2025 PACE EXAM 161 QUESTIONS
WITH COMPLETE SOLUTIONS!!
1 of
161
Term
which bank reconciliation items result in an adjusting journal entry on
company's books
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income statement balance sheet
interest rate statement of cash flows
face value statement of stockholders equity
maturity date
, interest received
book error
income service charge
statement NSF
EFT
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2 of 161
Term
how is treasury stock reported
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IPO ...
DR treasury
DR expense CR Contingent liability stock
CR cash
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3 of 161
Term
difference with note and account payable
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, (cost-residual)*actual/estimated note payable have interest
make sure they actually get
error when you put
their money, bad debt expense
comma or decimal in the
falls into this
wrong spot
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4 of 161
Term
what are 3 key pieces of info that are stated on the bond
certificate
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interest
rate face profit before tax*tax rate
value
maturity
date
interest
received book
error
note payable have interest
service charge
nsf
eft
Don't know?
, 5 of 161
WITH COMPLETE SOLUTIONS!!
1 of
161
Term
which bank reconciliation items result in an adjusting journal entry on
company's books
Give this one a try later!
income statement balance sheet
interest rate statement of cash flows
face value statement of stockholders equity
maturity date
, interest received
book error
income service charge
statement NSF
EFT
Don't know?
2 of 161
Term
how is treasury stock reported
Give this one a try later!
IPO ...
DR treasury
DR expense CR Contingent liability stock
CR cash
Don't know?
3 of 161
Term
difference with note and account payable
Give this one a try later!
, (cost-residual)*actual/estimated note payable have interest
make sure they actually get
error when you put
their money, bad debt expense
comma or decimal in the
falls into this
wrong spot
Don't know?
4 of 161
Term
what are 3 key pieces of info that are stated on the bond
certificate
Give this one a try later!
interest
rate face profit before tax*tax rate
value
maturity
date
interest
received book
error
note payable have interest
service charge
nsf
eft
Don't know?
, 5 of 161
