The writer is very fast, professional and responded to the review request fast also. Thank you.
Presentation/PPT
27/08/2022
1)What field of accounting would provide the most useful information to internal decision makers in regards to planning, budgeting, and forecasting?
financial accounting
tax accounting
managerial accounting
governmental accounting
2)Which of the following is TRUE of the net business profit of the partnership?
The profit is not taxable.
The profits of the partnership pass through the partnership to be taxed to the partners.
The profits of a partnership are only taxable to the limited partners.
The profits of a partnership are not taxable unless the partnership has over $250,000 of net profits.
3)Please refer to the table below.
Sales Returns and Allowances$2,400Sales Commissions$12,000Cost of Goods Sold$45,000 Sales Revenue$127,000Utilities$4,500Rent$15,000Sales Discounts$1,500Salaries$25,000Gain on sale of equipment$4,000Freight Out$4,500Depreciation Expense$3,000Interest Revenue$300
What is net income?
$14,100
$21,400
$9,800
$18,400
4)Angelo Company uses FIFO inventory costing method under the periodic system. Angelo had beginning inventory of 40 units at $20 each. They purchased 60 units at $22 each throughout the year and had sales of 80 units. At year end, replacement cost for each unit is $19.00. Ending inventory should be valued at ________.
$420
$400
$380
$440
5)
Unearned subscription revenue appears on the balance sheet as a_______.
current asset or long-term investment
long-term investment
liability
long-term asset
6)
If a bookkeeper mistakenly recorded a disbursement as $83 instead of the correct amount of $38, the error would be shown on the bank reconciliation as a _______.
$45 deduction from the book balance
$45 addition to the bank balance
$45 addition to the book balance
$45 deduction from the bank balance
7)
Most computerized accounting systems are organized by_______.
networks
outputs
inputs
function
8)
Revenues total $10,200, expenses total $7,300, and the owner’s withdrawals account has a balance of $2,600. What is the balance in the income summary account prior to closing net income or net loss?
$2,900 credit
$300 credit
$2,900 debit
$300 debit
9)
Please refer to the table below.
Sales Returns and Allowances$2,400Sales Commissions$12,000Cost of Goods Sold$45,000 Sales Revenue$127,000Utilities$4,500Rent$15,000Sales Discounts$1,500Salaries$25,000Gain on sale of equipment$4,000Freight Out$4,500Depreciation Expense$3,000Interest Revenue$300
What is gross profit?
$82,000
$78,100
$79,600
$66,100
The writer is very fast, professional and responded to the review request fast also. Thank you.
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.
Read moreEach paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.
Read moreThanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.
Read moreYour email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.
Read moreBy sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.
Read more