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15. The GL Sales Account wall is:
Account No. 44200.
Account No. 44300.
Account No. 44400.
Account No. 40200.
None of the above.
Exercise 7-1
Exercise 7-2
True/Make True Questions
Peachtree automatically calculates financial statements once journal
entries have been journalized and posted.
In Chapter 7, you printed three financial statements.
The statement of cash flow is roughly the same thing as a balance
sheet.
The balance sheet lists the revenues and expenses of the business.
The income statement is a summary of the revenue and expenses of a
company for a period of time, such as an accounting period for a year.
The financial statements printed by Peachtree reflect month-to-date
amounts only.
The financial statements are interrelated.
The term standard refers to financial statements that are designed by
the company.
Bellwether Garden Supply showed a net loss for the current month,
March 31, 2012.
The statement of changes in financial position derives its information
from the income statement.
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ACC 2010 Week 4 Assignment 2
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