MGT 8803 Exam 1 | Questions and Answers | 2025 Update | 100% Correct-GT., Exams of Business Management and Analysis

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MGT 8803 Exam 1 | Questions and Answers | 2025

Update | 100% Correct-GT.

Sales - ✔✔Revenue (IS) Sales Discounts - ✔✔Contra-Revenue (IS) Sales Returns - ✔✔Contra-Revenue (IS) Discounts on Bonds Payable - ✔✔Contra - Liability (BS) Inventory - ✔✔Current Asset (BS) Wages Payable - ✔✔Current Liability (BS) Common Stock - ✔✔Equity (IS) Accumulated Depreciation - ✔✔Contra - Asset (BS) cash - ✔✔Current Asset (BS) Deferred Revenue - ✔✔Current Liability (BS) Treasury Stock - ✔✔Contra-Equity (BS) Cost of Goods Sold - ✔✔Expense (IS) Interest Expense - ✔✔Expense (IS) Taxes Payable - ✔✔Current Liability (BS) Pre-Paid Expense - ✔✔Current Asset (BS) Dividends Payable - ✔✔Current Liability (BS) Depreciation Expense - ✔✔Expense (IS) Marketable Securities - ✔✔Current Asset (BS) Allowance for Bad Debts - ✔✔Current Contra-Asset (BS) Utilities - ✔✔Expense (IS) Rent - ✔✔Expense (IS) Notes Receivable - ✔✔Asset (BS) Buildings - ✔✔Asset (BS) Land - ✔✔Asset (BS) Bonds Payable - ✔✔Liability (BS) Goodwill - ✔✔Asset (BS) Equipment - ✔✔Asset (BS) Mortgage Payable - ✔✔Liability (BS) Licensing Revenue - ✔✔Revenue (IS) Interest Revenue - ✔✔Revenue (IS) Premium on Bonds Payable - ✔✔Liability (BS) Income Tax Expense - ✔✔Expense (IS) Supplies Expense - ✔✔Expense (IS) Supplies Inventory - ✔✔Current Asset (BS) Advertising Expense - ✔✔Expense (IS) Salaries - ✔✔Expense (IS)

Current Portion of any Long Term Debt - ✔✔Current Liability (BS) Retained Earnings - ✔✔Equity (BS) Wages Expense - ✔✔Expense (IS) Notes Payable - ✔✔Liability (BS) Net Accounts Receivable - ✔✔Current Asset (BS)