Sakuntala

ACC 2101 Fall 2009 Practice Midterm Exam Name______________________________________ Section __________________ course session Professor_____________________________________ This run consists of 4 pages and 20 multitiple choice sus spellses. Time allowed to fare the trial run is 60 minutes. delight put your pen or pencil down IMMEDIATELY when time is called. Please mark the silk hat answer on the scantron sheet You whitethorn write on this question sheet, but you must helping hand it in with the scantron sheet at the end of the exam period. purpose the following information for questions 1–2. Jimmys cable car gear up shit started the year with add assets of $270,000 and total liabilities of $180,000. During the year, the business record $450,000 in car repair revenues, $255,000 in expenses, and the company bump dividends of $45,000. 1.The net income report by Jimmys Car Repair Shop for the year was a.$150, 000. b.$195,000. c.$90,000. d.$405,000. 2. Jimmys Car Repair Shop, Stockholders fair play at the end of the year was a.$240,000. b.$225,000. c.$285,000. d.$195,000. 3.During the year 2008, Fredericton Enterprises earned revenues of $75,000, had expenses of $45,000, purchased assets with a comprise of $15,000 and paid dividends of $5,000.

Net income for the year is a.$75,000. b.$60,000. c.$30,000. d.$10,000. 4.At January 1, 2008, Burton Industries reported stockholders equity of $130,000. Dur ing 2008, The familiarity had a net loss of! $30,000 and paid dividends of $20,000. At declination 31, 2008, the amount of stockholders equity is a.$130,000. b.$140,000. c.$100,000. d.$80,000. 5.Chugach Cruise Lines purchased a five-year insurance insurance policy for its ships on April 1, 2008 for $100,000. Assuming that April 1 is the impelling date of the policy, the adjusting introduction on December 31, 2008 is a.Prepaid...If you want to encounter a full essay, order it on our website: BestEssayCheap.com

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