Intermediate Accounting 1
D103 Units 2–4
Pre-Assessment 2026 |
Study Guide & Practice
Q&A Review and
Rationales
|Graded A+ | Guaranteed
success|
Updated 2026 Questions and Answers
100% Verified Exam Prep and Comprehensive
Rationales
Included
, Insurance Expense Administrative Expense-Income Statement
Salaries-Officers Administrative Expense-Income Statement
Legal and Professional Services Administrative Expense-Income Statement
Rent Revenue other revenues and gains-income statement
Gain on sale of land other revenues and gains- income statement
Interest on bonds and notes other expenses and losses-income statement
Supplies Inventory current asset-balance sheet
Prepaid Insurance current asset-balance sheet
investments available for sale current asset-balance sheet
Equity Investment long-term asset-balance sheet
equipment property, plant, and equipment-balance sheet
cash current asset-balance sheet
Accumulated Depreciation - Equipment property, plant, and equipment-balance sheet
Trademark intangible asset-balance sheet
Accounts Payable current liabilities-balance sheet
Salaries and Wages Payable current liabilities-balance sheet
Unearned Service Revenue current liabilities-balance sheet
bonds payable (due more than a year from now) long-term liabilities-balance sheet
Notes Payable (due more than a year from now) long-term liabilities-balance sheet
common stock Stockholders' Equity, Balance Sheet
retained earnings Stockholder's Equity, Balance Sheet
Gain on Sale of Investments negative for operating activities-statement of cash flows
Accounts Receivable (statement of cash flows) negative for operating activities
Depreciation expense (statement of cash flows) positive for operating activities
sale of investments investing activities
purchase of land investing activities (negative)
D103 Units 2–4
Pre-Assessment 2026 |
Study Guide & Practice
Q&A Review and
Rationales
|Graded A+ | Guaranteed
success|
Updated 2026 Questions and Answers
100% Verified Exam Prep and Comprehensive
Rationales
Included
, Insurance Expense Administrative Expense-Income Statement
Salaries-Officers Administrative Expense-Income Statement
Legal and Professional Services Administrative Expense-Income Statement
Rent Revenue other revenues and gains-income statement
Gain on sale of land other revenues and gains- income statement
Interest on bonds and notes other expenses and losses-income statement
Supplies Inventory current asset-balance sheet
Prepaid Insurance current asset-balance sheet
investments available for sale current asset-balance sheet
Equity Investment long-term asset-balance sheet
equipment property, plant, and equipment-balance sheet
cash current asset-balance sheet
Accumulated Depreciation - Equipment property, plant, and equipment-balance sheet
Trademark intangible asset-balance sheet
Accounts Payable current liabilities-balance sheet
Salaries and Wages Payable current liabilities-balance sheet
Unearned Service Revenue current liabilities-balance sheet
bonds payable (due more than a year from now) long-term liabilities-balance sheet
Notes Payable (due more than a year from now) long-term liabilities-balance sheet
common stock Stockholders' Equity, Balance Sheet
retained earnings Stockholder's Equity, Balance Sheet
Gain on Sale of Investments negative for operating activities-statement of cash flows
Accounts Receivable (statement of cash flows) negative for operating activities
Depreciation expense (statement of cash flows) positive for operating activities
sale of investments investing activities
purchase of land investing activities (negative)
