Module 1.1 - Account Types and Financial Statements Icome,...

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Unformatted text preview: Account Types and Financial Statements Icome, Jesus almanza Jr 9 Please identifythe categories from the list belewthat can be found _ ___ enthe Income Statement. E LIabIlItIBS FriJan72011 Exercise 1 I Select ALL choices that are true or correct, then click Check Answer. B Close a Walk mu thmud'l a sin-Illa! Valley / Check Answer @ Done Internet a 100% V .: a https:,l',l'dms.devry.edufdmsIWebPagesIFIashIcontent,I'studentflearningExercise.aspx?course1 .7 Account Types and Financial Statements -. Icome, Jesus almanza Jr Fri Jan Y 2011 '3 a '3 l3 / Exercisez I E Inventory U Retained Earnings E Equipment E Accounts Receivable Please indicate which accounts would be classified as assets. U Sales Revenue U Notes Payable U Cost ofSaIes E Cash Select ALL choices that are true or correct, then click Check An a Class E] Walk mu thmud'l a sin-Illa! pulley / Check Answer 3 Done ' Internet a 100% ' u. Acccunt Types and Financial Statements a https:Hde.deyry.edu,I'clms!WebPages!Flash,I'content,I'studentflearningExercise.aspx?courseID=453IZZDMSerID=8112319&dssID=81aroletype=STUD&courseCode=FISD4i a . ' lcome, Jesus almanza Jf Fri Jan 7 2011 Exercise 3 I Please indicate which accounts are liabilities. a Close El Walk ma thmug'l a similat wavth / Check Answer 3 E Accounts Payable E Notes Payable D Retained Earnings E Wages Payable E Accrued Interest Payable D Wage Expense D Selling Expenses D Cost ofSaIes Select ALL choices that are true or correct, then click Check An Account Types and Financial Statements lcome, Jesus nlmanza Jr Fri Jan 7 2011 Exercise 4 I Please indicate which accounts would be found on the Income Statement. a Class E] Walk mu throud'l a similat may D Notes Payable D Wages Payable U Retained Earnings E Cost ofSaIes E Selling Expenses E Sales Revenue U Accounts Payable E Wage Expense Select ALL choices that are true or correct, then click (3 Check Answer 3 Account Types and Financial Statements - lcome, Jesus Mmanza Jr Fri Jan I" 2011 @@ Eluckley Bookstore opened in 200T. Buckley's sales were $45,000, ofwhich $40,000 was collected hythe end ofthe year. Buckley purchased equipmentfor $3,000 and also during the rear incurred expenses of$20,?50. Whatisthe value for Buckley's 200? Net Income? a Close El Walk m through a similar may Amount ofnet income = $ 16250 Exercise 1 I Type a number into the boxI then click Check Answer. Check Answer B .7 Welcome. Jesus Aim-aura JI' B. Calculation of Net Income Fri Jan i' 2o11 1-] @ Exelcise 2 Carilli Collections, a professional services firm, began operations on April 1, 2000. Here are its account balances on April 30, 2008: .él ll FinancialStatements EZXIS Accounts Pavable $3,200 Amount ofnetincome = $ 5300 Accounts Receivable $1,000 Cash $4,000 Depreciation Expense $580 Equipment $14,000 Interest Expense $120 Notes Pavable $10,000 Service Revenue $22,000 Selling Expense $5,000 Wage Expense $11,000 Wages Pavable $500 Calculate Carilli's Netlncome forApriI 2008. Type a number into the box, then click Check Answer. Close I I Well: me through a similar problem Check Answer Welcome, Jesus Almanza Jr ‘7 C. Calculation Of Balance Sheet Categories FriJan 'i' 2011 a ELI IE Exei cise 'I Elel0w are account balances f0rWhiteh0rse Riding Stable 0n December 31, 2010,tne encl 0fitst’irstyear0f0perati0ns. .3 d FinancialStatements Chris Accounts Fatah“? $335” Am0unt0ft0ta| liabilities = $ 10000 Acc0unts Receivable $2,000 Cash $3,500 Depreciati0n Expense $500 Equipment $15,000 Interest Expense $800 N0tes Payable $14,000 Service Reyenue $12,300 Utility Expense $1,500 Wage Expense $T,000 Wages Payable $1,000 Please calculate Whiten0rse's T0ta| Liabilities as 0f December 31, 2010. Type a number into the box, then click Check Answer. Close I _= I Walk me through a similar problem Check Answer E Welcome, Jesus Almanza Jr ‘7 8. Calculation of Balance Sheet Categories FriJan? 2011 '3 a '3 Exel cise 2 Below are account balances forWhitehorse Riding Stable on December31, 201 0, the end of its first vearofoperations. .fl IL] Financial Statements 02.xs Accounts Payable S'DDU Amount oftotal currentassets = $ 5500 Accounts Receivable 2,000 Cash 3,500 Depreciation Expense $500 Equipment $ 5000 Interest Expense $000 Notes Pavable $ 4000 Service Revenue $ 2,300 Utility Expense t“1,500 Wage Expense $T,000 Wages Pavable 01,000 Please calculate Whitehorse's Total Current Assets as of December31, 2010. Type a number into the box, then click Check Answer. Close I _: I Walk me through a similar problem Check Answer @ Account Types and Financial Statements lcome, Jesus nimanza Jr Fri Jan ? 20‘1‘1 1'1 2'1 Please iclentifythe accounts that can befouncl onthe Balance Sheet fromtne list below. a Close a Walk mo throng: a similar patith E Retained Earnings E Inventory D Salaries Expense D Sales Revenue E Equipment D Rent Expense E Accounts Receivable E Accounts Payable >)> / Exercise 3 I Select ALL choices that are true or correctI then click Check Answer. Check Answer @ ...
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Module 1.1 - Account Types and Financial Statements Icome,...

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