241: Ch 7 Exam Questions With 100% Answers Journal entry to recognize accrued interest includes a: - ANSWER- credit to Interest Revenue debit to Interest Receivable When a company recognizes uncollectible accounts expense, - ANSWER- cash flow from operating activities is not affected Which of the following statements is affected when a company writes-off an uncollectible account receivable - ANSWER- balance sheet when a company recognizes a write-off of an uncollectible account,...

COB 241: Ch 7 Exam Questions With 100% Answers Journal entry to recognize accrued interest includes a: - ANSWER- credit to Interest Revenue debit to Interest Receivable When a company recognizes uncollectible accounts expense, - ANSWER- cash flow from operating activities is not affected Which of the following statements is affected when a company writes-off an uncollectible account receivable - ANSWER- balance sheet when a company recognizes a write-off of an uncollectible account, the...

COB 241: Ch 7 Exam Questions With 100% Answers Journal entry to recognize accrued interest includes a: - ANSWER- credit to Interest Revenue debit to Interest Receivable When a company recognizes uncollectible accounts expense, - ANSWER- cash flow from operating activities is not affected Which of the following statements is affected when a company writes-off an uncollectible account receivable - ANSWER- balance sheet when a company recognizes a write-off of an uncollectible account, the...