Fob shipping cost Study guides, Class notes & Summaries
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WGU D102 Financial Accounting Exam Questions with Verified Answers (Graded A)
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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 
 
What is reported in a multiple-step income statement that is not reported in a single-step income state...
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ACC 101 Exam 3 || with Complete Solutions.
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Inventories Effect correct answers both the balance sheet and the income statement 
 
Legal Title correct answers The factor which determines wether or not goods should be included in a physical count of inventory is 
 
If goods in transit are shipped FOB destination correct answers the seller has legal title to the goods until they are delivered 
 
Which of the following should be included in the physical inventory of a company correct answers Goods held on consignment from another company 
 
F...
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SCMN 3710 Exam 3 Strickland Questions and Answers Rated A+
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SCMN 3710 Exam 3 Strickland 
Questions and Answers Rated A+ 
 
Which mode of transportation is #1 in the U.S. in value of goods, tons, and ton-miles shipped? 
Truck 
 
What is a TL package carrier? Carriers handle single shipments that use the full cubic 
capacity of the trailer or exceed 15,000 pounds. They provide direct service, picking up the load 
 
at the origin point and delivering it directly to the destination without stopping at freight- 
handling terminals. 
 
What is an LTL package c...
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ACCOUNTING 211 Liberty University -acct 211 questions with correct answers rated A+
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acct 211The accounting equation can be restated as: Assets + Liabilities = Equity. - correct answer False 
 
From an accounting perspective, an event is a happening that affects the accounting equation but cannot be measured. - correct answer False 
 
The balance column in a ledger account is: - correct answer A column for showing the balance of the account after each entry is recorded. 
 
If a company reporting on a calendar year basis paid $18,000 cash on January 1 for one year of rent in adva...
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acct 211 questions with answers graded A+
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acct 211 questions with answers graded A+The accounting equation can be restated as: Assets + Liabilities = Equity. - correct answer False 
 
From an accounting perspective, an event is a happening that affects the accounting equation but cannot be measured. - correct answer False 
 
The balance column in a ledger account is: - correct answer A column for showing the balance of the account after each entry is recorded. 
 
If a company reporting on a calendar year basis paid $18,000 cash on Janua...
Too much month left at the end of the money?
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AC Exam #2 (Ch. 6)with verified solutions (already graded A+)
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Why is inventory reported as a current asset? 
Inventory is reported as a current asset because it will be converted into cash within a year of the balance sheet date. 
 
 
 
Cost of Goods Sold on the income statement reports the.... 
cost times the quantity of goods sold during the period 
 
 
 
Which of these will require a credit to the inventory account in a perpetual inventory system? 
 
- Purchasing inventory on account 
- Purchasing inventory for cash 
- Paying cash for inventory previous...
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ACC 101 CHAPER 6-10 FINAL EXAM STUDY GUIDE || with Errorless Solutions 100%.
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Merchandise inventory correct answers Goods a company intends to sell. 
 
LIFO (last in, first out) correct answers Assumes last items purchased are the first sold. 
 
FIFO (First In, First Out): correct answers Assumes first items purchased are the first sold. (Chronological) 
 
Specific Identification correct answers Tracks each item's cost individually. 
 
Weighted Average Cost Method: correct answers Averages cost of goods available for sale for cost assignment. 
 
FOB shipping point correc...
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CPCU 530 Practice Exam Questions and Answers
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CPCU 530 Practice Exam 
Questions and Answers 
 
common stock - Answer-An ownership interest in a corp that gives stockholders certain 
rights and privileges, such as the right to vote on important matters and to receive 
dividends 
preferred stock - Answer-Stock that is generally nonvoting but that has priority over 
common stock, usually regarding dividends and capital distribution if the corporation 
ends its existence 
Par value - Answer-An arbitrary dollar value that an organization assigns...
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CPCU 530 Practice Exam Questions and Answers
- Exam (elaborations) • 52 pages • 2023
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CPCU 530 Practice Exam 
Questions and Answers 
 
common stock - Answer-An ownership interest in a corp that gives stockholders certain 
rights and privileges, such as the right to vote on important matters and to receive 
dividends 
preferred stock - Answer-Stock that is generally nonvoting but that has priority over 
common stock, usually regarding dividends and capital distribution if the corporation 
ends its existence 
Par value - Answer-An arbitrary dollar value that an organization assigns...
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ACCT 229 - Exam 2 Latest 2023 Already Graded A
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ACCT 229 - Exam 2 Latest 2023 Already Graded A Inventory Goods held for resale. Reported as a current asset on the balance sheet. 
COGS The amount we paid for goods we have sold. Reported as an expense on the income statement. 
2 methods for accounting for inventories: Perpetual and Periodic methods 
Perpetual Method This method for accounting for inventories is used in companies with low volume, high priced goods. It keeps a running total of the inventory on hand and recognizes a loss. 
Periodi...
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