Outline Q Describe the purpose of adjusting accounts at the end of the period Q Prepare and explain adjusting entries for prepaid expenses, amortization, unearned revenues, accrued expenses, and accrued revenues。 C Explain how accounting adjustments link to financial statements Q Explain and prepare an adjusted trial

L. True and False Questions Decision making is a distinct management activity that should be separated from budgeting, directing, and controlling activities. (F) 2. The concept of the relevant range does not apply to fixed costs. (F) 3. A cost formula may not be valid outside the relevant range of activity ( T) 4. The high-low method is generally less accurate than the least-squares regression method for

Task Team of FUNDAMENTAL ACCOUntING hool of Business, Sun Y at-sen University Lesson 9 Financial Statements excises 1. The following financial statement information is known about five separate proprietorships Company Company Company Company Company December 31. 2001

Task Team of FUNDAMENTAL ACCOUntING hool of Business, Sun Y at-sen University Lesson 12 Internal Controls and Business ethics Exercise Lacy Leggs Lingerie had the following petty cash transactions in April of the current year

Task Team of FUNDAMENTAL ACCOUntING hool of Business, Sun Y at-sen University Lesson 12 Internal Controls and Business ethics Self-Test True or False 1. The accounts receivable subsidiary ledger controls the accounts receivable account in the genel

Task Team of FUNDAMENTAL ACCOUntING hool of Business, Sun Y at-sen University Lesson 10 Understanding and Using financial Statements Exercise Short answer questions 1. What are the possible decisions that can be made with the use of financial analysis? Answer: Share investment decisions. This

ask Team of FUNDAMENTAL aCcoUnting School of Business Sun Yat-sen Universit Lesson 10 Understanding and Using financial Statements What type of analysis is indicated by the following? Percent Current assets

Task Team of FUNDAMENTAL ACCOUntING hool of Business, Sun Y at-sen University Lesson 9 Financial Statements Self-Test 1. True or Fals 1) Financial statements are standard documents that tell us, in financial terms, how well a

ACCOUntING hool of Business, Sun Y at-sen University Lesson 7 Merchandise Inventories and cost of sales Exercise Calculation and Analyzing Problems 1. The perpetual inventory records of LIBY HOUSEHOLD show 150 units of a particular

Task Team of FUNDAMENTAL ACCOUntING hool of Business, Sun Y at-sen University Lesson 7 Merchandise Inventories and Cost of sales I. True and false Questions The inventory of a merchandising company may include manufactured products, but not