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  • Quiz 1 - Accounting: Instructions: Write The Number of Each Item in The Appropriate Section(s) of The Appropriate

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    Jamie Woods
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    This document provides a quiz with instructions to indicate whether various business transactions would appear on the income statement, balance sheet, or statement of cash flows as either an increase or decrease. The transactions include hiring programmers, taking out an interest-free loan, paying for supplies with credit, issuing stock, purchasing advertising, making a loan payment, receiving an award, and gaining new clients from a speaking event. The key financial statements and accounts are listed for reference.

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    EC314AccountingQuizQ1-041612

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    This document provides a quiz with instructions to indicate whether various business transactions would appear on the income statement, balance sheet, or statement of cash flows as either an increase or decrease. The transactions include hiring programmers, taking out an interest-free loan, paying for supplies with credit, issuing stock, purchasing advertising, making a loan payment, receiving an award, and gaining new clients from a speaking event. The key financial statements and accounts are listed for reference.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    48 views1 page

    Quiz 1 - Accounting: Instructions: Write The Number of Each Item in The Appropriate Section(s) of The Appropriate

    Uploaded by

    Jamie Woods
    This document provides a quiz with instructions to indicate whether various business transactions would appear on the income statement, balance sheet, or statement of cash flows as either an increase or decrease. The transactions include hiring programmers, taking out an interest-free loan, paying for supplies with credit, issuing stock, purchasing advertising, making a loan payment, receiving an award, and gaining new clients from a speaking event. The key financial statements and accounts are listed for reference.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    of 1

    Pass

    2 7

    3 8

    No Pass 5 6 Name: http://youtu.be/nD6R5fHgdu4

    Quiz 1 - Accounting
    Instructions: Write the number of each item in the appropriate section(s) of the appropriate financial statements below and indicate whether it is an increase or decrease. Income Statement Balance Sheet Cash Flow Operating Revenue: Assets: Operations:

    Investment: Liabilities: Operating Expenses:

    Finance: Taxable Income: Owner Equity: Net Cash Flow: Net Income:

    You are the owner of a computer software company 1. You hire 50 new programmers to work for you 2. You take out a loan (interest free) in order to have extra cash on hand 3. An order of office supplies arrives, which you pay for with a credit card 4. Your company decides to issue 1,000 shares of stock 5. You purchase some advertising space on a popular image board website 6. You make a payment on your loan (interest free) 7. Your company receives a $500,000 award for one of your products. 8. You are featured as a speaker at a TED Talks conference, and the exposure brings in tons of new clients.

    New Revenue Asset Definitions

    Balance Sheet MUST balance!

    Sign Conventions

    Cash Flow Echo

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