| Accounts payable | $12,000 | Accounts Receivable | 20,900 |
| Furniture | 5,000 | Accumulated Depreciation | 6,500 |
| Building | 82,000 | Cash | 21,500 |
| Common Stock | ? | Sales Revenue | 90,700 |
| Cost of Goods Sold | 51,500 | Depreciation Expense | 1,450 |
| Dividends | 6,600 | Note Payable (due 3/1 Year 4) | 20,000 |
| Marketable Securities | 1,400 | Prepaid Expenses | 18,000 |
| Salaries Payable | 2,800 | Land | 38,000 |
| Note Payable (due 5/30 Year 2) | 12,400 | Service Revenue | 22,550 |
| Retained Earnings (1/1 Year 1 ) | 39,700 | Salary Expense | 18,000 |
| Accrued Expenses Payable | 1,500 | Unearned Revenue | 30,500 |
| Utilities Expense | 5,400 |
- Determine Total assets on December 31, Year 1
- Determine Current Liabilities on December 31, Year 1
- Determine Net Income for the year ended December 31, Year 1
- Determine the total amount of Common Stock on December 31, Year 1
The Rest Of TheVideos
| 1 | Not completed | Current Assets | 10 min |
| 2 | Not completed | Non-Current Assets | 11 min |
| 3 | Not completed | Current Liabilities | 7 min |
| 4 | Not completed | Non-Current Liabilites | 2 min |
| 5 | Not completed | Contributed Capital | 6 min |
| 6 | Not completed | The Classified Balance Sheet | 5 min |
| 7 | Not completed | The Multistep Income Statement | 13 min |
| 8 | Not completed | Retained Earnings vs Shareholder's Equity | 7 min |
| 9 | Not completed | Ratios: Working Capital | 3 min |
| 10 | Not completed | Ratios: Current Ratio | 4 min |
| 11 | Not completed | Gross Profit vs Net Profit | 7 min |
| 12 | Not completed | Profit Margin | 4 min |
Chapter 2Practice Problems
| Click Here to View All Problems at Once | View | ||
| 1 | Not completed | Current Assets | Easy |
| 2 | Not completed | Effect on the Current Ratio | Easy |
| 3 | Not completed | Retained Earnings | Easy |
| 4 | Not completed | Solving for Missing Amounts | Moderate |
| 5 | Not completed | Account Classifications You are here. | Hard |
| 6 | Not completed | Calculating Operating Income | Hard |