INTUIT ACADEMY BOOKKEEPING CERTIFICATION EXAM 2024 ACTUAL EXAM COMPLETE ACCURATE EXAM QUESTIONS WITH DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS) /ALREADY GRADED A+

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INTUIT ACADEMY BOOKKEEPING CERTIFICATION
EXAM 2024 ACTUAL EXAM COMPLETE ACCURATE
EXAM QUESTIONS WITH DETAILED VERIFIED
ANSWERS (100% CORRECT ANSWERS) /ALREADY
GRADED A+
What are the 5 Account Types? - (answers)- Assets

- Liabilities

- Equity

- Revenue

- Expenses



What is the accounting formula? - (answers)Assets = Liabilities + Equity +
Revenue - Expenses



What does DEA/LER stand for? - (answers)- Debit

Expenses and Assets

- Credit

Liabilities

Equity

Revenue



What are the 6 steps of the Accounting-Cycle? - (answers)- Collect and Analyze
Transactions

- Record/Post transactions to the ledger

- Prepare and unadjusted trial balance

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- Prepare adjusting entries at the end of the period

- Prepare an adjusted trial balance

- Prepare financial statements



What are the 4 Types of financial statements? - (answers)- The income statement

- The balance sheet

- The statement of equity

- The statement of cash flow



What are the 4 types of accounting adjustments? - (answers)- Deferrals

- Accruals

- Missing Transactions

- Tax Adjustments



What tasks would a bookkeeper do? - (answers)- Handle bank feeds and
reconciles bank accounts, managing accounts receivable/payable, and record
financial transactions



Mary Smith is the owner and operator of Smith Construction. At the end of the
company's accounting period, December 31, 2020, Smith Construction has assets
totaling $760,000 and liabilities totaling $240,000.



Use the accounting equation to calculate what Mary's Owner Equity would be as of
December 31, 2020. - (answers)- $520,000