Debit Cash and Debit Rent Expense Credit Cash and Credit Rent Expense Debit Ren

Debit Cash and Debit Rent Expense Credit Cash and Credit Rent Expense Debit Rent Expense and Credit Cash Credit Rent Expense and Debit Cash 2- A company using the periodic inventory system has merchandise inventory costing $175 on hand at the beginning of the period. During the period merchandise
costing $635 is purchased. At year-end merchandise inventory costing $160 is on hand. The cost of merchandise sold for the year is
Answer $970 $650 $300 $620 3- After all of the account balances have been extended to the Income Statement columns of the work sheet the totals of the debit and credit columns are $77500
and $85300 respectively. What is the amount of the net income or net loss for the period?
Answer $7800 net income $7800 net loss $85300 net income $77500 net loss 4- A financial statement user would determine if a company was profitable or not during a specific period of time by reviewing
Answer the Income Statement. the Balance Sheet. the Statement of Cash Flows. cannot be determined. 5- April 23 Cash 14000
Jim Xu Capital 14000
I nvest cash in Xu Co.
The journal entry will:
Answer Increase Capital and decrease Cash Increase Cash and decrease Capital Increase Cash and increase Capital Decrease Cash and decrease Capital