ACC 290 Final Exam

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ACC 290 Final Exam To Purchase this Tutorial Copy And Paste Below Link In Your Browser http://www.homework-bank.com/downloads/acc-290-final-exam/ For Any Information or Any Class Which you Did not find on Our Website , Just Hit US Email On below address Email Address: hworkbank@gmail.com Visit Our Website : http://www.homework-bank.com/ ACC 290 Final Exam 1) Which financial statement is used to determine cash generated from operations? 2) In terms of sequence, in what order must the four basic financial statements be prepared? 3) In classifying transactions, which of the following is true in regard to assets? 4) An increase in an expense account must be 5) ABC Corporation issues 100 shares of $1 par common stock at $5 per share,…show more content…
During the year, the company purchased goods costing $1,500,000. If Uptown Athletic reported ending inventory of $600,000 and sales of $2,000,000, their cost of goods sold and gross profit rate would be 20) During the year, Sarah’s Pet Shop’s merchandise inventory decreased by $30,000. If the company’s cost of goods sold for the year was $450,000, purchases would have been 21) At the beginning of the year, Wildcat Athletic had an inventory of $200,000. During the year, the company purchased goods costing $700,000. If Wildcat Athletic reported ending inventory of $300,000 and sales of $1,000,000, their cost of goods sold and gross profit rate would be 22) The entry to record of sale of $900 with terms of 2/10, n/30 will include a 23) Dobler Company uses a periodic inventory system. Details for the inventory account for the Units Per unit price Total Balance, 1/1/2012 200 $5.00 $1,000 Purchase, 1/15/2012 100 5.3 530 Purchase, 1/28/2012 100 5.5

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