Finance

ACCN 2010 Chapter 5 Homework | Tulane UniversityOriole Hardware Store completed the following merchandising transactions in the month of May. At the beginning of May, Orioles’ ledger showed Cash of $8,600 and Common Stock of $8,600.May 1Purchased merchandise on account from Black Wholesale Supply for $8,600, terms 1/10, n/30.2Sold merchandise on account for $5,000, terms 2/10, n/30. The cost of the merchandise sold was $3,900.5Received credit fro

15 Accounting & Economics Assignment Help / Finance Tulane University / ACCN 2010 11 Jul 2021

ACCN 2010 Chapter 12 Quiz | Tulane UniversityQuestion 1 If accounts receivable have increased during the period expenses on an accrual basis are greater than expenses on a cash basis. revenues on an accrual basis are the same as revenues on a cash basis. revenues on an accrual basis are less than revenues on a cash basis. revenues on an accrual basis are greater than revenues on a cash basis. Question 2 Which one

7 Accounting & Economics Assignment Help / Finance Tulane University / ACCN 2010 11 Jul 2021

ACCN 2010 Chapter 11 Quiz |Tulane UniversityQuestion 1The amount of stock that may be issued according to the corporation's charter is referred to as theauthorized stock. issued stock. outstanding stock. unissued stock.Question 2The date on which a cash dividend becomes a binding legal obligation is on thedeclaration date. date of record. last day of the fiscal year-end. payment date.Question 3The two ways that a corporation can be classified b

5 Accounting & Economics Assignment Help / Finance Tulane University / ACCN 2010 11 Jul 2021

ACCN 2010 Chapter 9 Quiz | Tulane UniversityQuestion 1Which of the following methods of computing depreciation is production based?Straight-line.Declining-balance.Units-of-activity.None of these answer choices are correct.Question 2The depreciation method that applies a constant percentage to depreciable cost in calculating depreciation isstraight-line.units-of-activity.sum-of-year's-digits.None of these answer choices are correct.Question 3Ayaya

10 Accounting & Economics Assignment Help / Finance Tulane University / ACCN 2010 11 Jul 2021

ACCN 2010 Chapter 8 Quiz |Tulane UniversityQuestion 1Allowance for Doubtful Accounts on the balance sheetis offset against total current assets.is deducted from accounts receivable.increases the cash realizable value of accounts receivable.appears under the heading "Other Assets."Question 2When an account is written off using the allowance method, accounts receivabledecreases and the allowance account increases.increases and the allowance accoun

10 Accounting & Economics Assignment Help / Finance Tulane University / ACCN 2010 11 Jul 2021

ACCN 2010 Chapter 7 Quiz | Tulane UniversityQuestion 1A bank statementlets a depositor know the financial position of the bank as of a certain date.is a credit reference letter written by the depositor's bank.shows the activities that increased or decreased the depositor's account balance. is a bill from the bank for services rendered.Question 2An NSF check should appear in which section of the bank reconciliation?Addition to the balance pe

7 Accounting & Economics Assignment Help / Finance Tulane University / ACCN 2010 11 Jul 2021

ACCN 2010 Chapter 6 Quiz |Tulane UniversityQuestion 1Bonita has the following inventory data:Nov. 1 Inventory 26 units @ $5.30 each8 Purchase 106 units @ $5.70 each17 Purchase 53 units @ $5.55 each25 Purchase 79 units @ $5.80 eachA physical count of merchandise inventory on November 30 reveals that there are 88 units on hand. Cost of goods sold under FIFO is$491.$1003.$508.$986. Question 2Given equal circumstances, which inventory method wou

10 Accounting & Economics Assignment Help / Finance Tulane University / ACCN 2010 11 Jul 2021

ACCN 2010 Chapter 5 Quiz | Tulane University1. When using a perpetual inventory system, why are discounts credited to Inventory? The discounts are debited to discount expense and thus the credit has to be made to merchandise inventory. The discounts reduce the cost of the inventory. The discounts are a reduction of business expenses. None of these answers choices are correct. 2. Metlock’s Market recorded the following events involvin

10 Accounting & Economics Assignment Help / Finance Tulane University / ACCN 2010 11 Jul 2021

ACCN 2010 Chapter 4 Homework |Tulane UniversityExpenses paid in cash before they are used or consumed.choose the accounting concept Income Summary Prepaid expenses (prepayments) Book value Closing entries Adjusted trial balance Adjusting entries Temporary accounts Earnings management Permanent accounts Contra asset account Depreciation b. The difference between the cost of a depreciable asset and its related accumulated depreciation.

10 Accounting & Economics Assignment Help / Finance Tulane University / ACCN 2010 11 Jul 2021

ACCN 2010 Chapter 4 Quiz |Tulane UniversityQuestion 1.Which one of the following is not a justification for adjusting entries?Adjusting entries are necessary to bring the general ledger accounts in line with the budget.Adjusting entries are necessary to ensure that the expense recognition principle is followed.Adjusting entries are necessary to ensure that the revenue recognition principle is followed.Adjusting entries are necessary to enable

10 Accounting & Economics Assignment Help / Finance Tulane University / ACCN 2010 10 Jul 2021