Cogs 178 Study guides, Class notes & Summaries

COGS 178 Midterm 2 Review 2024

General Journal - ANSWER-where each transaction is initially recorded, in debit-and-credit language. It can be thought of as a chronological description of events. account - ANSWER-The impact of all of these events is summarized by sorting each debit and each credit, by the item affected, and copying all debits and credits impacting an item into one place, called an General Ledger - ANSWER-The collection of all of the accounts in a company's accounting system is called the A chronologi...

Liberty University ACCT 370 Exam 1 Complete solution Liberty University ACCT 370 Exam 1 Complete solution 100% satisfied: solutions 1. 1. 2. A 3-for-1 stock split will reduce the per share par value and will 3. 4. 5. 2. 6. accounting errors or irregularities can occur for what reason? 7. 8. 9. 3. 10. Accrual accounting net income can differ from operating cash flows for all of the following reasons except: A) future pension and healthcare benefits. B) estimates of uncollectible accou...

Exam (elaborations) Liberty University ACCT 370 Exam 1 Complete solution Liberty University ACCT 370 Exam 1 Complete solution 100% satisfied: solutions 1. 1. 2. A 3-for-1 stock split will reduce the per share par value and will 3. 4. 5. 2. 6. accounting errors or irregularities can occur for what reason? 7. 8. 9. 3. 10. Accrual accounting net income can differ from operating cash flows for all of the following reasons except: A) future pension and healthcare benefits. B) estimates of...