Test Bank for Introductory Financial Accounting for Business, 2nd Edition Edmonds (All Chapters included)
Course
Cost accounting
Institution
Cost Accounting
Complete Test Bank for Introductory Financial Accounting for Business, 2nd Edition by Thomas Edmonds, Christopher Edmonds, Mark Edmonds, Jennifer Edmonds, Philip Olds ; ISBN13: 9780357717417. (Full Chapters included Chapter 1 to 14)....
Chapter 1: An Introduction to Accounting.
Chapter 2: Account...
Introductory Financial
Accounting for Business
2nd Edition by Thomas Edmonds
Complete Chapter Solutions Manual
are included (Ch 1 to 14)
** Immediate Download
** Swift Response
** All Chapters included
,Chap 01_2e_Test Bank
Student name:__________
SHORT ANSWER. Write the word or phrase that best completes each statement or
answers the question.
1) Indicate how each event affects the elements of financial statements. Use the following
letters to record your answer in the box shown below each element. You do not need to enter
dollar amounts. If an event increases one account and decreases another account equally within
the same element, record I/D. If an event has no impact on the element, record NA.
Increase = IDecrease = DNot Affected = NA
Walker Company issued common stock for $150,000 cash.
2) Indicate how each event affects the elements of financial statements. Use the following
letters to record your answer in the box shown below each element. You do not need to enter
dollar amounts. If an event increases one account and decreases another account equally within
the same element, record I/D. If an event has no impact on the element, record NA.
Increase = IDecrease = DNot Affected = NA
Nguyen Company borrowed $50,000 cash from Metropolitan Bank.
3) Indicate how each event affects the elements of financial statements. Use the following
letters to record your answer in the box shown below each element. You do not need to enter
dollar amounts. If an event increases one account and decreases another account equally within
the same element, record I/D. If an event has no impact on the element, record NA.
Increase = IDecrease = DNot Affected = NA
Bell Company provided consulting services for $20,000 cash.
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, Chap 01_2e_Test Bank
4) Indicate how each event affects the elements of financial statements. Use the following
letters to record your answer in the box shown below each element. You do not need to enter
dollar amounts. If an event increases one account and decreases another account equally within
the same element, record I/D. If an event has no impact on the element, record NA.
Increase = IDecrease = DNot Affected = NA
Pierce Company paid $40,000 cash to purchase land.
5) Indicate how each event affects the elements of financial statements. Use the following
letters to record your answer in the box shown below each element. You do not need to enter
dollar amounts. If an event increases one account and decreases another account equally within
the same element, record I/D. If an event has no impact on the element, record NA.
Increase = IDecrease = DNot Affected = NA
Perez Company paid $220,000 cash for salaries expense.
6) Indicate how each event affects the elements of financial statements. Use the following
letters to record your answer in the box shown below each element. You do not need to enter
dollar amounts. If an event increases one account and decreases another account equally within
the same element, record I/D. If an event has no impact on the element, record NA.
Increase = IDecrease = DNot Affected = NA
Jones Company paid $20,000 in cash dividends to its owners.
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