1.
A company has
Liabilities of $23,500 and Stockholdersâ Equity of $56,500. How much does the
company have in Assets?.5in; margin-bottom:.0001pt;text-indent:-.25in;line-height:16.8pt;mso-list:l0=”” level1=”” lfo1;=”” vertical-align:baseline”=””>2.
Beginning Retained
Earnings are $65,000; sales are $29,500; expenses are $33,000; and dividends
paid are $3,500. How much is the net income or loss for the company?.5in;>.5in; margin-bottom:.0001pt;text-indent:-.25in;line-height:16.8pt;mso-list:l0=”” level1=”” lfo1;=”” vertical-align:baseline”=””>.5in;>.5in; margin-bottom:.0001pt;text-indent:-.25in;line-height:16.8pt;mso-list:l0=”” level1=”” lfo1;=”” vertical-align:baseline”=””>3.
TheaccountâSalaries Expenseâ began with a zero
balance and then had the following changes: increase of $450, decrease of $175,
increase of $600, and an increase of $350. What is the final balance of the
âSalaries Expenseâ account, and is it a debit orcredit?.5in; margin-bottom:.0001pt;text-indent:-.25in;line-height:16.8pt;mso-list:l0=”” level1=”” lfo1;=”” vertical-align:baseline”=””>4.
A $375 purchase of
supplies on account was recorded by debiting Supplies for $375 and crediting
Cash for $375. What is the journal entry needed to correct thiserror?.5in;>.5in;>.5in; margin-bottom:.0001pt;text-indent:-.25in;line-height:16.8pt;mso-list:l0=”” level1=”” lfo1;=”” vertical-align:baseline”=””>.5in; margin-bottom:.0001pt;text-indent:-.25in;line-height:16.8pt;mso-list:l0=”” level1=”” lfo1;=”” vertical-align:baseline”=””>.5in;>.5in;>.5in; margin-bottom:.0001pt;text-indent:-.25in;line-height:16.8pt;mso-list:l0=”” level1=”” lfo1;=”” vertical-align:baseline”=””>.5in; margin-bottom:.0001pt;text-indent:-.25in;line-height:16.8pt;mso-list:l0=”” level1=”” lfo1;=”” vertical-align:baseline”=””>5..5in;>.5in;> Allied, Inc. bought a
two-yearinsurance
policyon August 1 for
$3,600. What is the adjusting journal entry on December 31?——-25.River City, Inc. reported the following for
2014:
What are the earnings per share for River City, Inc. (to the nearest cent)?
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