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Practice test answers ch 12

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Practice Answers for Chap 1,2 Acctg 1 Multiple Choice 1 2 3 4 5 6 7 8 9 10 11 A D A D E B B B B D D 12 13 14 15 16 17 18 19 20 21 22 C A C B C B D A D D A Problem #1 1-Jun Cash 12,000 Capital (Quark) 3-Jun Equipment A/P 12,000 1,800 1,800 4-Jun Prepaid Insurance Cash 360 6-Jun Office Supplies Cash 300 9-Jun Computer Cash A/P 10-Jun A/R 360 300 7,500 1,500 6,000 40 Revenue 14-Jun A/P 40 1,800 Cash 25-Jun Cash 1,800 35 Revenue 30-Jun Cash 35 40 A/R 30-Jun Withdrawals Cash 40 500 500 Problem #2 Merry Mowers Trial Balance May 31, xx Cash Office Supplies Equipment A/P N/P Capital (M.Sanchez) Withdrawals (M.Sanchez) Lawncare revenue Gas and Oil expense TOTAL DR 9,440 500 3,000 CR 500 2,000 8,000 550 3,200 210 ------------- -------------13,700 13,700 Problem #3 PC Partners Income Statement For month ended 9-30-04 Revenue: Installation Revenue Repair Revenue Misc ...
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