Balance Sheet Identification

Indicate for each of the following items whether it would appear on a balance sheet (BS) or an income statement (IS). If a balance sheet item, is it an asset (A), a liability (L), or an owners' equity item (OE)? 1. Accounts Payable 2. Sales Revenue 3. Accounts Receivable 4. Advertising Expense 5. Cash 6. Supplies 7. Consulting Revenue 8. Land 9. Capital Stock 10. Rent Expense 11. Equipment 12. Interest Receivable 13. Mortgage Payable 14. Notes Payable 15. Buildings 16. Salaries & Wages Expense 17. Retained Earnings 18. Utilities Expense

Financial Ratios - Balance Sheet and Income Statement Analysis

Accounts Payable..............$ 1,800 Accounts Receivable.......... 5,475 Building.............................40,000 Cash........................... 1,125 Capital Stock................... 20,000 Inventory............................ 3,400 Land............................ 10,000 Long-Term Notes Payable.... 27,000 Market Value of Equity........ 90,000 Net Income.................... 7,000 Retained Earnings (ending).... 5,000 Sales............................. 100,000 Short-Term Notes Payable.......2,300 Stockholders' Equity........... 25,000 Unearned Revenue..................3,900 Use the information in the table above to compute the following rati... click for more

Using the following data, compute cost of goods sold

Using the following data, compute cost of goods sold: Inventory, December 31------- $ 45,000 Inventory, January 1--------- 52,000 Cash, December 31----------- 10,000 Purchases during the year-- 255,000 Sales during the year------ 480,000

Classify each of the following business activities

Classify each of the following business activities as an operating, investing, or financing activity. 1. Acquiring inventory for resale. 2. Buying and selling stocks and bonds of other companies. 3. Selling shares of stock to investors for cash. 4. Selling products or services. 5. Buying property, plant, or equipment. 6. Acquiring and paying for other operating items. 7. Selling property, plant, or equipment. 8. Borrowing cash from creditors.

Venn Diagrams

Creating a venn diagram post survey. Construct a Venn diagram, label your diagram clearly. Use your diagram to answer the following questions A survey asked participants many questions. Among the questions were these two: Do you own an Ipod? Are you over the age of 45? 33 did own an Ipod 57 were over the age of 45 14 both owned an Ipod and were over 45. Make a Venn diagram and answer the following questions: a) How many participants were over the age of 45 AND did NOT own an Ipod? b) How many participants owned an Ipod AND were under the age of 45?