Acct 504 Entire Course Accounting and Finance Managerial Use and Analysis

ACCT 504 Entire Course Accounting and Finance Managerial Use and Analysis

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ACCT 504 Entire Course Accounting and Finance Managerial Use and Analysis

ACCT 504 Week 1 , An Overview of Financial Statements and the Environment of Financial Reporting

What is GAAP? What is the purpose of GAAP?

What is the purpose of a Balance Sheet? What information does it provide?

ACCT 504 Week 2, The Accounting Information System and Accrual Accounting Concepts

What is the role of the accounting equation in the analysis of business transactions?

ACCT 504 Week 3, Merchandising Operations and Inventory – Discussions Questions

ACCT 504 Week 3, Case Study 1 Flower Landscaping Corporation – Discussions Questions

ACCT 504 Week 4, Internal Control, Cash and Receivables – Discussion Questions

ACCT 504 Week 4, Midterm Exam Answers

(TCO A, B, C) Which of the following statements concerning users of accounting information is incorrect?

(TCO C) Issuing shares of stock in exchange for cash is an example of a(n):

(TCO C) Which activities involve putting the resources of the business into action to generate a profit?

(TCO A) The cost of assets consumed or services used is also known as:

(TCO C) Edwards Company recorded the following cash transactions for the year:

Paid $45,000 for salaries.

Paid $20,000 to purchase office equipment.

Paid $5,000 for utilities.

Paid $2,000 in dividends.

Collected $75,000 from customers.

What was Edwards’ net cash provided by operating activities?

(TCO A) On a classified balance sheet, prepaid insurance is classified as:

(TCO A) An intangible asset:

(TCO A) These are selected account balances on December 31, 2007.

-Land (location of the corporation’s office building) $200,000

-Land (held for future use) 300,000

-Corporate Office Building 1,200,000

-Inventory 400,000

-Equipment 900,000

-Office...