Discuss The War Powers Act of 1973 The War Powers Act of 1973 restricted the ability of the president to do which of the following? (A) Lower the minimum age required to serve in the military to sixteen (B) Send more than 5,000 troops into combat without congressional approval (C) Keep troops in combat for more than 90 days without congressional approval (D) Appeal to […]

Tax laws and spending bills questions Which of the following conclusions can be drawn from the data above? (A) There are currently more justices on the Supreme Court appointed by Democrats than by Republicans. (B) Over the last 100 years, the Supreme Court has been dominated by conservative thinkers. (C) Republican presidents have had more opportunities to nominate justices to the Supreme Court than Democratic […]

The basic steps in the recording process Explain what an account is and how it helps in the recording process. 2 Define debits and credits and explain their use in recording business transactions. 3 Identify the basic steps in the recording process. 4 Explain what a journal is and how it helps in the recording process. 5 Explain what a ledger is and how it […]

Assessing revenue account help Which of the following statements about an account is true? (a) In its simplest form, an account consists of two parts. (b) An account is an individual accounting record of increases and decreases in specific asset, liability, and stockholders’ equity items. (c) There are separate accounts for specific assets and liabilities but only one account for stock- holders’ equity items. (d) […]

The order of ledger account questions The order of the accounts in the ledger is: (a) assets, revenues, expenses, liabilities, common stock, dividends. (b) assets, liabilities, common stock, dividends, revenues, expenses. (c) common stock, assets, revenues, expenses, liabil- ities, dividends. (d) revenues, assets, expenses, liabilities, common stock, dividends. 10. A ledger: (a) contains only asset and liability accounts. (b) should show accounts in alphabetical order. […]

Advantages of journal in the recording process For the following transactions, indicate the account debited and the account credited. (a) Supplies are purchased on account. (b) Cash is received on signing a note payable. (c) Employees are paid salaries in cash. 9. Indicate whether the following accounts generally will have (a) debit entries only, (b) credit entries only, or (c) both debit and credit entries. […]

Reasons for adjusting entries assignment Explain the time period assumption. 2 Explain the accrual basis of accounting. 3 Explain the reasons for adjusting entries. 4 Identify the major types of adjusting entries. 5 Prepare adjusting entries for deferrals. 6 Prepare adjusting entries for accruals. 7 Describe the nature and purpose of an adjusted trial balance. Having a hard time figuring out how to do your […]

Depreciation expense assignment help How does the time period assumption affect an accountant’s analysis of business transactions? (b) Explain the terms fiscal year, calendar year, and interim periods. 2. State two generally accepted accounting principles that relate to adjusting the accounts. 3. Gabe Corts, a lawyer, accepts a legal engagement in March, performs the work in April, and is paid in May. If Corts’ law […]

The process of closing the books questions Learning Objectives After studying this chapter, you should be able to: 1 Prepare a worksheet. 2 Explain the process of closing the books. 3 Describe the content and purpose of a post-closing trial balance. 4 State the required steps in the accounting cycle. 5 Explain the approaches to preparing correcting entries. 6 Identify the sections of a classified […]

Order of reversing entry and adjusting entry f a company’s revenues are $125,000 and its expenses are $113,000, in which financial statement columns of the worksheet will the net income of $12,000 appear? When expenses exceed revenues, in which columns will the difference appear? 5. Why is it necessary to prepare formal financial state- ments if all of the data are in the statement columns […]