Question 2.2. (TCO A) Dividends flow through which one of the following statements?(Points : 5)The Balance SheetThe Statement of Retained EarningsThe Income StatementNone of the aboveQuestion 3.3. (TCOs A and B) Below is a partial list of account balances for LBJCompany.Cash$12,000Prepaid rent1,300Accounts receivable7,000Accounts payable5,000Notes payable9,000Common stock22,000Dividends2,000Revenues45,000Expenses35,000What did LBJ Company show as total debits? (Points : 5)$57,300$81,000$55,300$56,000Question 4.4. (TCO B and E) Under cashbasis accounting, which of the followingtransactions would not be recorded? (Points : 5)Cash sales to customers Payments to vendorsSales on accountPayroll payments to employeesQuestion 5.5. (TCO D) If ending inventory of the current year is understated (Points : 5)Cost of goods sold for the current year will be understatedGross profit for the current year will be unaffectedGross profit for the current year will be understatedNet income for the current year will be overstatedQuestion 6.6. (TCO A and E) Equipment was purchased for $27,000. Freight chargesamounted to $1,000 and there was a cost of $5,000 for building a foundation andinstalling the equipment. It is estimated that the equipment will have a $5,000 salvagevalue at the end of its 7year useful life. Depreciation expense each year using thestraightline method will be _____. (Points : 5)$4,714$4,000$3,857$3,285Question 8.8. (TCO C) Which inventory accounting system does not require a physicalcount of the inventory at the year end? (Points : 5)Periodic inventory systemPerpetual inventory systemSpecific IdentificationNone of the aboveQuestion 10.10. (TCO F) When performing a commonsize balance sheet, the 100%figure is _____. (Points : 5)net salestotal liabilities total assetstotal equityQuestion 11.11. (TCO F) Ratios are most useful in expressing _____. (Points : 5)causeandeffect relationshipsthe relationships between numbersthe delta between numbersthe root cause of the problemQuestion 12.12. (TCO F) Creditors are usually most concerned with analyzing _____.(Points : 5)the company stock priceturnoverliquidityprofitabilityQuestion 13.13. (TCO F) Shareholders are usually most interested in evaluating _____.(Points : 5)profitabilityleverageturnoverthe ability to pay debts as they come dueQuestion 14.14. (TCO G) To calculate the market value of a bond, we need to _____.(Points : 5)multiply the stated rate times the bond’s face valuecalculate the present value of the principal onlycalculate the present value of both the principal and the interestcalculate the present value of the interest only
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.
Read moreEach paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.
Read moreThanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.
Read moreYour email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.
Read moreBy sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.
Read more