WSU Accounting 230 Exam 1 Questions With 100% Correct Answers 2024

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WSU Accounting 230 Exam 1 Questions With 100% Correct Answers 2024

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Institution WSU Accounting 230

Course WSU Accounting 230

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WSU Accounting 230 Exam 1 Questions With 100% Correct Answers

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WSU Accounting 230 Exam 1 Questions
With 100% Correct Answers

Whatiareioperatingiactivities?i-iCorrectiAnswer-
Transactionsirelateditoitheiprimaryioperationsiofitheicompany;iprovidin
giproductsitoicustomers,iutilities,itaxes,iadvertising,iwages,irent,iandim
aintenance.

Howitoicalculateiaccountsipayable?i-iCorrectiAnswer-
Borrowedifromitheibanki-iPaidibackitoibank

Howitoicalculateinetiincomei-iCorrectiAnswer-Revenuei-
iExpensesi=iNetiIncome

Howidoiyouicalculateitheiretainediearningsistatement?i-
iCorrectiAnswer-Revenuei-iexpensesi-idividendsi=iretainediearnings.

Ifiretainediearningsidecreasediforitheiyear,iandinoidividendsiwereipaid,i
whatihappens?i-iCorrectiAnswer-
Expensesiforitheiyeariexceededirevenues

Whatiisitheiaccountingiequation?i-iCorrectiAnswer-
Assetsi=iLiabilitiesi+iStockholder'siEquity

, Whatiisitheiexpandediaccountingiequation?i-iCorrectiAnswer-
Assetsi=iLiabilitiesi+iRevenuesi-iExpensesi-iDividends

TiofiF:iCommonistockigetiaddeditoiassetsi-iCorrectiAnswer-True

WhatiareitheicomponentsiofitheiStatementiofiStockholder'siEquity?i-
iCorrectiAnswer-CommoniStocki+iRetainediEarningsi(NetiIncomei-

iDividends)i=iTotaliStockholder'siEquity

WhatiareitheicomponentsiofitheiBalanceiSheet?i-iCorrectiAnswer-
Assetsi=iLiabilitiesi+iStockholder'siEquity

WhatiareitheicomponentsiofitheiStatementiofiCashiFlows?i-
iCorrectiAnswer-Cashifromioperating,iinvesting,iandifinancingiactivities.

Whatiareiexamplesiofiassetiaccounts?i-iCorrectiAnswer--Cash
-Pettyicash
-AccountsiReceivable
-NotesiReceivablei
-Suppliesi
-Inventory
-Pre-paidiAdvertising
-Pre-paidiRent

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Uploaded on: November 2, 2024
Number of pages: 9
Written in: 2024/2025
Type: Exam (elaborations)
Contains: Questions & answers

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WSU Accounting 230 Exam 1 Questions With 100% Correct Answers 2024

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