FinMan10e_ATest_ch01

FinMan10e_ATest_ch01 - TEST 1A (Concluded) 10th Edition...

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TEST 1A (Concluded) 10th Edition CORPORATE FINANCIAL ACCOUNTING Warren/Reeve/Duchac Chapter Test 1A Score % Name Course Section NOTE: Each of the 50 correct answers is assigned a weight of 2%. PROBLEM—ANALYSIS OF TRANSACTIONS—48% A
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INSTRUCTIONS: Indicate the effect of each of the following transactions for the current month on assets, liabilities, and stockholders’ equity by inserting “+” for increase and “–” for decrease in the appropriate columns at the right. Answers For Scoring TRANSACTIONS A L SE 0. Received cash from owner as original investment . ................................... + + 0. ____ 1. Received cash for services provided (sold) . ............................................. 1. ____ 2. Purchased equipment for cash . ................................................................. 2. ____ 3. Paid utilities for month . .............................................................................. 3. ____
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TEST 1A (Concluded) 4. Paid creditors on account . ......................................................................... 4. ____ 5. Received cash for services provided to cash customers . ......................... 5. ____ 6. Purchased land by signing a nine-month, non-interest-bearing note payable . ..................................................................................................... 6. ____ 7. Charged customers for service provided on account . ............................... 7. ____ 8. Paid cash for miscellaneous expenses incurred . ...................................... 8. ____ 9. Paid the balance of the non-interest-bearing note payable . ..................... 9. ____ 10.
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This note was uploaded on 07/17/2011 for the course ACCT 102 taught by Professor Martinez during the Summer '11 term at Rio Hondo College.

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FinMan10e_ATest_ch01 - TEST 1A (Concluded) 10th Edition...

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