ACC 290 Course Experience Tradition tutorialrank.com

For more course tutorials visit<br>www.tutorialrank.com<br>ACC 290 Finals<br>Question 1<br>Jackson Company recorded the following cash transactions for the year:<br>Paid $135,000 for salaries.<br>Paid $60,000 to purchase office equipment.<br>Paid $15,000 for utilities.<br>Paid $6,000 in dividends.<br>Collected $245,000 from customers.<br> Question 2<br>Which of the following describes the classification and normal balance of the Unearned Rent Revenue account?<br>Question 3<br>Posting<br>Question 4<br>The following is selected information from L Corporation for the fiscal year ending October 31, 2014.<br>Cash received from customers $300,000<br>Revenue earned 390,000<br>Cash paid for expenses 170,000<br>Cash paid for computers on November 1, 2013 that will be used for 3 years 48,000<br>Expenses incurred including any depreciation 216,000<br> Question 5<br>La More Company had the following transactions during 2013.<br>• Sales of $4,500 on account<br>• Collected $2,000 for services to be performed in 2014<br>• Paid $1,325 cash in salaries<br>• Purchased airline tickets for $250 in December for a trip to take place in 2014<br> Question 6<br>Which one of the following is not a justification for adjusting entries?<br>

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