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and Bookkeeping Career Perform better at your current job Refresh your skills to re-enter the workforce Pass your accounting class Understand your small business finances Watch the Video

How to Advance Your Accounting and Bookkeeping Career Perform better at your current job Refresh your skills to re-enter the workforce Pass your accounting class Understand your small business finances Watch the Video

? Allowance For Doubtful Accounts Wrong. Accounts Receivable Wrong. Bad Debts Expense Right! 26. Sorting a company's accounts receivable into classifications such as current, 1-30 days past due, and 31-60 days past...

” in SG&A represents Select... Secondary Selling Stock 21. Generally a current asset is expected to turn to cash within one year of the date of the balance sheet. Select... True False 22. In addition to the balance...

at the beginning of the current period. Contractual Wrong. Coupon Wrong. Market Right! 15. A bond's maturity value is more likely to be its __________. Issue Price Wrong. Par Amount Right! 16. A 12% $100,000 bond...

Our Explanation of Accounting Equation (or bookkeeping equation) illustrates how the double-entry system keeps the accounting equation in balance. You will see how the revenues and expenses on the income statement are...

and Bookkeeping Career Perform better at your current job Refresh your skills to re-enter the workforce Pass your accounting class Understand your small business finances Watch the Video

will be __________. Select... overstated understated 21. The inventory cost flow that results in the most recent costs being matched first with sales of the current accounting period is __________. Select... FIFO LIFO...

to Advance Your Accounting and Bookkeeping Career Perform better at your current job Refresh your skills to re-enter the workforce Pass your accounting class Understand your small business finances Watch the Video

Maturity value Par value 29. A bond sinking fund that consists of only cash and short-term government securities will be reported under which balance sheet heading? Select... Current assets Investments 30. A new 9% bond...

Our Explanation of Inventory and Cost of Goods Sold will take your understanding to a new level. You will see how the income statement and balance sheet amounts are affected by the various inventory systems and cost flow...

... direct indirect 21. Under the indirect method, the current period’s amortization expense will appear as a __________ amount in the operating activities section of the statement of cash flows. Select... negative...

-Watch Video Learn How to Advance Your Accounting and Bookkeeping Career Perform better at your current job Refresh your skills to re-enter the workforce Pass your accounting class Understand your small business finances...

Our Explanation of Standard Costing uses an easy-to-relate to example for illustrating a manufacturer's standard costs and variances. Also provided is a chart which indicates each variance, what it tells you, and where...

Our Explanation of Bonds Payable covers the recording of bonds, the accrual of interest expense, and the amortization of the discount and premium on bonds payable. You gain an understanding on why the market value of...

margin of 30% to arrive at the required sales of $373,333. Mark the Quiz as Complete Must-Watch Video Learn How to Advance Your Accounting and Bookkeeping Career Perform better at your current job Refresh your skills to...

Must-Watch Video

Learn How to Advance Your Accounting and Bookkeeping Career

  • Perform better at your current job
  • Refresh your skills to re-enter the workforce
  • Pass your accounting class
  • Understand your small business finances
Watch the Video

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Certificate - Debits and Credits
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Certificate - Financial Statements
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Certificate - Income Statement
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Certificate - Payroll Accounting

About the Author

Harold Averkamp

For the past 52 years, Harold Averkamp (CPA, MBA) has
worked as an accounting supervisor, manager, consultant, university instructor, and innovator in teaching accounting online. He is the sole author of all the materials on AccountingCoach.com.

Learn More About Harold

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Certificates of Achievement

We now offer 10 Certificates of Achievement for Introductory Accounting and Bookkeeping:

  • Debits and Credits
  • Adjusting Entries
  • Financial Statements
  • Balance Sheet
  • Income Statement
  • Cash Flow Statement
  • Working Capital and Liquidity
  • Financial Ratios
  • Bank Reconciliation
  • Payroll Accounting
Badges and Points
  • Work towards and earn 30 badges
  • Earn points as you work towards completing our course
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