Activity
A principle that requires f being closed or sold e,
expected to yield
The distribution of assets to stockholders. Another term for equity.
Learning Objective Ch2-A1 15.
5
A) Assets Common Stock B) Cash and Land Common Stock
$200,000
$200,000
$200,000 $200,000 $70,000 130,000 $200,000
Cash Land Common Stock D) Common Stock Cash Land E) Common Stock Assets
$200,000
$70,000 130,000
$200,000
Learning Objective Ch2-C2 16. Include the ledger. Source documents: B) Are the sources of accounting information C) Must be in electronic form. D) Are based on accounting entries. E) Include the chart of accounts. Learning Objective: Ch2-C3 Unearned revenues are: A) Revenues that have been earned and received in cash B) Revenues that have been earned but not yet collected in cash C) Liabilities created when a customer pays in advance for products or services before they are delivered D) Recorded as an asset in the accounting records. E) Increases to retained earnings.