Description of this paper

Accounting Review

Description

solution


Question

I need you to create a review worksheet for me that has an example of each bullet listed. The examples must have numerical values, not simply (debit xx, credit xx) I need examples with the work shown. This includes formulas, written explanations if possible, and the answer. I'm using this as my study guide for midterm.;Buying inventory using perpetual inventory and paying taking a discount and not taking a discount. Understand and prepare the journal entry.;Play with the accounting equation ? how is the accounting equation is affected by a transaction.;How are the financial statements connected?;Analyze journal entries - select the correct entry for a particular event.;Calculate the book value (cost less accumulated depreciation) using the straight line method.;Prepare adjusting entries and the balance of the accounts for service revenue, prepaid expenses, interest expenses, interest revenues.;Determine the cost of inventory;Select the entry to record the purchase of equipment with a down payment and a loan.;Errors detected by checking the trial balance (in balance or out of balance).;Determine the balance of cash and bank reconciliations.;Which accounts are permanent or temporary?;Journal entry when the inventory count shows a difference with the inventory records.;What is the amount of understatement or overstatement of an expense or revenue when you fail to do an adjustment?;Determine the total liabilities or total assets based on certain transactions during a month.;Look at a T account and calculate the ending balance.;Calculate the current assets looking at a balance sheet.;Look at the 10 column worksheet and determine the net income.;Normal balances of accounts.;What are depreciation expense and accumulated depreciation?;Calculate net income.;FOB destination or shipping point, understand 2/10, n30.;Matching principle.

 

Paper#77305 | Written in 18-Jul-2015

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