1) ________ refers to the continual process of generating cash through sales, preserving cash by taking...
1) ________ refers to the continual process of generating cash through sales, preserving cash by taking advantage of credit offered by suppliers, and utilizing cash by investing in inventory and offering credit to customers.
A) The cash flow cycle
B) The working capital cycle
C) The accounting equation
D) The dual-entry accounting system
4) The process whereby every transaction or event has at least two accounting entries is known as:
A) the accounting equation.
B) ledger accounting.
C) double-entry bookkeeping.
D) the cash equation.
6) Your new firm borrows $10,000. This would be considered a/an ________ activity.
A) investing
B) financing
C) operations
D) ill advised
Homework Answers
1) The correct answer is Cash flow cycle.
Cash flow cycle measure how the company is converting sales into cash and the number of days it is taking to pay the suppliers and also the management of inventory.
4) The process by which every transaction or an event is recorded has at least two accounting entries is known as double entry book keeping.
6) The firm borrows $10000; it would be an inflow of cash and considered a financing activity.
Add Answer to:
1) ________ refers to the continual process of generating cash
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only the final answers plz 1. Which definition below best describes financial accounting? A. Process of...
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Can you plese help me with my review sorry for posong so many attachments but this...
Can you plese help me with my review sorry for posong so many
attachments but this is my last answer. Thank you
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You are operating your accounting firm. Your first client had
the following transactions in April 20x7:
Borrowed $10,000 from the bank.
Purchased $2,250 of computer equipment for cash.
Paid $750 cash for this month's rent.
Purchased $1,500 of office supplies on credit. It is expected
that these supplies will last for 3 months.
Billed $500 to customers for services rendered during
April.
Paid cash for the $1,500 balance owed to the vendor from...
1-7. Which of the following statements about the trail balance is NOT true? Debit balances must equal credit balances It includes only assets, liability and equity accounts c) It is useful for detecting errors it is an important step in the accounting cycle. 1-B. An example of a contra asset account is a) Accumulated depreciation b) Depreciation expense e) Discount on Bonds Payable. d) Prepaid expenses 1-9. Which of the following would cause the trial balance to be out of...
3) Cash Service Revenue Salaries Expense Accounts Payable C Retained Earnings Utilities Expense Accounts Receivable Common Stock Dividends How many of the above accounts have a normal debit balance? A) Six. C) Four D) Seven. 214) For a journal entry with only two lines, the following entry is valid: Increase in Revenue, Decrease in Expense A) True B) False 215) For a journal entry with only two lines, the following entry is valid Increase in Expense, Increase in Dividends. B)...
only the final answers plz
1. Which definition below best describes financial accounting? A. Process of measuring income taxes owed to the government. B. System of maintaining communication with a company's customers and suppliers. C. Procedures designed to enhance the company's image to potential investors. D. Measuring business activities and communicating them to external parties. 2. Liabilities can be best described as: A. The amount of expenses over the past year. B. The amount expected to be distributed to stockholders....
Can you plese help me with my review sorry for posong so many
attachments but this is my last answer. Thank you
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For each transaction, (1) analyze the transaction using the accounting equation, (2) record the transaction in journal entry form, and (3) post the entry using T-accounts to represent ledger accounts. Use the following (partial) chart of accounts-account numbers in parentheses: Cash (101) Accounts Receivable (106); Office Supplies (124); Trucks (153); Equipment (167); Accounts Payable (201); Unearned Landscaping Revenue (236): Common Stock (307); Dividends (319); Landscaping Revenue (403); Wages Expense (601), and Landscaping Expense (696). a. On May 15, DeShawn Tyler...
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