The Sarbanes Oxley Act refers to Answer US legislation passed in 2002 to

The sarbanes oxley act refers to answer us

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Question 4: The Sarbanes-Oxley Act refers to: Question 5: The three types of business activities undertaken by all enterprises are: Question 6: The sale of stock in a business is an example of what type of business activity? Question 7: The accounting equation requires that: Question 8: A higher ratio of liabilities to stockholders’ equity implies that a business is. Question 9: A primary qualitative characteristic of accounting information is relevance.Relevance means that information should.
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Question 10: The materiality concept is best described as: Chapter 2: Homework Question 1: Normal Balances Account Debit Credit Accounts Receivable Accounts Payable Dividends Wage Expense Inventory Interest Income Retained Earnings Question 2: Recording transactions with Accounting Equation During the year, the Decker Company experienced the following accounting transactions: 1. Issued common stock in the amount of $100,000 2. Paid a $30,000 cash dividend 3. Borrowed $25,000 from a bank 4. Made a principal payment of $2,500 on an outstanding bank loan 5. Made an interest payment of $1,200 on an outstanding bank loan Cash = Notes Payable + Common Stock + Retained Earnings 1 100,000 100,000 2 (30,000) (30,000) 3 25,000 25,000 4 (2,500) (2,500) 5 (1,200) (1,200)
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Question 3 – Part A: During the year, the Decker Company experienced the following accounting transactions:1. Issued common stock in the amount of $100,0002. Paid a $30,000 cash dividend3. Borrowed $25,000 from a bank4. Made a principal payment of $2,500 on an outstanding bank loan5. Made an interest payment of $1,200 on an outstanding bank loan General Journal # Description Debit Credit 1 Cash 100,000 Common Stock 100,000 2 Retained Earnings 30,000 Cash 30,000 3 Cash 25,000 Notes Payable 25,000 4 Retained Earnings 2,500 Cash 2,500 5 Retained Earnings 1,200 Cash 1,200 Question 3- Part B: Separated T- Charts. Cash Common Stock 100,000 Notes Payable 2,500 25,000 Retained Earnings 2,500 100,000 30,000 25,000 2,500 1,200
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1,200 Question 4: Trial Balance General Information Trial Balance Accounts Debit Credit Cash 6,000 0 Accounts Receivable 10,800 0 Equipment 30,000 0 Accounts Payable 0 6,000 Common Stock 0 36,000 Dividends 2,400 0 Sales Revenue 0 17,200 Administrative Expense 8,000 0 Utilities Expense 2,000 0 Totals 59,200 59,200
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