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WGU D103 Pre-Assessment: Intermediate Accounting I Units 5-7 (JMV1) (PJMV) | Questions with 100% Correct Answers | Verified | Latest Updat $0.00
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WGU D103 Pre-Assessment: Intermediate Accounting I Units 5-7 (JMV1) (PJMV) | Questions with 100% Correct Answers | Verified | Latest Updat
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WGU D103 Pre-Assessment: Intermediate Accounting I Units 5-7 (JMV1) (PJMV) | Questions with 100% Correct Answers | Verified | Latest Updat

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  • November 13, 2024
  • 11
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • wgu d103 pre assessment intermediate accounting

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  • WGU D103
  • WGU D103

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WGU D103 Pre-Assessment: Intermediate
Accounting I Units 5-7 (JMV1) (PJMV) | Questions
with 100% Correct Answers | Verified | Latest
Updat


Practice questions for this set


Learn 1 /7 Study with Learn




Debit: Depreciation Expense $5000; Credit: Accumulated-Depreciation
Equipment $5000



Give this one a try later!



If $10,000 of salaries was paid in
January, what was the balance in
1 Sales Returns and Allowances 2
Salaries and Wages Payable at
December 31, 2020?




Journalize depreciation for the
3 Report a $3500 sale on account
equipment that is $5,000



Don't know?

, Terms in this set (108)


A $280,000 write-down of $680,000 (all of these are unusual or infrequent
equipment leased to losses)
others
A $160,000 adjustment of
accruals on long-term
contracts
A $240,000 write-off of
obsolete inventory
In its 2020 income
statement, what amount
should be reported as
total unusual losses?

According to the revenue When the performance obligation is satisfied
recognition principle, at
which point should
revenue be recognized?

The accounting period is Debit Salaries & Wages Expense, Credit Salaries &
the calendar year. Wages Payable; $1,600
Employees are paid every
Friday for the five-day
week ending on that day.
Salaries amount to $4,000
per week.
The accounting period
ends on a Tuesday.
Using the information
given above, what is the
necessary adjusting entry
at December 31, 2020?

Accounts Payable current liabilities-balance sheet

accounts payable is a credit balance
LIABILITY with a normal...

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