Hightower Service Co.
Income statement 1 June to 30 June 2014
Service revenue $7,500
Salaries and wages expense $1400
Supplies expense $1,000
Maintenance and repairs expense $600
Advertising expense $400
Utilities expense $300
Universidad Interamericana de Puerto Rico
Recinto de San Germn
Centro Estudios Graduados
Course: ACCT 1161
Academic Term: Ausgust - October 2015
Nombre: _ Fecha: 9/15/15_
ID # _ Site: Internet
PART 1: PRACTICE EXERCISES AND MATCHING
Use the fo
Corporation, Sole proprietorship and partnership
Corporations have a required set structure, which helps the business to run more efficiently.
Corporations are owned by shareholders who elect a board of directors to support their i
Capitulo 2 Preguntas
1) In a classified balance sheet, assets are usually classified as:
D) Current assets; long-term investments; property, plant, and equipment; and intangible assets.
2) Current assets are listed:
(A) By order of expected conver
ACCTG 1161 : QUIZZ 1
Prepare an income statement, a retained earnings statement, and a balance sheet for the
medical practice of Linda Denny, MD, from the items listed below for the month of October
Retained earnings (October 1)
For the year ending December 31, 2014.
Maintenance and repair expense
Salaries and wages expens