ACC 556 STR help A Guide to career/uophelp.com ACC 556 STR help A Guide to career/uophelp.com | Page 3

Question 7
The accounting equation may be expressed as
Question 8
Which of the following activities involves collecting the necessary funds
to support the business?
Question 9
Which of the following is an asset?
Question 10
Which of the following would not be considered an external user of
accounting data for the Julian Company?
Question 11
Ashley’s Accessory Shop started the year with total assets of $140,000
and total liabilities of $80,000. During the year the business recorded
$220,000 in revenues, $110,000 in expenses, and dividends of $40,000.
The net income reported by Ashley’s Accessory Shop for the year was
Question 12
Stockholders’ equity is comprised of
Question 13
Marvin Services Corporation had the following accounts and balances:
If the balance of the Buildings account was $42,000 and $3,000 of
Accounts Payable were paid in cash, what would be the balance of the
total stockholders' equity?
Question 14
All of the following are interrelationships that are important to
understand when preparing financial statements except
Question 15