FinMan10e_BTest_ch01

FinMan10e_BTest_ch01 - 10th Edition FINANCIAL &...

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10th Edition CORPORATE FINANCIAL ACCOUNTING Warren/Reeve/Duchac Chapter Test 1B Score % Name Course Section NOTE: Each of the 50 correct answers is assigned a weight of 2%. PROBLEM—ANALYSIS OF TRANSACTIONS—48% B
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TEST 1B (Concluded) 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. Paid cash for wages . ................................................................................. 0. ____ 1. Received cash from stockholder as additional investment . ...................... 1. ____ 2. Received cash for services provided (sold) . ............................................. 2. ____ 3. Paid cash to stockholders as dividends . ................................................... 3. ____
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4. Charged customers for services sold on account . .................................... 4. ____ 5. Purchased cleaning supplies on account . ................................................. 5. ____ 6. Paid cash to customer who was overcharged for services sold for cash . 6. ____ 7. Received cash for cleaning supplies sold to employee at cost. ................. 7. ____ 8. Received cash on account from customers . ............................................. 8. ____ 9. Recorded cost of supplies used during the month . ................................... 9. ____ 10. Paid rent . .................................................................................................... 10. ____ 11. Paid creditors on account . ......................................................................... 11. ____
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FinMan10e_BTest_ch01 - 10th Edition FINANCIAL &...

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