ACC 2010 Week 4 Assignment 2\t\t\u00a0\tMultiple Choice Questions:\u00a0\t1. In Part 2 of the book, you complete monthly accounting for which type of business?\tCorporate form of business.\tMerchandising business.\tManufacturing business.\tService business.\tNone of the above.\t2. Which type of accounting method does Mark Foltz Designer use?\tCash basis accounting.\tAccrual accounting.\tPCA does not require you to make a choice.\tThere is no difference between cash basis and accrual accounting.\tNone of the above.\t\u00a0\t3. Mark Foltz’s business type is a:\tCorporation.\tPartnership.\tSole proprietorship.\tNon-profit.\tNone of the above.\t\u00a0\t4. What chart of accounts did you select for Mr. Foltz’s chart of accounts?\tAccounting firm.\tMerchandising company.\tNon-profit business.\tService Company.\tNone of the above.\t\u00a0\t5. Mr. Foltz uses which type of posting method?\tBatch posting.\tReal-time posting.\tThere is no need to post his books.\tPCA does not require you to make a posting choice.\tNone of the above.\t\u00a0\t6. You can restore data by making which menu bar selection?\tFile; Restore.\tTasks; Backup.\tMaintain; Restore.\tMaintain; Backup.\tNone of the above.\t\u00a0\t7. The correct file name for backing up Mark Foltz Designer, the chart of accounts, and the October 1, 2012 beginning balances is:\tChapter 9 Chart of Accounts October.\tChapter 9 Beginning Balances.\tchap9.\tchap7.\tNone of the above.\t\u00a0\t8. Peachtree assigns the following shortened company name to Mark Foltz Designer:\tCompany.\tPeachtree.\tmarfolde.\tSage Software.\tNone of the above\t\u00a0\t9. The account type of Account No. 3920, Mark Foltz, Capital (or your name, Capital) is:\tCash.\tEquity-gets closed.\tEquity-doesn’t close.\tCurrent assets.\tNone of the above.\t\u00a0\t10. When saving an Excel 2007 or 2010 file, the file extension is:\tdocx\txlsx\tpdf\tptb\tNone of the above.\t\u00a0\tShort-Answer Questions:\u00a0\t\u00a0\tIn Chapter 10, what source documents are used to complete M r. Foltz’s accounting? Include the month in your answer.\u00a0\t\u00a0\tThe file restored to begin Chapter 10 is\u00a0_\t\u00a0\tTo make sure you are starting in the appropriate place in the data, display this financial statement:\u00a0\t\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0\u00a0\tThe Receipts window is also known as this journal\u00a0_\t\u00a0\tThe Write Checks window is also known as this journal\u00a0_\t\u00a0\tWhen the Receipts window is used, what account is automatically debited? (Identify the account number and name.)\u00a0\t\u00a0\tWhen the Write Checks window is used, what account is automatically credited? (Identify the account number and name.)\u00a0\t\u00a0\tExplain Peachtree’s account reconciliation feature. Define bank reconciliation.\u00a0\t\u00a0\tWhat does the term transaction register refer to?\u00a0\t\u00a0\tThe transaction register shows payments and deposits. What are two examples of payments, and what Peachtree window is used? What Peachtree window is used to record deposits?\u00a0\t\u00a0\tTrue\/Make True:\u00a0\t\u00a0\tYou can\u00a0complete the activities in Chapter 11 without completing Chapters 9 and 10. (Yacht, 2011, p. 407)\t\u00a0\tStep 4 of PCA’s Computer Accounting Cycle is reconciling the bank statement.\u00a0\t\u00a0\tTo change an accounting period, use the\u00a0\u00a0menu. (Yacht, 2011, p. 410)\t\u00a0\tMark Foltz’s transaction register and bank statement are used as source documents for recording journal entries.\u00a0\t\u00a0\tThe account reconciliation feature can reconcile the cash account only.\u00a0\t\u00a0\tThe accounting periods used in Chapter 11 are November 1 – 30 and December 1 – 31, 2012.\u00a0\t\u00a0\tPCA includes an editing feature so that records can be corrected.\u00a0\t\u00a0\tTo close the fiscal year, use the System menus election, Year-End Wizard.\u00a0\t\u00a0\tWhen the fiscal year is closed, an adjusted trial balance is displayed or printed.\u00a0\t\u00a0\tThe statement of retained earnings and the post closing trial balance show the same balance for retained earnings.<\/p>\n","protected":false},"excerpt":{"rendered":"
ACC 2010 Week 4 Assignment 2 \u00a0 Multiple Choice Questions:\u00a0 1. In Part 2 of the book, you complete monthly accounting for which type of business? Corporate form of business. Merchandising business. Manufacturing business. Service business. None of the above. Read More …<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-199426","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/199426","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/comments?post=199426"}],"version-history":[{"count":0,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/199426\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/media?parent=199426"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/categories?post=199426"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/tags?post=199426"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}