BM II Unit 6 CSA #1

Required

1

What is the accounting equation

Owners Equity = Capital + Assets

Assets = Liabilities + Owners Equity

Assets = Liabilities + Capital

Liabilities = Owners Equity - Assets

Required

1

How is accounts payable classified in regards to the accounting equation

Owners/Stockholders Equity

Assets

Revenue

Liabilities

BM2.8

Required

1

How is accounts receivable classified in regards to the accounting equation

Owner's Equity

Liabilities

Assets

Revenue

BM2.8

Required

1

During the month Computer King purchased supplies for $1,350 from a supplier agreeing to pay in the near future - Computer King would regard this transaction as

Accounts receivable

Account purchases

Account revenue

Accounts payable

BM2.8

Required

1

Computer King received a check from a client for the invoice/bill sent to the client last week. This affects what account?

Accounts payable

Accounts receivable

Account purchases

Account revenue

BM2.8

Required

1

Computer King is paying the invoice it received from Office Max for previously purchased supplies. How would this transaction be recorded in Computer Kings accounting documents?

cash + / Office Max AR +

cash- / Office Max AP -

supplies - / Office Max AP -

supplies + / Offices Max AP +

BM2.8

Required

1

Computer King received a check from Paradise Honors for services performed on the computers at the high school last month. How would this transaction be recorded in Computer King account docs

PHHS AR + / Accounts Payable +

cash + / PHHS AR -

cash - / PHHS AR +

PHHS AR - / Accounts Payable -

BM2.8

Required

1

Any resource owned or controlled by a business/property regarded as having value

Revenue

Assets

Owners Equity

Liability

Required

1

Something a person or company owes/debt - usually money

owners equity

revenue

liability

assets

Required

1.5

BM2.5

Required

1

How do you calculate a vertical financial analysis on an Balance Sheet

divide everything by Net Cash Operating Activity

divide everything by Net Income

divide everything by Total Assets

divide everything by Total Revenue/Sales

BM2.5

Required

1

BM2.5

Required

0.5

Required

0.5

Required

0.5

Required

0.5

Required

0.5

Required

0.5

BM II Unit 6 CSA #1

What is the accounting equation

How is accounts payable classified in regards to the accounting equation

How is accounts receivable classified in regards to the accounting equation

During the month Computer King purchased supplies for $1,350 from a supplier agreeing to pay in the near future - Computer King would regard this transaction as

Computer King received a check from a client for the invoice/bill sent to the client last week. This affects what account?

Computer King is paying the invoice it received from Office Max for previously purchased supplies. How would this transaction be recorded in Computer Kings accounting documents?

Computer King received a check from Paradise Honors for services performed on the computers at the high school last month. How would this transaction be recorded in Computer King account docs

Any resource owned or controlled by a business/property regarded as having value

Something a person or company owes/debt - usually money

How do you calculate a vertical financial analysis on an Balance Sheet

What is the accounting equation

How is accounts payable classified in regards to the accounting equation

How is accounts receivable classified in regards to the accounting equation

During the month Computer King purchased supplies for $1,350 from a supplier agreeing to pay in the near future - Computer King would regard this transaction as

Computer King received a check from a client for the invoice/bill sent to the client last week. This affects what account?

Computer King is paying the invoice it received from Office Max for previously purchased supplies. How would this transaction be recorded in Computer Kings accounting documents?

Computer King received a check from Paradise Honors for services performed on the computers at the high school last month. How would this transaction be recorded in Computer King account docs

Any resource owned or controlled by a business/property regarded as having value

Something a person or company owes/debt - usually money

What are components of an Balance Sheet

How do you calculate a vertical financial analysis on an Balance Sheet

How do you complete BOTH calculations for a horizontal financial analysis on financial statements

What is A

What is B (round to the nearest whole number)

What is D

What is E (round to the nearest whole number)

What is F

What is G (round to the nearest whole number)

What is A

What is B (round to the nearest whole number)

What is D

What is E (round to the nearest whole number)

What is F

What is G (round to the nearest whole number)