Question 1: Below is a partial list of account balances:
Cash $12,000
Prepaid rend $ 1,300
Accound Receivable $7,000
Account Payable $5,000
Notes Payable $9,000
Common Stock $22,000
Dividends $2,000
Revenues $45,000
Expenses $35,000
What is the total debits?
Question 2: Equipment was purchased for $85,000 freight charges amounted to $2,550 and there was a cost of $10,000 for building a foundation and istalling the equipment. It is estimated that the equipment will have a $5,000 salavage valueat the end of its 6 year useful life. Depreciation expense each year using the straight line method will be?
Question 3: When the market rate of interest is equal to the states rate of interest on the bond, the bond will require:
- A debit to discount on bonds payable
- A credit to discount on bonds payable
- A credit to Bonds Payable
- A Debit to bonds payable
Question 4: which of the following is typically analyzed via financial statement ratio analysis?
- The design of a new product
- The internal control failure rate
- The leverage of the firm
- The effectiveness of a marketing campaign