Study guides, Class notes & Summaries

ACCT-212 Week 3 Discussion: Reasons Why Accountants Use The Accrual Method Why do accountants use accrual accounting instead of the cash basis of accounting? The accrual basis of accounting furn ishes an enhanced representation of a company's profits during an accounting period. This is because revenues are reported on the income statement when they are earned, which frequently occurs before the cash is received from the customers. Also, expenses are reported on the income statement when they m...

ACCT212 - Week 3 – Homework – Graded A+ Golden Eagle Company prepares monthly financial statements for its bank. The November 30 adjusted trial balance includes the following account informatio n: Supplies $2,000 Prepaid Insurance 8,000 Salaries Payable $11,000 Deferred Revenue 3,000 The following information is known for the month of December: 1. Purchases of supplies during December total $4,500. Supplies on hand at the end of December equal $3,500. 2. No insurance payments are made in Dec...

ACCT-212 Week 2 Quiz – 100% Correct Answers – Graded An A+ (TCO 2) When a business purchases land on account both assets and stockholders' equity are increased. assets are decreased and stockholder's equity is increased. both assets and liabilities are increased. assets are increased and liabilities are decreased. Flag this Question (TCO 2) Which of the following transactions will increase one asset and decrease another asset? The purchase of office supplies on account. The performance of ...

Grade Details - All Questions ACCOUNT 212 WEEK 2 HOMEWORK – WITH 100% CORRECT ANSWERS - - assets are decreased and net income is decreased. assets are decreased and liabilities are increased. liabilities are decreased and net income is increased. assets are decreased and liabilities are decreased. Question 4. (TCO 2) The left side of a T-account is always the Student Answer: increase side. decrease side. debit side. credit side. Question 5. (TCO 2) An account is increased by a credit and has a...

ACCT-212 Week 1 Quiz – With Answers ( 100% Correct) – Download To Score An A+ Financial Accounting 212 Week 1 Quiz 1. The term GAAP stands for? Answer: Generally Accepted Accounting Principles 2. Financial accounting serves which primary functions? Answer: Measures business activities Communicated business decisions on behalf of interested parties 3. Which of the following represents an obligation to the company? Answer: Liabilities 4. Which body has the primary responsibilities for the esta...

ACCT 212 Week 1 Homework (Collection) – Download For Revision Longhorn Corporation provides low-cost food delivery services to senior citizens. At the end of the year on December 31, 2021, the comp any reports the following amounts: Cash $ 1,400 Service revenue $71,200 Equipment 20,500 Cost of goods sold (food 54,100 expense) Accounts payable 2,700 Buildings 23,000 Delivery expense 3,300 Supplies 1,700 Salaries expense 6,200 Salaries payable 700 In addition, the company had common stock of $23...

MIS589_Week_1_quiz (TCO A) Which of the following is not true about a server? Stores data and software that can be accessed by the client May be a personal computer or a mainframe on the network In client or server computing, they work together over the network with client computers to support the business application. Stores documents and graphics that can be accessed from any web browser Can only perform one function on a network (TCO A) A backbone network is a high spe...

NR 228-Nutrition Exam 1 Summer 2022/2023 Food preference Those foods we choose to eat when all foods are available at the same time and in the same quantity. Determined by genetic and environmental effects. Food choice This concerns the specific foods that are convenient to choose when we are actually ready to eat; rarely are all our preferred foods available at the same time to satisfy our preferences. These are restricted by convenience. Food liking Considers what food we really like t...

NR 228-Nutrition Exam 1 Summer 2022/2023 Food preference Those foods we choose to eat when all foods are available at the same time and in the same quantity. Determined by genetic and environmental effects. Food choice This concerns the specific foods that are convenient to choose when we are actually ready to eat; rarely are all our preferred foods available at the same time to satisfy our preferences. These are restricted by convenience. Food liking Considers what food we really like t...

HIT 205 Module 8 Coding Application Final Exam 2024 Verified 100%