ACCT ch4 quiz -...

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Prepare a classified balance sheet at year end, May 31, 2010: Accounts Payable, $800; Accounts Receivable, $1,100; Accumulated Depreciation—Equipment, $700 Merchandise Inventory, $600; Notes Payable (long-term), $400; Retained Earnings, ?; Wages Payable, $140.
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All Feedback   Partially Correct Additional Feedback Post Submission Feedback Solution Correct Response  Balance Sheet  Assets  
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#2 Using the following accounts, prepare a multistep income statement at year end, May 31, 2010: Cost of Goods Sold, $840; Income Taxes,  $120; Interest Income, $90; Interest Expense, $210; Net Sales, $2,400; Selling Expenses, $555; General Expenses, $450. Ignore earnings  per share. List operating expenses and other revenues and expenses in the order presented in the problem. Income Statement 
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#3 Short Exercise 4-8 (Algorithmic)   Liquidity Ratios Using the following accounts and balances taken from a year-end balance sheet, compute working capital and the current ratio. Round your 
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This note was uploaded on 03/28/2011 for the course ACCT 2301 taught by Professor G.a.gross during the Spring '11 term at Richland Community College.

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ACCT ch4 quiz -...

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