201 ANSWER Quiz 1

201 ANSWER Quiz 1 - $730,000 $300,000 $430,000 Change...

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Quiz 1 Answer Key AC201 1.  A 2. C 3. D 4. D Revenue $110,000 Expenses     55,000 Net  Income  $  55,000 Total Assets Total Liabilities Owner’s Equity Beginning $730,000 $300,000 Change 225,000 (100,000 ) Ending $955,000 - $200,000 = $755,000 (1) Total Assets Total Liabilities Owner’s Equity Beginning
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Unformatted text preview: $730,000 $300,000 $430,000 Change 215,000 (130,000 ) Ending $815,000 (2) = $515,000 + $300,000 Total Assets Total Liabilities Owners Equity Beginning $730,000 $300,000 $430,000 Change (60,000 ) 170,000 Ending $670,000 = $ 70,000 (3) + $600,000...
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This note was uploaded on 06/22/2011 for the course ACCT 201 taught by Professor Tracyedmond during the Spring '10 term at Park.

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