Acc 557 week 3 Study guides, Class notes & Summaries

ACC 557 Week 2, Quiz - Graded 100% Latest V Week 2 Quiz 1-  The United States and the international standard-setting environment are primarily driven by meeting the needs of • tax authorities. • investors and creditors. • academic researchers. • central government planners 2-    -  If the retained earnings account increases from the beginning of the year to the end of the year, then • net income is less than dividends. • a net loss is less than dividends. • the company must hav...

ACC 557 Week 4, Quiz - Graded 100% Latest V 1. A correcting entry A). is another name for a closing entry. B). may involve any combination of accounts. C). is a required step in the accounting cycle. D). must involve one balance sheet account and one income statement account 2. A double rule applied to accounts in the ledger during the closing process implies that A). the account balance is not zero. B). a mistake has been made, since double ruling is prescribed. C). the account is a te...

ACC 557 Week 3, Quiz - Graded 100% Latest V 1. Transactions in a journal are recorded in A). alphabetical order. B). dollar amount order. C). chronological order. D). account number order. 2. In the first month of operations, the total of the debit entries to the cash account amounted to $900 and the total of the credit entries to the cash account amounted to $600. The cash account has a(n) A). $300 credit balance. B). $900 debit balance. C). $600 credit balance. D). $300 debit balance...

ACC 557 Week 1, Chapter 1 (E1-4, E1-7, E1-11, P1-2A) Wiley Plus - Graded 100%.docx ACC 557 Week 2 Chapter 2 (E2-6, E2-9, E2-11, P2-2A) Wiley Plus - Graded 100%.docx ACC 557 Week 2 Chapter 3 (E3-6, E3-7, E3-11, P3-2A) Wiley Plus - Graded 100%.docx ACC 557 Week 3 Chapter 4 (E4-1,E4-5, E4-7, E4-13, P4-4A) Wiley Plus - Graded 100%.doc ACC 557 Week 4 Chapter 6 (E6-1,E6-10,E6-14,P6-3A) Wiley Plus - Graded 100%.doc ACC 557 Week 5 Chapter 7 (E7-5 E7-7 E7-14 P7-3A) Wiley Plus - Graded 100%.doc ACC 557 We...

ACC 557 Week 1, Chapter 1 (E1-4, E1-7, E1-11, P1-2A) Wiley Plus - Graded 100%.docx ACC 557 Week 2 Chapter 2 (E2-6, E2-9, E2-11, P2-2A) Wiley Plus - Graded 100%.docx ACC 557 Week 2 Chapter 3 (E3-6, E3-7, E3-11, P3-2A) Wiley Plus - Graded 100%.docx ACC 557 Week 3 Chapter 4 (E4-1,E4-5, E4-7, E4-13, P4-4A) Wiley Plus - Graded 100%.doc ACC 557 Week 4 Chapter 6 (E6-1,E6-10,E6-14,P6-3A) Wiley Plus - Graded 100%.doc ACC 557 Week 5 Chapter 7 (E7-5 E7-7 E7-14 P7-3A) Wiley Plus - Graded 100%.doc ACC 557 We...

ACC 557 Week 10 Assignment 3 You Are an Investment A ACC 557 WK 10 Assignment 3 - You Are an Investment Analyst As the representative from your accounting firm or practice, you are in charge of stock market analysis that will be presented to clients as part of professional consultation process. One of your high-profile clients is trying to determine the possible investment potential between two companies. However, before you can recommend investments to clients, you need to familiarize yourse...

ACC 557 Week 1, Chapter 1 (E1-4, E1-7, E1-11, P1-2A) Wiley Plus - Graded 100%.docx ACC 557 Week 2 Chapter 2 (E2-6, E2-9, E2-11, P2-2A) Wiley Plus - Graded 100%.docx ACC 557 Week 2 Chapter 3 (E3-6, E3-7, E3-11, P3-2A) Wiley Plus - Graded 100%.docx ACC 557 Week 3 Chapter 4 (E4-1,E4-5, E4-7, E4-13, P4-4A) Wiley Plus - Graded 100%.doc ACC 557 Week 4 Chapter 6 (E6-1,E6-10,E6-14,P6-3A) Wiley Plus - Graded 100%.doc ACC 557 Week 5 Chapter 7 (E7-5 E7-7 E7-14 P7-3A) Wiley Plus - Graded 100%.doc ACC 557 We...

ACC 557 Week 5, Quiz - Graded 100% Latest V 1. Cost of goods sold is determined only at the end of the accounting period in A). neither a perpetual nor a periodic inventory system. B). a perpetual inventory system. C). a periodic inventory system. D). both a perpetual and a periodic inventory system 2. A sales invoice is a source document that A). provides evidence of incurred operating expenses. B). provides evidence of credit sales. C). serves only as a customer receipt. D). provides...

ACC 557 Week 11, Quiz - Graded 100% Latest V 1. Parker Hardware Store had net credit sales of $8,000,000 and cost of goods sold of $5,000,000 for the year. The Accounts Receivable balances at the beginning and end of the year were $600,000 and $700,000, respectively. The receivables turnover was A). 11.4 times. B). 12.3 times. C). 4.6 times. D). 7.7 times. 2. Which one of the following is not a tool in financial statement analysis? A). Ratio analysis B). Horizontal analysis C). Vertical...

ACC 557 Week 6, Quiz - Graded 100% Latest V 1. A bank statement A). is a bill from the bank for services rendered. B). is a credit reference letter written by the depositor's bank. C). shows the activity which increased or decreased the depositor's account balance. D). lets a depositor know the financial position of the bank as of a certain date. 2. The principles of internal control activities are used in the A). internationally but not in the U.S. B). in the U.S. and Canada but not g...