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    Quiz 1 - Accounting #2: Instructions: Write The Number of Each Item in The Appropriate Section(s) of The Appropriate

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    Jamie Woods
    This document provides instructions for a quiz on accounting. It lists items 1-8 and indicates whether each item increases or decreases various financial statements including the income statement, balance sheet, and cash flow statement. Students must write the number of each item in the appropriate section and indicate if it is an increase or decrease. The document also provides context that the items relate to a waste and recycling business owned by the student.

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    Quiz 1 - Accounting #2: Instructions: Write The Number of Each Item in The Appropriate Section(s) of The Appropriate

    Uploaded by

    Jamie Woods
    76 views1 page
    This document provides instructions for a quiz on accounting. It lists items 1-8 and indicates whether each item increases or decreases various financial statements including the income statement, balance sheet, and cash flow statement. Students must write the number of each item in the appropriate section and indicate if it is an increase or decrease. The document also provides context that the items relate to a waste and recycling business owned by the student.

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    KeyEC314Q12

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    This document provides instructions for a quiz on accounting. It lists items 1-8 and indicates whether each item increases or decreases various financial statements including the income statement, balance sheet, and cash flow statement. Students must write the number of each item in the appropriate section and indicate if it is an increase or decrease. The document also provides context that the items relate to a waste and recycling business owned by the student.

    Copyright:

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

    Quiz 1 - Accounting #2: Instructions: Write The Number of Each Item in The Appropriate Section(s) of The Appropriate

    Uploaded by

    Jamie Woods
    This document provides instructions for a quiz on accounting. It lists items 1-8 and indicates whether each item increases or decreases various financial statements including the income statement, balance sheet, and cash flow statement. Students must write the number of each item in the appropriate section and indicate if it is an increase or decrease. The document also provides context that the items relate to a waste and recycling business owned by the student.

    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 No Pass Name: 5

    1 6

    2 7

    3 8

    Quiz 1 - Accounting #2
    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 Operating Revenue: 5 up, 6 up Balance Sheet Assets: 1 up, 3 up and down, 4 down, 6 up and down, 8 up and down Cash Flow Operations: 2 down, 4 down (Optional), 5 up, 6 up, 7 down

    Operating Expenses: 2 up, 4 up (Optional), 7 up

    Liabilities: 1 up, 4 down

    Investment: 1 down, 3 down, 8 up

    Taxable Income: Owner Equity: Net Income: Net Cash Flow: You own a waste and recycling business. Most of your site is set up for composting. 1. 2. 3. 4. 5. 6. 7. 8. You need a new bulldozer to move around piles of compost. Take out a loan and buy it. Friends of Trees asks for a donation and you give them $300. You get a new shipment of propane for your forklifts. You pay cash on delivery. Make a loan payment on the mortgage you took out to buy the land. You raise dumping fees from $20 a truck to $25 a truck and still get the same number of trucks. You make a delivery to a large client and issue them an invoice. (HARD) Your property taxes went up again. Time to recycle the old backhoe. Sell it to the used equipment shop for cash. Finance: 1 up, 4 down, 6 down

    New Revenue Asset Definitions

    Balance Sheet MUST balance!

    Sign Conventions

    Cash Flow Echo

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