ACC 290 Final Exam Guide (New)
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ACC 290 Finals
Question 1
Jackson Company recorded the following cash transactions for the year:
Paid $135,000 for salaries.
Paid $60,000 to purchase office equipment.
Paid $15,000 for utilities.
Paid $6,000 in dividends.
Collected $245,000 from customers.
Question 2
Which of the following describes the classification and normal balance of the Unearned Rent Revenue account?
Question 3
Posting
Question 4
The following is selected information from L Corporation for the fiscal year ending October 31, 2014.
Cash received from customers $300,000
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ACC 290 Week 1 Practice Quiz (New)
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Question 1
Current assets are expected to be converted to cash or consumed within the next year or the normal operating cycle, whichever is longer.
Current assets are economic resources that are expected to be converted to cash or used up by the business within one year or the normal operating cycle, whichever is shorter.
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ACC 290 Week 1 Practice Quiz (New)
For more course tutorials visit
www.shoptutorial.com
Question 1
Current assets are expected to be converted to cash or consumed within the next year or the normal operating cycle, whichever is longer.
Current assets are economic resources that are expected to be converted to cash or used up by the business within one year or the normal operating cycle, whichever is shorter.
............................................
ACC 290 Week 2 Practice Quiz (New)
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Question 1
Expenses decrease retained earnings.
Question 2
During 2014, Gibson Company assets decreased $50,000 and its liabilities decreased $90,000. Its stockholders’ equity
Question 3
Payment of a dividend...