Acct212 week 2 - Study guides, Class notes & Summaries

ACCT212 - Week 2 - Quiz (100% CORRECT SOLUTIONS)

ACCT212 - Week 7 – Quiz – With 100% Correct Answers 1. The advantages of a corporation compared to a sole proprietorship or partnership include: 2. Preferred stock is called preferred because it usually has two preferences over common stock. These preferences relate to: 3. When a company issues 35,000 shares of $3 par value common stock for $30 per share, the journal entry for this issuance would include: 4. Environmental Designs issues 5,000 shares of its $1 par value common stock at $18 pe...

ACCT212 Week 3-4 Exam Questions and Correct Answers Latest Update 2025 A process cost report summarizes the following process costing steps: (Check all that apply). - Answers physical flow of units equivalent units of production costs per equivalent unit of production The journal entry to record the purchase of materials on account in process cost accounting is a(n): - Answers increase in assets and an increase in liabilities True or false: Using the weighted-average method, the computatio...

ACCT212 - Week 2 - Homework (100% CORRECT SOLUTIONS)

ACCT212 WEEK 1 HOMEWORK Grade Details - All Questions Question 1. (TCO 1) Accounting Student Answer: measure business activities. processes date into reports and communicates the data to decision makers. is often called the language of business. All the above Question 2. (TCO 1) Decision makers who use accounting include Student Answer: the SEC. investors. managers.

ACCT212 - Week 3 – Homework – Graded A+ Golden Eagle Company prepares monthly financial statements for its bank. The November 30 adjusted trial balance includes the following account informatio n: Supplies $2,000 Prepaid Insurance 8,000 Salaries Payable $11,000 Deferred Revenue 3,000 The following information is known for the month of December: 1. Purchases of supplies during December total $4,500. Supplies on hand at the end of December equal $3,500. 2. No insurance payments are made in Dec...

ACCT212 WEEK 1 HOMEWORK Grade Details - All Questions Question 1. (TCO 1) Accounting Student Answer: measure business activities. processes date into reports and communicates the data to decision makers. is often called the language of business. All the above Question 2. (TCO 1) Decision makers who use accounting include Student Answer: the SEC. investors. managers. All the above

ACCT212 WEEK 1 HOMEWORK Grade Details - All Questions Question 1. (TCO 1) Accounting Student Answer: measure business activities. processes date into reports and communicates the data to decision makers. is often called the language of business. All the above Question 2. (TCO 1) Decision makers who use accounting include Student Answer: the SEC. investors. managers.

Green Wave Company plans to own and operate a storage rental facility. Required: For the first month of operations, the company had the following transactions. For each transaction, describe the dual effect on the accounting equation. For example, in the first transaction, (1) assets increase and (2) stockholders’ equity increases.

In depth study notes for week 2 exam of ACCT212. Chapter 13: Financial statement analysis, this document is filled with graphics, definitions, summarized sections.