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The balance that would be reported for equity

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The balance that would be reported for equity 1. The following items (in thousands) are taken from the financial statements of Huang Company for the year ending December 31, 2011: Accounts payable ¥ 18,000 Accounts receivable 11,000 Accumulated depreciation – equipment 28,000 Advertising expense 21,000 Cash 15,000 Share Capital-ordinary 42,000 Dividends 14,000 Depreciation expense 12,000 Equipment 210,000 Insurance expense 3,000 Note payable, due 6/30/12 70,000 Prepaid insurance (12-month policy) 6,000 Rent expense 17,000 Retained earnings (1/1/11) 60,000 Salaries expense 32,000 Service revenue 133,000 Supplies 4,000 Supplies expense 6,000 What is the company’s net income for the year ending December 31, 2011? a. ¥133,000 b. ¥42,000 c. ¥28,000 d. ¥12,000 2. The following items (in thousands) are taken from the financial statements of Haung Company for the year ending December 31, 2011: Accounts payable ¥ 18,000 Accounts receivable 11,000 Accumulated depreciation – equipment 28,000 Advertising expense 21,000 Cash 15,000 Share capital-ordinary 42,000 Dividends 14,000 Depreciation expense 12,000 Equipment 210,000 Insurance expense 3,000 Note payable, due 6/30/12 70,000 Prepaid insurance (12-month policy) 6,000 Rent expense 17,000 Retained earnings (1/1/11) 60,000 Salaries expense 32,000 Service revenue 133,000 Supplies 4,000 Supplies expense 6,000 What is the balance that would be reported for equity at December 31, 2011? a. ¥102,000 b. ¥130,000 c. ¥144,000 d. ¥158,000 3. The following items (in thousands) are taken from the financial statements of Huang Company for the year ending December 31, 2011: Accounts payable ¥ 18,000 Accounts receivable 11,000 Accumulated depreciation – equipment 28,000 Advertising expense 21,000 Cash 15,000 Share capital-ordinary 42,000 Dividends 14,000 Depreciation expense 12,000 Equipment 210,000 Insurance expense 3,000 Note payable, due 6/30/12 70,000 Prepaid insurance (12-month policy) 6,000 Rent expense 17,000 Retained earnings (1/1/11) 60,000 Salaries expense 32,000 Service revenue 133,000 Supplies 4,000 Supplies expense 6,000 What are total current assets at December 31, 2011? a. ¥26,000 b. ¥32,000 c. ¥36,000 d. ¥218,000 4. The following items (in thousands) are taken from the financial statements of Huang Company for the year ending December 31, 2011: Accounts payable ¥ 18,000 Accounts receivable 11,000 Accumulated depreciation – equipment 28,000 Advertising expense 21,000 Cash 15,000 Share capital-ordinary 42,000 Dividends 14,000 Depreciation expense 12,000 Equipment 190,000 Insurance expense 3,000 Note payable, due 6/30/12 70,000 Patents 20,000 Prepaid insurance (12-month policy) 6,000 Rent expense 17,000 Retained earnings (1/1/11) 60,000 Salaries expense 32,000 Service revenue 133,000 Supplies 4,000 Supplies expense 6,000 What is the book value of the equipment at December 31, 2011? a. ¥218,000 b. ¥190,000 c. ¥162,000 d. ¥150,000 5. The following items (in thousands) are taken from the financial statements of Huang Company for the year ending December 31, 2011: Accounts payable ¥ 18,000 Accounts receivable 11,000 Accumulated depreciation – equipment 28,000 Advertising expense 21,000 Cash 15,000 Share capital-ordinary 42,000 Dividends 14,000 Depreciation expense 12,000 Equipment 210,000 Insurance expense 3,000 Note payable, due 6/30/12 70,000 Prepaid insurance (12-month policy) 6,000 Rent expense 17,000 Retained earnings (1/1/11) 60,000 Salaries expense 32,000 Service revenue 133,000 Supplies 4,000 Supplies expense 6,000 What are total current liabilities at December 31, 2011? a. ¥18,000 b. ¥70,000 c. ¥88,000 d. ¥0 Business Management Assignment Help, Business Management Homework help, Business Management Study Help, Business Man

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