ACCT 212 Week 2 Quiz
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$20.00
| Institution | ACCT 212 Financial Accounting |
| Contributor | Jessica Brown |
- Question: After transactions are recorded in the journal, they are posted to the:
- Question: A list of all account names used to record transactions of a company is referred to as a:
- Question: Which step in the process of measuring external transactions involves assessing the equality of total debits and total credits?
- Question: A company purchases supplies on account for $1,600. Indicate the amount of increases and decreases in the accounting equation.
- Question: A company issues common stock for $28,000 cash. Record the transaction. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
- Question: Consider the following T-account for Accounts payable.
Compute the balance of the Accounts payable account.
- Question: The full set of procedures used to accomplish the measurement/communication process of financial accounting is referred to as the:
- Question: When a company pays employees' salaries for the current period, how will the basic accounting equation be affected?
- Question: When a company pays cash for equipment, what is the effect on the accounting equation for that company?
- Question:Which of the following is the appropriate debit/credit format for recording a business transaction?
| Instituition / Term | |
| Term | Summer 2021 |
| Institution | ACCT 212 Financial Accounting |
| Contributor | Jessica Brown |
