ACCT 504 Devry Course Tutorial (acct504.com)
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ACCT 504 Week 4 Midterm Set 2 (Devry)

ACCT 504 Week 4 Midterm Set 2 (Devry) | ACCT 504 Devry Course Tutorial (acct504.com) | Scoop.it
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Page:

1.

Question :

(TCO A, B, C) External users want answers to all of the following questions except:

Points Received:

3 of 3

2.

Question :

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

Points Received:

3 of 3

3.

Question :

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

Points Received:

3 of 3

4.

Question :

(TCO A) Resources owned by a business are referred to as:

Points Received:

3 of 3

5.

Question :

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

Paid $70,000 for salaries.
Paid $20,000 to purchase office equipment.
Paid $6,000 for utilities.
Paid $7,000 in dividends.
Collected $130,000 from customers.

What was Jamie's net cash provided by operating activities?

Points Received:

3 of 3

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ACCT 504 Final Exam (3 different finals) (Devry)

ACCT 504 Final Exam (3 different finals) (Devry) | ACCT 504 Devry Course Tutorial (acct504.com) | Scoop.it

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1. (TCO A) Which one of the following is an advantage of corporations relative to partnerships and sole proprietorships? (Points : 5)


Reduced legal liability for investors
Harder to transfer ownership
Lower taxes
Most common form of organization

2. (TCO A) When a corporation distributes a dividend, _____. (Points : 5)


the most common form of distribution is a cash dividend
the Dividends account will be increased with a credit
the Retained Earnings account will be directly increased with a debit
the Dividends account will be decreased with a debit

3. (TCOs A, B) Below is a partial list of account balances for Cerner Company:

Cash $5,000
Prepaid insurance 500
Accounts receivable 2,500
Accounts payable 2,000
Notes payable 3,000
Common stock 1,000
Dividends 500
Revenues 15,000
Expenses 12,500

What did Cerner Company show as total credits? (Points : 5)


$21,500
$21,000
$20,500
$22,000

4. (TCOs B, E) A small and private company may be able to justify using a cash basis of accounting if it has _____. (Points : 5)


sales under $1,000,000
no accountants on staff
insignificant receivables and payables
all sales and purchases on account

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ACCT 504 Week 4 Midterm Exam Set 1 (Devry)

ACCT 504 Week 4 Midterm Exam Set 1 (Devry) | ACCT 504 Devry Course Tutorial (acct504.com) | Scoop.it

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Page:

1.

Question :

(TCO A, B, C) External users want answers to all of the following questions except:

Points Received:

3 of 3

2.

Question :

(TCO C) Borrowing money is an example of a(n):

Points Received:

3 of 3

3.

Question :

(TCO C) Buying and selling products are examples of:

Points Received:

3 of 3

4.

Question :

(TCO A) Resources owned by a business are referred to as:

Points Received:

3 of 3

5.

Question :

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

Paid $70,000 for salaries.
Paid $20,000 to purchase office equipment.
Paid $6,000 for utilities.
Paid $7,000 in dividends.
Collected $130,000 from customers.

What was Jamie's net cash provided by operating activities?

Points Received:

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ACCT 504 Entire Course (Devry)

ACCT 504 Entire Course (Devry) | ACCT 504 Devry Course Tutorial (acct504.com) | Scoop.it

ACCT 504 is a online tutorial store we provides ACCT 504 Entire Course

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ACCT 504 Week 1-7 All Discussion Questions

ACCT 504 Week 3 Case Study 1 Flower Landscaping Corporation

ACCT 504 Week 4 Midterm Exam Set 1

ACCT 504 Week 4 Midterm Set 2

ACCT 504 Week 4 Midterm Set 3

ACCT 504 Week 5 Case Study 2 Internal Control - LJB Company

ACCT 504 Week 5 Course Project Draft Spreadsheet

ACCT 504 Week 6 Case Study 3 - Cash Budgeting - LBJ Company

ACCT 504 Week 7 Course Project JCP Kohls

ACCT 504 Final Exam

 

 

 

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