Contra account amounts - Study guides, Class notes & Summaries

ACA Accounting Exam Questions and Answers 100% Verified and Updated Which of the following would require adjustments to the cash at cash account in a bank reconciliation? 1. Bank charges 2. Unpresented cheques 3. Returned cheques 4. Uncleared lodgements Bank charges and returned cheques Unpresented cheques and uncleared lodgements are just timing differences What is the double entry for VAT (purchases)? D/R Purchases (Net) D/R VAT C/R Trade Payables (Gross) What is the double entry...

ACA Accounting Exam Questions and Answers 100% Verified and Updated Which of the following would require adjustments to the cash at cash account in a bank reconciliation? 1. Bank charges 2. Unpresented cheques 3. Returned cheques 4. Uncleared lodgements Bank charges and returned cheques Unpresented cheques and uncleared lodgements are just timing differences What is the double entry for VAT (purchases)? D/R Purchases (Net) D/R VAT C/R Trade Payables (Gross) What is the double entry...

Accounting Cycle correct answers The sequence of steps in the accounting process completed during the final fiscal period Accrual correct answers Recognition of an expense or a revenue that has been incurred or earned but has not yet been recorded Accrued wages correct answers Unpaid wages owed to employees for the time between the end of the last pay period and the end of the fiscal period Adjusting entries correct answers Entries that bring the books up to date at the end of the fisca...

Types of prevention - answer-primary- car restraints, bicycle helmets, immunizations secondary- prevent for those with RF-pap, mammo tertiary-mgmt of established disease- meds, lifestyle Primary - answer-Preventing the health problem, most cost effective form of healthcare **IMMUNIZATIONS, ensuring adequate illumination at home (preventing falls) Secondary - answer-Detecting disease in early asymptomatic stages, screenings -Early cause finding of asymptomatic disease via the use of a sc...

Solutions Manual For Fundamental Accounting Principles (Volume 2) 15TH Canadian Edition By Larson/Jensen/Dieckmann 2024. The cost of a property, plant and equipment asset includes all normal, reasonable, and necessary costs of getting the asset in place and ready to use. For example, cost includes such items as the invoice price paid, freight costs, non refundable sales taxes (PST, HST) and all costs incurred related to installing and testing an asset before it is put into use. 4. Land is a...

©BRAINBARTER 2024/2025 CFE Exam Questions With 100% Verified Answers Falsified Hours & Salary Schemes - answerThe most common method of misappropriating funds from the payroll is the overpayment of wages. For hourly employees, the size of a paycheck is based on two factors: the number of hours worked and the rate of pay. Therefore, for hourly employees to fraudulently increase the size of their paycheck, they must either falsify the number of hours they have worked or change their wage r...

On-a-Roll, Inc. amortizes its copyright of $20,000 over 20 years. Miss Hap, the bookkeeper, forgot to record the amortization in the current year. The effect of this mistake causes ______. assets to be overstated net income to be overstated Which of the following is contra-asset account? Allowance for Doubtful Accounts During the year, ABC Corp. realizes that a particular customer will never pay. What action should ABC take? Write off the uncollectible account and its corresponding allowance f...

ACA Accounting Exam Questions and Answers 100% Verified and Updated Which of the following would require adjustments to the cash at cash account in a bank reconciliation? 1. Bank charges 2. Unpresented cheques 3. Returned cheques 4. Uncleared lodgements Bank charges and returned cheques Unpresented cheques and uncleared lodgements are just timing differences What is the double entry for VAT (purchases)? D/R Purchases (Net) D/R VAT C/R Trade Payables (Gross) What is the double entry...

ACCO 310 - financial reporting I MULTIPLE CHOICE—Conceptual final exam actual practice verified 2024 questions and answers Concordia University 1. The essential characteristic(s) of accounting is (are) a. communication of financial information to interested persons. b. communication of financial information about economic entities. c. identification, measurement, and communication of financial information. d. all of these. 2. Financial accounting is concerned with the process that cul...

CFA Level 1 - 101 Must Knows 368 Questions with Verified Answers Addition Rule of Probability - CORRECT ANSWER ADDITION: P(A or B) = P(A) + P(B) - P(AB) Roy's Safety First Criterion - CORRECT ANSWER Safety First Ratio = (E(R) - Rₜ) / σ Larger ratio is better If (Rₜ) is risk free rate, then it becomes Sharpe Ratio Sharpe Ratio - CORRECT ANSWER Sharpe Ratio = (E(R) - RFR) / σ Larger ratio is better If (Rt) is higher than RFR, then it becomes Safety First Ratio Centra...