Question: I need help solving these problems for accounting PROBLEM # 1 - Match the following terms with the appropriate definition. _ A 1. An information
I need help solving these problems for accounting


PROBLEM # 1 - Match the following terms with the appropriate definition. _ A 1. An information and measurement system that identifies, records, and communicates an organization's business activities. 2. The part of accounting that involves recording transactions and events. 3. Persons using accounting information who do not directly run the organization and have limitec access to its accounting information. 4. Persons using accounting information who directly manage the organization. 5. The area of accounting that serves the decision-making needs of internal users. 6. The area of accounting focused on serving external users by providing them with generalpurpose financial statements. 7. Accounting specialists that have met educational and experience requirements, passed an examination and exhibit ethical characteristics to achieve a professional certification. 8. Beliefs that distinguish right from wrong, considered accepted standards of good and bad behavior. 9. A model that shows three factors that push a person to commit fraud. 10. Resources such as cash that an owner puts into the company. 11. A financial ratio computed as net income divided by average total assets. 12. Creditor's claims on a company's assets. 13. Decreases in equity from costs of providing products or services to customers. 14. Outflows of cash and other assets to owners for personal use. 15. Resources a company owns or controls that are expected to yield future benefit. 16. Expresses the relation of assets, liabilities, and equity in a company. Problem #2 - Preparing Financial Statements From the information given below, prepare a November income statement, a November statement of owner's equity, and a November 30 balance sheet. On November 1 of the current year, Victoria Garza began Garza Dcor with an initial investment of $50,000 cash. On November 30 , her records showed the following (alphabetically arranged) items and amounts. Remember to include headings on each of the financial statements. (Note: your ending Owner's Equity should equal $63,950). Short answer questions. Answer the following questions in your own words. Feel free to look them up in the book but please re-word them in your own words to show you understand what you are saying I advise against googling answers for this class because not all internet answers are in the same format or use the same terminology as your author, and that is why I suggest you look them up in your text or listen for the answers in the lecture videos. Always answer these types of questions in complete sentences and paragraphs. 2 - Business owners and managers can find the answer to many questions by looking at the financial statements. Write out three questions that can be answered by looking at the financial statements and explain where in the statements you would find the answer. PROBLEM # 1 - Match the following terms with the appropriate definition. _ A 1. An information and measurement system that identifies, records, and communicates an organization's business activities. 2. The part of accounting that involves recording transactions and events. 3. Persons using accounting information who do not directly run the organization and have limitec access to its accounting information. 4. Persons using accounting information who directly manage the organization. 5. The area of accounting that serves the decision-making needs of internal users. 6. The area of accounting focused on serving external users by providing them with generalpurpose financial statements. 7. Accounting specialists that have met educational and experience requirements, passed an examination and exhibit ethical characteristics to achieve a professional certification. 8. Beliefs that distinguish right from wrong, considered accepted standards of good and bad behavior. 9. A model that shows three factors that push a person to commit fraud. 10. Resources such as cash that an owner puts into the company. 11. A financial ratio computed as net income divided by average total assets. 12. Creditor's claims on a company's assets. 13. Decreases in equity from costs of providing products or services to customers. 14. Outflows of cash and other assets to owners for personal use. 15. Resources a company owns or controls that are expected to yield future benefit. 16. Expresses the relation of assets, liabilities, and equity in a company. Problem #2 - Preparing Financial Statements From the information given below, prepare a November income statement, a November statement of owner's equity, and a November 30 balance sheet. On November 1 of the current year, Victoria Garza began Garza Dcor with an initial investment of $50,000 cash. On November 30 , her records showed the following (alphabetically arranged) items and amounts. Remember to include headings on each of the financial statements. (Note: your ending Owner's Equity should equal $63,950). Short answer questions. Answer the following questions in your own words. Feel free to look them up in the book but please re-word them in your own words to show you understand what you are saying I advise against googling answers for this class because not all internet answers are in the same format or use the same terminology as your author, and that is why I suggest you look them up in your text or listen for the answers in the lecture videos. Always answer these types of questions in complete sentences and paragraphs. 2 - Business owners and managers can find the answer to many questions by looking at the financial statements. Write out three questions that can be answered by looking at the financial statements and explain where in the statements you would find the
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