Accounting I (2026/2027) – Final Exam Questions with Step-by-Step Answers | A+ Solutions

Financial Accounting ACC 201 I Final
Exam (2026/2027) | Financial Accounting
Comprehensive Assessment ALREADY
GRADED A+



Equity= - ANSWERS-Cs-D (+) R-E

Common stock-Dividends(+)

Revenues -Expenses



Assets - ANSWERS-what a business owns to help generate revenue



Liabilities - ANSWERS-What a business owes



Equity - ANSWERS-Whats left over for the owners



Contributed Capital - ANSWERS-Money stock holders put into the
business



Retained Earnings - ANSWERS-Cumulative undistributed earnings



Dividends - ANSWERS-Distribution of part of income to share holders

, Revenues - ANSWERS-Inflows of assets



Expenses - ANSWERS-Outflows of assets



Financial Statements - ANSWERS-1. Income Statement

2. Statement of Retained Earnings

3. Balance Sheet

4. Statement of Cash flows

Debits (left) are + - ANSWERS-Assets

Dividends

Expenses



Credits (right) are - - ANSWERS-Assets

Dividens

Expenses



Debits (left) are - - ANSWERS-Liabilities

Revenue

Retained Earnings

Common Stock (Contributed Capital)



Credits (right ) are + - ANSWERS-Liabilities

Revenue