Ch 3 pract quizzes

Ch 3 pract quizzes - $150,000 common stock dividends...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Chapter 3 Finance 302 Practice Quiz Problems 1. Given the information below, prepare a balance sheet: Gross fixed assets $75,000 accounts receivable $50,000 Cash $10,000 long-term bank note $5,000 Other assets $15,000 mortgage $20,000 Accounts payable $40,000 common stock $100,000 Retained earnings $15,000 inventories $70,000 Accum. Depreciation $20,000 short-term notes $20,000
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
2. Given the information below, prepare an income statement: Interest expense $35,000 sales $400,000 Cost of goods sold
Background image of page 2
Background image of page 3
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: $150,000 common stock dividends $15,000 Selling expenses $40,000 income taxes $40,000 Administrative expenses $30,000 depreciation expenses $20,000 3. Given the information below, prepare an income statement: Interest expense $35,000 sales $400,000 Cost of goods sold $150,000 common stock dividends $15,000 Selling expenses $40,000 income taxes $40,000 Administrative expenses $30,000 depreciation expenses $20,000...
View Full Document

This note was uploaded on 10/17/2011 for the course FINC 302 taught by Professor Lawrence during the Spring '11 term at Nicholls State.

Page1 / 3

Ch 3 pract quizzes - $150,000 common stock dividends...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online