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LATEST WGU D102 FINANCIAL ACCOUNTING QUESTIONS WITH 100% CORRECT ANSWERS $15.49
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LATEST WGU D102 FINANCIAL ACCOUNTING QUESTIONS WITH 100% CORRECT ANSWERS
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  • WGU D102 FINANCIAL ACCOUNTING

What information is contained in a balance sheet? - CORRECT ANSWER Report of a company's financial position as of a point in time. What is an owners' equity item? Accounts receivable Loans payable Capital stock Cash - CORRECT ANSWER Capital Stock A company ended July w...

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Document information

  • August 10, 2024
  • 12
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • wgu d102
  • latest wgu d102 financial accounting que
  • wgu d102 financial accounting
  • latest wgu d102 financial accounting que
  • latest wgu d102 financial accounting que

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  • WGU D102 FINANCIAL ACCOUNTING
  • WGU D102 FINANCIAL ACCOUNTING

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LATEST WGU D102 FINANCIAL ACCOUNTING
2024-2025 QUESTIONS WITH 100% CORRECT
ANSWERS
What information is contained in a balance sheet? - CORRECT ANSWER Report of a
company's financial position as of a point in time.



What is an owners' equity item?



Accounts receivable

Loans payable

Capital stock

Cash - CORRECT ANSWER Capital Stock



A company ended July with assets of $150,000 and owner's equity of $60,000.

What is the amount of liabilities at the end of July? - CORRECT ANSWER $90,000



What is reported in a multiple-step income statement that is not reported in a single-
step income statement? - CORRECT ANSWER Gross Profit



How is gross profit computed? - CORRECT ANSWER Sales minus cost of goods sold.



The following are some accounts from a company's financial statements:

(accounts receivable, cost of goods sold, cash, retained earnings, sales, inventory,
income tax expense, accounts payable)

, LATEST WGU D102 FINANCIAL ACCOUNTING
2024-2025 QUESTIONS WITH 100% CORRECT
ANSWERS
Which set is a list of all of the items that are used in computing this company's net
income? - CORRECT ANSWER Sales, cost of goods sold, and income tax expense.



What cash flow category contains activities whereby cash is obtained from or repaid to
owners or creditors? - CORRECT ANSWER Financing



Here are some financial statement items for the year for a company.

Cash received from customers

Cash received from the sale of land

Cash paid for dividends

Cash paid to employees for wages

Cash paid to purchase a new building

Cash paid for rent

Cash received as new investment from owners

Which set of items is a list of items that are used in computing the company's financing
cash flow for the year? - CORRECT ANSWER Cash paid for dividends and cash
received as new investment from owners.



Here are some financial statement items for a company.

Net income

Cash flow from financing activities

Cash balance at the beginning of the year

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