Mgmt_200_Spring_2008_Homework_1_solution(1,18) - NAME: _...

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NAME: ___________________________ PUID _________________ Please write your name in BLOCK letters and in the format: Last name, First name. Management 200 – Introductory Financial Accounting– Spring 2008 Krannert School of Management - Purdue University Homework 1 – due Friday, January 18, 2008 - SOLUTION IMPORTANT: This homework must be turned in on this sheet of pages (please staple). It is preferred that you print it out two-sided if at all possible. Assignments not completed on this form will not be graded. The grade for this assignment will be based on the correctness of a partial portion of the assignment – the full assignment will not be graded. Please print your name and PUID clearly and legibly in the spaces above. The accountant for Igloo Corporation prepared the following alphabetical list from the company’s accounting records at the end of 2007 (amounts in thousands): Accounts payable $xxx Income taxes payable 600 Accounts receivable 7,400 Interest expense 1,500 Accrued salaries and other expenses 800 Inventory 4,200 Accumulated depreciation 13,200 Land 12,000 Cash 1,100 Notes payable (long-term) 20,000 Common stock 15,000 Plant and equipment, at cost 43,900 Cost of goods sold 32,200 Retained earnings (12/31/2006) 14,400 Deferred revenue 2,200 Sales revenue 53,500 Dividends* 1,500 Selling expense 7,700 6,200 Short-term investments 2,500 Income tax expense 2,300
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This note was uploaded on 11/22/2009 for the course MGMT 200 taught by Professor Greigg during the Spring '08 term at Purdue.

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Mgmt_200_Spring_2008_Homework_1_solution(1,18) - NAME: _...

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