Exam (elaborations)
Test Bank for Introductory Financial Accounting for Business 2nd Edition Edmonds
- Course
- Institution
Test Bank for Introductory Financial Accounting for Business 2nd Edition Edmonds
[Show more]
Seller
Follow
a_plus_work
Reviews received
Content preview
DOWNLOAD THE Test Bank for Introductory Financial Accounting forBusiness 2nd Edition Edmonds
Introductory Financial Accounting for Business 2nd Edition
by Edmonds CH01
CORRECT ANSWERS ARE LOCATED AT THE SECOND PART OF THIS
DOCUMENT
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.
Question Details
AICPA : BB Critical Thinking
Accessibility : Keyboard Navigation
Type : Static
Gradable : manual
AICPA : FN Measurement
Difficulty : 2 Medium
Topic : Recording Business Events Under the Accounting Equation
Learning Objective : 01-05 Show how business events affect the accounting equation.
Accessibility : Screen Reader Compatible
Bloom's : Analyze
AACSB : Analytical Thinking
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.
Version 1 1
mynursytest.store
,DOWNLOAD THE Test Bank for Introductory Financial Accounting for
Business 2nd Edition Edmonds
Introductory Financial Accounting for Business 2nd Edition
by Edmonds CH01
Question Details
Accessibility : Keyboard Navigation
Type : Static
Gradable : manual
AICPA : FN Measurement
Difficulty : 2 Medium
Topic : Recording Business Events Under the Accounting Equation
Learning Objective : 01-05 Show how business events affect the accounting equation.
Accessibility : Screen Reader Compatible
Bloom's : Analyze
AACSB : Analytical Thinking
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.
Question Details
Accessibility : Keyboard Navigation
Type : Static
Gradable : manual
AICPA : FN Measurement
Difficulty : 2 Medium
Topic : Recording Business Events Under the Accounting Equation
Learning Objective : 01-05 Show how business events affect the accounting equation.
Accessibility : Screen Reader Compatible
Bloom's : Analyze
AACSB : Analytical Thinking
Version 1 2
mynursytest.store
,DOWNLOAD THE Test Bank for Introductory Financial Accounting for
Business 2nd Edition Edmonds
Introductory Financial Accounting for Business 2nd Edition
by Edmonds CH01
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.
Question Details
Accessibility : Keyboard Navigation
Type : Static
Gradable : manual
AICPA : FN Measurement
Difficulty : 2 Medium
Topic : Recording Business Events Under the Accounting Equation
Learning Objective : 01-05 Show how business events affect the accounting equation.
Accessibility : Screen Reader Compatible
Bloom's : Analyze
AACSB : Analytical Thinking
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.
Version 1 3
mynursytest.store
, DOWNLOAD THE Test Bank for Introductory Financial Accounting for
Business 2nd Edition Edmonds
Introductory Financial Accounting for Business 2nd Edition
by Edmonds CH01
Question Details
Accessibility : Keyboard Navigation
Type : Static
Gradable : manual
AICPA : FN Measurement
Difficulty : 2 Medium
Topic : Recording Business Events Under the Accounting Equation
Learning Objective : 01-05 Show how business events affect the accounting equation.
Accessibility : Screen Reader Compatible
Bloom's : Analyze
AACSB : Analytical Thinking
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.
Question Details
Accessibility : Keyboard Navigation
Type : Static
Gradable : manual
AICPA : FN Measurement
Difficulty : 2 Medium
Topic : Recording Business Events Under the Accounting Equation
Learning Objective : 01-05 Show how business events affect the accounting equation.
Accessibility : Screen Reader Compatible
Bloom's : Analyze
AACSB : Analytical Thinking
Version 1 4
mynursytest.store
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller a_plus_work. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $11.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
67163 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now