Week 8 journal entries Study guides, Class notes & Summaries

FAC1502 SUMMARY STUDY NOTES. This is an all-inclusive guide to FAC1502 - Financial Accounting Principles, Concepts And Procedures. FINANCIAL PERFORMANCE AND THE EFFECT ON EQUITY The equations: Profit = I –E OE = C + (I-E) –D The Elements of the equation Income  Inflow of economic benefits (not from the owner)  Increase in assets or decrease in liabilities – THEREFORE Expenses  Outflow of economic benefits (not to the owner)  Decrease in assets or increase in liabili...

Sage 50 - Ch. 3 Review Questions with 100% Correct Answers 1. Which one of the statements about the Sage 50 "date" system is false - A) the posting date is the date of the transaction B) the session date may be advanced by more than one week C) the session date is the first posting date for a series of later transactions D) the session date is the date you are recording transactions - Answer- C) the session date is the first posting date for a series of later transactions 2. Sage 50 pr...

Course Project Overview The Course Project consists of 10 Requirements for you to complete. Part 1 of the Course Project is due at the end of Week 4 and Part 2 at the end of Week 6. See the Syllabus section ”Due Dates for Assignments & Exams” for due date information. All of the information you need to complete the Course Project is … in this Workbook. There are eight worksheets in the workbook you will need to complete. A list of July transactions A Chart of Accounts reference sheet A Gra...

Course Project Overview The Course Project consists of 10 Requirements for you to complete. Part 1 of the Course Project is due at the end of Week 4 and Part 2 at the end of Week 6. See the Syllabus section ”Due Dates for Assignments & Exams” for due date information. All of the information you need to complete the Course Project is … in this Workbook. There are eight worksheets in the workbook you will need to complete. A list of July transactions A Chart of Accounts reference sheet A Gra...

Mr. Graham is a specialist who works with students who have special needs. You observe Mr. Graham and he is working with a group of students on the tasks of cutting with scissors, holding a pencil, and writing sentences using the same hand without switching to another hand. Mr. Graham is the A. special education teacher B. physical therapist C. occupational therapist D. motor planning specialist correct answers c Tara is a seventh-grade student classified as having an emotional disturban...

Sage 50 - Ch. 3 Review Questions with 100% Correct Answers 1. Which one of the statements about the Sage 50 "date" system is false - A) the posting date is the date of the transaction B) the session date may be advanced by more than one week C) the session date is the first posting date for a series of later transactions D) the session date is the date you are recording transactions - Answer- C) the session date is the first posting date for a series of later transactions 2. Sage 50 pr...

1. At a plant where car doors are manufactured, all of the following would be classified as direct labor except: a. Machinists. b. Assembly workers. c. Supervisor. d. Painters. ANSWER: c RATIONALE: Maintenance workers, while integral to the manufacturing process as they keep the machinery maintained, are not direct laborers because they do not actually add value to the product. Machinists, assembly workers and painters would all add value to the manufacture of a car door. ...

Sage 50 - Ch. 3 Review Questions with 100% Correct Answers 1. Which one of the statements about the Sage 50 "date" system is false - A) the posting date is the date of the transaction B) the session date may be advanced by more than one week C) the session date is the first posting date for a series of later transactions D) the session date is the date you are recording transactions - Answer- C) the session date is the first posting date for a series of later transactions 2. Sage 50 pr...

Sage 50 - Ch. 3 Review Questions with 100% Correct Answers 1. Which one of the statements about the Sage 50 "date" system is false - A) the posting date is the date of the transaction B) the session date may be advanced by more than one week C) the session date is the first posting date for a series of later transactions D) the session date is the date you are recording transactions - Answer- C) the session date is the first posting date for a series of later transactions 2. Sage 50 pr...

ACCT 4251 - 200+ QuickBooks ProAdvisor Certification Exam Questions & Answers (UPDATED) Assured A+. Exam Duration: 2 to 3 hours Total Sections: 5 Total number of Questions: 75 Minimum Passing Score: 90% in each Section Certification Question (1):- When you send a QuickBooks report to Excel, which features allow you to choose what sections of the report to collapse? Answer: Auto outline. Question (2):- What is the purpose of an Audit Trailreport? Answer: Track any changes and deletions ...