{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

Exam 2 - Accounting 200 Review Exam 2 40 multiple choice...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Accounting 200 Review - Exam 2 40 multiple choice questions Carryover material Accounting Equation (increase/decrease questions) Debits/Credit Rules and normal balances Financial statements: Multi Step Income Statement, Statement of Retained Earnings and Balance Sheet and know how each is composed and how they are affected by journal entries Application of Revenue Recognition, Matching Principle, Cost Principle Chapter 6 Cost Flow Assumptions (FIFO, LIFO, Weighted average methods) Use each method to calculate Ending Inventory and/or Cost of Goods Sold Impact of method on financial statements Shipping terms/ownership (F.O.B.; consignment) & determining quantity Inventory Turnover Ratio and Average Days in Inventory Lower of Cost or Market (LCM) Inventory Errors – impact on statements Chapter 7 Safeguarding assets/Internal control Principles Use of bank bank reconciliation (refers to both sides of reconciliation)
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}