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D102 Financial Accounting WGU 2024/2025 Exam Questions with 100% Correct Answers | Latest Update $10.99
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D102 Financial Accounting WGU 2024/2025 Exam Questions with 100% Correct Answers | Latest Update What information is contained in a balance sheet? -

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  • March 19, 2025
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  • 2024/2025
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  • D102 Financial Accounting WGU
  • D102 Financial Accounting WGU
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NinjaNerd
D102 Financial Accounting WGU
2024/2025 Exam Questions with 100%
Correct Answers | Latest Update



What information is contained in a balance sheet? - 🧠 ANSWER ✔✔Report

of a company's financial position as of a point in time.

What is an owners' equity item?




Accounts receivable

Loans payable

Capital stock


Cash - 🧠 ANSWER ✔✔Capital Stock


A company ended July with assets of $150,000 and owner's equity of

$60,000.

What is the amount of liabilities at the end of July? - 🧠 ANSWER

✔✔$90,000




COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
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STATEMENT. ALL RIGHTS RESERVED

, What is reported in a multiple-step income statement that is not reported in

a single-step income statement? - 🧠 ANSWER ✔✔Gross Profit


How is gross profit computed? - 🧠 ANSWER ✔✔Sales minus cost of goods

sold.

The following are some accounts from a company's financial statements:

(accounts receivable, cost of goods sold, cash, retained earnings, sales,

inventory, income tax expense, accounts payable)

Which set is a list of all of the items that are used in computing this

company's net income? - 🧠 ANSWER ✔✔Sales, cost of goods sold, and

income tax expense.

What cash flow category contains activities whereby cash is obtained from

or repaid to owners or creditors? - 🧠 ANSWER ✔✔Financing


Here are some financial statement items for the year for a company.

Cash received from customers

Cash received from the sale of land

Cash paid for dividends

Cash paid to employees for wages


COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
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STATEMENT. ALL RIGHTS RESERVED

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