FinMan10e_ATest_ch05

FinMan10e_ATest_ch05 - 10th edition FINANCIAL &...

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Unformatted text preview: 10th edition FINANCIAL & MANAGERIAL ACCOUNTING CORPORATE FINANCIAL ACCOUNTING Warren/Reeve/Duchac Chapter Test 5A Score % Name Course Section NOTE: Each of the 40 correct answers is assigned a weight of 2%. PROBLEM 1FINANCIAL STATEMENTS37% A TEST 5A (Concluded) INSTRUCTIONS: Indicate the placement on financial statements of the items listed below by inserting the appropriate letter or letters in the Answers column. Assume the use of the multiple-step income statement and the perpetual inventory system. STATEMENTS Income Statement G. Retained Earnings Statement Balance Sheet A. Administrative expenses H. Current assets B. Cost of merchandise sold I. Current liabilities C. Other expense J. Long-term liabilities D. Other income K. Stockholders equity E. Revenue from sales L. Property, plant, and equipment F. Selling expenses For Scoring ITEMS APPEARING ON STATEMENTS Answers 0. Cash ........................................................................................................... H 0. ____ 1. Merchandise inventory at end of period .................................................... 1. ____ 2. Cost of merchandise sold........................................................................... 2. ____ 3. Sales discounts .......................................................................................... 3. ____ 4. Interest expense ........................................................................................ 4. ____ 5. Loss on sale of fixed assets ......................................................................Loss on sale of fixed assets ....
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This note was uploaded on 07/17/2011 for the course ACCT 102 taught by Professor Martinez during the Summer '11 term at Rio Hondo College.

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FinMan10e_ATest_ch05 - 10th edition FINANCIAL &...

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