ACC210 Ch2 P

ACC210 Ch2 P - Chapter 2 Problem Set 1, 3, 4 1. Yahoo, Inc....

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Chapter 2 Problem Set 1, 3, 4 1. Yahoo, Inc. Balance Sheet December 31, 2004 Assets Current Assets Cash $823,723 Short Term Investments 2,688,252 Accounts Receivable 483,951 Prepaid Expenses 94,549 Long-Term Investments 1,042,575 Property Plant and Equipment PPE 531,696 Intangible Assets 3,031,623 Other Assets 481,832 Total Assets $9,178,201 Liabilities and Stockholder’s Equity Current Liabilities Accounts Payable 48,205 Unearned Revenue 279,387 Other Curr Liab 853,115 Long-Term Liabilities Long-term Debt 750,000 Other Long Term Liabilities 146,048 Stockholders’ Equity Common Stock 5,684,300 Retained Earnings 1,417,146 Total Liab and Equity $9,178,201 3. Maxim Enterprises Income Statement For Year Ended April 30, 2007 Revenues 3,600 Expenses Cost of Goods Sold 990 Depreciation Exp. 335 Income Tax Exp. 165 Interest Exp. 400 Selling Exp. 210 Wages Exp. 700
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(2,800) Net Income 800 Maxim Enterprises Retained Earnings Statement For Year Ended April 30, 2007 Retained Earnings (Beg) 1,600 Add: Net Income
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ACC210 Ch2 P - Chapter 2 Problem Set 1, 3, 4 1. Yahoo, Inc....

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