cummulative

Question 1

accumulated depreciation is

Answer 1

a contra-asset

Question 2

allowance for uncollectables is

Answer 2

contra to accounts recievable

Question 3

when do you recognize revenue

Answer 3

when the service is provided

Question 4

JE for bonds

Answer 4

Debit cash credit bonds payable`

Question 5

accounting equations

Answer 5

A = L + SHE

Question 6

income statement

Answer 6

revenue - expenses = net income

Question 7

common stock is made of

Answer 7

beginning balance of CS + issues CS = ending CS

Question 8

retained earnings is made of

Answer 8

Beginning RE + net income - dividends = ending RE

Question 9

what happens after an increase in expenses/dividends

Answer 9

decrease in SHE

Question 10

what happens after a increase in revenue

Answer 10

Increase SHE

Question 11

what is a balance sheet made of

Answer 11

current/long term assets, current/ling term liabilities and SHE

Question 12

borrowing money

Answer 12

Notes receivable/payable

Question 13

what account is deferred revenue

Answer 13

liability

Question 14

journal entry for deferred revenue

Answer 14

1) debit cash, credit def rev
2) debit def rev, credit serv rev

Question 15

journal entry for deferred expenses

Answer 15

1) debit supplies, credit cash
2) debit supplies exp, credit supplies

Question 16

journal entry for prepaid rent

Answer 16

1) debit pre paid rent, credit cash
2) debit rent expense, credit pre paid rent

Question 17

when do we recognize revenue

Answer 17

when we earn it

Question 18

what is the matching principle

Answer 18

match expenses with revenue

Question 19

when do we match expenses and revenue

Answer 19

in the proper period the expenses incurred

Question 20

what is on the bank balance side

Answer 20

outstanding checks, outstanding deposits, bank error

Question 21

what is on the book balance side

Answer 21

NSF checks, bank service fees, interest revenue, utility expense

Question 22

how do you write off for a uncollectable

Answer 22

debit AUA, credit A/R

Question 23

how does preferred stock affect financial statements?

Answer 23

deducted on the income statements

Question 24

debt to equity ratio

Answer 24

stock price / earnings per share

Question 25

what kind of changes are conservative

Answer 25

Changes resulting in lower revenues or higher expenses

Question 26

yuh

Answer 26

yuh