Accounting 280 Week 2 Questions

Week 2: E1-1,E1-5,E1-12,E1-13,E2-2,E2-3,E7-3 ECO/212 E1-1 Urlacher Company performs the following accounting tasks during the year. ___C___Analyzing and indication randomness. ___R___Classifying stinting events. ___C___Explaining uses, meaning, and limitations of data. ___R___Keeping a systematic chronological diary of events. ___R___Measuring events in dollars and cents. ___C___Preparing accounting reports. ___C___Reporting information in a standard format. ___I___Selecting account activities relevant to the company. ___R___Summarizing scotch events. Accounting is an information system that identifies, records, and communicates the economic events of an organization to interested users. Exercise E1-5 Instructions For each of the deuce-ace situations, enjoin if the accounting method used is correct or incorrect. If correct, disclose which tenet or assumption supports the method used. If incorrect, refer which principle or assumption has been violat ed. E1-5 Meredith Cleaners has the following equilibrise woodworking plane items.

Accounts payable-Liability Accounts receivable-As chasten Cash-Assets Notes payable-Liability Cleaning equipment-Asset Salaries payable-Liability Cleaning supplies-Asset Common stock-Stockholders fair play --------------------------------------------------------------------------------------------------------------------- Exercise E1-12 Instructions Determine the miss amounts. E1-12 The following information relates to Linda Stanley Co. for the year 2008. Retained earnings, January 1, 2008 $ 48,000 Advertising disbursal $ 1,800 D ividends during 2008 6,000 Rent set down 10! ,400 Service revenue 62,500 Utilities expense 3,100 Salaries expense 30,000 Income parameter revenue Service Revenue: $62,500 --------------------------------------------------------------------------------------------------------------------- Exercise E1-13 Instructions aft(prenominal) analyzing the data, dress an income statement...If you want to get a full essay, locate it on our website: BestEssayCheap.com

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