Acct 221 week 4 quiz Study guides, Class notes & Summaries

1. Question : (TCO 1) The Accounting Equation is used to develop the organization's financial reports. (1) Describe what liabilities value would be if Assets are $50,000 and Owners' Equity is $25,000 by showing the Accounting Equation (10 points) and (2) provide an example of two liability accounts. (10 points) Question 2. Question : (TCO 1) The financial statements present a company to the public in financial terms. (1) Which financial statement requires input from the Income Statement and ...

ACCT 221ACCT 221 Week 4 - Quiz