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Accounting Equations UPDATED Actual Exam Questions and CORRECT Answers R142,83   Add to cart

Exam (elaborations)

Accounting Equations UPDATED Actual Exam Questions and CORRECT Answers

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  • Course
  • Accounting Equations
  • Institution
  • Accounting Equations

Accounting Equations UPDATED Actual Exam Questions and CORRECT Answers Assets Liabilites Equity Equation - CORRECT ANSWER- Assets = Liabilities + Equity Total Equity Equation - CORRECT ANSWER- Common Stock + Retained Earning Retained Earning Equation - CORRECT ANSWER- Beginning Retained Earnin...

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  • September 21, 2024
  • 3
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • Accounting Equations
  • Accounting Equations
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Accounting Equations UPDATED Actual
Exam Questions and CORRECT Answers
Assets Liabilites Equity Equation - CORRECT ANSWER✔✔- Assets = Liabilities + Equity



Total Equity Equation - CORRECT ANSWER✔✔- Common Stock + Retained Earning



Retained Earning Equation - CORRECT ANSWER✔✔- Beginning Retained Earning + Net
Income -Dividends =


Net Income Equation - CORRECT ANSWER✔✔- Revenues - Expenses



Gross Profit Equation - CORRECT ANSWER✔✔- Sale Revenue - Cost of Good Solds



Working Capital Equation - CORRECT ANSWER✔✔- Current Assets - Current Liabilities



Current Ratio Equation - CORRECT ANSWER✔✔- (Current Assets)/(Current Liabilities )



Depreciation Expense Equation - CORRECT ANSWER✔✔- (Cost - Residual Value) / Useful
lifetime


Interest Expense Equation - CORRECT ANSWER✔✔- Principal X Rate X Time



Current Cash Debt Coverage Ratio Equation - CORRECT ANSWER✔✔-



Account Receivable Turnover Equation - CORRECT ANSWER✔✔-



Average Collection Period Equation - CORRECT ANSWER✔✔-



Inventory Basic Formula - CORRECT ANSWER✔✔-

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