.) What are the four types of adjusting entries? Provide an example of each one.

6.) What are the journal entries for the seller of inventory (for the sale, for a return, and payment within the discount period)?

7.) Describe the difference between current and long-term liabilities.

8.) What is the journal entry to record cash received in advance of performing a service or delivering a product?

9.) What are the three important dates for a cash dividend? What is the journal entry required for each date? What is the overall impact of a cash dividend on the accounting equation (assets = liabilities + stockholders' equity)?

10.) Calculate net cash provided by operating activities.

11.) Name the 3 major business activities and be able to identify which activities belong to each category.

12.) Prepare an Income Statement, Statement of Stockholders' Equity, Balance Sheet and Statement of Cash Flows.