Accounts rec Study guides, Class notes & Summaries

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COLORADO CONTRACTS AND REGULATIONS EXAM REVIEW QUESTIONS AND ANSWERS, GRADED A+/ VERIFIED. Can the Real Estate Commission dictate the ethical standards of licensees? - -NO If payment is made from the recovery fund for a judgment against a license - -The licensee automatically loses his or her license In order to get a real estate license, you must do all of the following EXCEPT... 1. Pass the Real Estate Commission Exam 2. Take a total of 160 hours of study from a qualified school 3. ...

SUA- Sales and Cash Receipts Latest 2023 100% Pass Revenue cycle customer purchase order approve credit bill of lading sales invoice pack and ship order review and approve documents mail invoice to customer make the entry in the sales journal and then update the A/R sub ledger Cash- receipts How is cash handled -6 steps with docs receive cash-endorse check write on prelist deposit check-put on deposit slip make an entry in the Cash receipts journal update the A/R subsidiary ledger summarize cas...

RNAS C Practice Test Review 437 Questions with Verified Answers A capacitor and resisitor in parallel - CORRECT ANSWER will have same voltage across since in parallel. if in series, voltage drops would occur they can be treated together If the absolute pressure of a gas is increased from 3 atm to 4 atm at constant volume, then the absolute temperature of the gas will increase by: A. 25%. B. 33%. C. 67%. D. 75% - CORRECT ANSWER B. Assuming the validity of the Ideal-Gas law, PV = n...

T/F users of financial accounting info are external users of accounting in like stock investors, debt holders, and regulators - Answer-True T/F IASB is the independent standard setter for the financial accounting of US public companies. - Answer-False T/F Accounts Rec, equipment, salary payable, and interest expense are all balance sheet items. - Answer-False T/F Cash received from customers results from business operating activities and therefore classified as a part of operating cash ...

Solution Manual for Accounting Principles 14th Edition by Jerry J. Weygandt, Paul D. Kimmel, Jill E. Mitchell. This is true. Virtually every organization and person in our society uses accounting information. Businesses, investors, creditors, government agencies, and not-for-profit organizations must use accounting information to operate effectively. LO1 BT: C Difficulty: Easy TOT: 2 min. AACSB: None AICPA FC: Reporting 2. Accounting is the process of identifying, recording, and communicatin...

CHAPTER 1 Accounting in Action ASSIGNMENT CLASSIFICATION TABLE Learning Objectives Questions Brief Exercises Exercises Problems Set A Problems Set B 1. Identify the use and users of accounting and the objective of financial reporting. 1, 2, 3 1 1, 2, 5 1 1 2. Compare different forms of business organization. 4 2 3, 2 2 3. Explain the building blocks of accounting: ethics and the concepts included in the conceptual framework. 5, 6, 7, 8, 9, 10, 11 3, 4, 5, 6 4, 5, 9, 10...

WGU C214 OA Financial Management Pre-Test Exam What is included in the Income Statement and NOT in the Statement of Cash Flows? - Depreciation Expense Computation of Net Income: A co. sold products in 2014 for $120k and collected $100k cash and remainder in 2015. Co. incurred $70k expenses for 2014 and paid $100k which included $30k for expenses incurred in 2013. What is net income for 2014? - Computation of Net Income (R-E=NI) $50,000 Net Income = $120k - $70k = $50k, or Revenues - E...

SUA Chapter 1 Latest 2023 Graded A+ Steps in the Accounting Process 1. Transactions Occur 2. Prepare Documents 3. Record in Journals 4. Post to Ledgers (do at end of every month) 5. Prepare Unadjusted General Ledger Trial Balance (do at end of year) 6. Prepare and Post Adjusting Entries 7. Prepare Adjusted Trial Balance 8. Prepare Financial Statements 9. Prepare Closing Entries NEW YEAR - repeat #1-9 Recording Transactions Requires: 1. Identify the exchanges or adjustments that must be recorded...

SUA EXAM 1 QUESTIONS AND ANSWERS RATED A Flow chart is a diagram that graphically shows a company's documents and records their sequential flow in the organization Types of flow charts Systems, internal control and program Systems flow chart -emphasizes the flow of documents and records in the organization -does not show segregation of duties -easy to read Internal control flow chart shows the segregation of duties and othe internal controls -show everything but is more difficult to read Pr...