ACC 290 Week 1 Wiley Plus Assignments - Do It Review 1-3...

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Do It! Review 1-3 Marsh Corporation began operations on January 1, 2014. The following information is available for Marsh Corporation on December 31, 2014. Accounts payable $ 9,010 Notes payable $ 15,020 Accounts receivable 6,010 Rent expense 14,010 Advertising expense 4,480 Retained earnings ? Cash 7,110 Service revenue 33,020 Common stock 19,010 Supplies 5,910 Dividends 6,510 Supplies expense 1,220 Equipment 30,810 Don't show me this message again for the assignment Your answer is correct. Prepare an income statement for Marsh Corporation. Don't show me this message again for the assignment Your answer is correct.
Prepare a retained earnings statement for Marsh Corporation. (List items that increase retained earnings first.) Don't show me this message again for the assignment Your answer is correct. Prepare a balance sheet for Marsh Corporation. ( List assets in order of liquidity.)
$ Liabilities and Stockholders' Equity $ $ $ res_EAT_135046 Total Assets 49,840 res_EAT_135046 Liabilities Accounts Pay 9,010 Notes Payable 15,020 res_EAT_135046 Total Liabilities 24,030 res_EAT_135046 Stockholders' Equity Common Stock 19,010 Retained Earn 6,800 res_EAT_135046
$ Exercise 1-3 Your answer is correct. The Clear View Golf & Country Club details the following accounts in its financial statements. (a) Classify each of the following accounts as an asset, liability, stockholders’ equity, revenue, or expense item. (b) Classify each of the following accounts as a financing activity, investing activity, or operating activity. (a) (b) Accounts payable Accounts receivable Equipment Sales revenue Service revenue Total Stockholders' Equity 25,810 res_EAT_135046 Total Liabilities and Stockholders' Equity 49,840 EAT_1338287867 Liability EAT_1338287867 Operating activity EAT_1338287867 Asset EAT_1338287867 Operating activity EAT_1338287867 Asset EAT_1338287867 Investing activity EAT_1338287867 Revenue EAT_1338287867 Operating activity EAT_1338287867 EAT_1338287867
Inventory Mortgage payable Supplies expense Rent expense Salaries and wages expense Exercise 1-4 This information relates to Molina Co. for the year 2014. Retained earnings, January 1, 2014 $75,817 Advertising expense 2,037 Dividends 6,790 Rent expense 11,769 Service revenue 65,633 Utilities expense 2,716 Salaries and wages expense 33,948 Revenue

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