| |
$23,300
A company had revenue of $740,000, rent expense of $119,000, utility expense of $11,900, salary expense of $144,500, depreciation expense of $40,900, advertising expense of $42,100, dividends in the amount of $202,000, and an ending balance in retained earnings of $421,300. What is the beginning retained earnings for the period?
| |
$520,700 |
| |
$358,400 |
| |
$241,700 |
| |
$538,000 |
| |
$381,600
A company reported total equity of $146,000 on its December 31, 2008, balance sheet. The following information is available for the year ended December 31, 2009:
| 2009 Revenues |
$210,000 |
| 2009 Expenses |
179,000 |
| Liabilities, at December 31, 2009 |
97,000 |
What are the total assets of the company at December 31, 2009?
| |
$389,000. |
| |
$177,000. |
| |
$128,000. |
| |
$274,000. |
| |
$80,000.
Remix Recording Studios purchased $7,500 in electronic components from VisCom. Remix Recording Studios signed a 90 day, 9% promissory note for $7,500. VisCom’s journal entry to record the sales portion of the transaction is:
| |
| Accounts Receivable |
8,175 |
|
| Sales |
|
8,175 |
|
| |
| Notes Receivable |
8,175 |
|
| Sales |
|
8,175 |
|
| |
| Notes Receivable |
7,500 |
|
| Interest Receivable |
675 |
|
| Sales |
|
8,175 |
|
| |
| Accounts Receivable |
7,500 |
|
| Sales |
|
7,500 |
|
| |
| Notes Receivable |
7,500 |
|
| Sales |
|
7,500
|
|
|
|
| |
A company had inventory of 8 units at a cost of $16 each on June 1. On June 2, they purchased 7 units at $17 each. On June 6 they purchased 7 units at $21 each. On June 8, they sold 18 units for $54 each. Using the LIFO perpetual inventory method, what was the cost of the 18 units sold?
rev: 05_29_2013_QC_31108
| |
$378. |
| |
$355. |
| |
$330. |
| |
$392. |
| |
$251.
A company purchased merchandise inventory at a cost of $4,700 with credit terms 2/15, net 45. If the company elects to pay within the discount period, what would be the appropriate journal entry?
rev: 09_26_2011
| |
| Accounts payable |
4,700 |
|
| Merchandise inventory |
|
4,700 |
|
| |
| Accounts payable |
4,700 |
|
| Merchandise inventory |
|
94 |
| Cash |
|
4,606 |
|
| |
| Merchandise inventory |
4,700 |
|
| Accounts payable |
|
4,700 |
|
| |
| Accounts payable |
4,606 |
|
| Cash |
|
4,606 |
|
| |
| Purchase discount |
4,606 |
|
| Accounts payable |
|
4,606
|
|
|
|
|
