Business Transaction II: Question Preview (ID: 27164)


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Butler Florist issued a check for $400 in partial payment of an amount owed to a creditor.
a) The business is paying off some of its debts. b) Cash in Bank will increase. c) Accounts Payable will increase. d) Accounts Receivable will increase.
Butler Florist issued a check for $400 in partial payment of an amount owed to a creditor.
a) Accounts Payable will decrease. b) Accounts Receivable will decrease. c) Cash in Bank will increase. d) Accounts Receivable will increase.
Butler Florist sold the calculator for $200 on account.
a) Accounts Receivable will increase. b) Accounts Payable will decrease. c) Accounts Payable will increase. d) Owner's Equity will increase.
Butler Florist sold the calculator for $200 on account.
a) Office Equipment will decrease. b) Owner's Equity will decrease. c) Delivery Equipment will decrease. d) Cash in Bank will increase.
Butler Florist received a check for wedding floral arrangement services, $1,200.
a) Cash in Bank will increase. b) Accounts Receivable will increase. c) Accounts Payable will increase. d) Owner's Equity will decrease.
Butler Florist received a check for wedding floral arrangement services, $1,200.
a) Owner's Equity will increase. b) Accounts Receivable will increase. c) Accounts Payable will increase. d) Accounts Receivable will decrease.
Butler Florist wrote a check for $1,000 to pay the monthly rent.
a) Owner's Equity will decrease. b) Owner's Equity will increase. c) Accounts Payable will increase. d) Accounts Receivable will increase.
Butler Florist wrote a check for $1,000 to pay the monthly rent.
a) Expenses will increase. b) Checks are not the same as Cash in Bank. c) Owner's Equity will increase. d) Cash in Bank will increase.
The business issued a check for $1,000 to Marion Butler for personal use.
a) Cash in Bank will decrease. b) Owner's Equity will increase. c) Profits will decrease. d) Expenses will increase.
The business issued a check for $1,000 to Marion Butler for personal use.
a) Owner's Equity will decrease. b) Profits will decrease. c) Expenses will increase. d) Checks are not the same as Cash in Bank.
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