100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
D102 Financial Accounting WGU Exam/52 Q’s and A’s $8.49   Add to cart
Quickly navigate to
Preview
  2.  
  3. D102 Financial Accounting WGU
  4.  
  5. D102 Financial Accounting WGU

Exam (elaborations)

D102 Financial Accounting WGU Exam/52 Q’s and A’s
 11 views  0 purchase
  • Course
  • D102 Financial Accounting WGU
  • Institution
  • D102 Financial Accounting WGU

D102 Financial Accounting WGU Exam/52 Q’s and A’s

Preview 1 out of 4  pages

Document information

  • October 9, 2024
  • 4
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • d102 financial accounting wgu exam52 qs and as

Written for

  • D102 Financial Accounting WGU
  • D102 Financial Accounting WGU

Seller

avatar-seller
Nursephil2023

Reviews received

Content preview

D102 Financial Accounting WGU
Exam/52 Q’s and A’s
What information is contained in a balance sheet? - -Financial position as of
a point in time.

- What is an owners' equity item? - -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? - -$90,000

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

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

- Which set is a list of all items used in computing net income? - -Sales, cost
of goods sold, and income tax expense.

- What cash flow category contains activities involving owners or creditors? -
-Financing

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

- What items are used in computing the company's ending cash balance for
the year? - -Cash balance at the beginning of the year, cash flow from
operating activities, cash flow from investing activities, and cash flow from
financing activities.

- How is revenue typically recorded with debits and credits? - -As a credit,
representing an increase in equity.

- Proper way to record an increase in an asset account and an increase in an
equity account - -Asset - debit; equity - credit

- How are expenses recorded with debits and credits? - -Debit, representing
an increase in assets

- Journal entry for inventory purchase: $5,000 total, $1,000 cash - -Credit to
accounts payable for $4,000

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller Nursephil2023. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $8.49. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

67866 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling

Recently viewed by you

Exam (elaborations) ·

(0)

Chemistry Straighterline Q&A
$8.49
  • (0)
  Add to cart