100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
WGU D102 Financial Accounting|PA and OA|Explore New 165 Actual Questions and Answers|100% Correct|2025 Update $29.49
Add to cart

Exam (elaborations)

WGU D102 Financial Accounting|PA and OA|Explore New 165 Actual Questions and Answers|100% Correct|2025 Update

 2 purchases

WGU D102 Financial Accounting|PA and OA|Explore New 165 Actual Questions and Answers|100% Correct|2025 Update

Preview 4 out of 102  pages

  • January 18, 2025
  • 102
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
All documents for this subject (2)
avatar-seller
Wiseman
1/18/25, 6:27 AM Financial Accounting - D102 WGU



WGU D102 Financial Accounting|PA and OA|Explore New 165 Actual Questions and
Answers|100% Correct|2025 Update


Correct

Incorrect


WGU D102


165 correct terms




Questions and answers

,1/18/25, 6:27 AM Financial Accounting - D102 WGU

Chart Of Accounts T-account


Don't know?




2 of 165

Definition



Internal control activities that are designed to detect the occurrence of
errors and fraud



Give this one a go later!



Detective Controls Research




Organizational Structure Independent Checks


Don't know?




3 of 165

Term


On January 1, a company had these assets, liabilities, and equities:
Cash$100
Inventory$140Accounts payable$70
Paid-in capital$150
Retained earnings$20

,1/18/25, 6:27 AM Financial Accounting - D102 WGU

During the year, the company entered into these transactions:
Selling inventory costing $140 for a total of $200; cash of $30 was
received, and the remaining $170 was put on account.
Paying cash for rent of $45.
Paying cash dividends of $30. What is this company's total equity at the
end of the year?


Give this one a go later!



Debits; they represent decreases in equity




1. Credit to interest revenue for $750.
2. Debit to interest revenue for $2,250.
3. Credit to interest revenue for $2,250.
4. Debit to interest revenue for $750.



Correct: 2




Lines of authority and responsibility




1. 130
2. $150
3. $155
4. $210


Correct: 3


Don't know?

, 1/18/25, 6:27 AM Financial Accounting - D102 WGU


4 of 165

Definition



Entries that reduce all nominal (temporary) accounts to a zero balance
at the end of each accounting period, transferring their preclosing
balances to a permanent balance sheet account



Give this one a go later!



Expenses Adjusting Entries




Closing Entries Posting


Don't know?




5 of 165

Definition



A current asset representing money due for services performed or
merchandise sold on credit



Give this one a go later!



Cash Accounts Receivable

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller Wiseman. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $29.49. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

43291 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 15 years now

Start selling
$29.49  2x  sold
  • (0)
Add to cart
Added