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3 Cards in this Set

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Or Copy & paste below link in your Brower
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ACC 291 FINAL EXAM (30 Questions – Multiple Choice)
1) Hahn Company uses the percentage of sales method for recording bad debts expense. For the year, cash sales are $300,000 and credit sales are $1,200,000. Management estimates that 1% is the sales percentage to use. What adjusting entry will Hahn Company make to record the bad debts expense?
A.
Bad Debts Expense ................ ................ $15,000
Allowances for Doubtful Accounts ................ ................ $15,000
B.
Bad Debts Expense ................ ................ $12,000
Allowances for Doubtful Accounts ................ ................ $12,000
C.
Bad Debts Expense ................ ................ $12,000
Accounts Receivable ................ ................ ................. $12,000
D.
Bad Debts Expense ................ ................ $15,000
Accounts Receivable ................ ................ ................. $15,000
2) Using the percentage of receivables method for recording bad debts expense, estimated uncollectible accounts are $15,000. If the balance of the Allowance for Doubtful Accounts is $3,000 credit before adjustment, what is the amount of bad debts expense for that period?
A. $15,000
B. $12,000
C. $18,000
D. $8,000
3) Intangible assets
• should be reported under the heading Property, Plant, and Equipment
• shoul


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ACC 291 FINAL EXAM (30 Questions – Multiple Choice)
1) Hahn Company uses the percentage of sales method for recording bad debts expense. For the year, cash sales are $300,000 and credit sales are $1,200,000. Management estimates that 1% is the sales percentage to use. What adjusting entry will Hahn Company make to record the bad debts expense?
A.
Bad Debts Expense ................ ................ $15,000
Allowances for Doubtful Accounts ................ ................ $15,000
B.
Bad Debts Expense ................ ................ $12,000
Allowances for Doubtful Accounts ................ ................ $12,000
C.
Bad Debts Expense ................ ................ $12,000
Accounts Receivable ................ ................ ................. $12,000
D.
Bad Debts Expense ................ ................ $15,000
Accounts Receivable ................ ................ ................. $15,000
2) Using the percentage of receivables method for recording bad debts expense, estimated uncollectible accounts are $15,000. If the balance of the Allowance for Doubtful Accounts is $3,000 credit before adjustment, what is the amount of bad debts expense for that period?
A. $15,000
B. $12,000
C. $18,000
D. $8,000
3) Intangible assets
• should be reported under the heading Property, Plant, and Equipment
• shoul


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Or Copy & paste below link in your Brower
http://www.justassignment.com/ACC-291-Principles-of-Accounting-II-Final-Exam-30-MCQs-112.htm
Or
Visit : www.JustAssignment.com
E-Mail us at Justassignment@gmail.com)



ACC 291 FINAL EXAM (30 Questions – Multiple Choice)
1) Hahn Company uses the percentage of sales method for recording bad debts expense. For the year, cash sales are $300,000 and credit sales are $1,200,000. Management estimates that 1% is the sales percentage to use. What adjusting entry will Hahn Company make to record the bad debts expense?
A.
Bad Debts Expense ................ ................ $15,000
Allowances for Doubtful Accounts ................ ................ $15,000
B.
Bad Debts Expense ................ ................ $12,000
Allowances for Doubtful Accounts ................ ................ $12,000
C.
Bad Debts Expense ................ ................ $12,000
Accounts Receivable ................ ................ ................. $12,000
D.
Bad Debts Expense ................ ................ $15,000
Accounts Receivable ................ ................ ................. $15,000
2) Using the percentage of receivables method for recording bad debts expense, estimated uncollectible accounts are $15,000. If the balance of the Allowance for Doubtful Accounts is $3,000 credit before adjustment, what is the amount of bad debts expense for that period?
A. $15,000
B. $12,000
C. $18,000
D. $8,000
3) Intangible assets
• should be reported under the heading Property, Plant, and Equipment
• shoul


DOWNLOAD



Or Copy & paste below link in your Brower
http://www.justassignment.com/ACC-291-Principles-of-Accounting-II-Final-Exam-30-MCQs-112.htm
Or
Visit : www.JustAssignment.com
E-Mail us at Justassignment@gmail.com)



ACC 291 FINAL EXAM (30 Questions – Multiple Choice)
1) Hahn Company uses the percentage of sales method for recording bad debts expense. For the year, cash sales are $300,000 and credit sales are $1,200,000. Management estimates that 1% is the sales percentage to use. What adjusting entry will Hahn Company make to record the bad debts expense?
A.
Bad Debts Expense ................ ................ $15,000
Allowances for Doubtful Accounts ................ ................ $15,000
B.
Bad Debts Expense ................ ................ $12,000
Allowances for Doubtful Accounts ................ ................ $12,000
C.
Bad Debts Expense ................ ................ $12,000
Accounts Receivable ................ ................ ................. $12,000
D.
Bad Debts Expense ................ ................ $15,000
Accounts Receivable ................ ................ ................. $15,000
2) Using the percentage of receivables method for recording bad debts expense, estimated uncollectible accounts are $15,000. If the balance of the Allowance for Doubtful Accounts is $3,000 credit before adjustment, what is the amount of bad debts expense for that period?
A. $15,000
B. $12,000
C. $18,000
D. $8,000
3) Intangible assets
• should be reported under the heading Property, Plant, and Equipment
• shoul


DOWNLOAD



Or Copy & paste below link in your Brower
http://www.justassignment.com/ACC-291-Principles-of-Accounting-II-Final-Exam-30-MCQs-112.htm
Or
Visit : www.JustAssignment.com
E-Mail us at Justassignment@gmail.com)



ACC 291 FINAL EXAM (30 Questions – Multiple Choice)
1) Hahn Company uses the percentage of sales method for recording bad debts expense. For the year, cash sales are $300,000 and credit sales are $1,200,000. Management estimates that 1% is the sales percentage to use. What adjusting entry will Hahn Company make to record the bad debts expense?
A.
Bad Debts Expense ................ ................ $15,000
Allowances for Doubtful Accounts ................ ................ $15,000
B.
Bad Debts Expense ................ ................ $12,000
Allowances for Doubtful Accounts ................ ................ $12,000
C.
Bad Debts Expense ................ ................ $12,000
Accounts Receivable ................ ................ ................. $12,000
D.
Bad Debts Expense ................ ................ $15,000
Accounts Receivable ................ ................ ................. $15,000
2) Using the percentage of receivables method for recording bad debts expense, estimated uncollectible accounts are $15,000. If the balance of the Allowance for Doubtful Accounts is $3,000 credit before adjustment, what is the amount of bad debts expense for that period?
A. $15,000
B. $12,000
C. $18,000
D. $8,000
3) Intangible assets
• should be reported under the heading Property, Plant, and Equipment
• shoul


DOWNLOAD



Or Copy & paste below link in your Brower
http://www.justassignment.com/ACC-291-Principles-of-Accounting-II-Final-Exam-30-MCQs-112.htm
Or
Visit : www.JustAssignment.com
E-Mail us at Justassignment@gmail.com)



ACC 291 FINAL EXAM (30 Questions – Multiple Choice)
1) Hahn Company uses the percentage of sales method for recording bad debts expense. For the year, cash sales are $300,000 and credit sales are $1,200,000. Management estimates that 1% is the sales percentage to use. What adjusting entry will Hahn Company make to record the bad debts expense?
A.
Bad Debts Expense ................ ................ $15,000
Allowances for Doubtful Accounts ................ ................ $15,000
B.
Bad Debts Expense ................ ................ $12,000
Allowances for Doubtful Accounts ................ ................ $12,000
C.
Bad Debts Expense ................ ................ $12,000
Accounts Receivable ................ ................ ................. $12,000
D.
Bad Debts Expense ................ ................ $15,000
Accounts Receivable ................ ................ ................. $15,000
2) Using the percentage of receivables method for recording bad debts expense, estimated uncollectible accounts are $15,000. If the balance of the Allowance for Doubtful Accounts is $3,000 credit before adjustment, what is the amount of bad debts expense for that period?
A. $15,000
B. $12,000
C. $18,000
D. $8,000
3) Intangible assets
• should be reported under the heading Property, Plant, and Equipment
• shoul