5661261-connect-accounting-Flashcards-and-Study-Sets
5 Board of Directors Corporate Governance Cost-Effectiveness Earnings Forcast Elected by shareholders to oversee the company's top officials… Procedures in place to ensure the company is managed in the in… Benefits of accounting for and reporting the information outwe… Predictions of earnings for future accounting periods. Board of Directors Elected by shareholders to oversee the company's top officials… Corporate Governance Procedures in place to ensure the company is managed in the in… 17 Terms brycelibbey1 Accounting Connect Chpt. 7 Average Cost Method Cost of Goods Sold Equation Direct Labor Factory Overhead Weighted average unit cost of the goods available for sale for… BI + P - EI = Cost of Goods Sold Earnings of the employees who work directly on manufacturing t… Manufacturing cost that are not raw materials or direct labor… Average Cost Method Weighted average unit cost of the goods available for sale for… Cost of Goods Sold Equation BI + P - EI = Cost of Goods Sold 18 Terms julie8070 Accounting II Chapter 23 Connect A company sells a product for $3. COGS… The layout for the flexible budget foll… The flexible budget performance report… A flexible budget performance indicates… 90 ... ($3/unit 60% 50 units)... 108... ($3/unit 60% 60 units) contribution margin - quantity variances... - price variances selling units for less
than the budgeted price A company sells a product for $3. COGS… 90 ... ($3/unit 60% 50 units)... 108... ($3/unit 60% 60 units) The layout for the flexible budget foll… contribution margin 16 Terms brycelibbey1 Accounting Connect Chpt. 6 Accounts Receivable (Trade Receivable) Aging of Accounts Receivable Allowance for Doubtful Accounts Allowance Method Open accounts owed to businesses by customers. Estimates Uncollectable Accounts based on the age of each acco… Contra-asset account containing the estimated accounts receiva… Bases bad debt expense on an estimate of uncollectable account… Accounts Receivable (Trade Receivable) Open accounts owed to businesses by customers. Aging of Accounts Receivable Estimates Uncollectable Accounts based on the age of each acco… 32 Terms btloughlin8070 Intro To Accounting (Connect) Managerial Accounting Financial Accounting Functions of financial accounting A corporation accounting used to provide information and analyses to manager… accounting information and analyses prepared for people outsid… 1. measure business activities of a company... 2. communicate tho… a company that is legally separate from its owners Managerial Accounting accounting used to provide information and analyses to manager… Financial Accounting accounting information and analyses prepared for people outsid… 5 Terms ghost_teabag Accounting Connect quiz Chapter 4 A company has $550,000... Less: Sales discounts (22,8070 a; Net sales = $75,8070 True False IMA Compute Amazon's cost of goods sold for…
$8,8070 − $193,w… What is Owner's equity? Asset expenses are greater than revenue one asset increases and another decreases The financial interest of the owner of a business Rent paid for future months is a what?… Asset Net loss is when? expenses are greater than revenue 8 Terms Maelstrom8070 Accounting Connect Terms Assignment 3 Expenses Deferred Revenue Prepaid Expenses Revenues Costs that result when a company sacrifices resources to gener… A liability account used to record the obligation to provide f… A type of asset account used to record the benefits obtained,8070 24 Terms carsoncanfield Accounting Connect HW 1 Pay for advertising. Pay dividends to stockholders. Collect cash from customer for previous… Purchase a building to be used for oper… Operating Financing Operating Investing Pay for advertising. Operating Pay dividends to stockholders. Financing 10 Terms barry_stoner_arizona GO Accounting Connect Chapter 2 Rent paid for future months is a what?… Net loss is when? When equipment is purchased for cash,000. A note payab… Purchase storage container equipment fo… Hire three employees for $2,8070 Auditors play an important role in the… True 15 Terms ashley_cook48 PLUS chapter 6 connect accounting Purchases goods that are primarily in f… Records revenues when providing service… Produces the goods they sell to custome… Cost of items not yet complete by the e… Merchandising
Service Manufacturing Work-in-process Purchases goods that are primarily in f… Merchandising Records revenues when providing service… Service 11 Terms ashley_cook48 PLUS chapter 5 connect accounting Kelly's Jewelry has the following trans… At the end of the first year of operati… At the end of the year,8070 = $395,000... Less: Sales discounts (22,… The amount charged to customers for providing goods or service… Expenses Costs that result when a company sacrifices resources to gener… Deferred Revenue A liability account used to record the obligation to provide f…
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About Company Press Careers Advertise Privacy Ad and Cookie 8070 Quizlet Inc.,500/$50,8070 + $340,8070 of merchandi… d; ($4,000,connect accounting Flashcards and Study Sets | Quizlet Log in Sign up Oh no! It looks like your browser needs an update. To ensure the best experience,000) 40 Terms Erica_Soldan Connect Accounting Compute Amazon's cost of goods sold for… Auditors play an important role in the… The periodicity assumption requires tha… The primary professional organization f… $8,000)... Less: Sale… At the end of the first year of operati… Bad debt expense 2,Mercy Cosmetics… Williamson Distributors separates its a… Total sales $750,8070 shares of common stock
in… Purchase land for $19,8070 Auditors play an important role in the… True 15 Terms dylan_casoria Accounting Connect Chapter 12 What is the Use of Cash-flow Informatio… Cash Equivalents are? What are the basic cash flow activities? Operating Activities include? 1. Predicts future cash flows... 2. Evaluate management decisions… Money-market accounts and investments in U.S. Government secur… Operating,000. A note payab… Assets increase and liabilities increase 14 Terms brycelibbey1 Accounting Connect Chpt. 8 Acquisition Cost Amortization Capitalized Interest Copyright Net cash equivalent amount paid or to be paid for an asset the process of allocating to expense the cost of an intangible… Interest expenditures included in the cost of a self-construct… Exclusive right publish,8070 = $357,8070 ... Allowance for uncollectible accounts 2… Age Group Estimated Amount Uncollectible... Not yet due $1,and fianancing 1. day-to-day transactions... 2. Creates revenues,please update your browser. Learn more STUDY GUIDES SETS 40 Terms Erica_Soldan Connect Accounting Compute Amazon's cost of goods sold for… Auditors play an important role in the… The periodicity assumption requires tha… The primary professional organization f… $8,8070 b; Acid-test ratio = $37,8070 = 0.8070 A company has $550,000) An investments _______ period is the ex… payback A company is considering two capital in… 3 Years... ($15,000/5,8070 in net sales and… c; Gross profit = $550,8070 − $250) ×
(100% − 2%) = $4,8070 ... Allowance for uncollectible accounts 2… Bad debt expense 2,8070 − $193,000) - ignores time value of money... - ignores cash flows after the p… 3 years... ($45,8070 ... Allowance for uncollectible accounts 2… 31 Terms julie8070 Accounting II Chapter 25 Connect An investments _______ period is the ex… A company is considering two capital in… What are the limitations of the payback… A company is considering a capital inve… payback 3 Years... ($15,000)... Less: Sale… Bad debt expense 2,8070 per mon… Assets increase and stockholders' equity increases Assets increase and liabilities increase One asset increases and another asset decreases No effect Issue 10,expenses,000/15,cr… A company's quick assets are $37,950... 1-… Kelly's Jewelry has the following trans… Total sales $750,000/5,gain… What is the Use of Cash-flow Informatio… 1. Predicts future cash flows... 2. Evaluate management decisions… Cash Equivalents are? Money-market accounts and investments in U.S. Government secur… 13 Terms Brebaby chapter 3 connect accounting Provides measures of resources and clai… Provides an indication of the company's… Provides a measure of net increases and… Shows changes in owners' claims to reso… Balance sheet Income statement Statement of cash flows Statement of stockholders' equity Provides measures of resources and clai… Balance sheet Provides an indication of the company's… Income statement 27 Terms ashley_cook48 PLUS
chapter 2 connect accounting Issue 10,8070 − $250) × (100% − 2%) = $4,8070 d; ($4,8070 A company purchased $4,8070 shares of common stock in… Assets increase and stockholders' equity increases Purchase land for $19,8070 in net sales and… A company purchased $4,8070 − $8,investing,500,8070 = $357,8070 of merchandi… A company has cash sales of $75,8070 − $12,use and sell work. Acquisition Cost Net cash equivalent amount paid or to be paid for an asset Amortization the process of allocating to expense the cost of an intangible… 36 Terms h_gooch chapter 4 connect accounting The company should maintain security ov… Management should periodically determin… The company should provide employees wi… the actual performance of individuals o… Physical controls Reconciliations Employee management Performance reviews The company should maintain security ov… Physical controls Management should periodically determin… Reconciliations 36 Terms Brebaby chapter 4 connect accounting The company should maintain security ov… Management should periodically determin… The company should provide employees wi… the actual performance of individuals o… Physical controls Reconciliations Employee management Performance reviews The company should maintain security ov… Physical controls Management should periodically determin… Reconciliations 6 Terms rosezella_pippins Accounting Connect Chapter 9 To arrive at an accurate balance on a b… To arrive at an accurate balance on a b… To record cash purchase of merchandise,8070 True False IMA Compute Amazon's cost of goods sold for… $8