Cash
$ 35,000
Accounts receivable
50,000
Inventory
70,000
Prepaid insurance
40,000
$165,000
Stock investments
80,000
Land
95,000
Buildings
$100,000
Less: Accumulated
depreciation
(30,000)
85,000
Trademarks
70,000
Total assets
$535,000
Accounts payable
Salaries and wages payable
Mortgage payable
Total liabilities $ 65,000
10,000
90,000
Common stock
Retained earnings
Total stockholders‘ equity
Total liabilities and
stockholders‘ equity $120,000
250,000
$370,000
$535
· Question 25
Which of the following is the least likely consideration that management uses when
deciding whether to pay a dividend?
ACC 556 - Midterm part 2
· Question 1
Which of these would cause the inventory turnover ratio to increase the most?
· Question 2
Bad Debt Expense is considered
· Question 3
A trial balance proves
· Question 4
Fehr Company sells merchandise on account for $5,000 to Kelly Company with credit
terms of 2/10, n/30. Kelly Company returns $1,000 of merchandise that was damaged,
along with a check to settle the account within the discount period. What is the amount of
the check?
· Question 5
A revenue generally
· Question 6
A merchandiser will earn an operating income of exactly $0 when
· Question 7
Smithson Corporation‘s unadjusted trial balance includes the following balances (assume
normal balances):
Accounts Receivable
$3,357,000
Allowances for Doubtful Accounts
$ 63,900