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
CAPSTONE ACCOUNTING REVIEW || QUESTIONS AND 100% VERIFIED ANSWERS. $10.79
Add to cart
Quickly navigate to
Preview
  2.  
  3. CAPSTONE ACCOUNTING
  4.  
  5. CAPSTONE ACCOUNTING

Exam (elaborations)

CAPSTONE ACCOUNTING REVIEW || QUESTIONS AND 100% VERIFIED ANSWERS.
 0 purchase
  • Course
  • CAPSTONE ACCOUNTING
  • Institution
  • CAPSTONE ACCOUNTING

what is the name of the book of original entry which combines into one journal, the features of the two column general journal, and a special journal correct answers combination journal the ___________ is a formal financial statement which summarizes all of the changes in owners equity during a ...

[Show more]

Preview 2 out of 6  pages

Document information

  • October 17, 2024
  • 6
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • what is the name of the book of original entry whi

Written for

  • CAPSTONE ACCOUNTING
  • CAPSTONE ACCOUNTING

Seller

avatar-seller
FullyFocus

Reviews received

Content preview

CAPSTONE ACCOUNTING REVIEW || QUESTIONS
AND 100% VERIFIED ANSWERS.
what is the name of the book of original entry which combines into one journal, the features of
the two column general journal, and a special journal correct answers combination journal

the ___________ is a formal financial statement which summarizes all of the changes in owners
equity during a specified period of time correct answers statement of net worth

the __________ is the date on which a payment is due on a promissory note correct answers
maturity date

________=coins, currency, checks, credit card receipts and money orders received from others,
as well as money deposited in the bank correct answers cash

John is paid an annual salary of 22,030 and overtime at a rate of 1 1/2 times his regular hourly
rate for any hours worked in excess of 40 hours. What is his overtime correct answers 15.89

Which of the following express the major items in the balance sheet as a percent of the total
assets and compare these with previous fiscal periods? correct answers Balance Sheet Common-
Size Statements/Percentage Method

________________ are a type of asset that will be consumed as they are used. correct answers
Supplies

What is the name of the error in accounting when the amount written is with the digits in the
incorrect order? Example 56 is written as 65. correct answers Transposition Error

A separate owner's equity account in which withdrawals of cash or other assets by the owner for
personal use are recorded, is called which of the following? correct answers Drawing account

This term provides a description of the particular type of asset, liability, owner's equity, revenue,
or expense correct answers account title

The estimated determinable life of a fixed asset is the correct answers useful life.

to enter a cash sale involving sales tax, the journal entry would be correct answers Cr. sales/Dr.
cash/Cr. sales tax payable

_________ is a form of compensation usually for skilled and unskilled labor. correct answers
Wage

A business or individual to whom a debt is owed is called correct answers a creditor

, Which of the following is a temporary owner's equity contra sales account used to record credit
given to a customer for shortages or damaged goods? correct answers Sales returns and
allowances

A(n) _________________ is an expense incurred in operating a business during an accounting
period, but not yet paid. correct answers accrued expense

Which of the following measures the average time required to sell inventory? correct answers
Age of Inventory

A device for recording the changes (increases or decreases) in the fundamental accounting
elements. correct answers account

The journal entry to establish a petty cash fund would be correct answers Debit petty cash/Credit
cash

A _____________________ is a written order by a buyer for merchandise or other property
specified in the purchase requisition correct answers purchase order

The closing entry for professional fees would be correct answers Dr. professional fees/Cr.
income summary

The signature of the payee or other holder placed on the back of a check or other negotiable
instrument is called correct answers endorsement.

What is the abbreviation for a debit? correct answers Dr.

Gross pay - payroll deductions = correct answers Net Pay

The amount originally paid for a depreciable asset is the correct answers original cost basis.

Which term was defined as follows?

Accounts utilized to accumulated income, expenses and owner's withdrawals for one accounting
period only. correct answers Temporary owner's equity accounts

A tax levied on the earning of individuals and businesses by federal, state, and local governments
is called correct answers income tax.

What is a book of original entry used for the recording of sales of merchandise on credit only?
correct answers Sales journal

When a payment is made by the business for an asset purchased on account, which accounts are
affected correct answers Dr. accounts payable/Cr. cash

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 FullyFocus. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $10.79. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

69411 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 15 years now

Start selling
$10.79
  • (0)
Add to cart
Added