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Accounts Payable $4,400 Salaries Expense 12,800 Cash 1,700 Common Stock 2,400 Service Revenue 8,300 Supplies 4,300 Retained Earnings 1,100 Utilities Expense 5,000

250)

How many of these accounts would appear in a year-end income stateme

Accounts Payable $4,400 Salaries Expense 12,800 Cash 1,700 Common Stock 2,400 Service Revenue 8,300 Supplies 4,300 Retained Earnings 1,100 Utilities Expense 5,000

250)

How many of these accounts would appear in a year-end income statement?

A) Three. B) Four. C) Five. D) Two.

210. Temporary accounts are found
     1. On neither the Balance Sheet and Income Statements
     2. On the Balance Sheet
     3. On the Income statesmen
     4. On both the Balance Sheet and Income Statements

211. Which is true about the Cash Flow Statement?
     1. It shows all significant changes to the company, including noncash items
     2. It only shows items that are cash flows to the firm.

212. In an installment loan
     1. later payments pay the same principal as earlier payments
     2. later payments pay less principal than earlier payments
     3. later payments pay more principal than earlier payments
     4. it depends on the interest rate
213. A company in NY is buying goods from a Japanese company. The goods are sold FOB San Francisco port
     1. The freight from Japan to San Francisco is an asset, the freight from San Francisco to New York is an expense
     2. The freight from Japan to San Francisco is an expense, the freight from San Francisco to New York is an Asset
     3. Both the freight from Japan to San Francisco and from San Francisco to New York are assets
     4. Both the freight from Japan to San Francisco and from San Francisco to New York are expenses

214. Cost of goods sold $420,000 Sales revenue 800,000 Nonoperating expenses 10,000 Operating expenses 170,000 Income tax expense 80,000

     220)

     What is operating income?

     A) $210,000. B) $200,000. C) $380,000. D) $120,000.

215. The correct order from the smallest number of shares to the largest number of shares is:
     1. Issued, authorized, and outstanding. B) Authorized, issued, and outstanding.

216. C) Issued, outstanding, and authorized. D) Outstanding, issued, and authorized.

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