FinMan10e_BTest_ch01 - 10th Edition FINANCIAL MANAGERIAL...

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10th Edition FINANCIAL & MANAGERIAL ACCOUNTING 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.
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