HW_3 - Name Class time 8:00 9:30 12:30 DUE at beginning of...

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Name: ___________________________ Class time:   8:00         9:30        12:30     DUE at beginning of class on February 14     th        No late assignments accepted     Accounting 200 Homework #3 – PRETEST for exam 1 (10 points) Record your answers to all questions on this page and turn in only this sheet at the beginning  of class.  We will grade your answers from this page and you may keep the accompanying  work sheets to study for Exam 1. 1.  Gross profit is  __________________ 2.  Net income is  ___________________ 3.  Current assets are  ___________________ 4.  Ending retained earnings is  ___________________ 5.  Ending Cash balance ___________________ 6.  Net income for 2006 ___________________ 7. Value of Common Stock ___________________ 8. Total of debit balances ___________________ 9. Accounts found on balance sheet _____________________________________________ 10. Accounts found on the income statement _____________________________________________
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Use the following trial balance to answer question 1 through 4:   Bikini Bottom Trial Balance    12/31/07 Dr. Cr. Cash 13,000 Accounts Receivable 10,000 Supplies 3,000 Inventory 15,000 Prepaid Insurance 2,000 Land 9,000 Building 69,000 Equipment 5,000 Accumulated Depreciation 7,000 Accounts Payable 5,000 Unearned Revenues 1,000
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