A200 Ch3 Quiz Version D 1 On 3 31 10 Lyle Company made the following end of period adjustment increase rent revenue 4 000 and decrease unearned rent 4 000 What kind of adjustment was this a b c d 2 Which of the following accounting statements is are always true a b c d 3 deferred expense accrued expense deferred revenue accrued revenue Revenue increases retained earnings Expenses are the same as liabilities Retained earnings equal cash Both a and c During January Meyer Company increased accounts receivable by 12 800 What can we say about Meyer a b c d The company purchased 12 800 of goods on account The company collected 12 800 that clients owed The company sold 12 800 of goods on account The company issued 12 800 of capital stock A200 Ch3 Quiz Version D Answer Section 1 C 2 A 3 C
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