ACC 290 Final Exam Guide - New - 95289

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Question 1 Jackson Company recorded the following cash transactions for the year: Paid $135,000 for salaries. Paid $60,000 to purchase office equipment. Paid $15,000 for utilities. Paid $6,000 in dividends. Collected $245,000 from customers.
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Question 1
 Jackson Company recorded the following cash transactions for the year:
 
Paid $135,000 for salaries.
Paid $60,000 to purchase office equipment.
Paid $15,000 for utilities.
Paid $6,000 in dividends.
Collected $245,000 from customers.
 
Question 2
 Which of the following describes the classification and normal balance of the Unearned Rent Revenue account?
 
Question 3
 Posting
 
Question 4
 The following is selected information from L Corporation for the fiscal year ending October 31, 2014.
 
Cash received from customers $300,000
Revenue earned 390,000
Cash paid for expenses 170,000
Cash paid for computers on November 1, 2013 that will be used for 3 years 48,000
Expenses incurred including any depreciation 216,000
 
Question 5
 La More Company had the following transactions during 2013.
 Sales of $4,500 on account
 Collected $2,000 for services to be performed in 2014
 Paid $1,325 cash in salaries
 Purchased airline tickets for $250 in December for a trip to take place in 2014
 
 
Question 6