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ACCT 304 Week 2 Quiz

ACCT 304 Week 2 Quiz

1. (TCO 4) Current assets include cash and all other assets expected to become cash or be consumed

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2. (TCO 4) Rent collected in advance is

3. (TCO 4) Janson Corporation Co.’s trial balance included the following account balances at December 31, 2011:

What amount should be included in the current liability section of Janson’s December 31, 2011 balance sheet?

4. (TCO 4) Which of the following would be disclosed in the summary of significant accounting policies disclosure note?

5. (TCO 4) Below is the partial balance sheet ($ in thousands) for Paisano Seafood Inc.

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