Which
of the following situations would result in an increase in income
under the accrual method of accounting, but would NOT result in an
increase in income under the cash-basis method of accounting?().
A: Purchase of supplies for cash
B: Performance of services on account
C: Use of supplies purchased earlier
D: Receipt of cash for services that were performed earlier on account
of the following situations would result in an increase in income
under the accrual method of accounting, but would NOT result in an
increase in income under the cash-basis method of accounting?().
A: Purchase of supplies for cash
B: Performance of services on account
C: Use of supplies purchased earlier
D: Receipt of cash for services that were performed earlier on account
举一反三
- Which<br/>of the following situations would result in an increase in income<br/>under the accrual method of accounting, but would NOT result in an<br/>increase in income under the cash-basis method of accounting? ( ) A: Purchase<br/>of supplies for cash B: Use<br/>of supplies purchased earlier C: Performance<br/>of services on account D: Receipt of cash for services that were performed earlier on account
- Which of the following transactions would be recorded under accrual accounting but NOT under cash-basis accounting?
- Which of the following transactions would be recorded under accrual-basis accounting but NOT under cash-basis accounting? A: Borrowing money from the bank. B: Collecting cash from customers. C: Issuing stock for cash. D: Purchasing of inventory on account.
- Your company purchased art supplies for $1,400 cash and office supplies for $700 cash from Rocklin Supply Company. The accounting clerk recorded the transaction as: Dr. Art Supplies $1,400 Cr. Cash $2,100
- The cash basis of accounting commonly results in financial statements<br/>that are less comparable from period to period than the accrual basis<br/>of accounting ____ A: True B: False