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 recital info. ___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 grudge activities relevant to the company. ___R___Summarizing stinting 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 tierce situations, enjoin if the accounting method used is correct or incorrect. If correct, disclose which tenet or assumption supports the method used. If incorrect, post which principle or assumption has been violated. E1-5 Meredith Cleaners has the following labyrinthine sense woodworking plane items.

Accounts payable-Liability Accounts receivable-As mark Cash-Assets Notes payable-Liability Cleaning equipment-Asset Salaries payable-Liability Cleaning supplies-Asset Common stock-Stockholders law --------------------------------------------------------------------------------------------------------------------- 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 Dividends during 2008 6,000 Rent s! et down 10,400 Service revenue 62,500 Utilities expense 3,100 Salaries expense 30,000 Income program line revenue Service Revenue: $62,500 --------------------------------------------------------------------------------------------------------------------- Exercise E1-13 Instructions after analyzing the data, dress an income statement...If you want to get a full essay, target it on our website: BestEssayCheap.com

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