Homework Answers
1. Work sheet
2. Trial Balance
3. General Journal
4. Accounting cycle
5. Posting
6. Transposition
7. Residual Value
8. Adjsuting
9. Book value
10. Cross referencing
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Match Terms
PART IV TABLE COMPLETION (10 Points) Match the following terms with the definitions or...
1. Match the accounting terms with the corresponding definitions. (Click the icon to view the accounting...
1. Match the accounting terms with the corresponding definitions. (Click the icon to view the accounting terms.) a. (2) b. A detailed record of all increases and decreases that have occurred in a particular asset, liability, or equity during a period The record holding all the accounts of a business, the changes in those accounts, and their balances A journal entry that is characterized by having multiple debits and/or multiple credits A record of transactions in date order Left side...
QUESTION 15 Match the terms with the definitions. The period of time required to purchase supplies...
QUESTION 15 Match the terms with the definitions. The period of time required to purchase supplies and a. account form of balance sheet services and convert them back into cash. b. accounting cycle Prepared after posting the closing entries to prove the c classified balance sheet equality of the debit and credit balances in the general d. closing process ledger accounts e. current assets A balance sheet with separate categories for current assets; property, plant, and equipment, current f. current...
tlons: Match each of the statements below with its proper terms may not be used Some...
tlons: Match each of the statements below with its proper terms may not be used Some A. account B. assets C. balance of the account D. chart of accounts E. credits F. debits G. double-entry accounting H. drawing O. liabilities P. materiality concept Q. objectivity concept R. owner's equity S. posting T. revenues U. slide V. T account W. transposition X. trial balance J. horizontal analysis K. journal L. journal entry M. jounalizing Y. two-column journal Z uneaned revenue AA....
Homework: Chapter 2, Part 1 Score: 0 of 2 pts E2-10 (book/static) 7 of 10 (2...
Homework: Chapter 2, Part 1 Score: 0 of 2 pts E2-10 (book/static) 7 of 10 (2 complete) HW Score: 14.2 Que est Match the accounting terms with the corresponding definitions. (Click the icon to view the accounting terms.) More Info A detailed record of asset, liability, or eq The record holding a v a. ar 1. Posting b. and their balances c. A journal entry that d. A record of transacti e. Left side of a T-acco 3. Debit 4....
True or False questions for Accounting ACCT-1001 Financial Accounting Part 1 Chapter 2 Analyzing and Recording...
True or False questions for Accounting
ACCT-1001 Financial Accounting Part 1 Chapter 2 Analyzing and Recording Transactions Module #2 - Chapter #2 Assignment 2C-2020 True / False The steps covered in the Accounting Cycle in this module were adjustments, prepare adjusted trial balance and prepare financial statements The account is a detailed record of the increases and decreases in a specific asset, liability or equity item. A ledger is a group of all the accounts used by a business and...
L. (10 Points) Match each of the following terms with the appropriate definitions. A. Principles of...
L. (10 Points) Match each of the following terms with the appropriate definitions. A. Principles of internal control B. Cash Over and Short C. Net method D. Voucher system E. Bank reconciliation F. Liquidity G. Receiving report H. Days' sales uncollectecd I. Purchase order J. Gross method 1. 2. 3. A report explaining any differences between the checking account balance according to the depositor's records and the balance reported on the bank statement. A set of procedures and approvals designed...
Problem IV. (10 points possible). Below is a list of various governmental accounting terms and concepts. Match the...
Problem IV. (10 points possible). Below is a list of various governmental accounting terms and concepts. Match the letter next to the choices in the space provided below. There is only one (1) choice per item. a. Debt Services Fund b. Intra-period Equity c. Encumbrances d. Imposed Non-exchange Revenue c. Fiscal Accountability f. Internal Services Fund g. Enterprise Fund h. Agency Fund i. Statement of Revenues, Expenditures and Changes in Fund Balance j. Statement of Net Position k. General Revenues...
1. Match the following definitions w the following definitions with terms 1 through 8. Place the...
1. Match the following definitions w the following definitions with terms 1 through 8. Place the letter that identifies the best definition in the blank space next to the term. (8 points) Going-concern principle 2 Owner withdrawal Revenues Statement of changes in equity. Net assets Cost principle Objectivity principle Assets 1. Assets an owner takes from the company for personal use 2. A principle that requires the information in financial statements to be supported by independent unbiased evidence 3. A...
1.(10 Points) Match each of the following terms a through j with the appropriate definition A....
1.(10 Points) Match each of the following terms a through j with the appropriate definition A. Specific identification method B. Days' sales in inventory C. Conservatism constraint D. Inventory turnover E. Retail inventory method F. Interim statements G. Net realizable value H. LIFO method I. Weighted average inventory methocd J. FIFO method The accounting constraint that aims to select the less optimistic estimate when two or more estimates are about equally likely. ー1 . 2. The expected sales price of...
QUESTION 20 After the closing entries have been posted, which of the following accounts would still...
QUESTION 20 After the closing entries have been posted, which of the following accounts would still have a balance? a. Salaries Expense b. Miscellaneous Revemes Oc Supplies Expense d. Accumulated Depreciation Equipment QUESTION 21 After the closing entries are journalized and posted, which of the following accounts would NOT have a balance? a. Service Revenue b. Cash c. Accounts Payable d. Office Supplies QUESTION 22 After the accounts are closed and the journal entries have been posted, which of the...
1. Match the accounting terms with the corresponding definitions. (Click the icon to view the accounting terms.) a. (2) b. A detailed record of all increases and decreases that have occurred in a particular asset, liability, or equity during a period The record holding all the accounts of a business, the changes in those accounts, and their balances A journal entry that is characterized by having multiple debits and/or multiple credits A record of transactions in date order Left side...
QUESTION 15 Match the terms with the definitions. The period of time required to purchase supplies and a. account form of balance sheet services and convert them back into cash. b. accounting cycle Prepared after posting the closing entries to prove the c classified balance sheet equality of the debit and credit balances in the general d. closing process ledger accounts e. current assets A balance sheet with separate categories for current assets; property, plant, and equipment, current f. current...
tlons: Match each of the statements below with its proper terms may not be used Some A. account B. assets C. balance of the account D. chart of accounts E. credits F. debits G. double-entry accounting H. drawing O. liabilities P. materiality concept Q. objectivity concept R. owner's equity S. posting T. revenues U. slide V. T account W. transposition X. trial balance J. horizontal analysis K. journal L. journal entry M. jounalizing Y. two-column journal Z uneaned revenue AA....
Homework: Chapter 2, Part 1 Score: 0 of 2 pts E2-10 (book/static) 7 of 10 (2 complete) HW Score: 14.2 Que est Match the accounting terms with the corresponding definitions. (Click the icon to view the accounting terms.) More Info A detailed record of asset, liability, or eq The record holding a v a. ar 1. Posting b. and their balances c. A journal entry that d. A record of transacti e. Left side of a T-acco 3. Debit 4....
True or False questions for Accounting
ACCT-1001 Financial Accounting Part 1 Chapter 2 Analyzing and Recording Transactions Module #2 - Chapter #2 Assignment 2C-2020 True / False The steps covered in the Accounting Cycle in this module were adjustments, prepare adjusted trial balance and prepare financial statements The account is a detailed record of the increases and decreases in a specific asset, liability or equity item. A ledger is a group of all the accounts used by a business and...
L. (10 Points) Match each of the following terms with the appropriate definitions. A. Principles of internal control B. Cash Over and Short C. Net method D. Voucher system E. Bank reconciliation F. Liquidity G. Receiving report H. Days' sales uncollectecd I. Purchase order J. Gross method 1. 2. 3. A report explaining any differences between the checking account balance according to the depositor's records and the balance reported on the bank statement. A set of procedures and approvals designed...
Problem IV. (10 points possible). Below is a list of various governmental accounting terms and concepts. Match the letter next to the choices in the space provided below. There is only one (1) choice per item. a. Debt Services Fund b. Intra-period Equity c. Encumbrances d. Imposed Non-exchange Revenue c. Fiscal Accountability f. Internal Services Fund g. Enterprise Fund h. Agency Fund i. Statement of Revenues, Expenditures and Changes in Fund Balance j. Statement of Net Position k. General Revenues...
1. Match the following definitions w the following definitions with terms 1 through 8. Place the letter that identifies the best definition in the blank space next to the term. (8 points) Going-concern principle 2 Owner withdrawal Revenues Statement of changes in equity. Net assets Cost principle Objectivity principle Assets 1. Assets an owner takes from the company for personal use 2. A principle that requires the information in financial statements to be supported by independent unbiased evidence 3. A...
1.(10 Points) Match each of the following terms a through j with the appropriate definition A. Specific identification method B. Days' sales in inventory C. Conservatism constraint D. Inventory turnover E. Retail inventory method F. Interim statements G. Net realizable value H. LIFO method I. Weighted average inventory methocd J. FIFO method The accounting constraint that aims to select the less optimistic estimate when two or more estimates are about equally likely. ー1 . 2. The expected sales price of...
QUESTION 20 After the closing entries have been posted, which of the following accounts would still have a balance? a. Salaries Expense b. Miscellaneous Revemes Oc Supplies Expense d. Accumulated Depreciation Equipment QUESTION 21 After the closing entries are journalized and posted, which of the following accounts would NOT have a balance? a. Service Revenue b. Cash c. Accounts Payable d. Office Supplies QUESTION 22 After the accounts are closed and the journal entries have been posted, which of the...
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