Question :
85. The retained earnings statement should be prepared A. before the income statement : 1227143
85. The retained earnings statement should be prepared A. before the income statement and after the balance sheetB. before the income statement and balance sheetC. after the income statement and balance sheetD. after the income statement and before the balance sheet
86. The income statement should be prepared A. before the retained earnings statement and balance sheetB. after the retained earnings statement and before the balance sheetC. after the retained earnings statement and balance sheetD. after the balance sheet and before the retained earnings statement
87. Use the information in the adjusted trial balance for Stockton Company to answer the questions that follow.
Stockton Company
Adjusted Trial Balance
For the Year Ended December 31, 20XX
Cash
$ 6,030
Accounts Receivable
2,100
Prepaid Expenses
700
Equipment
13,700
Accumulated Depreciation
$ 1,100
Accounts Payable
1,900
Notes Payable
4,200
Capital Stock
2,000
Retained Earnings
10,940
Dividends
790
Fees Earned
8,750
Wages Expense
2,500
Rent Expense
1,960
Utilities Expense
775
Depreciation Expense
250
Miscellaneous Expense
85
Totals
$28,890
$28,890
Determine the net income (loss) for the period. A. net income, $2,390B. net loss, $790C. net loss, $5,570D. net income, $3,180
88. Use the information in the adjusted trial balance for Stockton Company to answer the questions that follow.
Stockton Company
Adjusted Trial Balance
For the Year Ended December 31, 20XX
Cash
$ 6,030
Accounts Receivable
2,100
Prepaid Expenses
700
Equipment
13,700
Accumulated Depreciation
$ 1,100
Accounts Payable
1,900
Notes Payable
4,200
Capital Stock
2,000
Retained Earnings
10,940
Dividends
790
Fees Earned
8,750
Wages Expense
2,500
Rent Expense
1,960
Utilities Expense
775
Depreciation Expense
250
Miscellaneous Expense
85
Totals
$28,890
$28,890
Determine the Retained Earnings ending balance. A. $10,150B. $13,330C. $14,120D. $10,940
89. Use the information in the adjusted trial balance for Stockton Company to answer the questions that follow.
Stockton Company
Adjusted Trial Balance
For the Year Ended December 31, 20XX
Cash
$ 6,030
Accounts Receivable
2,100
Prepaid Expenses
700
Equipment
13,700
Accumulated Depreciation
$ 1,100
Accounts Payable
1,900
Notes Payable
4,200
Capital Stock
2,000
Retained Earnings
10,940
Dividends
790
Fees Earned
8,750
Wages Expense
2,500
Rent Expense
1,960
Utilities Expense
775
Depreciation Expense
250
Miscellaneous Expense
85
Totals
$28,890
$28,890
Determine total assets. A. $23,630B. $15,330C. $21,430D. $22,530
90. Use the information in the adjusted trial balance for Stockton Company to answer the questions that follow.
Stockton Company
Adjusted Trial Balance
For the Year Ended December 31, 20XX
Cash
$ 6,030
Accounts Receivable
2,100
Prepaid Expenses
700
Equipment
13,700
Accumulated Depreciation
$ 1,100
Accounts Payable
1,900
Notes Payable
4,200
Capital Stock
2,000
Retained Earnings
10,940
Dividends
790
Fees Earned
8,750
Wages Expense
2,500
Rent Expense
1,960
Utilities Expense
775
Depreciation Expense
250
Miscellaneous Expense
85
Totals
$28,890
$28,890
Determine the current assets. A. $22,530B. $8,830C. $21,430D. $8,130
91. Use the information in the adjusted trial balance for Stockton Company to answer the questions that follow.
Stockton Company
Adjusted Trial Balance
For the Year Ended December 31, 20XX
Cash
$ 6,030
Accounts Receivable
2,100
Prepaid Expenses
700
Equipment
13,700
Accumulated Depreciation
$ 1,100
Accounts Payable
1,900
Notes Payable
4,200
Capital Stock
2,000
Retained Earnings
10,940
Dividends
790
Fees Earned
8,750
Wages Expense
2,500
Rent Expense
1,960
Utilities Expense
775
Depreciation Expense
250
Miscellaneous Expense
85
Totals
$28,890
$28,890
Determine the total liabilities for the period. A. $1,900B. $6,100C. $4,200D. $19,040
92. The balance sheet should be prepared A. before the income statement and the retained earnings statementB. before the income statement and after the retained earnings statementC. after the income statement and the retained earnings statement D. after the income statement and before the retained earnings statement
93. The retained earnings statement begins with the beginning balance followed by A. net income (loss) and dividendsB. net income (loss) and issuances of capital stockC. issuances of capital stock and dividendsD. issuances of capital stock, net income (loss), and dividends
94. The income statement will include A. revenues less expenses (ordered largest to smallest amount) with miscellaneous expense listed lastB. revenues less expenses (ordered smallest to largest amounts) with miscellaneous expense listed lastC. revenues less expenses (ordered in alphabetical order)D. revenues less expenses (order is not important)
