FinMan10e_BTest_ch05

FinMan10e_BTest_ch05 - 10th Edition FINANCIAL &...

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10th Edition CORPORATE FINANCIAL ACCOUNTING Warren/Reeve/Duchac Chapter Test 5B Score % Name Course Section NOTE: Each of the 40 correct answers is assigned a weight of 2½%. PROBLEM 1—FINANCIAL STATEMENTS—37½% B
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TEST 5B (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
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For Scoring ITEMS APPEARING ON STATEMENTS Answers 0. Accounts payable . ...................................................................................... I 0. ____ 1. Merchandise inventory at end of period . ................................................... 1. ____ 2. Gain on sale of fixed assets . ...................................................................... 2. ____ 3. Cost of merchandise sold . ......................................................................... 3. ____ 4. Store equipment . ........................................................................................ 4. ____ 5. Note payable (payable in 60 monthly installments) . .................................. 5. ____
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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_BTest_ch05 - 10th Edition FINANCIAL &...

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