Quiz 1 - 1. (Points: 1) Which of the following items would...

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1. (Points: 1) Which of the following items would be shown as part of the Stockholder’s Equity on the balance sheet? a. Cash b. Notes Payable c. Retained Earnings d. Accounts Receivable Save Answer 2. (Points: 1) The total assets and liabilities at the beginning and end of the year for Continental Company are listed below. Assets Liabilities Beg. Balance (1/01/08) $140,000 $ 55,000 End of the year (12/31/08) 220,000 105,000 Determine the Company’s net income or loss for the year if stockholders made an additional investment of $10,000 in the business and dividends of $22,000 were paid during the year. a. $ 42,000 b. $ 85,000 c. $115,000 d. $127,000 Save Answer 3. (Points: 1) Which of the following transactions would be considered an investing activity on a Statement of Cash Flows? a. Sold stock for cash to shareholders b. Purchased equipment for cash c. Borrowed $200,000 on a long-term note payable. d. Paid $45,000 for inventory held for resale to customers. Save Answer 4.
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(Points: 1) Brown Corporation's end-of-year balance sheet consisted of the following amounts. Cash $ 15,000 Accounts receivable $ 50,000 70,000 Long-term debt 40,000 Contributed Capital 100,000 Accounts payable 20,000 Retained earnings ? Inventory
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Quiz 1 - 1. (Points: 1) Which of the following items would...

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