Acct 212 week 1 quiz Study guides, Class notes & Summaries

ACCT 212 WEEK 1 QUIZ ACCT 212 WEEK 1 QUIZ 1. At the end of the current accounting period, account balances were as follows: Cash, $28,000; Accounts Receivable,$42,000; Common Stock, $19,000;Retained Earnings, $13,000.Liabilities for the period were: a. $57,000 b. $70,000 c. $38,000 d. $51,000 2. Revenues were $144,000, Expenses were $140,000, and cash dividends declared and paid were $3,000. What were the net income and the charge in retained earnings for the period? a. Net income was $4,000; ...

ACCT 212 Week 1 Quiz.

ACCT 212 Week 1 Quiz.

At the end current accounting period, account balances were as follows. Cash $28,000, Account Receivable, $44,000, Common Stock, $19,000, Retained Earnings $12 000. Liabilities for the period were: Question: Revenues were $147,000, expenses were $142,000, and cash dividends … and paid were $3,000. What were the next income and the change in the … earnings for the period? Question: Golden Company had the following accounts and balances at the end of the year. What are total assets at the end ...

ACCT 212 Week 8 Quiz (Summer 2021) Question: The following is an example of: Question: The times interest earned ratio is classified as an indicator of a company’s: Question: A par tial balance sheet for Captain D’s Sportswear is shown below……. The current ratio is: (Round your answer to 2 decimal places.) Question: Excerpts from Stealth Company’s December 31, 2021 and 2020, financial statements are presented below: …… Stealth Company’s 2021 receivables turnover ratio is: Quest...

Question: At the end current accounting period, account balances were as follows. Cash $28,000, Account Receivable, $44,000, Common Stock, $19,000, Retained Earnings $12 000. Liabilities for the period were: Question: Revenues were $147,000, expenses were $142,000, and cash dividends … and paid were $3,000. What were the next income and the change in the … earnings for the period? Question: Golden Company had the following accounts and balances at the end of the year. What are total assets...

. Question: The term GAAP stands for: 2. Question: Financial accounting serves which primary function(s)? a. Measures business activities. b. Communicates business activities to interested parties. c. Makes business decisions on behalf of interested parties. 3. Question: Which of the following represents an obligation of the company? 4. Question: Which body has the primary responsibility for the establishment of Generally Accepted Accounting Principles? 5. Question: At the end of ...

ACCT 212 Week 5 Quiz (Summer 2021) 1. Question: Which cost flow assumption generally results in the highest … amount of net income in periods of rising inventory costs? 2. Question: Which cost flow assumption must … for financial reporting if it is also used for tax reporting? 3. Question: Under a perpetual inventory system: 4. Question: Dunbar sold 600 units of inventory during the month. Ending inventory assuming LIFO would … : (Do not round your intermediate calculations. Round your ans...

1. Question: The term GAAP stands for: 2. Question: Financial accounting serves which primary function(s)? – Measures business – Communicates business activities to interested – Makes business decisions on behalf of interested 3. Question: Which of the following represents an obligation of the company?

Question: The term GAAP stands for: 2. Question: Financial accounting serves which primary function(s)? a. Measures business activities. b. Communicates business activities to interested parties. c. Makes business decisions on behalf of interested parties. 3. Question: Which of the following represents an obligation of the company?