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)
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
For the year ending December 31, 2014.
Maintenance and repair expense
Salaries and wages expens