ACC 561 Week 1 WileyPlus Exercise 1-7, 1-8, and Quiz Study Guide

1006 Words Oct 7th, 2014 5 Pages
ACC 561 Week 1 WileyPlus Exercise 1-7, 1-8, and Quiz Study Guide www.paperscholar.com DIRECT LINK TO THIS STUDY GUIDE: http://www.paperscholar.com/acc-561-week-1-wileyplus-exercise-1-7-1-8-and-quiz-study-guide/ Instantly Download! Get Better Grades in Less Time!
100% Satisfaction Guarantee
DESCRIPTION FOR THIS STUDY GUIDE:
ACC 561 Week 1 WileyPlus Exercise 1-7, 1-8, and Quiz Study Guide
This study guide includes solutions to Wiley plus exercises 1-7, 1-8, and week one practice quiz
Top of Form
Bottom of Form exercise 1-7 & 1-8:
1. Indicate which statement you would examine the fine each of the following items: income statement, balance sheet, retained earnings statement, or statement of cash flows
A. Revenue during the
…show more content…
assets, liabilities, and stockholders equity
c. revenues, liabilities, and stockholders equity
d. expenses, dividends, and stockholders equity
13. Dawson Corporation has the following information available for 2011:
(In millions)
Issued common stock $45
Retired common stock $65
Paid dividends $75
Net income $130
Beginning common stock balance $575
Beginning retained earnings balance $425
Based on this information, what is Dawson’s common stock balance at the end of the year?
a. $685
b. $195
c. $555
d. $630
14. Declaring a cash dividend will
a. increase retained earnings
b. increase common stock
c. decrease retained earnings
d. decrease common stock
15. At December 31, 2012 Lowery company had retained earnings of $2,184,000. During 2012 they issued stock for $98,000, and pay dividends of $34,000. Net income for 2012 was $402,000. The retained earnings balance at the beginning of 2012 was:
a. $2,552,000
b. $1,816,000
c. $1,914,000
d. $2,454,000
16. Which of the following organizations issues accounting standards for countries outside the United States?
a. FASB
b. SEC
c. GAAP
d. IASB
17. Generally accepted accounting principles
a. are accounting rules formulated by the Internal Revenue Service
b. have eliminated all errors in accounting
c. are sound in theory but rarely used in real life
d. are accounting rules that are recognized as a general guide for financial reporting
18. The agency of the United States government

More about ACC 561 Week 1 WileyPlus Exercise 1-7, 1-8, and Quiz Study Guide

Open Document