Chapter 1 AND 2 Exercises - CHAPTERS 1 AND 2 EXERCISE...

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CHAPTERS 1 AND 2 EXERCISE PROBLEMS STUDENT’S NAME: _Hawa Gray-Smith____ Chapter 1 Exercises – 1, 2, 5, 7, 9, 10, 13 EXERCISE 1-1 1. F 2. I 3. O 4. F 5. O 6. O 7. I EXERCISE 1-2 1. Company Management 2. Stockholder 3. Labor Union 4. Securities and Exchange Commission 5. Banker 6. Supplier 7. Internal Revenue Service EXERCISE 1-5 1. The Owners’ Equity at the end of the year would be _____$45,000____________ 2. The Assets at the beginning of the year would be _____$30,000_____________ 3. The liabilities at the end of the year would be _____$60,000_______________ ASSETS LIABILITIETS OWNERS’ EQUITY 100,00 0 80,000 20,000 +25,000 45,000 ASSETS LIABILITIETS OWNERS’ EQUITY 60,00 40,000 20,000 ASSETS LIABILITIETS OWNERS’ EQUITY 30,000 60,000 10,000
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CHAPTERS 1 AND 2 EXERCISE PROBLEMS STUDENT’S NAME: _Hawa Gray-Smith____ EXERCISE 1-7 (See attached Excel worksheet) EXERCISE 1-9 Appears on the Classified as Trade and other receivables, net BS L Class A common stock BS SE Inventories BS A Admissions I R Cost of concessions I E Equipment BS A Accounts payable BS L Retained earnings BS SE Interest expense, net I E Long-term debt, less current portion BS L
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