Question : 41.Which of the following accounts would not appear a balance : 1254349

41.Which of the following accounts would not appear on a balance sheet?   

A. Unearned Revenue.

B. Salaries Payable.

C. Interest Revenue.

D. Retained Earnings.

42.Woodward Enterprises had the following events during 2013:The business issued $20,000 of common stock to its stockholders.The business purchased land for $12,000 cash.Services were provided to customers for $16,000 cash.Services were provided to customers for $5,000 on account.The company borrowed $16,000 from the bank.Operating expenses of $12,000 were incurred and paid in cash.Salary expense of $800 was accrued.A dividend of $4,000 was paid to the owners of Woodward Enterprises.Assuming the company began operations during 2013, the amount of retained earnings as of December 31, 2013 would be:   

A. $4,200

B. $5,000

C. $8,200

D. $21,000

43.Which of the following would cause net income on the accrual basis to be different than (either higher or lower than) “cash provided by operating activities” on the statement of cash flows?   

A. Purchased supplies for cash.

B. Purchased land for cash.

C. Invested cash in an interest earning account.

D. All of the above are correct.

44.Ruiz Company provided services for $15,000 cash during the 2013 accounting period. Ruiz incurred $12,000 expenses on account during 2013, and by the end of the year, $3,000 of that amount had been paid with cash. Assuming that these are the only accounting events that affected Ruiz during 2013.   

A. The amount of net income shown on the income statement is $3,000.

B. The amount of net income shown on the income statement is $9,000.

C. The amount of net loss shown on the income statement is $3,000.

D. The amount of net cash flow from operating activities shown on the statement of cash flows is $6,000.

The following accounts and balances were drawn from the records of Hoover Company on December 31, 2013:  

45.Total assets on the December 31, 2013 balance sheet would amount to:   

A. $3,150.

B. $3,450.

C. $1,800.

D. $2,650.

46.The amount of net income shown on the December 31, 2013 income statement would amount to:   

A. $550.

B. $800.

C. $50.

D. $250.

47.The amount of retained earnings as of January 1, 2014 was:   

A. $1,475.

B. $1,800.

C. $975.

D. $1,225.

Norris Company experienced the following transactions during 2013, its first year in operation.1. Issued $6,000 of common stock to stockholders.2. Provided $2,300 of services on account.3. Paid $1,600 cash for operating expenses.4. Collected $1,900 of cash from accounts receivable.5. Paid a $100 cash dividend to stockholders.

48.The amount of net income recognized on Norris Company’s 2013 income statement is:   

A. $500.

B. $400.

C. $700.

D. $600.

49.The amount of net cash flow from operating activities shown on Norris Company’s 2013 statement of cash flows is   

A. $200.

B. $300.

C. $700.

D. $600.

50.The total amount of assets shown on Norris Company’s December 31, 2013 balance sheet is:   

A. $6,200.

B. $6,600.

C. $6,700.

D. None of these.