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Summary Journal entries Accounting (bookkeeping) $3.85   Add to cart

Summary

Summary Journal entries Accounting (bookkeeping)

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Journal entries for the accounting profession. 1/4 of the examination thus consists of the preparation of journal entries super convenient to know these by heart!

Preview 1 out of 7  pages

  • Yes
  • December 25, 2014
  • 7
  • 2014/2015
  • Summary
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Available practice questions

Flashcards 21 Flashcards
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Some examples from this set of practice questions

1.

Earnings Per Share

Answer: (Net Income Available to Common Shareholders)/(Weighted Average number of Common Shares Outstanding)

2.

Working Capital

Answer: current assets-current liabilities

3.

Current Ratio

Answer: current assets/current liabilities

4.

Acid Test

Answer: (cash + accounts receivable)/current liabilities

5.

Turnover ratio

Answer: Sales/Average assets

6.

Accounts receivable turnover

Answer: Sales/Average accounts receivable

7.

Days' sales in accounts receivable

Answer: accounts receivable at year end/average days' sales

8.

Inventory Turnover

Answer: COGS/Average inventories

9.

Days' sales in inventory

Answer: inventory at year end/average days' cost of goods sold

10.

Plant and equipment turnover

Answer: sales/average plant and equipment

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