Acct 212 week 4 midterm - Study guides, Class notes & Summaries

ACCT 212 Week 4 Midterm Exam Graded A+ With Rationale

ACCT 212 Week 4 Midterm Exam VERSION 1 EXAM PRIORITY EXAM WOTH ANSWERS

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ACCT 212 Midterm Week 4

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ACCT 212 Week 4 Midterm (Version 2) 2021.ACCT 212 Week 4 Midterm (Version 2) 2021.ACCT 212 Week 4 Midterm (Version 2) 2021.ACCT 212 Week 4 Midterm (Version 2) 2021.ACCT 212 Week 4 Midterm (Version 2) 2021.

ACCT 212 Week 4 Midterm (Version 2) 1. Question : (TCO 1) The Accounting Equation is used to develop the organization's financial reports. (1) Describe what assets value would be if Liabilities are $12,000 and Owners' Equity is $50,000 by showing the Accounting Equation (10 points), and (2) provide an example of two asset accounts that could contain the value. (10 points) Student Answer: Equity= Assets- Liabilities Liabilities = Assets - Equity 50,000- 12,000= 38,000 Two types...

The Accounting Equation is … to develop the organization’s financial reports. (1) Describe what liabilities value would be if Assets are $50,000 and Owners’ Equity is $25,000 by showing the Accounting Equation (10 points) and (2) provide an example of two liability accounts. (10 points) Question: The financial statements present a company to the public in financial terms. (1) Which financial statement should … prepared first and why (10 points), and (2) explain what information this fin...