QUESTIONS ARE GIVEN. PLS CHOSE THE CORRECT ANSWER AMONGST THE GIVEN CHOICES(A-E)

Question

QUESTIONS ARE GIVEN. PLS CHOSE THE CORRECT ANSWER AMONGST THE GIVEN CHOICES(A-E)

Problem 12c: Stockholders' Equity: Comprehensive Review 1. Bussey's Home Furnishings' chart of accounts is shown below. ccount Number ccount Name Cash Accounts Receivable Merchandise Inventory Store Supplies Display Equipment Accum. Depr., Display Equipment Accounts Payable Income laxes Payable Preferred Stock Common Stock Additional Paid-in Capital, Common Stock Retained Earnings Dividends Sales Cost of Goods Sold Wages Expens Advertising Expense Rent Expense Store Supplies Expense Depreciation Expense, Display Equipment Telephone Expense nco se 113 115 121 122 211 213 311 313 314 321 351 411 511 521 523 525 527 528 529 551 me Taxes Expen

Explanation / Answer

36)   C (since the amount is payable) 37) C (Sales net of expenses) 38) B (since asset will be net of dep) 39) B (includes cy profits 875) 40) B (given in TB) 41) None (the remaining profits are $1,775 - $900) 42) E Same as total assets 43) A ($ 1,775 less $ 900) 44) A Since retained earning are nil

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