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.
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ACC 290 Week 1 Discussion Question 2
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What are debits and credits? How are debits and credits used to record business transactions? Why do accountants debit asset accounts to increase them but credit liability accounts to increase them? Why do accountants debit expenses to increase them but credit revenues to increase them?
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ACC 290 Week 1 Vocabulary Activity (New)
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WileyPLUS Assignment: Week 1 Vocabulary Activity
Resource: WileyPLUS
Complete the following Week 1 Assignment in WileyPLUS:
• Chapter 1 WileyPLUS Crossword Puzzle 1
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ACC 290 Week 2 LT Reflection Summary
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Discuss the objectives for ACC 290 Week One. How do they relate to the practice of accounting and its uses in business? Identify the four basic financial statements. Classify transactions using the rules of debit and credit. Journalize basic transactions. Discuss how financial statements would be useful to external users such as investors and creditors. Write a 350 to 500 word summary of your Learning Team’s discussion....