Lol, How Does This Websi

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Submitted By kitwot
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1. Financial accounting provides economic and financial information for all of the following except
a. creditors.
b. investors.
c. managers.
d. other external users.

2. As of June 30, 2013, Actual Tigers Company has assets of $100,000 and stockholders' equity of $30,000. What are the liabilities for Actual Tigers Company as of June 30, 2013?
a. $30,000
b. $70,000
c. $100,000
d. $130,000

3. The ending retained earnings amount is shown on
a. the balance sheet only.
b. the retained earnings statement only.
c. both the income statement and the retained earnings statement.
d. both the balance sheet and the retained earnings statement.

4. Black Keys Company began the year with stockholders' equity of $185,000. During the year, the company recorded revenues of $250,000, expenses of $190,000, and paid dividends of $20,000. What was Black Keys’ stockholders' equity at the end of the year?
a. $185,000.
b. $225,000.
c. $245,000.
d. $265,000.

5. Misra Company compiled the following financial information as of December 31, 2013: Revenues $170,000 Retained earnings 30,000 Equipment 40,000 Expenses 125,000 Cash 45,000 Dividends 10,000 Supplies 5,000 Accounts payable 20,000 Accounts receivable 35,000 Common stock 40,000

Misra’s assets on December 31, 2013 are
a. $90,000.
b. $125,000.
c. $180,000. d $245,000.

6. The accounting equation for Quattro Enterprises is as follows: Assets Liabilities Stockholders' Equity $120,000 = $60,000 + $60,000 If Quattro purchases office equipment on account for $15,000, the accounting equation will change to Assets Liabilties Stockholders' Equity a. $120,000 = $60,000 + $60,000 b. $135,000 = $60,000 + $75,000 c. $135,000 = $67,500 + $67,500 d. $135,000 = $75,000 +…...

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