By Kenneth Boyd
Get on top of things quickly—review and perform significant thoughts in accounting!
Whether you are looking to enhance your lecture room event, or just turn into extra acquainted with accounting suggestions, 1,001 Accounting perform difficulties For Dummies is the hands-on instrument you want to get a step forward. The book's perform questions and overview content material pass hand-in-hand with the content material provided in Accounting For Dummies, making sure that you've a operating wisdom of crucial techniques and abilities in accounting.
This useful source can provide entry to lots of priceless on-line content material, together with perform difficulties in multiple-choice layout, and customizable perform units for self-directed examine, all to be had at the plow through your cellphone, computer, or capsule. perform difficulties are categorised as effortless, medium, or not easy, so that you can construct your wisdom at your individual speed. an ideal significant other for an individual seeking to elevate their accounting talents, this ebook has the additional benefit of supplying evaluate and perform helpful for people trying to go their accounting classes and lay the basis for an accounting career.
- Filled with perform questions, assessment content material, assistance, and motives for somebody attracted to accounting principles
- Includes lots of on-line perform content material, corresponding to a number of selection questions and customizable perform units, all on hand with buy of the book
- Ideal for people trying to cross an accounting category or begin a profession in accounting
- Serves as a very good spouse source to Accounting For Dummies
Packed with unending perform possibilities, 1,001 Accounting perform difficulties For Dummies has every little thing you must jumpstart your trip into accounting and fiscal documentation.
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Additional info for 1,001 Accounting Practice Problems For Dummies
38. Al LaMode Ice Cream Company produces high-quality ice cream that is distributed to shops in resort areas. On July 1, the company purchased the raw materials to make the ice cream. On July 15, the process was complete, and the product was stored in the freezer ready to ship to customers. On July 31, Ken and Mary’s Ice Cream Shop ordered 200 pounds of ice cream. On August 1, Al LaMode delivered the ice cream to Ken and Mary’s Ice Cream Shop. Ken and Mary paid Al LaMode on August 10. Ken and Mary sold all the ice cream between August 5 and August 12.
209. Which of the following is not a source of income for a company? sales revenue service revenue liability income interest income investment income 210. How is investment income reported? 211. What makes the sales returns and allowances account a contra account? 212. A company receives returns from customers totaling $3,000 and refunds the cash to the customers. What is the proper journal entry for this transaction? 213. When customers pay with credit cards, the seller records revenue in the amount of sale less the credit card fees a receivable cash equal to the amount of sale the credit card fee as a credit revenue for the full sales amount before the credit card fee amount 214.
What are the total liabilities at the end of the first year? 30. The owners of a start-up invest $50,000 into the business. After one year of operations, the business has assets of $350,000 and liabilities of $200,000. How much profit or loss did the business generate during the first year? Cash-basis Accounting versus Accrual-basis Accounting 31–52 31. What is the main characteristic of cash-basis accounting? 32. What is the main characteristic of accrual-basis accounting? 33. What is the primary difference between cash-basis and accrual-basis accounting?
1,001 Accounting Practice Problems For Dummies by Kenneth Boyd