PDF Archive

Easily share your PDF documents with your contacts, on the Web and Social Networks.

Send a file File manager PDF Toolbox Search Help Contact



DEVRY ACCT 301 Week 2 Quiz .pdf



Original filename: DEVRY ACCT 301 Week 2 Quiz.pdf
Author: LENOVO

This PDF 1.5 document has been generated by Microsoft® Office Word 2007, and has been sent on pdf-archive.com on 17/01/2017 at 11:52, from IP address 43.224.x.x. The current document download page has been viewed 148 times.
File size: 314 KB (3 pages).
Privacy: public file




Download original PDF file









Document preview


DEVRY ACCT 301 Week 2 Quiz

Check this A+ tutorial guideline at
http://www.assignmentclick.com/acct301/acct-301-week-2-quiz
For more classes visit
http://www.assignmentclick.com
ACCT 301 Week 2 Quiz
1. (TCO 1) Which of the following would not be considered an external user of
accounting data for XYZ Company?
2. (TCO 1) The cost of assets consumed or services used is also known as _________.
3. (TCO 1) The financial statement that summarizes the changes in retained
earnings for a specific period of time is the _________.
4. (TCO 1) Pinson Company began the year with retained earnings of $210,000.
During the year, the company recorded revenues of $300,000, expenses of
$228,000, and paid dividends of $24,000. What was Pinson’s retained
earnings at the end of the year?
5. (TCO 4) Which of the following statements is not true?
6. (TCO 4) Using the following balance sheet and income statement data, what is
the current ratio?

Current assets $7,000 Net income $12,000
Current liabilities 4,000 Stockholders’ equity 21,000
Total assets 30,000 Total liabilities 9,000
Average common shares outstanding was 10,000
7. (TCO 4) Using the following balance sheet and income statement data, what is
the total amount of working capital?
Current assets $7,000 Net income $12,000
Current liabilities 4,000 Stockholders’ equity 21,000
Total assets 30,000 Total liabilities 9,000
Average common shares outstanding was 10,000

8. (TCO 4) Using the following balance sheet and income statement data, what is
the debt to total assets ratio?
Current assets $7,000 Net income $12,000
Current liabilities 4,000 Stockholders’ equity 21,000
Total assets 30,000 Total liabilities 9,000
Average common shares outstanding was 10,000

9. (TCO 2) Powers Company paid its office rent of $1,000 with cash. As a result of
this event, _________.
10. (TCO 2) Which accounts normally have debit balances?
11. (TCO 2) In the first month of operations, the total of the debit entries to the
cash account amounted to $700 and the total of the credit entries to the cash
account amounted to $300. The cash account has a _________
12. (TCO 2) A trial balance would only help in detecting which one of the following
errors?

13. (TCO 3) From an internal control standpoint, the asset most susceptible to
improper diversion and use is _________
14. (TCO 3) Ron Jones has been a trusted employee for over 10 years. He is
responsible for ordering merchandise inventory, receiving the inventory
items, and authorizing the payment for these items. Which internal control
principle, if any, is being violated?
15. (TCO 3) A check written by the company for $167 is incorrectly recorded by a
company as $176. On the bank reconciliation, the $9 error should be _________


DEVRY ACCT 301 Week 2 Quiz.pdf - page 1/3
DEVRY ACCT 301 Week 2 Quiz.pdf - page 2/3
DEVRY ACCT 301 Week 2 Quiz.pdf - page 3/3

Related documents


PDF Document devry acct 301 week 2 quiz
PDF Document devry acct 301 week 2 quiz
PDF Document acc 561 week 1 assignment wiley plus
PDF Document acc 561 week 1 assignment wiley plus
PDF Document acc 561 week 1 assignment wiley plus
PDF Document chapter 1 homework end ch problems


Related keywords