College Accounting, Chapters 1-27 (22nd Edition)

Chapter 15

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Image 1: ; The income statement shows the sources ... more

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The statement of owner’s equity summarizes all ... more

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Image 1: ; The balance sheet reports on the assets... more

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Image 1:Image 2: ; Image 1: The entry to record ... more

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(1)The entry to close the revenue accounts and ... more

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The entry to reverse the wages accrued on December... more

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The multiple-step income statement reveals the ... more

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The current assets are easily converted into cash ... more

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The presentation of assets in the balance sheet is... more

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Working capital ensures the ability of the ... more

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The accounts receivable turnover is the number of ... more

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Cash is a current asset. Since it doesn’t need to ... more

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The accounts receivable is a current asset ... more

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The merchandise inventory is a current asset. ... more

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The net sales is not used in computing for the ... more

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The average accounts receivable is the average of ... more

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The net sales for the year ended December 31, 20... more

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The changes in owner’s equity includes the ... more

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Image 1: ; The balance sheet is the statement of ... more

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The first journal entry is the entry to close the ... more

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; The entry to reverse the adjustment on interest... more

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The commonly used forms of income statement are ... more

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Two measures of the firm’s ability to pay its ... more

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The information on the income statement must be ... more

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Close the revenue accounts to income summary. ... more

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The purpose of post closing trial balance is to ... more

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The reversing entries reverse some of the entries ... more

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Reversing entries are entries made at the ... more

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The reversing entries reverse the adjusting ... more

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; The net sales of $140,600 is the difference ... more

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The cost of goods sold is the amount of costs used... more

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(1) The revenue section show net sales of $149,773... more

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The entry to reverse the wages accrued on December... more

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The net sales of $82,196 is the difference between... more

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The merchandise inventory as of January 1, 20-- of... more

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; The income statement shows the financial ... more

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; The entry to reverse the wages accrued on ... more

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Dear Friend,  To be able to determine whether the ... more

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The CPA must call the attention of the owner and ... more

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The CPA’s decision will affect the bookkeeper in ... more

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To: Business Owner I have noticed that you have ... more

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Accountants have ethical obligation on the client’... more

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; The income statement shows the sources of ... more

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The statement of owner’s equity summarizes all ... more

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; The balance sheet reports on the assets, ... more

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The entry to record the adjustment on beginning ... more

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The entry to close the revenue accounts and contra... more

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The entry to reverse the wages accrued on December... more

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45 days ; Calculate the average inventory by ... more

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Image 1:Image 2:Image 3: ; Image 1:General ledger ... more

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Image 1:Image 2:Image 3: ; Image 1: The general ... more

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The general ledger summarizes the financial ... more

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The schedule of accounts receivable is a list of ... more

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Screenshot 1:  Worksheet:Image 2:Image 3:Image 4... more

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Image 1:Image 2:General Ledger (Partial) ; Image 1... more

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Image 1:  journal entryImage 2: ; Image1:  At the ... more

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The post-closing trial balance proves that the ... more

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Image  1:Reversing entriesImage 2:Posting to ... more

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Image 1Image 2Image 3Image 4Image 5Image 6Image 7... more

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; The general ledger is the book of final entry ... more

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The schedule of accounts receivable is a list of ... more

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(1)Unadjusted Trial Balance ColumnsImage 2:Image 3... more

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Image 1:Image 2: ; Image 1: On the general journal... more

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Image 1Image 2 ; Image 1 On the general journal, ... more

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The post-closing trial balance is a listing of the... more

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Image 1Image 2 ; Image 1: The reversing entries ... more

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Image 2Image 3: ; The general ledger is the book ... more

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Image 1Image 2Image 3 ; Image 1: On the general ... more

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; The general ledger is the book of final entry ... more

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The schedule of accounts receivable is a list of ... more

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Image 1Image 2Image 3Image 4 ; The work sheet is a... more

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Image 1:Image 2: ; Image 1: On the general journal... more

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Image 1Image 2 ; Image 1 On the general journal, ... more

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The post-closing trial balance is a listing of the... more

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Image 2Image 3 ; The general ledger is the book of... more

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Image 1: Image 2:Image 3:Image 4:Image 5:Image 6:... more

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The general ledger is the book of final entry used... more

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The schedule of accounts receivable is a list of ... more

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Image 1: Image 2:Image 3: Image 4: ; The work ... more

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Image 1: Image 2: ; Image 1: On the general ... more

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Image 1: Image 2: ; Image 1 On the general journal... more

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The post-closing trial balance is a listing of the... more

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