value: _ Required Infurmmlon
Lecture Video Assessment 251 [LO 6]
All pem'lanent accounts are adjusted atthe end ofan accounting period. This statement is
References eBook 5 Resources
Multiple Choice Lecture \l'ideo Assessment 2-51 [LO 6] Le
Lecture Video Assessment 2-40 [LO 5]
The unearned revenue account appears of which cfthe following nancial statements?
0 Income statement
0 Statement of changes in stackhelders eiquilyr
. Balance sheet
0 Statement of cash flows
Lecture Video Assessment 2-2 [LO 1]
Slennous Company eems $2000 of revenue on account In Year 1. Cash coliecrlons of receivables amount to
$1,800 In Year I wlTh the remainder bean collected In Year 2. Based on accrual accountlng the com
value: _ Requlred Information
Lecture Video Assessment 2-69 [LO 8]
Adams Company adjusted Irs records to recognized accrued salaryr expense at me end of Irs Yeart
accounting period. The remgnirjdn is
0 an asset source transaction.
0 an as
Lecture Video Assessment 2-41 [LO 5]
AAA Consulting Services collected sh for services to be provided In the future. Recognizing this event
would cause the companys
O assets and net income to increase.
. assets and liabilities to in
value: Requlred Informatlon
Lecture Video Assessment 2430 [L0 6]
Which of the following most accurately depicts the steps in an accounting cycle?
0 Record transaction data Close temporary accounts - Adjust accounts _, Prepare Statements.
value: Required Informatlon
Lecture Video Assessment 2-70 [L0 8]
Croiwe Company collected $18900 in advance for services to be performed in the future. This event is
0 an asset source transaction.
0 an asset use transaction.
. an asset exc
value: Required Information
Lecture Video Assessment 2-29 [LO 4]
Which of the following statements is false?
0 Prepard insurance is a deferred expense.
0 Prepard insurance represents a future economic benet.
0 Prepaid Insurance Indicates t
vaiue: Required Information
Lecture Video Assessment 2-1 [L0 1]
Acompany using accrual accounting mayr repon revenue on the income malemem even liit does nol mliect
cash. This stalemem is
References ellook I Resources
Multiple Choice Lecture V
Lecture Video Assessment 212 [LO 2]
The Bccuunts payabe account appears an
O the income Statement.
. the balance sheet,
0 the statement of changes in stockholders' equity.
0 the statement of cash ows.
References eBook & Resources
value: _ Required Informatlun
Lecture Video Assessment 2-49 [LO 6]
Norrl'lallyI a company closes ll: books and [hen adjusts Ils records 1.0 update me accoum balances before
preparlng the Financial statements. Thls sullen-lent Is
value: _ Required Information
Lecture Video Assessment 2-32 [LO 4]
On October 1 of Year1 Leaikar Company paid $1,200 cash for an insurance policy that would provide
prolecrion for a one year term. The compa ny's flacai closing date Is Dece
uatue: _ Requlred Infurmatlnn
Lecture Video Assessment 2-71 [LO 8]
Crewe Company collected $18300 in advance for services to be performed in the tuture. The year-end
scljustlng entry necessary to recognize the portion oftne revenue that wa
Lecture Video Assessment 2-60 [LO 7]
The foilawlng Items were drawn from a company's accounting records:
cfw_1) Accounts recelvaole
[2) Accounts payable
 Cash paid to purchase land
cfw_5) Supplies expense
 Cash co
Lecture Video Assessment 2-39 [LO 5]
Lawyers inc. accepted a $2,000 retainer tor wnlch the company agreed to provide services In the tuture.
Recognizing this event would
0 defer the recognition of revenue,
0 cause the companys asset
wine: _ Requlred Informatlnn
Lecture Video Assessment 230 [L0 4]
Baltimore Company paid cash to purchase Insurance Thai. would protect The company during me coming
year. The recognitlcn afthis event would
0 cause lolal asseis to decrease
Lecture Video Assessment 2-24 [LO 3]
Knoll Company s1arlenYear 2 wlm a $500 in cash. $500 in supplles, and $1,000 in common stock accounts.
During Year 2 The ot:)l'r'|[:|ar'r5uI expenenced The following events.
U] Paid $400 cash 1.
Lecture Video Assessment 2-21 [LO 3]
0 exists when a company pays cash before recognizing the associated expense.
0 provides better matching of revenues with their associated expenses than does cash basis accounting.
. Both st
Lecture Video Assessment 2-23 [LO 3]
When a company pays cash to purchase supplies
0 habilitie5 decrea5e.
O expenses increase.
. total asaeis i5 not affected.
0 cash ow from investing activities decreases.
References eBook In Resources
Lecture Video Assessment 2-13 [LO 2]
When a company incurs accrued expenses
0 the liability account, accounts payable, lncreases.
. stockholders' equity decreases.
O assets are not affected.
0 all of the answers are correct.
Lecture Video Assessment 2-3 [LO 1]
GreyCo and Sons earns 56.900 of revenue on account In Year 1. Cash collectlons of recelvaoles amount to
$6,300 In Year 1 with the remainder belng collected In Year 2. Based on this Information alone t
Lecture Video Assessment 2-22 [LO 3]
A cosr may be recorded as an expense or as an asset purchase. This statement is
References eBook 8 Resources
Mulliple Choice Lecture Video Assemment 2722 [L0 3]
Ch eck m! we rk
Learning Objecve: 0270
Lecture Video Assessment 2-11 [LO 2]
Efa company recognizes accrued salary expense
. the employees have completed work but have not been paid.
0 the employees have been paid but have not completed their work.
0 the employees have worked
To: Jellocity and Jams distributors
From: Carrie Rose (distribution, Myrtle Beach SC)
CC: Vendors of Jellocity and Jams
Re: Arbitration and why we need it
This memo is to inform everyone about the importance of arbitration.
What product is the ad trying to sell?
What message do you think the ad is trying to send?
That if you wear this line of fragrance, people will be more attracted to you.
Is this ad appropriate for the older female teenager (fifteen to
Intermediate Accounting I
Rhonda Fawbush Smith
September 17, 2016
US district court for the district of Minnesota
US court of appeals for the eighth circuit
Before WOLLMAN, Chief Judge, BEAM, and MORRIS SHEPPARD ARNOL
Malice Family Brands is filing a lawsuit against Starbucks claiming
a breach of contract. Starbucks stopped selling MFB products
after, they claim, they had multiple quality complaints. MFB
claims that Starbucks had a gas leak and that is why the snacks
Due to recent events, hundreds of current and former employees of Donald Trump have filed
law suits against Trump for mistreatment of employees. These cases range from Trump hiring
illegal immigrants to work for less than $5 an hour, discrimination for ag