Sakuntala

ACC 2101 Fall 2009 Practice Midterm Exam Name______________________________________ Section __________________ pattern Professor_____________________________________ This run consists of 4 pages and 20 multitiple choice sus inditeses. Time allowed to manage the trial run is 60 minutes. enrapture put your pen or pencil down IMMEDIATELY when time is called. Please mark the silk hat answer on the scantron sheet You whitethorn write on this question sheet, but you must pass it in with the scantron sheet at the end of the exam period. practice session the following information for questions 1–2. Jimmys cable car sterilize computer storage started the year with add assets of $270,000 and total liabilities of $180,000. During the year, the business enter $450,000 in car repair revenues, $255,000 in expenses, and the company prove dividends of $45,000. 1.The net income report by Jimmys Car Repair Shop for the year was a.$150,000. b.$195,000. c.$90,000. d.$405,000. 2. Jimmys Car Repair Shop, Stockholders fair play at the end of the year was a.$240,000. b.$225,000. c.$285,000. d.$195,000. 3.During the year 2008, Fredericton Enterprises earned revenues of $75,000, had expenses of $45,000, purchased assets with a equal of $15,000 and paid dividends of $5,000.

Net income for the year is a.$75,000. b.$60,000. c.$30,000. d.$10,000. 4.At January 1, 2008, Burton Industries reported stockholders equity of $ 130,000. During 2008, The caller-up had a n! et loss of $30,000 and paid dividends of $20,000. At celestial latitude 31, 2008, the amount of stockholders equity is a.$130,000. b.$140,000. c.$100,000. d.$80,000. 5.Chugach Cruise Lines purchased a five-year insurance policy for its ships on April 1, 2008 for $100,000. Assuming that April 1 is the impelling date of the policy, the adjusting approach on December 31, 2008 is a.Prepaid...If you want to encounter a undecomposed essay, order it on our website: OrderCustomPaper.com

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