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Newest Accounting Questions

1. Match the description that best fits each term.Asset Balance Sheet Liability Bookkeeping Depreciation Gross Profit FICO Score
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2. If a column will contain prices of smartphones, which number format should be used?(1 point) Responses accounting accounting
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3. Accounts payable=5967Accounts receivable=8965 Accruals=6167 Additional paid in capital=13277 Cash=? Common Stock=2850 COGS=18249
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   2. asked by 123
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4. Statement of change Equity
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5. What is Accrual basis in accounting
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6. What is accrual basis in accounting
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7. IN THE COURSE OF FINANCIAL ACCOUNTING YOU HAVE THE TOPIC CALLED 'FOREIGN CURRENCY TRANSACTIONS'. In detail and clearly also step
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8. Alabama Auto Parts Company uses the indirect method to prepare the statement of cash flows. Refer to the following income​
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9. On July​ 1, 2025​, Leanne Nguyen Services issued $ 72000 of 15​% bonds that mature in ten years. They were issued at 105.
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10. Which of the following sections of the statement of cash flows includes the issuance of stock and the payment of cash​
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11. Using the indirect method to prepare the statement of cash​ flows, Smith Company sold equipment for $ 42700 ​cash, sold land
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12. When using the indirect method to prepare the statement of cash​ flows, a decrease in in Accrued Liabilities is​ ________.Qu
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13. Which of the following is the typical order of the sections on a statement of cash​ flows?Question content area bottom Part 1
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14. hich of the following sections of the statement of cash flows is presented differently between the direct method and indirect​
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15. Which of the following describes the financing activities section of the statement of cash​ flows?Question content area bottom
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16. One of the purposes of the statement of cash flows is to​ ________.Question content area bottom Part 1 A. determine the
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17. On November​ 1, 2024,​ Nada, Inc. declared a dividend of $ 3.25 per share on common stock.​ Nada, Inc. has 27000 shares of
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18. When 5000 shares of $ 6 stated value common stock is issued at $ 12 per​ share, ________.A. the difference between the issue
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19. Thompson​ Company's common stock carries a par value of $ 1 per share. The company is authorized to issue an additional 12000
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20. Current liabilities generally include all except​ __________.Question content area bottom Part 1 A. Employee Health Insurance
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21. When retiring bonds before​ maturity, debit Bonds Payable for​ ____________.
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22. On January​ 1, 2024, Southeastern Company purchased a building and signed a ten-year mortgage for $ 390000 at 8​%. The note
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23. Which of the following is the proper treatment for a contingency that is probable but the exact amount of which is not​ known?
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24. Cycle​ Sales, Inc. offers warranties on all their bikes. They estimate warranty expense at 3.5​% of sales. At the beginning
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25. Which of the following is NOT a liability that must be​ estimated?Question content area bottom Part 1 A. accounts payable B.
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26. The journal entry for accrued interest on a note payable includes​ ________.Question content area bottom Part 1 A. a debit to
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27. The income statement and additional data of Minerals ​Plus, Inc.​ follows:Minerals Plus, Inc. Income Statement Year Ended
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28. What is the equation to ensure that a balance sheet is correct?(1 point)Responses Assets = Liabilities + Equity Assets =
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29. You collect rents from your tenants. In the following amounts 565, 600, 650, 650, 723, 725, 715, 800 and 900. You get in a
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30. : Purchased 1,000 shares of treasury stock-common at $ 10 per share.Sold 900 shares of treasury stock--common at $ 18 per share.
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31. May ​19: Issued 1,600 shares of ​$2 par value common stock for cash of ​$13.00 per share.Journalize
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32. Accounts payable prior year= 3,176Accounts receivable prior year= 6,886 Accruals prior year= 5,620 Additional paid in capital
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    2. asked by 123
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33. Jim Tree has $3,300 in cash and $3,300 in owners equity. The following transactions take place.You withdraw $500 for yourself,
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34. Requirement 1. Journalize the transactions in the Right Aid Pharmacies general journal. Round all answers to the nearest dollar.
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35. Journalize the transactions in the Right Aid Pharmacies general journal. Round all answers to the nearest dollar. Explanations
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36. Journalize Purchasing equipment costing $270,000 by issuing a nine-year, 7% note payable. The note requires annual principal
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37. Month Quantity (Units) Unit price (R) Total Custom duties (R) Total Freight charges (R)January 45 4 500 9 000 4 500 June 10 4
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38. The company issued a 120,000 7% 10 year bond payable 88 on Jan 1. Interest is paid semiannually on Jan 1Journalize the issuance
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39. Month Quantity (Units) Unit price (R)Total Custom duties (R) Total Freight charges (R) January 45 4 500 9 000 4 500 June 10 4
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40. why do we use the carrying value to find the depreciation amount when using a diminishing method
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41. 3 Furniture and vehicles were purchased on 1 July 20.21 at R80 000 and R300 000 respectively. Depreciation is written off on
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42. 3 Furniture and vehicles were purchased on 1 July 20.21 at R80 000 and R300 000 respectively. Depreciation is written off on
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43. Accounts payable=?Accounts receivable=397,400 Accruals=33,750 Additional paid in capital=541,650 Cash=47,500 Common Stock @ par
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    2. asked by 123
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44. Which of the following is the equation that best describes the formula needed to calculate accounting profit?= total revenues
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    2. asked by Dontillia
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45. On May 31​, 2024​, Stone company discarded equipment costing $ 53,000. Accumulated Depreciation as of December ​31,
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46. Balance as per the bank statement is $ 10 comma 990.bullet Balance as per books is $ 10 comma 400. bullet Check​ #506 for $
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47. Question content area topPart 1 States Company bought equipment that has annual deprecation of $ 12 comma 000 using the
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48. On January​ 1, 2025, a corporation acquired a truck for $ 140 comma 000. Residual value was estimated to be $ 20 comma 000.
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49. At the beginning of​ 2025, Gourmet​ Cupcakes, Inc. has the following ledger​ balances:Accounts Receivable minus $ 45 comma
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50. ABC Company uses the agingminusofminusreceivables method to estimate uncollectible receivables. ABC Company has $ 140 comma 000
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51. Which of the following statements regarding the allowance method of accounting for uncollectible receivables is incorrect​?Que
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52. Alltech Company maintains a separate accounts receivable account for each customer. On June​ 18, Alltech provides $ 6 comma
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53. Question content area topPart 1 Which of the following is included in the category of other​ receivables? Question content
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54. ​_____ is the most liquid asset reported on the balance sheet.
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55. The bookkeeper of Wilson Electric​ Supply, Inc. recorded a $ 1 comma 596 check as $ 15 comma 960 in payment of the current​
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56. ​Roberts, Inc., a​ retailer, accepts payment through credit cards. During​ July, credit card sales amounted to $ 110000.
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57. QUESTION THREE: (20 MARKS)LMN Inc. has the following information for the year: Net Income: R150,000 Preferred Dividends: R20,000
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58. Accounts payable=45,000Accounts receivable=122,400 Accruals=13,500 Additional paid in capital=216,660 Cash=? Common Stock @ par
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    2. asked by 123
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59. Paid the​ six-month, 6​% ​note, plus​ interest, at maturity.The note was 15,000. Journalize
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60. witch one is rightWhich is the best description of a balance sheet?(1 point) Responses a list of outstanding debt compared to
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61. witch one is rightWhat is an income statement? (1 point) Responses a list of all sources of income a list of all sources of
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62. QUESTION TWO (45 MARKS)Norbit Ltd purchased machinery on 1 January 20.10 and the machinery is written off over its estimated
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63. QUESTION ONE (20 MARKS)TechGrow Ltd. is a technology company that has made the following financial transactions in 2023:
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64. Meaning of capital account and it's examples
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65. You collect rents from your tenants in the following amounts: $565, $600, $650, $650, $723, $725, $715, $800 and $900. You get a
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66. An adjusted trial balance of Motor Company as of December​ 31, 2025 is given below.View the adjusted trial balance. Prepare
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67. Accounts payable=45,000Accounts receivable=122,400 Accruals=13,500 Additional paid in capital=216,660 Cash=? Common Stock @ par
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    2. asked by 123
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68. Accounts payable=45,000Accounts receivable=122,400 Accruals=13,500 Additional paid in capital=216,660 Cas=? Common Stock @ par
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    2. asked by 123
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69. what does term of 2/10, n/45 mean in accounting
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70. Accounts payable=45,000Accounts receivable=122,400 Accruals=13,500 Additional paid in capital=216,660 Common Stock @ par
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    2. asked by 123
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71. Cash flow statement
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72. Balance sheet
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73. Income statement
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74. What is the purpose for a profit or loss Summary account and when this account is used
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75. In the accounting process, what is a closing entry, Reversing entry, Post Trial Balance Post Balance Sheet?
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76. Recognize the formula for the following result:This ratio shows the number of times that accounts payable are paid throughout
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77. Income statement with their function description and the formula
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78. Function of income statement and their formulas
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79. Which of the following IS NOT a component of the annual report?Auditor’s report Income statement Accounting policies CFO’s
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80. Which of the following DOES the statement of retained earnings NOT include?Beginning balance Ending balance Capital Dividends
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81. Which of the following is not an expense category presented in income statements?Taxes Costs of goods sold Operating expense
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82. The companies usually create income statements:Monthly and yearly Every day Every six months Every six months
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83. Which of the following is not a part of a balance sheet?Assets Taxes Liabilities Capital
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84. Which of the following IS NOT included in GAAP rules?Revenue recognition Balance sheet item classification New accounting
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85. How do you compute gross profit using FIFO
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86. Cost of Goods Sold $18,800Beginning Merchandise Inventory 520 Ending Merchandise Inventory 470 Select the labels and enter the
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87. Which of the following is true of accrual based accounting?A: it records revenue only when cash is deposited B: it records
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88. Journailize prepaid rent expired 1600; supplies used 150; depreciation on building 900; service revenue that was coll3fted and
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89. Journalize receiving a utility bill ib may for 1200. The amount is due on June 10 and will be paid then
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90. Journalize revenues earned during the month includ3 21300 cash and 11000 on account
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91. Journalize paying 1300 on account
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92. Mark contributed 46000 cash in echang3 for common stock. Journalize the transaction
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93. Prepare journal entry to record the transaction. Ensure to include a narration. Bought fish and sago for K25, as for a visiting
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94. A construction company claiming depreciation on earth moving equipment switched from the diminishing value method to the prime
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95. A company purchased a truck on 1 August 1999 for K380,000. The diminishing value method was used for calculating depreciation
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96. Cash price, bank charges,stamp duty on sale, comprehensive insurance, third party insurance and registration and optional extra,
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97. Pro-Cal imports exclusive financial calculators. They apply the perpetual Inventory system to record inventory transactions. On
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98. Suppose a business purchases equipment for ​$17 comma 000 and depreciates it over 5 years with the​ straight-line method
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99. Suppose a business purchases equipment for ​$17 comma 000 and depreciates it over 5 years with the​ straight-line method
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100. What part of the accounting cycle provides information for investors or the general public?accounting journal trial balance
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