Accounting balance sheet 101
[DOCX File]Intermediate Accounting II, ACCT-2154
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Requirement 2. balance sheet Accounts. Cash. Accounts receivable. 1/1 Bal.01/1 Bal.0. 1/1100,0002,400 1/41/1012,0006,0001/26. 1/1530,0006,0001/20. 1/2210,00015,0001/24
[DOC File]SUMMARY OF ACCOUNTING BASICS - Washburn University
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term liability Credit Balance sheet Work In Process Current asset Debit Balance sheet The Basics. 1. Accounting Equation: Assets = Liabilities + Owner’s Equity. 2. T Account: Account Title. Left Side. debit Right Side. credit 3. Rules of Debit and Credit: Balance Sheet Accounts ASSETS.
[DOC File]Chapter 9 The Role of Accounting in Business
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87. When a business needs a more sophisticated balance sheet than the one created for its first accounting records, it creates a _____ balance sheet to list assets and liabilities in separate categories. a. classified. b. two item. c. long-term. d. extended (a; Hard) 88. A classified balance sheet lists assets in order of _____. a. useful life. b.
ACCOUNTING
15-4 Preparing a Balance Sheet. Automated Accounting: Generating Automated Accounting Financial Statements. Chapter 16 – Recording Adjusting and Closing Entries for a Corporation. 16-1 Recording Adjusting Entries. 16-2 Recording Closing Entries for Income Statement Accounts. 16-3 Preparing a Post-Closing Trial Balance. Weeks 23 and 24 – 095 ...
[DOC File]PERFORMING COMPILATION AND REVIEW ENGAGEMENTS, RECENT ...
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I (We) have reviewed the accompanying balance sheet of XYZ Company as of December 31, 20XX, and the related statements of income, retained earnings, and cash flows for the year then ended. A review includes primarily applying analytical procedures to management’s (owners’) financial data and making inquiries of company management (owners).
[DOC File]ACCOUNTING 101
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ACCOUNTING 101. MONOPOLY GAME PRACTICE SET. YOUR NAME COMPANY. OBJECTIVES. The student will apply their knowledge concerning the accounting cycle (a 2 month fiscal year) to transactions in a corporation using the Monopoly game. ... Statement of Retained Earnings and Balance Sheet. 10. Roll 10 times again for November. 11. Make note of your cash ...
[DOC File]accountingreviewmaterials « Be a CPA with or without a ...
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Pr. 5-101—Balance sheet format. The following balance sheet has been submitted to you by an inexperienced bookkeeper. List your suggestions for improvements in the format of the balance sheet. Consider both terminology deficiencies as well as classification inaccuracies. Densen Industries, Inc. Balance Sheet. For the Period Ended 12/31/07. Assets
[DOC File]COMPREHENSIVE PROBLEM 1, PERIOD II:
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Balance Credit. Balance Cash 101 130,650 Office Supplies 142 100 Food Supplies 144 8,000 Prepaid Insurance 145 7,500 Fishing Boats 181 60,000 Accumulated Depreciation--Fishing Boats 181.1 1,000 Accounts Payable 202 66,500 Wages Payable 219 500 Bob Night, Capital 311 138,250 206,250 206,250 Assets Revenues
[DOC File]Accounting: “About Accounting” Homework
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What categories of assets and liabilities appear on a typical classified balance sheet? How is unearned revenue classified on the balance sheet? What is the purpose of a worksheet? Problems: List the following steps of the accounting cycle in the correct order: ... 101 CASH $19,000 126 SUPPLIES 13,000. 128 PREPAID INSURANCE 3,000. 167 EQUIPMENT ...
[DOC File]FORT VALLEY STATE UNIVERSITY
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(Accounting Concentration) Balance Sheet. Department of Business Administration ... I 3 ≥ D CORE 160 Composition II and Oral Communication 3 ≥ D CORE 120 Critical Thinking 2 ≥ D MATH 101/MATH 110/MATH 120 (satisfies CORE 131 requirement) *****Math 100 = 0 credits***** 3 ≥ D CORE 201 Introduction to Business and Entrepreneurship 3 ≥ D ...
[DOC File]Exam Item 19-1 (True or False) - CPA Diary
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Under the modified accrual basis of accounting, revenues are recognized in the period a. when the relevant service is done. ... Government-wide financial statements include a a. balance sheet, an income statement, and a statement of cash flows. ... Issued general obligation bonds, par value of $5,000, at 101 (101% of par value) to finance ...
[DOC File]CHAPTER 2: ACCOUNTING FOR TRANSACTIONS
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Balance Sheet Describes a company’s financial position (types and amounts of assets, liabilities, and equity) at a point in time. Examples of accounts on form: assets like cash, accounts receivable, supplies, equipment; liabilities like accounts payable; equity like common stock and retained earnings
[DOC File]ACCOUNTING 101
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ACCOUNTING 101. MONOPOLY GAME PRACTICE SET. YOUR NAME COMPANY. please Note this is a work in progress so any corrections, improvements, suggestions would be greatly appreciated. ... Statement of Retained Earnings and Balance Sheet for the months of Oct and Nov. Note: For this practice set only, the company has only two months in its year.
[DOC File]Accounting Final Exam Review
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Accounting 101 Final Exam Review. January 2015. What is depreciable cost? ... What accounts are listed on the balance sheet? ... What is posting defined as? What information is a journal used to supply? What makes the basic accounting equation stay in balance? Which side of the account has the normal balance? What is the formula to figure out ...
[DOC File]BASICS OF FARM & SMALL BUSINESS ACCOUNTING
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About what % of farmer use the “Cash Method” of Accounting? a) 65% b) 75% c) 85% d) 95%. The major difference between Cash and Accrual Method is that Accrual has . what additional component? a) weights & bushels b) inventory c) balance sheet d) all of the above. BASICS OF FARM & SMALL BUSINESS ACCOUNTING ( Worksheet continued)
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