Concept – Shareholders’ Equity
Financial Accounting and Intermediate Accounting
Spiceland, Nelson, and Thomas and Spiceland, Thomas, and Herrman
05th Edition, 06th Edition, and 10th Edition
What makes up shareholders equity for a corporation?
Concept – Supplies Accounting Equation Effects
Financial Accounting and Intermediate Accounting
Spiceland, Nelson, and Thomas and Spiceland, Thomas, and Herrman
05th Edition, 06th Edition, and 10th Edition
What is the effect on the accounting equation from using supplies (previously debited as an asset is):
Concept – System Types
Financial Accounting and Intermediate Accounting
Spiceland, Nelson, and Thomas and Spiceland, Thomas, and Herrman
05th Edition, 06th Edition, and 10th Edition
What type of system integrates info of department functions of a firm into computer system and common database
Concept – T/F Banking
Financial Accounting and Intermediate Accounting
Spiceland, Nelson, and Thomas and Spiceland, Thomas, and Herrman
05th Edition, 06th Edition, and 10th Edition
In banking, a customer account would be credited when cash is deposited because that account is a liability to the bank. T/F
Concept – T/F Permanent Accounts
Financial Accounting and Intermediate Accounting
Spiceland, Nelson, and Thomas and Spiceland, Thomas, and Herrman
05th Edition, 06th Edition, and 10th Edition
Permanent accounts are closed at end of accounting period. T/F
Concept – Temporary Accounts
Financial Accounting and Intermediate Accounting
Spiceland, Nelson, and Thomas and Spiceland, Thomas, and Herrman
05th Edition, 06th Edition, and 10th Edition
Which are temporary accounts? (retained earnings, salary expense, accounts payable, sales revenue)
Concept – Transaction
Financial Accounting and Intermediate Accounting
Spiceland, Nelson, and Thomas and Spiceland, Thomas, and Herrman
05th Edition, 06th Edition, and 10th Edition
A transaction is an event that has what effect?
Concept – Transaction Effects Hargrave
Financial Accounting and Intermediate Accounting
Spiceland, Nelson, and Thomas and Spiceland, Thomas, and Herrman
05th Edition, 06th Edition, and 10th Edition
Hargrave Group does legal services on account. Determine the effect of the transaction on the equation for Hargrave Professional Group?