Retained Study guides, Class notes & Summaries

What is a general ledger? - A general ledger account is an account or record used to sort, store and summarize a company's transactions. asset accounts such as Cash, Accounts Receivable, Inventory, Investments, Land, and Equipment liability accounts including Notes Payable, Accounts Payable, Accrued Expenses Payable, and Customer Deposits stockholders' equity accounts such as Common Stock, Retained Earnings, Treasury Stock, and Accumulated Other Comprehensive Income What is the differen...

Sage Intacct Implementation Exam Questions and 100% Correct Answers 2024 General Ledger: What rolls an account's ending balance, for each reporting period into the retained earnings accounts, effectively making the balance forward for the account zero? - Correct Answer Non-closing accounts General Ledger: What GL configuration option prevents users from entering a journal entry or other transaction that does not balance for the current dimension? - Correct Answer Enforce JE balancing Gen...

Wall Street Prep The Premium Package Review: Accounting & Financial Statement Analysis Exam Latest 2023/2024 Questions and Answers (Score: 95%, 38 correct out of 40). Score: 95%, 38 correct out of 40 Question 1 Assume US GAAP to answer this question. In 2017, $2 million in wages were earned and no cash wages were paid. In 2018, $8 million in wages were earned and $7 million in cash wages were paid. Cash wages were used to first pay wages earned in 2017 with the remainder used to pay wages...

Chapter 3—Consolidated Statements: Subsequent to Acquisition MULTIPLE CHOICE Scenario 3-1 Pedro purchased 100% of the common stock of the Sanburn Company on January 1, 20X1, for $500,000. On that date, the stockholders' equity of Sanburn Company was $380,000. On the purchase date, inventory of Sanburn Company, which was sold during 20X1, was understated by $20,000. Any remaining excess of cost over book value is attributable to patent with a 20-year life. The reported income and divi...

Dynatrace Associate Cert Version2 2022-2023 Questions and Answers What is SaaS in Dynatrace Software as a Service; Dynatrace provides the service and you just use it. What are the benefits of SaaS -No local installation -No worries about hardware, backup & data storage -No Monitoring/operator required What are the Agent Ports for SaaS 443 SaaS Cluster updates every? automatically 2 weeks One Agent updates every? optionally 4 weeks VM monitoring requires what type of activate for Dynatra...

Chapter 02 : Review of the Accounting Process True / False Questions 1. Owners' equity can be expressed as assets minus liabilities. True False 2. Debits increase asset accounts and decrease liability accounts. True False 3. Balance sheet accounts are referred to as temporary accounts because their balances are always changing. True False 4. After an unadjusted trial balance is prepared, the next step in the accounting processing cycle is the preparation of financial ...

PA State NHA practice exam 100% Verified 2023 PA State NHA practice exam 100% Verified2023 A long term care facility may order up to a _______ day supply of medications from a contract pharmacy when a selected pharmacy is not able to supply the ordered meds. 5 7 4 6 7 the medical director of a long term care facility can be employed as which of the following a medical director must be employed as full time a medical director must be employed as part time a medical director ma...

Well-structured LPL4801 Assignment 1 (ANSWERS) Semester 2 2023 - DISTINCTION GUARANTEED. (DETAILED ANSWERS - DISTINCTION GUARANTEED!). Patricia concludes a written agreement for the purchase of a free standing Jacuzzi from Luxury Pools (Pty) Ltd on 1 June at her home. The purchase price of the Jacuzzi is R52,000 which is payable in twelve equal monthly instalments. The agreement also makes provision for Patricia to pay interest at 18% per annum to Luxury Pools (Pty) Ltd in respect of the deferre...

Test Bank for Financial Accounting; Tools for Business Decision Making 10th Edition by Kimmel Jerry J. Weygandt Jill E. Mitchell, All Chapters Covered, Complete Guide A+. CHAPTER 1 INTRODUCTION TO FINANCIAL STATEMENTS CHAPTER LEARNING OBJECTIVES 1. Identify the forms of business organization and the uses of accounting information. A sole proprietorship is a business owned by one person. A partnership is a business owned by two or more people associated as partners. A corporation is a separ...

Balance Sheet - CORRECT ANSWER a financial statement that reports a company's assets, liabilities, and shareholder equity at a specific point in time; Assets = Liabilities + Shareholder's Equity Income Statement - CORRECT ANSWER AKA profit and loss statement; primarily focuses on the company's revenues and expenses during a particular period; Net Income = (Total Revenue + Gains) - (Total Expenses + Losses) Statement of Retained Earnings - CORRECT ANSWER AKA Statement of Equ...