Mid-term_Review - 1 Unearned revenue 2 Prepaid expenses 3...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Mid-term Review ACG 2021-Summer 2011 Format Ten Multiple Choice- 10 Points Six Problems - 90 Points Chapter I Elements of balance sheet, income statement, cash-flow statement and statement of stockholder equity The accounting equation Chapter II Transaction Analysis Journal entries 1. Debit assets, expenses 2. Credit liabilities, equity, and revenues T-accounts 1. Assets and expenses always have debit balances (left) 2. Liabilities, revenues, and equity have credit balance (Right) Chapter III Accrual Accounting (when to recognize revenue and expenses) More transaction analysis
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: 1. Unearned revenue 2. Prepaid expenses 3. Accrued revenue 4. Accrued Expenses Chapter IV 1. Fraud Triangle 2. How to prevent fraud 3. Bank Reconciliation Statements 4. Journal entries related to bank reconciliation statements Chapter VI • Measuring and reporting accounts receivables 1. Estimating bad debt expenses 2. Allowance for doubtful account 3. Writing-off uncollectible accounts Chapter VI • Perpetual versus periodic inventory methods • Determining the cost of inventory and cost of good sold 1. FIFO 2. LIFO 3. Average cost method...
View Full Document

{[ snackBarMessage ]}

Ask a homework question - tutors are online