DEVRY ACCT 251 Week 6 Quiz

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DEVRY ACCT 251 Week 6 Quiz

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• (TCO 1) The balance sheet lists assets,
  liabilities, and capital of a business.revenues
  and expenses of a business.the percentage of
  revenue at the end of the year.the percentage of
  debt at the end of the year.cash disbursements.
• Question 2. Question (TCO 1) The Income
  Statements net income or (net loss) is also
  shown on the income statements revenue
  section.balance sheets capital
  section.departmental gross profit totals.cash
  balance at the end of the period.general ledger
  trial balance.

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• Question 3. Question (TCO 1) To use Peachtrees
  masking feature, do the following to an account
  number. Add a prefix.Add a suffix.Add an
  account number.Change the account in the general
  journal.Change the account type.
• Question 4. Question (TCO 2) The sample company
  chart of accounts that you use as the model for
  Chapter 9s business is accounting
  practice.general contractor.gift shop.service
  company.retail company.Question 5. Question
• (TCO 2) The chart of accounts is the accounts
  shown on the income statement.the accounts shown
  on the balance sheet.a list of accounts in the
  general ledger.a list of accounts in the general
  journal.a list showing account beginning
  balances.

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• Question 6. Question (TCO 2) The account type
  for Account No. 3920 (Vernon Firestone) or your
  name capital is cash.equity-gets
  closed.equity-doesnt close.retained
  earning.other current liabilities.
• Question 7. Question (TCO 3) In Chapter 11, the
  ______________________________ is completed
  before recording and posting the end-of-quarter
  adjusting entries. adjusted trial balance
• cash disbursements journalunadjusted trial
  balancecash receipts journalpost-closing trial
  balance
• Question 8. Question (TCO 3) To print a
  post-closing trial balance, you need to select
  Tasks System, change accounting periods.select
  Reports Forms Accounts Receivable, print
  reports.select Options Default
  Information.select Help About Peachtree
  Accounting.close the fiscal year, then print a
  trial balance.

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