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Unformatted text preview: A red asterisk (*) wil appear in the column to the right of an incorrect answer. 1. Realty businesses are service businesses that aid their clients in buying or sel ing real estate. 2. Enter the appropriate amount or formula in the shaded cel s. a. Wages expense $32,250 b. Net income $69,300 c. Net income for September $69,300 d. Dividends $36,000 e. Retained earnings, September 30, 2010 $33,300 f. Land $216,000 g. Total assets $310,500 h. Capital stock $270,000 i. Retained earnings $33,300 j. Total stockholders' equity $303,300 k. Total liabilities and stockholders' equity $310,500 l. Cash received from customers $141,000 m. Net cash flows from operating activities $70,500 n. Net cash flows from financing activities $234,000 o. Net cash flow and September 30, 2010 cash balance $88,500 Instructions...
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This note was uploaded on 11/04/2011 for the course ACC 121 taught by Professor Thomas during the Winter '08 term at Baker MI.
- Winter '08