Finance Questions

T/F: Some accounts earn interests more then others

Does a credit card or a debit card cost the user more?

Are student loans good debt or bad debt?

T/F: student loans must be payed back

What is an example of depreciation?

The statement of retained earnings explains changes in equity from net income (or loss) and from any ________ over a period of time

A graphical presentation of data to help in understanding their significance is called data ________

A process of analyzing data to identify meaningful relations and trends is called data _______

Given the accounts below, choose all of the ones that affect equity.

After recording the transaction, assets will always equal _____ + ______

According to the fraud triangle, the three factors that must exist for a person to commit fraud include______(POR)

For the current year, a business has earned (but not recorded or received) $200 of interest from investments.Record the adjusting entry

By the end of the accounting period, employees have earned salaries of $500, but they will not be paid until the following pay periodRecord the adjusting entry

$1,000 of cash was received in advance of performing services. By the end of the period, $300 had not yet been earned(The Unearned revenue account was increased at the time of the initial cash receipt.)

On December 27, a business completed a $400 service that had not yet been billed or recorded as of December 31. Record the adjusting entry

An advance payment of $1,000 for services was received on December 1and was recorded as a liability. By the end of the year, $400 had been earned.Record the Dec. 31 adjusting entry

$800 of supplies were purchased at the beginning of the monthThe Supplies account was increased. As of the end of the period, $200 of supplies still remain. Record the adjusting entry

An advance payment of $1,000 for services was received on December 1 and was recorded as a liability. By the end of the year, $400 had been earned.Record the Dec. 31 adjusting entry

J. Jackson invested $1,000 in his business in exchange for common stock. Show how to use T-accounts to record this transaction by selecting the correct answer below.

What is the normal balance of Revenues