Question 1

Determine the retained earnings ending balance.

Accepted Answer

A)  $12,150 
B)  $15,730 
C)  $6,480 
D)  $21,400 
A)  $12,150 
B)  $15,730 
C)  $6,480 
D)  $21,400

Question 2

Determine the current assets.

Accepted Answer

A)  $23,030 
B)  $10,330 
C)  $21,930 
D)  $8,630 
A)  $23,030 
B)  $10,330 
C)  $21,930 
D)  $8,630

Question 3

The end-of-period spreadsheet is not considered a part of the formal accounting records.

Accepted Answer

A) True 
 B)False

Question 4

Accrued taxes payable are generally reported on the balance sheet as a current liability.

Accepted Answer

A) True 
 B)False

Question 5

Indicate whether each of the following would be reported in the financial statements as a (a)current asset,(b)current liability,(c)revenue,or (d)expense:

Accepted Answer

The answer of Indicate whether each of the following would...

Question 6

Which of the following has steps of the accounting cycle in proper sequence (some steps may be missing)?

Accepted Answer

A)  analyze and record transactions,post transactions to the ledger,prepare a trial balance,prepare financial statements,journalize closing entries,analyze adjustment data and prepare adjusting entries 
B)  prepare a trial balance,analyze adjustment data,prepare adjusting entries,prepare financial statements,journalize closing entries and post to the ledger,analyze and record transactions,post transactions to the ledger 
C)  analyze and record transactions,post transactions to the ledger,prepare a trial balance,analyze adjustment data,prepare adjusting entries,prepare financial statements,journalize closing entries and post to the ledger,and prepare a post-closing trial balance 
D)  prepare financial statements,journalize closing entries and post to the ledger,analyze and record transactions,post transactions to the ledger,prepare a trial balance,analyze adjustment data,prepare adjusting entries 
A)  analyze and record transactions,post transactions to the ledger,prepare a trial balance,prepare financial statements,journalize closing entries,analyze adjustment data and prepare adjusting entries 
B)  prepare a trial balance,analyze adjustment data,prepare adjusting entries,prepare financial statements,journalize closing entries and post to the ledger,analyze and record transactions,post transactions to the ledger 
C)  analyze and record transactions,post transactions to the ledger,prepare a trial balance,analyze adjustment data,prepare adjusting entries,prepare financial statements,journalize closing entries and post to the ledger,and prepare a post-closing trial balance 
D)  prepare financial statements,journalize closing entries and post to the ledger,analyze and record transactions,post transactions to the ledger,prepare a trial balance,analyze adjustment data,prepare adjusting entries

Question 7

The balance sheet accounts are referred to as real or permanent accounts.

Accepted Answer

A) True 
 B)False

Question 8

A end-of-period spreadsheet heading is dated for a period of time.

Accepted Answer

A) True 
 B)False

Determine the retained earnings ending balance.

Determine the current assets.

The end-of-period spreadsheet is not considered a part of the formal accounting records.

Accrued taxes payable are generally reported on the balance sheet as a current liability.

Indicate whether each of the following would be reported in the financial statements as a (a)current asset,(b)current liability,(c)revenue,or (d)expense:

Which of the following has steps of the accounting cycle in proper sequence (some steps may be missing)?

The balance sheet accounts are referred to as real or permanent accounts.

A end-of-period spreadsheet heading is dated for a period of time.

Introduction to Accounting and Business

Analyzing Transactions

The Adjusting Process

Accounting for Merchandising Businesses

Inventories

Internal Control and Cash

Receivables

Long-Term Assets: Fixed and Intangible

Liabilities: Current,installment Notes,and Contingencies

Liabilities: Bonds Payable

Corporations: Organization, stock Transactions, and Dividends

Statement of Cash Flows

Financial Statement Analysis

Introduction to Managerial Accounting

Job Order Costing

Process Cost Systems

Activity-Based Costing

Cost-Volume-Profit Analysis

Variable Costing for Management Analysis

Budgeting

Evaluating Variances From Standard Costs

Evaluating Decentralized Operations

Differential Analysis and Product Pricing

Capital Investment Analysis

Lean Manufacturing and Activity Analysis

Filters

Exam 4: Completing the Accounting Cycle

Determine the retained earnings ending balance.

Determine the current assets.

The end-of-period spreadsheet is not considered a part of the formal accounting records.

Accrued taxes payable are generally reported on the balance sheet as a current liability.

Indicate whether each of the following would be reported in the financial statements as a (a)current asset,(b)current liability,(c)revenue,or (d)expense:

Which of the following has steps of the accounting cycle in proper sequence (some steps may be missing)?

The balance sheet accounts are referred to as real or permanent accounts.

A end-of-period spreadsheet heading is dated for a period of time.

Introduction to Accounting and Business

Analyzing Transactions

The Adjusting Process

Accounting for Merchandising Businesses

Inventories

Internal Control and Cash

Receivables

Long-Term Assets: Fixed and Intangible

Liabilities: Current,installment Notes,and Contingencies

Liabilities: Bonds Payable

Corporations: Organization, stock Transactions, and Dividends

Statement of Cash Flows

Financial Statement Analysis

Introduction to Managerial Accounting

Job Order Costing

Process Cost Systems

Activity-Based Costing

Cost-Volume-Profit Analysis

Variable Costing for Management Analysis

Budgeting

Evaluating Variances From Standard Costs

Evaluating Decentralized Operations

Differential Analysis and Product Pricing

Capital Investment Analysis

Lean Manufacturing and Activity Analysis

Filters