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D102 Financial Accounting WGU
D102 Financial Accounting WGU What information is contained in a balance sheet? -CORRECT ANSWER- Report of a company's financial position as of a point in time. What is an owners' equity item? Accounts receivable Loans payable Capital stock Cash -CORRECT ANSWER- Capital Stock A company ended July with assets of $150,000 and owner's equity of $60,000. What is the amount of liabilities at the end of July? -CORRECT ANSWER- $90,000 What is reported in a multiple-step income sta...
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D102 Financial Accounting WGU What information is contained in a balance sheet? -CORRECT ANSWER- Report of a company's financial position as of a point in time. What is an owners' equity item? Accounts receivable Loans payable Capital stock Cash -CORRECT ANSWER- Capital Stock A company ended July with assets of $150,000 and owner's equity of $60,000. What is the amount of liabilities at the end of July? -CORRECT ANSWER- $90,000 What is reported in a multiple-step income sta...