WGU D102

WGU D102 Pre Assessment Questions & Answers What information is contained in a balance sheet? -Report of a company's 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 ...

WGU D102 Financial Accounting Questions & Answers What information is contained in a balance sheet? -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 -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 si...

WGU D102 Financial Accounting Pre Assessment What information is contained in a balance sheet? Report of a company's financial position during a period of time. Report of a company's operating performance as of a point in time. Report of a company's financial position as of a point in time. Report of a company's operating performance during a period of time. -Report of a company's financial position as of a point in time. What is an owners' equity item? Loans payable Accounts rec...

What information is contained in a balance sheet? -Report of a company's 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....

What information is contained in a balance sheet? -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 - 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...

What information is contained in a balance sheet? Report of a company's financial position during a period of time. Report of a company's operating performance as of a point in time. Report of a company's financial position as of a point in time. Report of a company's operating performance during a period of time. - Report of a company's financial position as of a point in time. What is an owners' equity item? Loans payable Accounts receivable Capital stock Cash - Capital stock ...