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Anonymous asked in Education & ReferenceHomework Help · 7 years ago

Please, help me find the good answers to ACC 290 Final Guide 30 Questions. Thanks!?

1) Which financial statement is used to determine cash generated from operations?

2) In terms of sequence, in what order must the four basic financial statements be prepared?

4) An increase in an expense account must be

5) ABC Corporation issues 100 shares of $1 par common stock at $5 per share, which of the following is the correct journal entry?

6) In the first month of operations, the total of the debit entries to the cash account amounted to $1,400 and the total of the credit entries to the cash account amounted to $600. The cash account has a

7) Which ledger contains control accounts?

8) Smith is a customer of ABC Corporation. Smith typically purchases merchandise from ABC on account. Which ledger would ABC use to keep track of the details of Smith’s account?

9) Under the cash basis of accounting,

10) Under the accrual basis of accounting,

11) The Vintage Laundry Company purchased $6,500 worth of laundry supplies on June 2 and recorded the purchase as an asset. On June 30, an inventory of the laundry supplies indicated only $2,000 on hand. The adjusting entry that should be made by the company on June 30 is


29) The custodian of a company asset should

30) The Sarbanes Oxley Act (2002) applies to

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