Acctg 5110 - Study guides, Class notes & Summaries
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ACCTG 5110 ( with verified solutions and graded A+) 2023 questions and answers
- Exam (elaborations) • 15 pages • 2023
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What is the downside of using accrual accounting versus cash-basis accounting discussed in the lecture? 
-Accrual accounting provides poorer information about past performance. 
-Accrual accounting is less predictive in terms of future performance than cash-basis accounting. 
-Accrual accounting is more subjective than cash-basis accounting, which may lead to manipulation. 
-Accrual accounting and cash-basis accounting report the same values over the life of the firm. - ANSAccrual accounting...
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ACCTG 5110( 2023 questions and accuraate solutions and graded A+)
- Exam (elaborations) • 7 pages • 2023
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Nina Corp. had the following net income (loss) the first three years of operation: $7,200, ($1,000), and $2,400. If the Retained Earnings balance at the end of year three is $500, what was the total amount of dividends paid over these three years? - ANS$8,100 (7200-1000+2400-500) 
 
Use the following appropriate amounts to calculate net income: Revenues, $11,300; Liabilities, $4,800; Expenses, $4,100; Assets, $17,400; Dividends, $1,700. - ANSNet Income = Revenues ($11,300) − Expenses ($4,100...
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ACCTG 5110 exam with solutions and graded A+
- Exam (elaborations) • 2 pages • 2023
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Billings on Construction in Progress - ANS- increases with credit 
- found on BS 
 
Prepaid Expenses - ANS- increases with debit 
- found on BS 
 
Allowance for Doubtful Accounts - ANS- increases with credit 
- found on BS 
 
Gain on Sale of Land - ANS- increases with credit 
- found on CIS 
 
Deferred Rent Revenue - ANS- increases with credit 
- found in BS
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accounting 5110 exam bundle 2023
- Package deal • 10 items • 2023
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accounting 5110 exam bundle with a grade of A+ and with verified solutions
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Accounting 5110 exam bundle with solutions available
- Package deal • 6 items • 2023
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Accounting 5110 questions and answers with grade A+ and accurate answers
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accounting 5110 exam bundle ( A+ graded and with accurate solutions)
- Package deal • 11 items • 2023
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accounting 5110 exam bundle ( A+ graded and with verified solutions)
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Intermediate Accounting: Tests with grade A+ and accurate solutions
- Exam (elaborations) • 15 pages • 2023
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Question 1-1 
 
How should cumulative preferred dividends in arrears be shown in a corporation's balance sheet? 
 
1. Increase in stockholders' equity 
2. Increase in current liabilities 
3. Increase in current liabilities for the amount expected to be declared within the year or operating cycle, and increase in long-term liabilities for the balance 
4. Note disclosure - ANSNote disclosure 
 
Question 1-2 
 
A mining company declared a liquidating dividend. The journal entry to record the de...
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