ACCT 201 Case Fall 2022 Question 1: Identify each term defined below Page 3 Obligations that the company expects to pay aher one year. 2 The four financial statements are 3 Cost of assets consumed or services used in the process of earning 4 5. 6 7 revenue. List of general ledger accounts and their balances at a given time Revenues, expenses, gains and losses that are unrelated to the company's main operations Process of allocating the cost of a plant asset to expense over its useful lide A sability recorded when a company receives payment from a customer before the goods/services are provided. Question 2: Determine the missing amount in the basic accounting equation for each of the following 1 X $350,000 $45,500 2 $65,000 X +$21,000 3. $289,000 $142.000 + X Question 3: Determine the missing amount in the expanded accounting equation for each of the following Liabilities Com.Stk Beg. R/E + Revenues-Expenses - Dividends Assets 1. $196,000 $85,000 +$80,000+ $16,000 $60,000-$25,000 - X 2 $148,000- x +$75,000+ $56,000 +$45,000 $36,000-$28.000 3 $240,000 $115,000 +$62,000 +$45,000 +$72,000- x $30,000