ACCT 290 Principles of accounting

ACCT 290 Principles of accounting

19 May 0

No Date General Journal Debit Credit           1 Sep 01, 2019 Cash 53,000   1   Zack Mason, Capital   53,000           2 Sep 04, 2019 Equipment 5,800   2   Accounts payable   5,800           3 Sep 16, 2019 Automobile 13,800   […]

Read More
ACC 290 Week 4 Practice Connect Practice Assignment

ACC 290 Week 4 Practice Connect Practice Assignment

05 October 0

attempt 1 1 On June 1, 2019, Cain Company, a new firm, paid $8,400 rent in advance for a seven-month period. The $8,400 was debited to thePrepaid Rent account. On June 1, 2019, the firm bought supplies for $10,250. The $10,250 was debited to the Supplies account. An inventory of supplies at the end of June showed that items […]

Read More
ACC 290 Week 4 Quiz

ACC 290 Week 4 Quiz

05 October 0

Practice Question 50   Correct! This represents cost of goods sold under LIFO:Sale on August 8: 200 × $5.20* = $1,040. *$1,560/300 = $5.20Sale on August 24: 350 units × $3.35** = $1,172.50. **$1,340/400 = $3.35Total cost of goods sold = $2,212.50.     A company just starting business made the following inventory transactions in […]

Read More
ACC 290 Final Exam

ACC 290 Final Exam

05 October 0

Question 1The best definition of assets is thea.resources belonging to a company that have future benefit to the company.b.collections of resources belonging to the company and the claims on these resources.c.cash owned by the company.d.owners’ investment in the business.Answer:                       Question 2Which of the following […]

Read More