Chapter 7 journal entries Study guides, Class notes & Summaries
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![Managerial Accounting Creating Value in a Dynamic Business Environment 10th edition By Hilton -Test Bank](/docpics/3276987/64e0ece4cb23f_3276987_121_171.jpeg)
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Managerial Accounting Creating Value in a Dynamic Business Environment 10th edition By Hilton -Test Bank
- Exam (elaborations) • 1802 pages • 2023
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Chapter 03 
Product Costing and Cost Accumulation in a Batch Production Environment 
 
 
 
 
True / False Questions 
 
1.	Manufacturing overhead is a pool of indirect production costs that must somehow be attached to each unit manufactured. 
 
True False 
 
2.	Electricity costs that were incurred by a company's production processes should be debited to Utilities Expense. 
 
True False 
 
3.	The final step in recognizing the completion of production requires a company to debit Fi...
![Test Bank for Cornerstones of Managerial Accounting, 4th Canadian Edition by Mowen](/docpics/3102589/64b9f9e0ad862_3102589_121_171.jpeg)
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Test Bank for Cornerstones of Managerial Accounting, 4th Canadian Edition by Mowen
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Test Bank for Cornerstones of Managerial Accounting 4ce 4th Canadian Edition by Maryanne M. Mowen/Don R. Hansen/David J. McConomy/Bradley D. Witt. ISBN-13: 5261 
 
Full Chapters test banks are included. 
 
Chapter 1: Introduction to Managerial Accounting 
What Is Managerial Accounting? 
Comparison of Managerial and Financial Accounting 
Current Focus of Managerial Accounting 
The Role of the Management Accountant 
Managerial Accounting, Ethical Conduct, and Social Responsibility 
Accounting Desi...
![Test Bank for Accounting Principles, Twelfth Edition CHAPTER 2 THE RECORDING PROCESS](/docpics/3553043/651c8656301c2_3553043_121_171.jpeg)
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Test Bank for Accounting Principles, Twelfth Edition CHAPTER 2 THE RECORDING PROCESS
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CHAPTER 2 
THE RECORDING PROCESS 
SUMMARY OF QUESTIONS BY LEARNING OBJECTIVES AND BLOOM’S 
TAXONOMY 
Item LO BT Item LO BT Item LO BT Item LO BT Item LO BT 
True-False Statements 
1. 1 K 9. 1 K 17. 2 K 25. 3 K 33. 2 K 
2. 1 K 10. 1 K 18. 2 K 26. 3 C 34. 3 K 
3. 1 K 11. 1 K 19. 2 K 27. 3 K 35. 3 C 
4. 1 K 12. 1 K 20. 2 K 28. 3 K 36. 4 K 
5. 1 K 13. 1 K 21. 2 K 29. 3 K 37. 4 K 
6. 1 K 14. 1 K 22. 2 K 30. 4 K 
7. 1 K 15. 2 K 23. 2 K 31. 1 K 
8. 1 K 16. 2 K 24. 2 K 32. 1 K 
Multiple Choice Questio...
![Test Bank for Corporate Financial Accounting 13e Carl Warren James M Reeve Jonathan Duchac](/docpics/3533365/65188b2f513e8_3533365_121_171.jpeg)
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Test Bank for Corporate Financial Accounting 13e Carl Warren James M Reeve Jonathan Duchac
- Exam (elaborations) • 1225 pages • 2023
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CHAPTER 03 - THE ADJUSTING PROCESS 
1. Even though GAAP requires the accrual basis of accounting, some businesses prefer using the cash basis of accounting. 
a. True b. False 
ANSWER: DIFFICULTY: 
LEARNING OBJECTIVES: ACCREDITING STANDARDS: 
True 
Moderate 
Bloom's: Remembering FNMN.WARD.16.03-01 - LO: 03-01 ACCT.ACBSP.APC.02 – GAAP ACCT.AICPA.FN.03 – Measurement BUSPROG: Analytic 
2. Generally accepted accounting principles require accrual-basis accounting. a. True 
b. False 
ANSWER: DIFFI...
![Test Bank For Financial and Managerial Accounting 7th Edition By Wild](/docpics/3501460/65120425472c0_3501460_121_171.jpeg)
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Test Bank For Financial and Managerial Accounting 7th Edition By Wild
- Exam (elaborations) • 3359 pages • 2023
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Chapter 3 
Adjusting Accounts For Financial Statements 
 
 
 
True/False Questions 
1.	A company’s fiscal year must correspond with the calendar year. 
Answer: False 
Blooms: Remember 
AACSB: Communication 
AICPA BB: Industry 
AICPA FN: Decision Making 
Difficulty: 1 Easy 
Learning Objective: 03-C1 
Topic: Timing 
 
2.	The time period assumption assumes that an organization’s activities can be divided into specific time periods such as months, quarters, or years. 
Answer: True 
Blooms...
![Wall Street Oasis (Questions + Answers) Verified 100% Correct!!](/docpics/5005232/661ce3c5c95f2_5005232_121_171.jpeg)
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Wall Street Oasis (Questions + Answers) Verified 100% Correct!!
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Describe the 3 financial statements and discuss the connections each has to the others? - Answer- 
*Balance Sheet* 
The balance sheet shows a company's *assets, its liabilities and shareholders' equity*. It is a snapshot of 
a company at one point in time. 
*Income Statement* 
The income statement outlines the company's *revenues and expenses*. It shows their *profit/loss 
over* a *period of time*. 
*B/S and I/S Connections*: 
1) Interest Expense is calculated based on debt held on B/S 
2) Re...
![Accounting Volume 1 Canadian 9th Edition By Charles T. Horngren - Test Bank](/docpics/3274122/64dfff015698d_3274122_121_171.jpeg)
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Accounting Volume 1 Canadian 9th Edition By Charles T. Horngren - Test Bank
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Accounting, Vol. 1, 9e Cdn. Ed. (Horngren et al.) 
Chapter 2 Recording Business Transactions 
 
Objective 2-1 
 
1) The basic summary device of accounting is the account. 
Answer: TRUE 
Diff: 1 
Learning Outcome: A-03 Analyze and record transactions and their effects on the financial statements 
Skill: Knowledge 
Objective: 2-1 Define and use key accounting terms 
 
2) Notes receivable is a liability account. 
Answer: FALSE 
Diff: 1 
Learning Outcome: A-03 Analyze and record transactions...
![Test Bank For Advanced Accounting 12Th Ed By Paul M Fischer William J Taylor Rita H Cheng](/docpics/3517192/651559bcca7cf_3517192_121_171.jpeg)
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Test Bank For Advanced Accounting 12Th Ed By Paul M Fischer William J Taylor Rita H Cheng
- Exam (elaborations) • 728 pages • 2023
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Chapter 03—Consolidated Statements: Subsequent to Acquisition 
1. The method of accounting for subsidiaries that better reflects the investment account on parent-only financial statements is the 
 a. b. c. d. 
ANSWER: RATIONALE: 
CTIVES: 
2. The method of accounting for subsidiaries that is required for influential investments is the 
cost method. 
simple equity method. investment method. sophisticated equity method. 
d 
Under the sophisticated equity method the subsidiary income, and therefor...
![Test Bank For College Accounting A Career Approach 12e Cathy J Scott](/docpics/3529081/651762383c496_3529081_121_171.jpeg)
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Test Bank For College Accounting A Career Approach 12e Cathy J Scott
- Exam (elaborations) • 409 pages • 2023
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Chapter 03 
1. Which of the following is/are not true about a proper journal entry? 
a. An explanation is needed immediately after each debit and immediately after each 
credit. 
b. All credits are indented. 
c. A debit is never indented, even if a liability or owner's equity account is involved. 
d. All debits are listed before the first credit. 
e. In a compound entry, the largest amounts are listed first. 
ANSWER: 
POINTS: 
DIFFICULTY: 
LEARNING OBJECTIVES: NATIONAL STANDARDS: STATE STANDARD...
![Solution Manual for Intermediate Accounting,18th Edition by Donald E. Kieso, Jerry J. Weygandt and Terry D. Warfield. All Chapter 1-23 Covered. Latest Guide 2024.](/docpics/4291861/65ad684e29d31_4291861_121_171.jpeg)
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Solution Manual for Intermediate Accounting,18th Edition by Donald E. Kieso, Jerry J. Weygandt and Terry D. Warfield. All Chapter 1-23 Covered. Latest Guide 2024.
- Exam (elaborations) • 1977 pages • 2024
- Available in package deal
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- $24.99
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Solution Manual for Intermediate Accounting,18th Edition by Donald E. Kieso, Jerry J. Weygandt and Terry D. Warfield. All Chapter 1-23 Covered. Latest Guide 2024. 
Complete 
Solution Manual and Instructor Resource for 
Intermediate Accounting, 18th Edition 18th Edition, by 
Donald E. Kieso, Jerry J. Weygandt and Terry D. 
Warfield. ISBN- 
Chapter 1 
Financial Accounting and Accounting Standards 
Assignment Classification Table (By Topic) 
Topics Questions Brief 
Exercises 
Exercises Critical 
Th...
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