ACC 556 Week 1 Quiz.docx - ACC 556 Week 1 Quiz Your answer is incorrect Windsor Inc started the month of June 2022 with total assets of $218000 and

ACC 556 Week 1 Quiz.docx - ACC 556 Week 1 Quiz Your answer...

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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
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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
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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?
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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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$121600$168650$131900$174100
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