Unadjusted net income = 23760
Supplies used = 1620
Depreciation on Company 's equipment = 3700
Adjusted net income = 23760 - 1620 -3700
= 18440
MC Qu. 5-73 (Static) The unadjusted net income on the income... The unadjusted net income on...
The unadjusted net income on the income statement was $46,850. After journalizing and posting the adjusting entry for the $2,300 of supplies used during the year, the adjusted net income is: Multiple Choice o О $46,850. o О 549150. o О 54, 550 o sълоо.
MC Qu. 157 Chou Co. has a net income of... Chou Co. has a net income of $55,000, assets at the beginning of the year are $262,000 and assets at the end of the year are $312,000. Compute its return on assets. Multiple Choice Ο Ο Ο Ο MC Qu. 310 Use the information in the adjusted... Use the information in the adjusted trial balance presented below to calculate the current ratio for Taron Company: Account Title Cash R Accounts...
MC Qu. 261 The Unadjusted Trial Balance columns of... The Unadjusted Trial Balance columns of a company's work sheet shows the Store Supplies account with a balance of $750 The Adjustments columns shows a credit of $425 for supplies used during the period The amount shown as Store Supplies in the Balance Sheet columns of the work sheet is Multiple Chaice $325 debr $325 credn 。 $425 debit
MC Qu. 169 Fernwood Company is... Fernwood Company is preparing the company's statement of cash flows for the fiscal year just ended. The following information is available: Retained earnings balance at the beginning of the year $ 313,000 Cash dividends declared for the year 70,000 Proceeds from the sale of equipment 120,200 Gain on the sale of equipment 6,900 Cash dividends payable at the beginning of the year 30,800 Cash dividends payable at the end of the year 38,000 Net...
MC Qu. 183 Flitter reported net income of.. Flitter reported net income of $21,500 for the past year. At the beginning of the year the company had $208,000 in assets and $58,000 in liabilities. By the end of the year, assets had increased to $308,000 and liabilities were $83,000. Calculate its return on assets: Multiple Choice 10.3% 8.3% 70% 35.5%
MC Qu. 178 Zapper has beginning equity of... Zapper has beginning equity of $267,000, net income of $56,000, dividends of $45,000 and stockho lder investments of $11,000. Its ending equity is: Multiple Choice $233,000 $245,000 $278,000 $289,000.
TB MC Qu.5-33 (Static) A mixed cost: A mixed cost Multiple Choice is fixed over a wider range of activity than a step cost. is a fixed cost over the relevant range and a variable cost everywhere else. contains both fixed and variable components. always increases on a per unit basis.
TB MC Qu.5-92 (Static) The contribution margin ratio is: 3 The contribution margin ratio is: 15 points Multiple Choice cBook the contribution margin stated as a percentage of sales. References the contribution margin stated as a percentage of profit. the contribution margin stated as a percentage of total costs. the contribution margin stated as a percentage of fixed costs.
Chapter 4 Completing the Account Cole 5. Net income: PR 4-4A Ledger accounts, adjusting entries financial statements and closing entries; optional spreadsheet The unadjusted trial balance of Lakota Freight Goat March 31, 2018, the $51,150 Obj. 2,3 EE he end of the year, follows SENEGAL LEDSER Unada Freight Unadjusted Trial Balance March 31. 2018 Account Cash- Debit Balances 12.000 30,000 3,600 110,000 25,000 60,000 Supplies .. Prepaid Insurance... Equipment Accumulated Depreciation Equipment Trucks.. Accumulated Depreciation-Trucks Accounts Payable Common Stock ......
TB MC Qu.5-45 (Static) The cost estimating approach that involves "eye... 7 The cost estimating approach that involves "eye-balling the closest fitting line to the data is the 15 points Multiple Choice cBook scattergraph method. References high-low method. visual fit method. regression analysis