Exam (elaborations)
Test Bank for Financial Accounting 11th Edition Robert Libby, Patricia Libby, Frank Hodge
- Module
- Institution
- Book
Test Bank for Financial Accounting 11th Edition Robert Libby, Patricia Libby, Frank Hodge
[Show more]
Connected book
Book Title:
Author(s):
- Edition:
- ISBN:
- Edition:
More summaries for
-
Solution Manual for Financial Accounting 11th Edition Robert Libby, Patricia Libby, Complete Chapters 1 - 13, Verified Newest Version
-
Test Bank for Financial Accounting 11th Edition by Libby & Hodge, ISBN: 9781264229734, All 13 Chapters Covered, Verified Latest Edition
-
Solution Manual for Financial Accounting 11th Edition By Libby, Frank Hodge Consists of 13 Complete Chapters, ISBN: 9781264229734.
Seller
Follow
Nursedocs
Reviews received
Content preview
TEST BANK FOR Financial Accounting 11th Edition Robert Libby, Patricia Libby, Frank Hodge Answers are at the end of each Chapter Chapter 1 Student name:__________ 1) Determine the missing amounts for each independent case below. Assume the amounts shown are at the end of the company's first year of operation. Company Name Total Revenue Total Assets Total Expenses Total Liabilities Net Income (Loss) Stockholders
' Equity Randolph $ 600,00
0 $ 450,00
0 $ 350,00
0 $ 130,000 Newman $ 105,00
0 $ 80,000 $ 10,000 $ 75,000 Wiseman $ 190,00
0 $ 70,000 $(30,000
) $ 100,000 Martin $ 180,00
0 $ 215,00
0 $ 115,00
0 $ 75,000 VanTasse
l $ 55,000 $ 75,000 $ 19,000 $ 79,000 NURSEDOCS Question Details AACSB : Knowledge Application AICPA : BB Critical Thinking AICPA : FN Measurement Bloom's : Apply Difficulty : 2 Medium Learning Objective : 01 -01 Recognize the information conveyed in each of the four basic financial sta Topic : Distinguish different financial statements Type : Static Accessibility : Keyboard Navigation Accessibility : Screen Reader C ompatible Gradable : manual 2) Frank’s Flower Company, a small retail store that sells flowers, started business on January 1, 2022. At the end of January 2022, the following information was available: Sales of flowers for cash $ 150,000 Sales of flowers for credit (not yet collected) 30,000 Cost of flowers which were sold and paid for during January 90,000 Expenses during January incurred, and paid for, during January unless otherwise noted: Salaries $ 10,000 Telephone 500 Office supplies (all used) 300 Electricity 600 Rent on the store for January, 2022 (will not be paid until February, 2022) 2,000 Required: A.Using the above information, prepare the income statement for Frank ’s Flower Company for the month ended Jan uary 31, 2022. B.What is the amount of cash flows provided by operating activities to be presented on the statement of cash flows? NURSEDOCS Question Details AACSB : Knowledge Application AICPA : BB Critical Thinking AICPA : FN Measurement Bloom's : Apply Learning Objective : 01 -01 Recognize the information conveyed in each of the four basic financial sta Topic : Distinguish different financial statements Type : Static Accessibility : Keyboard Navigation Accessibility : Screen Reader Compatible Difficulty : 3 Hard Gradable : manual 3) Indicate on which financial statement you would expect to find each of the following. If an item can be found on more than one statement, list each statement.
Example: Cash Balance Sheet and Statement of Cash Flows Notes payable ___________blank Salaries expense ___________blank Cost of goods sold ___________blank Sales revenue ___________blank Inventory ___________blank Income tax expense ___________blank Dividends declared ___________blank Retained earnings ___________blank Accounts payable ___________blank Equipment ___________blank NURSEDOCS Question Details AICPA : BB Critical Thinking AICPA : FN Measurement Learning Objective : 01 -01 Recognize the information conveyed in each o f the four basic financial sta Topic : Distinguish different financial statements Type : Static AACSB : Reflective Thinking Difficulty : 1 Easy Bloom's : Remember Accessibility : Keyboard Navigation Accessibility : Screen Reader Compatible Gradable : manua l 4) For each of the following items that appear on the balance sheet, identify each as an asset (A), liability (L), or element of stockholders' equity (SE). For any item that would not appear on the balance sheet, write the letter, N.
Retained earnings ___________blank Accounts payable ___________blank Selling expense ___________blank Common stock ___________blank Accounts receivable ___________blank Income tax expense ___________blank Dividends ___________blank Property and equipment ___________blank NURSEDOCS
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Nursedocs. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £14.79. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
67474 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy revision notes and other study material for 14 years now