ACCOUNTING. Accounting Name of the Student: Name of the

Running head: ACCOUNTING
Accounting
Name of the Student:
Name of the University:
Authors Note:

ACCOUNTING
1
Table of Contents
Accounting Principle:.................................................................................................................2
Accounting Quiz:.......................................................................................................................3
True and False:...........................................................................................................................3
Bibliography:..............................................................................................................................5

ACCOUNTING
2
Accounting Principle:
1. (2) $1,274
2. (1) $11,000
3. (3) $439,000
4. (4) $1,920
5. (4) $5,350
6. (4) 6.0 and 61 days
7. (1) $94,000
8. (2) $97,600
9. (1) Original cost
10. (2) $35,000
11. (4) Overstated by $70,000
12. (4) Decreasing the amount of inventory on hand and increasing cost of goods sold
13. (2) Debt investment, Gain on Sale of debt investments, and Bond interest receivable
14. (3) a reduction of an asset of $5,000 in the current assets section and an unrealised loss of
$5,000 in “Other expenses and losses”.
15. (3) Debit Market Adjustment—Available-for-Sale for $2,400 and credit Unrealized Gain
or Loss—Equity for $2,400
16. (2) Creates a $10,000 debt balance