Exercises - EXERCISES WEEK 2 Exercises Week 2 Luis D Maym...

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EXERCISES WEEK 2 1 Exercises Week 2 Luis D. Maymí Romero University of Phoenix ACC/280 Prof. Manfredo H. Rodríguez 18:38:53
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E1-1 Urlacher Company performs the following accounting tasks during the year. C Analyzing and interpreting information. R Classifying economic events. C Explaining uses, meaning, and limitations of data. R Keeping a systematic chronological diary of events. R Measuring events in dollars and cents. C Preparing accounting reports. C Reporting information in a standard format. I Selecting economic activities relevant to the company. R Summarizing economic events. E1-5 Meredith Cleaners has the following balance sheet items. Accounts payable - Liability Accounts receivable - Asset Cash Notes payable - Liability Cleaning equipment - Asset Salaries payable - Liability Cleaning supplies - Asset Common stock - Equity
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E1-12 The following information relates to Linda Stanley Co. for the year 2008. Linda Stanley co. Income statement For the year ended December 31, 2008 Revenue: Service revenue $ 62,500 Operating Expenses: Salaries expense $ 30,000 Advertising expense 1,800 Rent expense 10,400 Utilities expense 3,100 Total Operating Expenses 45,300 Net income
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