ACC 561 Assignment Wiley Plus Week 1

Topics: Balance sheet, Generally Accepted Accounting Principles, Accounting equation Pages: 3 (610 words) Published: October 30, 2014

This paperwork ACC 561 Assignment Wiley Plus Week 1 includes answers to these exercises:

Brief Exercise 1-7

Indicate which statement you would examine to find each of the following items: income statement, balance sheet, retained earnings statement, or statement of cash flows.

Revenue during the period.

Supplies on hand at the end of the year.

Cash received from issuing new bonds during the period.

Total debts outstanding at the end of the period.

Brief Exercise 1-8

Use the basic accounting equation to answer these questions.

(a) The liabilities of Daley Company are $94,410 and the stockholders’ equity is $241,000. What is the amount of Daley Company’s total assets?

Total assets

(b) The total assets of Laven Company are $181,800 and its stockholders’ equity is $84,800. What is the amount of its total liabilities?

Total liabilities

(c) The total assets of Peterman Co. are $910,600 and its liabilities are equal to one fourth of its total assets. What is the amount of Peterman Co.’s stockholders’ equity?

Stockholders’ equity

Business - Accounting

BE 1-7: Indicate which statement you would examine to find each of the following items: income statement (I), balance sheet (B), retained earnings statement (R), or statement of cash flows (C). (a) Revenue during the period.

(b) Supplies on hand at the end of the year.
(c) Cash received from issuing new bonds during the period. (d) Total debts outstanding at the end of the period.

BE 1-8: Use the basic accounting equation to answer these questions. (a)The liabilities of Cummings Company are $90,000 and the stockholders' equity is $230,000. What is the amount of Cummings Company's total assets?

(b)The total assets of Haldeman Company are $170,000 and its stockholders' equity is $90,0...

Complete course guide available here - https://bitly.com/12BitbK

College is not always an...
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • ACC 561 Assignment Wiley Plus Week 2 Essay
  • ACC 205 Week 1 Assignment Essay
  • ACC 421 Final Exam Wiley Plus Essay
  • ACC 561 Week 1-6 Wiley Plus Assignments, Quizzes, Discussion Questions Study Guides with Example Papers
  • ACC 561 Week 1 WileyPlus Exercise 1-7, 1-8, and Quiz Study Guide Essay
  • ACC 561 Week 1 paper
  • ACC 561 Assignment Wiley Plus Week 4 Research Paper
  • ACC 205 WEEK 1 ASSIGNMENT Research Paper

Become a StudyMode Member

Sign Up - It's Free