ACC 280 Week 1 DQ 3 What do you think of when you hear the word debit? What do you think of when you hear the word credit?

ACC 280 Week 1 DQ 3 What do you think of when you hear the word debit? What do you think of when you hear the word credit? Why does your bank statement show a credit for an increase in your cash balance? Is an increase to your bank statement a debit or a credit? Read more about ACC 280 Week 1 DQ 3 What do you think of when you hear the word debit? What do you think of when you hear the word credit?[…]

ACC 280 Week 1 DQ 4 Who are the different users of accounting information? What are the differences between managerial and financial accounting?

ACC 280 Week 1 DQ 4 Who are the different users of accounting information?  Who are the different users of accounting information?  What are the differences between managerial and financial accounting?  What is the role of the CPA and how does it differ from other accountants?  What is the value of the accounting function in Read more about ACC 280 Week 1 DQ 4 Who are the different users of accounting information? What are the differences between managerial and financial accounting?[…]

ACC 280 Week 1 DQ 1 What are the four basic financial statements? What do the different financial statements tell you about a company?

ACC 280 Week 1 DQ 1 What are the four basic financial statements? What do the different financial statements tell you about a company? What are the four basic financial statements? What do the different financial statements tell you about a company? Which financial statement is the most useful? Why? What types of information is Read more about ACC 280 Week 1 DQ 1 What are the four basic financial statements? What do the different financial statements tell you about a company?[…]

Prepare year-end adjustments for the following transactions. Omit explanations – MGMT 30A Midterm 1 Practice Exam

Prepare year-end adjustments for the following transactions. Omit explanations – MGMT 30A Midterm 1 Practice Exam Accrued interest on notes receivable is $30. $1,000 of unearned service revenue has been recognized. Three years’ rent, totaling $45,000, was paid in advance at the beginning of the year. Services totaling $2,900 had been performed but not yet Read more about Prepare year-end adjustments for the following transactions. Omit explanations – MGMT 30A Midterm 1 Practice Exam[…]

Sunkan Company prepares monthly financial statements – MGMT 30A Midterm 1 Practice Exam

Sunkan Company prepares monthly financial statements – MGMT 30A Midterm 1 Practice Exam Sunkan Company prepares monthly financial statements. Below are listed some selected accounts and their balances on the September 30 trial balance before any adjustments have been made for the month of September. SUNKAN COMPANY Trial Balance (Selected Accounts) September 30, 2014 ________________________________________________________________ Read more about Sunkan Company prepares monthly financial statements – MGMT 30A Midterm 1 Practice Exam[…]

Prepare the required end-of-period adjusting entries for each independent case – MGMT 30A Midterm 1 Practice Exam

MGMT 30A Midterm 1 Practice Exam –  Prepare the required end-of-period adjusting entries for each independent case Prepare the required end-of-period adjusting entries for each independent case listed below. Case 1 The Thoma Company began the year with a $3,000 balance in the Supplies account. During the year, $8,500 of additional supplies were purchased. A Read more about Prepare the required end-of-period adjusting entries for each independent case – MGMT 30A Midterm 1 Practice Exam[…]

The Golden Petting Zoo operates a drive-through tourist attraction in Colorado – MGMT 30A Midterm 1 Practice Exam

MGMT 30A Midterm 1 Practice Exam – The Golden Petting Zoo operates a drive-through tourist attraction in Colorado The Golden Petting Zoo operates a drive-through tourist attraction in Colorado. The company adjusts its accounts at the end of each month. The selected accounts appearing below reflect balances after adjusting entries were prepared on April 30. Read more about The Golden Petting Zoo operates a drive-through tourist attraction in Colorado – MGMT 30A Midterm 1 Practice Exam[…]

Ledger accounts are used by the Heartland Race Track – MGMT 30A Midterm 1 Practice Exam

MGMT 30A Midterm 1 Practice Exam –  Ledger accounts are used by the Heartland Race Track  The following ledger accounts are used by the Heartland Race Track: Accounts Receivable Prepaid Advertising Prepaid Rent Unearned Sales Revenue Sales Revenue Advertising Expense Rent Expense Instructions: For each of the following transactions below, prepare the journal entry (if Read more about Ledger accounts are used by the Heartland Race Track – MGMT 30A Midterm 1 Practice Exam[…]