D102 Financial Accounting WGU EXAM
QUESTIONS AND VERIFIED ANSWERS
2026(GRADED A+) DETAILED ANSWERS!!
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Terms in this set (52)
What information is contained in a Report of a company's financial position as of a
balance sheet? point in time.
What is an owners' equity item? Capital Stock
Accounts receivable
Loans payable
Capital stock
Cash
A company ended July with assets $90,000
of $150,000 and owner's equity of
$60,000.
What is the amount of liabilities at
the end of July?
What is reported in a multiple-step Gross Profit
income statement that is not
reported in a single-step income
statement?
How is gross profit computed? Sales minus cost of goods sold.
, The following are some accounts Sales, cost of goods sold, and income tax
from a company's financial expense.
statements:
(accounts receivable, cost of goods
sold, cash, retained earnings, sales,
inventory, income tax expense,
accounts payable)
Which set is a list of all of the items
that are used in computing this
company's net income?
What cash flow category contains Financing
activities whereby cash is obtained
from or repaid to owners or
creditors?
Here are some financial statement Cash paid for dividends and cash received as
items for the year for a company. new investment from owners.
Cash received from customers
Cash received from the sale of land
Cash paid for dividends
Cash paid to employees for wages
Cash paid to purchase a new
building
Cash paid for rent
Cash received as new investment
from owners
Which set of items is a list of items
that are used in computing the
company's financing cash flow for
the year?
QUESTIONS AND VERIFIED ANSWERS
2026(GRADED A+) DETAILED ANSWERS!!
Save
Terms in this set (52)
What information is contained in a Report of a company's financial position as of a
balance sheet? point in time.
What is an owners' equity item? Capital Stock
Accounts receivable
Loans payable
Capital stock
Cash
A company ended July with assets $90,000
of $150,000 and owner's equity of
$60,000.
What is the amount of liabilities at
the end of July?
What is reported in a multiple-step Gross Profit
income statement that is not
reported in a single-step income
statement?
How is gross profit computed? Sales minus cost of goods sold.
, The following are some accounts Sales, cost of goods sold, and income tax
from a company's financial expense.
statements:
(accounts receivable, cost of goods
sold, cash, retained earnings, sales,
inventory, income tax expense,
accounts payable)
Which set is a list of all of the items
that are used in computing this
company's net income?
What cash flow category contains Financing
activities whereby cash is obtained
from or repaid to owners or
creditors?
Here are some financial statement Cash paid for dividends and cash received as
items for the year for a company. new investment from owners.
Cash received from customers
Cash received from the sale of land
Cash paid for dividends
Cash paid to employees for wages
Cash paid to purchase a new
building
Cash paid for rent
Cash received as new investment
from owners
Which set of items is a list of items
that are used in computing the
company's financing cash flow for
the year?
