Ac550 Final

1. (TCO A) Listed below argon some(prenominal) development characters and considering dogmas and assumptions. flout the letter of each with the appropriate wording that states its application. (Points: 30) Matching: firmness of map : Historical cost doctrine : Going concern regulation : Matching principle : pecuniary unit : Revenue recognition principle might Matches: 1: Stable vaulting horse assumption 2: Notes as part of necessary development to a fair presentation. 3: Earnings process faultless and realized or realizable. 4: Valuing assets at amounts originally paying for them. 5: the impact of an lead-in on the overall fiscal operations of a company. 6: Accruals and deferrals in adjusting and closing process (Do non use going concern). 7: Affairs of the business lofty from those of its owners. 8: Presentation of error-free learning with representational faithfulness 9: Business enterprise humbug to have a coherent life. 10: Cost of providing monetary information versus the benefits derived from its use. : Full divine revelation principle : Reliability quality : Cost-benefit relationship : Materiality reserve : Economic entity assumption 2. (TCO B) Adjusting Entries: unearned tide rip at 1/1/10 was $10,300 and at 12/31/10 was $6,000.

The records delegate cash receipts from carry sources during 2010 amounted to $50,000, all of which was credited to the Unearned Rent Account. You are to receive the missing adjusting entry. For each daybook entry write Dr for debit and Cr for credit. (Points: 10) 3. (TCO B) Adjusting Entries: Data relating to the balances of respective(a) delineates affected by adjusting or closing entries appear below. (The entries which caused the changes in the balances are not feastn.) You are asked to give the missing journal entries which would logically account for the changes in the account balances. Interest due at 1/1/10 was $5,000. During 2010 cash received from debtors for interest group on outstanding notes receivable amounted to...If you want to get a full essay, order it on our website: Orderessay

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