) Which financial statement is employed to determine cash generated from operations?
2) In terms of sequence, of what order must the 4 basic financial statements be ready?
3) In classifying transactions, which with the following applies in regard to assets?
4) An increase in an amount account must be
5) ABC Corporation issues 100 shares of $1 par common stock at $5 per share, which of the following could be the correct journal entry?
6) In the first month of operations, the total from the debit entries for the cash account amounted to $1,400 and the total in the credit entries to the cash account amounted to $600. The cash account has a
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7) Which ledger contains control accounts?
8) Smith is often a customer of ABC Corporation. Smith typically purchases merchandise from ABC on account. Which ledger would ABC use to hold track with the details of Smith’s account?
9) Under the cash foundation accounting,
10) Under the accrual basis of accounting,
11) The Vintage Laundry Company purchased $6,500 price of laundry supplies on June 2 and recorded the acquisition as an asset. On June 30, an inventory of the laundry supplies indicated only $2,000 available. The adjusting entry that ought to be made by the organization on June 30 is
12) Greese Company purchased office supplies costing $4,000 and debited Office Supplies for your full amount. At the end with the accounting period, an actual count of buy office supplies over revealed $1,100 still available. The appropriate adjusting journal admittance to be made at the end of the period would be
13) Based on the account balance below, what is the total in the debit and credit columns from the adjusted trial balance?
14) An adjusted trial balance
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