Mgmt 200 Spring 2011 Homework 1 solution

Mgmt 200 Spring 2011 Homework 1 solution - LAST NAME FIRST...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
LAST NAME: _____________ FIRST NAME______________PUID_________________ Please write your name in BLOCK letters and in the format: Last name, First name. Management 20000 – Introductory Financial Accounting– Spring 2011 Krannert School of Management - Purdue University Homework 1 – due Friday, January 28, 2011 - SOLUTION IMPORTANT: This homework must be turned in on this sheet of pages (please staple). It is preferred that you print it out two-sided if at all possible. Assignments not completed on this form will not be graded. The grade for this assignment will be based on the correctness of a partial portion of the assignment – the full assignment will not be graded. Please print your name and PUID clearly and legibly in the spaces above. The accountant for Lawn Care Corporation prepared the following mostly alphabetical list from the company’s accounting records at the end of 2010 (amounts in thousands): Accounts payable $1,330 Insurance expense 640 Accounts receivable 1,280 Land 9,000 Advertising expense 930 Legal fees expense 240 Cash 120 Note payable 6,000 Common Stock 8,000 Operating expenses 7,300 Dividends 2,100 Prepaid insurance 240 Equipment 17,590 Retained earnings (12/31/2009) 9,430 Income tax expense 1,690 Service revenue 15,400 Income taxes payable 420 Unearned revenue 1,200 Interest expense 650 *Other Information: 1. Dividends declared and paid by Lawn Care Corporation during 2010 were $2,100,000. 2. Common stock represents 320,000 shares issued and outstanding. New common stock
Background image of page 1

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

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 02/27/2012 for the course MGMT 200 taught by Professor Greigg during the Spring '08 term at Purdue.

Page1 / 5

Mgmt 200 Spring 2011 Homework 1 solution - LAST NAME FIRST...

This preview shows document pages 1 - 2. Sign up to view the full document.

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