Question 4
In order for information to be relevant, it must be reported on a monthly basis.
Question 5
For accounting purposes, business transactions should be kept separate from the
personal transactions of the stockholders of the business
Question 6
In a classified balance sheet, assets are usually classified as
Question 7
Equipment is classified on the balance sheet as
Question 8
Use the following data to determine the total dollar amount of assets to be
classified as current assets.
Question 9
N3 Corporation has assets of $3,000,000, common stock of $780,000, and retained
earnings of $475,000. What are the creditors’ claims on their assets?
Question 10
The following information is available for Bradshaw Corporation and Newell
Corporation:
Based on this information, the earnings per share calculations (rounded to two
decimals)
Question 11
Reporting a net income of $95,000 will
Question 12
Based on the following data, what is the amount of current assets?
Accounts payable………………………………………………………..
$62,000
Accounts receiva ble……………………………………………………..
100,000