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WGU D102 Pre-Assessment Exam with complete solutions Last document update:   ago

What information is contained in a balance sheet? - ANSWER-Report of a company's financial position as of a point in time. What is an owners' equity item? - ANSWER-Capital stock A company ended July with assets of $150,000 and owner's equity of $60,000. What is the amount of liabilities at the end of July? - ANSWER-$90,000 What is reported in a multiple-step income statement that is not reported in a single-step income statement? - ANSWER-Gross profit How is gross profit computed...