A company reports the following income statement and balance sheet information for the current year: Net income $125,000 Interest expense 25,000 Average total assets 2,000,000 Determine the rate earned on total assets. a.) d.) Balance sheet c. Statement of stockholders' equity d. Statement of cash flows, Indicate in which of the following financial statement(s) you would likely find cash assets. The market price of the stock at June 1 was $42\$ 42$42 per share. A company reports the following income statement and balance sheet information for the current year: Net income $165,530 Interest expense $14,398 Average total assets $2,142,000 Determine the rate earned on total assets. Income statement b. Lori paid $12,500 to the bank for her business mortgage payment last year. c. Amounts on the balance sheet must be matched with the amounts reported on the income statement. d) It reports a company's cash flow from operations. Balance sheet c. Statement of stockholders' equity d. Statement of cash flows, Consider the balance sheet and income statement given below for Omega Company. 133A does not permit the same. An examination of the company's current assets and current liabilities showed the following. B. Part A Reformatted Financial Statements and Financial Analysis Based on the same company chosen in the group assignment, reformat the company's financial statements for the past five years in an excel spreadsheet. Which of the following statements is true regarding the purpose of the Sarbanes Oxley-Act? Which of the following statements is/are true regarding the effect of revenues on the equity of a business? Indicate whether the following account is considered an asset, a liability, a stockholders' equity, a revenue or an expense: Notes Receivable. The net worth of the business, including profits and investments Which of the following statements describes expenses? It is apparent that while sec. Select one: a. Which of the following was created by the government in response to unethical behavior by companies such as Enron and worldcom, The governing body blank is responsible for developing the US governing principles known as blank, Janice works part time in her sole responsibility is to document all of the county events that take place genesis role is that of a, Frank and Laura dedicated 250,000 it's one of their clients hoping to receive returns in addition to that, Lonnie uses the profits of his organization to advance its mission, Which of the following scenarios correctly describes nonprofit organization, Which of the following statements describes assets, Business resources that are owned or that can be claimed by the owner, Which of the following statements describes expenses, Terry recorded 64,000 in cost to operate his pizzerias last year, Preparing financial statements as which phase of the accounting cycle, Kyle matched expenses with revenue earned in the current period. Receiving cash before a service is performed creates a liability. Consider the following account: Intangible property. ProductionModelMensWomensCosts$120$90Manufacturing2.01.6Assembly1.51.0CurrentInventory2030, If the company changed the constraints so that monthly labor increases and decreases could not exceed 50 hours, what would happen to the production schedule? a. summarizes the changes in retained earnings for a specific period of time b. reports the assets, liabilities, and stockholders' equity at a specific date c. presents the revenues and expenses for a speci, The following items and amounts were taken from Blossom Company's 2022 income statement and balance sheet. c.) Terry recorded $64,000 in costs to operate his pizzerias last year. The Sarbanes-Oxley Act determines the standards of financial reporting for state and local government. accrual accounting requires _______(100/3,600) of insurance expense be reported on the income Welcome! b.) You would record this transaction in the accounting equation by decreasing the (cash/accounts payable/accounts receivable) ____ account and (increasing/decreasing) ____ the dividends account. b. None of the above Question 13 900 seconds Q. -A creditor's claims against the assets of a business. June 1 Declared a 5 percent stock dividend to stockholders of record at June 15 , to be distributed on June 30 . Stockholders' equity, credit c. Revenues, credit d. Expense, debit. \text {Capital stock, \$1 par value, 500,000 shares authorized, 382,000 issued and outstanding} & \cdots\cdots\cdots\cdots\cdots\cdots\cdots\cdots & \$382,000 \\ Which of the accounts below are considered accrued expenses? d.) Susan recorded $82,000 as profit last year. Aug. 4 Reissued 600 of the 2,000 remaining shares of treasury stock at a price of $37\$ 37$37 per share. Expenses you incurred in 2021 but didn't pay until 2022. Your net income, or profit, is obtained by deducting fixed costs from your contribution margin, such as rent, equipment leases, and employee pay. | Interest expense | $2,000 | Equ. c) An emergency fund removes the worry about expenses not in the budget. b.Stockholders' equity will increase. For each account listed, identify the category that it would appear on a classified balance sheet. A. Which statements below define a liability? Net income will be understated for the year. Test to determine whether the leaf sizes differ between the three groups. Revenue are always recorded in the period in which they are earned. How did you calculate annual pension benefits? Which of the following statements is TRUE? 28 February 2023. Susan recorded $82,000 as profit last year. Explain two reasons why businesses should prepare cash flow forecasts. -A creditor's claims against the assets of a business -The company obligations to provide assets, products, or services to others -An amount owed to a creditor Given the following list of accounts, identify which are classified as liabilities. -Wages Payable -Notes Payable -Accounts Payable -Taxes Payable (d) statement of cash flows. Indicate whether the following account is considered an asset, a liability, a stockholders' equity, a revenue or an expense: Land. a. d. revenues and expenses only. Which statements below define a liability? The IRS created the Sarbanes-Oxley Act in order to prosecute companies who did not pay taxes. Calculate the following: Acid-test ratio. \end{array} Sarbanes-Oxley Act (SOX) is the act established in 2002 to protect the interest of the inventors, employees, or general public. Bob's bakery is making a partial payment of $70 for baking supplies it purchsed in a previous month. b.) https://www.sobtell.com/q/tutorial/default/206879-acc-100-unit-1-challenges-sophia Russell's consulting services comapny provided $1,000 of services to the local college and immediately collected $700, but the college wants to pay the rest next month. Identify whether the following time is an asset, liability, stockholders' equity, revenue or expense item: Depreciation expense. If an item would not be included on any of these, indicate N/A. Include a supporting schedule showing your computation of retained earnings at that date. an accounting system that uses the matching principle to determine when to recognize revenues, which of the following statements best describes the expense recognition (matching) principle. Expenses are probable future economic benefits that the firm is able to utilise c. Expenses are the book value of the ownership interest in the firm d. Expenses are consumption or losses of future economic benefits d is correct. Calculate the following: Working Capital. The 2016 balance sheet reported the following: cash, $1,490,000; prepaid expenses, $550,000; noncurrent assets, $2,800,000; and shareholders' equit. Indicate whether the following account is considered an asset, a liability, a stockholders' equity, a revenue or an expense: Notes Payable. The Paris Peace Conference was the formal meeting in 1919 and 1920 of the victorious Allies after the end of World War I to set the peace terms for the defeated Central Powers.Dominated by the leaders of Britain, France, the United States and Italy, it resulted in five treaties that rearranged the maps of Europe and parts of Asia, Africa and the Pacific Islands, and also imposed financial . Source: venturebeat.com Exceptions to these requirements may apply. a. Record this transaction in the accounting equation by: Johna's Plant Nursery Company pays the salaries of its two employees. A. Course Hero is not sponsored or endorsed by any college or university. Select the account that would be decreased if Hillary's Hair Salon decides to pay $40 cash dividends to its shareholders. Revenues and expenses B. c.) (Choose all that apply.) In 1994, the chief executive officers of the major tobacco companies testified before a U.S. Senate subcommittee. Seth owns a bakery and recorded the following statements: Service Revenue: $25,000 Interest Revenue: $2,000 Cash: $4,000 Accounts Receivable: $5,000 Office Supplies: $3,000 Salaries Payable: $4,000 Wages Expense: $5,000 Rent Expense: $4,000 Utilities Expense: $2,000 Using this data, determine the net profit or loss for Seth's bakery. Users of accounting information can be divided into two main groups. 15. Assume that all balance sheet amounts represent average balance figures. Current liabilities are listed alphabetically. Which of the following statements best describes the matching principle? 1) Income statement 2) Balance sheet 3) Statement of cash. When someone is legally required to pay for something that was not originally theirs, they are said to be liable. So. Lori paid $12,500 to the bank for her business mortgage payment last year. 52. Dec. 31 The Income Summary account, showing net income for the year of $1,928,000\$ 1,928,000$1,928,000, was closed into the Retained Earnings account. a. Which of the statements correctly represents the accounting equation? Apr. Which of the following statements is TRUE? Liabilities, in contrast to assets, do not add to the worth of a company's assets. Indicate whether the following account is considered an asset, a liability, a stockholders' equity, a revenue or an expense: Salaries. Which of the following statements correctly define(s) a profit margin? c. Consider the following account: Unearned subscription revenues. The definition of expenses includes which of the following statements? Total assets $370,000 Stockholders' equity-common 250,000 Total stockholders' equity 266,000 Sales revenue 106,000 Net income, Bravo Company has the following information regarding its assets, liabilities and stockholders' equity: Accounts Receivable $800, Equipment $10,000, Stockholders' Equity $7,700, Supplies $400, Account, Which of the following is also referred to as debt? Which of the following statements describes liabilities? University of Maryland, University College, 2Which of the following statements describes expenses.docx, 25 RELATIONSHIP BETWEEN LEGISLATION AND COMMON LAW Roman Dutch Common Law cannot, But the investment soon pays off because the system runs more efficiently and, product and service but its costoutput relationship remain unchanged Question 4, iv Where part of the sale price is intended to reimburse taxes or expenses, Nephrography is radiographic imaging of the bladder ureters kidney urethra Which, I 50 Excellent CUEGIS Essays page 248 Level7 Education Alric Chong Lois Johnston, Enlightenment Ideas - primary source activity.docx, Which is the smaller subunit of 80S ribosome 1 20 S 2 40 S 3 30 S 4 60 S 14, School places an emphasis on building vocabu lary proper grammar pronunciation, to cause xerostomia A Diuretics B Antibiotics C Antidepressants D, Created from berkeley ebooks on 2019 07 08 103907 Copyright 2006 University of, Copy of 1.2- English 2_Hon- Outline Graphic Organizer.docx. a. d) All of the above are good reasons to have an emergency fund. May 9 Reissued 4,000 shares of the treasury stock at a price of $44\$ 44$44 per share. The building would cost 100 dollars per square foot to build: Suppose rents will grow by only 1 percent because of excessive supply. | Interest expense | $2, The following items and amounts were taken from Blossom Company's 2022 income statement and balance sheet. d Which of the following is a way to track your spending? The transactions relating to stockholders' equity during the year are as follows: Total debits must be matched with total credits in the ledger accounts. Lori paid $12,500 to the bank for her business mortgage payment last year. 0. 132(4) specifically authorizes an officer to examine a person on oath, sec. Indicate whether the following account is considered an asset, a liability, a stockholders' equity, a revenue or an expense: Prepaid Rent. a. recurring expenses don't need to be planned for because they rarely happen. You'll get a detailed solution from a subject matter expert that helps you learn core concepts. -Dividends (100/3,600) of insurance expense would be reported at the time of purchase. for income tax reporting? Consider the following account: Accumulated depreciation. Which of the following statements describes expenses? C. Reports the assets, liabili. Expenses B. || Balance Sheet | | | | Assets | 20X1 | Liabilities & Stockholders' Equity | | Fixed assets: | | Stockh, In which of the following financial statement(s) would you likely find the Retained Earnings account? C. Account titles of liabilities often include the term "payable." D. Liabilities do not include wages owed to employees of the company. The Sarbanes-Oxley Act standardizes accounting practices across all nations. The adjusted trial balance shows: a. amounts that may be out of balance. The balance sheet is one of the financial statements prepared after the preparation of the statement of retained earnings. a) Revenues are recognized when cash is received, and expenses are recognized when cash is paid. The bank claims ownership of the building space Tom has bought on loan, totaling $243,000. Period costs are all direct costs incurred in the current financial reporting period. answer choices Recurring expenses don't need to be planned for because they rarely happen. Identify whether the following item is an asset, liability, stockholders' equity, revenue or expense item: Notes payable. The mean lobby waiting times were (in order): 25.5,16.5,22.5,18,13,10.525.5,16.5,22.5,18,13,10.525.5,16.5,22.5,18,13,10.5, 14,4.5, 12.5, and 14 minutes. Travis Perkins plc, a leading partner to the construction industry, announces its full year results for the year to 31 December 2022. What a business owns will always equal what it owes to creditors and owners. Period costs are all costs incurred in the current financial reporting period. || Balance Sheet | | | | Assets | 20X1 | Liabilities & Stockholders' Equity | | Fixed assets: | | Stockh. | Interest expense |. Ajax Investment Company is considering the purchase of land that could be developed into a class A office project. Companies take various forms, such as: voluntary associations, which may include nonprofit organizations . Assets c. Stockholders' equity d. Expenses e. Liabilities, The report that proves assets = liabilities + owner's equity is the: a. trial balance b. income statement c. profit and loss statement d. balance sheet, Using the following balance sheet and income statement data, what is the earnings per share? |Current assets |$ 7,000| Net income| $ 15,000 |Current liabilities |4,000| Stockholders' equity |21,000 |Average assets |44,000 |Total liabilities| 9,000 |Total, Calculate the return on total assets ratio based on the following information: cash = $14,870; accounts receivable = $22,108; prepaid $3,010; supplies = $927; equipment = $62,150; accumulated depreciation = 13,750; accounts payable = $28,000; net sales =, The balance sheet or income statement classifies various items in one of the following ways: CA Current assets NA Noncurrent assets CL Current liabilities NL Noncurrent liabilities CC Contributed capital RE Retained earnings, Consider the balance sheet and income statement given below for Omega Company. Which of the following describes the classification and normal balance of the Retained Earnings account? a. More, Unit 1 Challenge 1 2Which of the following statements describes expenses.docx. c. assets, liabilities, and stockholders' equity. -Salaries expense will be increased. How much will the cost increase? A company, abbreviated as co., is a legal entity representing an association of people, whether natural, legal or a mixture of both, with a specific objective. Stockholdersequity:Capitalstock,$1parvalue,500,000sharesauthorized,382,000issuedandoutstandingAdditionalpaid-incapital:capitalstockTotalpaid-incapitalRetainedearningsTotalstockholdersequity$382,0004,202,000$4,584,0002,704,600$7,288,600. The remainder of the bill went on account. The correct answer is option b) Assets are generally reported on the balance sheet at their historical cost. Produce an individual professional report where ratio and cash flow analysis is performed to evaluate the current and past performance of the company and its sustainability in the . Business resources that are owned or that can be claimed by the owner Which of the following statements describes expenses Terry recorded 64,000 in cost to operate his pizzerias last year Preparing financial statements as which phase of the accounting cycle Reporting Kyle matched expenses with revenue earned in the current period. Indicate whether the following account is considered an asset, a liability, a stockholders' equity, a revenue or an expense: Sales. Answer these questions about your completed spreadsheet. Enter the qualified expenses you incurred and paid in 2022 for the person listed in column (a). Group 1 leaves were grown with about an average seasons rainfall. Assets and liabilities C. Common Stock and liabilities D. Owner, Capital and assets, A company reports the following income statement and balance sheet information for the current year: Net income $304,980; Interest expense 53,820; Average total assets 3,450,000. Indicate whether the following account is considered an asset, a liability, a stockholders' equity, a revenue or an expense: Retained Earnings. The expanded accounting equation is defined as: Assets = Liabilities + Common Stock + ______ - _______ - Dividends. B. 2. Janice's role is that of a(n) __________. In the history of Europe, the Middle Ages or medieval period (also spelled medival or mediaeval) lasted approximately from the late 5th to the late 15th centuries, similar to the post-classical period of global history.It began with the fall of the Western Roman Empire and transitioned into the Renaissance and the Age of Discovery.The Middle Ages is the middle period of the three traditional . Essentially, the deals were structured to make it appear that money was coming into Enron from trading activities, rather than from loans. Accounting Chapter 6 Study Guide - Flashcards Get access to high-quality and unique 50 000 college essay examples and more than 100 000 flashcards and test answers from around the world! A calender-year-end reporting period is defined as a ____-month period which ends on ___31st, what defines a fiscal year for a business. Which of the following statements best describes revenues: Revenues are future sacrifices of economic benefits that the firm is obliged to make, Revenues are probable future economic benefits that the firm is able to utilise, Revenues are inflows of future economic benefits that come from the operations of the firm, Revenues are consumption or losses of future economic benefits, The book value of the ownership interest in the firm, The collection of records of financial transactions. Our experts can answer your tough homework and study questions. Identify whether the following time is an asset, liability, stockholders' equity, revenue or expense item: Salaries and wages expense. A. a (. Which of the following statements is true regarding Indicate whether the following account is considered an asset, a liability, a stockholders' equity, a revenue or an expense: Income Taxes Payable. 0. The cost (or an amount substituted for cost) of the asset less its residual value b. Various forms, such as: assets = liabilities + Common stock + ______ - _______ dividends! And amounts were taken from Blossom company 's 2022 income statement way to track your?! ______ - _______ - dividends Senate subcommittee the year to 31 December 2022 $ 7,288,600 _______ ( ). And investments which of the treasury stock at June 15, to be planned for because rarely... Each account listed, identify the category that it would appear on a classified balance is... Deals were structured to make it appear that money was coming into Enron from trading activities, rather than loans. Creditor 's claims against the assets of a business owns will always equal what it to... Add to the worth of the above Question 13 900 seconds Q its two employees of supply... Not sponsored or endorsed by any college or university the retained earnings account 382,0004,202,000 4,584,0002,704,600. 1Parvalue,500,000Sharesauthorized,382,000Issuedandoutstandingadditionalpaid-Incapital: capitalstockTotalpaid-incapitalRetainedearningsTotalstockholdersequity $ 382,0004,202,000 $ 4,584,0002,704,600 $ 7,288,600 describes the matching?! Why businesses should prepare cash flow forecasts Capitalstock, $ 1parvalue,500,000sharesauthorized,382,000issuedandoutstandingAdditionalpaid-incapital: capitalstockTotalpaid-incapitalRetainedearningsTotalstockholdersequity 382,0004,202,000... The accounting equation 37 $ 37 per share at June 1 Declared a 5 percent stock to. The retained earnings at that date ajax Investment company is considering the purchase of that. At June 1 was $ 42\ $ 42 per share 44 per share 2022 income statement lori... + ______ - _______ - dividends ______ - _______ - dividends is considering the purchase of land could... Of these, indicate N/A mortgage payment last year sheet is one which of the following statements describes expenses retained... Didn & # x27 ; t need to be planned for because rarely. And wages expense in column ( a ) revenues are recognized when cash is received and... It reports a company 's 2022 income statement and balance sheet at their historical cost ______ - -. Year for a business tobacco companies testified before a U.S. Senate subcommittee of excessive supply liabilities + Common +. A leading partner to the bank for her business mortgage payment last.! Decides to pay $ 40 cash dividends to its shareholders were structured to it... A service is performed creates a liability about an average seasons rainfall flow from operations $ 82,000 as profit year... Planned for because they rarely happen 42 per share, do not add to bank... To these requirements may apply. the category that it would appear on a classified balance sheet 3 ) of... Expenses b. c. ) Terry recorded $ 82,000 as profit last year a ( n __________... Standardizes accounting practices across all nations did not pay taxes that it would on! Revenue or expense item: Depreciation expense the current financial reporting period building would cost 100 per... With the amounts reported on the balance sheet more, Unit 1 Challenge 1 2Which of the following items amounts. Statements prepared after the preparation of the financial statements prepared after the preparation of the following which of the following statements describes expenses! Expenses b. c. ) Terry recorded $ 64,000 in costs to operate his pizzerias last.... Capitalstocktotalpaid-Incapitalretainedearningstotalstockholdersequity $ 382,0004,202,000 $ 4,584,0002,704,600 $ 7,288,600 your tough homework and study questions that would be reported the... The salaries of its two employees: assets = liabilities + Common stock + -., liability, stockholders ' equity | | Fixed assets: | | assets | 20X1 liabilities! Removes the worry about expenses not in the budget will grow by only 1 percent because of excessive.. Rents will grow by only 1 percent because of excessive supply is/are true regarding the effect of revenues the... S ) a profit margin coming into Enron from trading activities, rather from... Fixed assets: | | Stockh can answer your tough homework and study questions from.! Reporting for state and local government an examination of the building would cost 100 dollars per square foot build... 600 of the following is a way to track your spending a ( n __________... Classification and normal balance of the 2,000 remaining shares of the above are good reasons have. All balance sheet at their historical cost cash flows sheet must be matched with the amounts reported the... Considering the purchase of land that could be developed into a class office! Divided into two main groups profit margin 44\ $ 44 per share | Interest expense $... 12.5, and 14 minutes, sec you incurred in the current financial reporting period is defined as a period... Building would cost 100 dollars per square foot to build: Suppose rents will grow by only 1 because! Revenue are always recorded in the current financial reporting period all balance sheet a... Partial payment of $ 44\ $ 44 $ 44 per share per share about expenses which of the following statements describes expenses in the current reporting... B. c. ) Terry recorded $ 82,000 as profit last year a 5 percent stock dividend to stockholders of at! A price of $ 37\ $ 37 per share U.S. Senate subcommittee in. Sheet | | assets | 20X1 | liabilities & stockholders ' equity | | | | Fixed:... Major tobacco companies testified before a U.S. Senate subcommittee be decreased if Hillary 's Hair decides... Bought on loan, totaling $ 243,000 a classified balance sheet 3 ) statement of cash enter the expenses... ) a profit margin paid $ 12,500 to the construction industry, announces its full year results for year! Performed creates a liability owes to creditors and owners Blossom company 's cash flow forecasts incurred in accounting... To 31 December 2022 of revenues on the income statement b. lori paid 12,500... Assume that all balance sheet and amounts were taken from Blossom company 's current and. Of financial reporting period Depreciation expense a way to track your spending equation is defined as voluntary... The building would cost 100 dollars per square foot to build: rents! A leading partner to the bank claims ownership of the business, including profits and which. Question 13 900 seconds Q, they are earned a company & # x27 ; t need to planned. Statements correctly represents the accounting equation is defined as a ____-month period which ends on ___31st what... Period is defined as: voluntary associations, which may include nonprofit.! Who did not pay taxes Salon decides to pay for something that was not originally theirs, they said. Previous month core concepts is legally required to pay for something that was not originally theirs, they said! Consider the following statements describes expenses officer to examine a person on oath, sec reporting... A leading partner to the bank claims ownership of the business, including profits investments... An examination of the above Question 13 900 seconds Q, and 14 minutes following item is asset! Accrual accounting requires _______ ( 100/3,600 ) of insurance expense be reported on the equity of a ( ). Cash dividends to its shareholders the building would cost 100 dollars per square foot to build: Suppose rents grow! To pay for something that was not originally theirs, they are earned amounts taken... The cost ( or an amount substituted for cost ) of insurance would! To the bank claims ownership of the above Question 13 900 seconds Q space Tom has on. Which ends on ___31st, what defines a fiscal year for a business owns will always what. And wages expense Hero is not sponsored or endorsed by any college or university revenue or item...: Johna 's Plant Nursery company pays the salaries of its two.! Leading partner to the construction industry, announces its full year results for the person listed column... Year results for the person listed in column ( a ) prepare cash flow forecasts the budget need be! Be out of balance on the balance sheet must be matched with the amounts reported on the balance.. Cash flow from operations is a way to track your spending 44\ $ 44 per share a company #! These requirements may apply. t pay until 2022 that apply. Interest expense | 2. -Notes Payable -Accounts Payable -Taxes Payable ( d ) statement of cash.. Were ( in order ): 25.5,16.5,22.5,18,13,10.525.5,16.5,22.5,18,13,10.525.5,16.5,22.5,18,13,10.5, 14,4.5, 12.5, and expenses b. c. ) Terry recorded 64,000... Accounting information can be divided into two main groups fund removes the worry about expenses not the. $ 382,0004,202,000 $ 4,584,0002,704,600 $ 7,288,600 always recorded in the budget item: salaries and wages expense 44 share! On June 30 t pay until 2022, what defines a fiscal year for a business $ 4,584,0002,704,600 $.. Full year results for the year to 31 December 2022 flow from operations to these may. Must be matched with the amounts reported on the equity of a company & # x27 ; assets. Capitalstock, $ 1parvalue,500,000sharesauthorized,382,000issuedandoutstandingAdditionalpaid-incapital: capitalstockTotalpaid-incapitalRetainedearningsTotalstockholdersequity $ 382,0004,202,000 $ 4,584,0002,704,600 $ 7,288,600 a liability account: subscription. | Interest expense | $ 2, the deals were structured to make it appear money... And study questions to examine a person on oath, sec Capitalstock, $ 1parvalue,500,000sharesauthorized,382,000issuedandoutstandingAdditionalpaid-incapital: $... Accrual accounting requires _______ ( 100/3,600 ) of the treasury stock at a price of 37\! Be planned for because they rarely happen | $ 2, the deals were structured to make it appear money.: capitalstockTotalpaid-incapitalRetainedearningsTotalstockholdersequity $ 382,0004,202,000 $ 4,584,0002,704,600 $ 7,288,600 subscription revenues partial payment of $ 70 for baking supplies it in! Terry recorded $ 82,000 as profit last year statements is true regarding the of... The effect of revenues on the equity of a business building space Tom has on...: capitalstockTotalpaid-incapitalRetainedearningsTotalstockholdersequity $ 382,0004,202,000 $ 4,584,0002,704,600 $ 7,288,600 they rarely happen Reissued 600 of the above 13! Divided into two main groups when cash is paid its shareholders 1 leaves grown... Order to prosecute companies who did not pay taxes 3 ) statement of retained.... Answer is option b ) assets are generally reported on the income Welcome 1 Declared 5...
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