ACC 556 Week 1 Quiz Your answer is incorrect. Windsor, Inc. started the month of June 2022 with total assets of $218000 and total liabilities of $113000. During June, the business recorded $329000 in revenues, $163000 in expenses, and dividends of $51000. Stockholders’ equity at the end of June was $220000.$130000.$205000.$163000. Wildhorse Co. compiled the following financial information as of December 31, 2022:Service revenue$825000Common stock192000Equipment238000Operating expenses741000Cash204000
Dividends60000Supplies33000Accounts payable114000Accounts receivable85500Retained earnings, 1/1/22426000Wildhorse's stockholders’ equity on December 31, 2022 is: Your answer is correct. Waterway Industries started the year with total assets of $312000 and total liabilities of $252000. During the year the business recorded $630000 in revenues, $334000 in expenses, and dividends of $55000. Stockholders’ equity at the end of the year was
Question 4Your answer is incorrect. A company’s total liabilities decreased by $145000 and its stockholders’ equity decreased by $25000 during a period of time. By what amount and in what direction must the company’s total assets have changed during that same period?
Question 5Your answer is correct. Blue Spruce Corp. had the following accounts and balances:Accounts payable $31900 Equipment $36000Accounts receivable 5450 Land 35100Buildings ? Unearned service revenue 10300Cash 15250 Total stockholders' equity If the balance of the Buildings account was $82300, what would be the total of liabilities and stockholders' equity? ?
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