Questions from Financial Accounting

Q: What are a few of the typical investing activities for a company

What are a few of the typical investing activities for a company like Caesars Entertainment, developer and operator of high end hotels and casinos?

Q: What are a few of the typical operating activities for a company

What are a few of the typical operating activities for a company like Oracle Corporation, one of the world’s leading suppliers of software for information management?

Q: What are the three major legal forms of business organizations? Which

What are the three major legal forms of business organizations? Which one is chosen by most of the largest companies in the United States?

Q: Explain the difference between external transactions and internal transactions. If a

Explain the difference between external transactions and internal transactions. If a company purchases supplies from a local vendor, would this be classified as an external or internal transaction?

Q: Suzanne knows that an increase to an expense reduces retained earnings (

Suzanne knows that an increase to an expense reduces retained earnings (a stockholders’ equity account). However, she also knows that expense accounts have a debit balance, while retained earnings nor...

Q: What is a journal? What is a journal entry?

What is a journal? What is a journal entry?

Q: Provide the proper format for recording a transaction.

Provide the proper format for recording a transaction.

Q: Explain the phrase “debits equal credits” with regard to journal

Explain the phrase “debits equal credits” with regard to journal entries.

Q: Record each of the following external transactions using debits and credits.

Record each of the following external transactions using debits and credits. a. Receive cash of $1,200 for providing services to a customer. b. Pay rent of $500 for the current month. c. Purchase a bu...

Q: Sanders Inc. is a small brick manufacturer that uses the direct

Sanders Inc. is a small brick manufacturer that uses the direct write-off method to account for uncollectible accounts. At the end of 2021, its balance for Accounts Receivable is $35,000. The company...