thquiz1fall2008

thquiz1fall2008 - This quiz is due on September 3 2008...

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This quiz is due on September 3, 2008. Quizzes should be handed to the professor AT THE BEGINNING OF CLASS. Late quizzes will NOT BE ACCEPTED. The quizzes are to be handed in INDIVIDUALLY and IN CLEAR HANDWRITING. Please do not forget to PUT YOUR NAME on the quiz. Name TAKE HOME QUIZ #1 The list below shows the financial accounts of Kernel Mills, Inc. for the years 2007 and 2006. All the numbers are in millions of USD. The accounts are listed alphabetically and therefore not in the correct order. Account Name 2007 2006 Accounts payable 550,000 485,000 Accounts Receivable 690,000 630,000 Accrued Expenses 85,000 80,000 Accumulated Depreciation 800,000 700,000 Addition to Retained Earnings ? 131,500 Cash 175,000 155,000 Common stock 600,000 600,000 Common Stock Dividend 15,500 13,500 Cost of Goods Sold 3,285,00 0 3,014,000 Depreciation Expense ? 50,000 Interest Expense 116,500 101,000 Inventories 660,000 605,000 Long-term Debt 1,100,00 0 1,010,000 Net Sales 5,200,00 0 4,800,000 Notes Payable 400,000
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This note was uploaded on 09/08/2008 for the course BUAD 306 taught by Professor Selvili during the Fall '07 term at USC.

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thquiz1fall2008 - This quiz is due on September 3 2008...

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