P1-3A On June 1, Beardsley Service Co. was started with an initial investment in the
company of $22,100 cash. Here are the assets and liabilities of the company at June 30,
and the revenues and expenses for the month of June, its first month of operations
P2-6A Condensed balance sheet and income statement data for Sievert Corporation are
presented here and on the next page.
Other current assets
Plant and equi
Running head: WORKING WITH FINANCIAL STATEMENTS
Working with Financial Statements
Dawn Eichten, Tammie Garrett, Ruth Phipps, and Bobby Stafford
March 25, 2013
Instructor: Rena Ballot
WORKING WITH FINANCIAL STATEMENTS
Working with financial sta
Unearned revenue is payment received before a good is sold or a service is provided, or prepaid
revenue. This is when the customer pays in advance for services that are not yet performed.
Unearned revenue is classified as a current liability on the balanc
Week Four Discussion 1
ACC 300 Assignment
What is the purpose of internal control? Why is internal control important? How can
internal controls help or hinder a companys success?
Quite simply, internal controls are in place to protect a company from risk.
Problem Set P5-4A Answers
Illustration 5-11 can help with preparing the Multi-step Income Statement. You will then need to go back to
chapter 1 and review Illustration 1-9 in order to complete the Retained Earnings Statement and Balance Sheet.
Also, for t