Question : 81. Notes Receivable due in 350 days appear the A. balance sheet in : 1247054

81. Notes Receivable due in 350 days appear on the A. balance sheet in the current assets sectionB. balance sheet in the fixed assets sectionC. balance sheet in the current liabilities sectionD. income statement as an expense

82. Unearned Fees appear on the A. balance sheet in the current assets sectionB. balance sheet as a current liabilityC. balance sheet in the stockholders’ equity sectionD. income statement as revenue

83. Which one of the fixed asset accounts listed below will not have a related contra asset account? A. Office EquipmentB. LandC. Delivery EquipmentD. Building

84. Prepaid insurance is reported on the balance sheet as a A. current assetB. fixed assetC. current liabilityD. long-term liability

85. The income statement is prepared from:  A. the adjusted trial balance.B. the income statement columns of the work sheet.C. either the adjusted trial balance or the income statement columns of the work sheet.D. both the adjusted trial balance and the income statement columns of the work sheet.

86. Round-tripping is when A. a selling company sells to a customer company with huge discounts.B. a selling company pretends to sell to a fictitious company with the intent of inflating revenuesC. a selling company lends money to a customer company to increase assets.D. a selling company lends money to a customer company to be used to purchase goods from the selling company.

87. 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

88. 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

89. When preparing the Retained Earnings Statement, the beginning balance should be followed by ____ to arrive at the ending balance of retained earnings. A. capital stock plus net income (loss)B. investments less dividendsC. net income (loss) less dividendsD. investments plus net income (loss) less dividends

90. Use the following information in the adjusted trial balance for Stockton Company to answer Questions 16-20. 

Stockton Company

Adjusted Trial Balance

For the Year ended December 31, 2010

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

12,940

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