A) Statement of financial position.
B) Statement of cash flows.
C) Balance sheet.
D) Income statement.
E) Statement of owner's equity.
163) Cash investments by owners are listed on which of the following statements?
A) Statement of owner's equity and income statement.
B) Income statement only.
C) Statement of owner's equity only.
D) Statement of cash flows only.
E) Statement of owner's equity and statement of cash flows.
164) Accounts payable appear on which of the following statements?
A) Balance sheet.
B) Income statement.
C) Statement of owner's equity.
D) Statement of cash flows.
E) Transaction statement.
165) The income statement reports all of the following except:
A) Revenues earned by a business.
B) Expenses incurred by a business.
C) Assets owned by a business.
D) Net income or loss earned by a business.
E) The time period over which the earnings occurred.
166) Use the following information as of December 31 to determine equity.
| Cash | $ | 57,000 | ||
| Buildings | 175,000 | |||
| Equipment | 206,000 | |||
| Liabilities | 141,000 | |||
A) $57,000.
B) $141,000.
C) $297,000.
D) $438,000.
E) $579,000.
167) Use the following information for Meeker Corp. to determine the amount of equity to report.
| Cash | $ | 70,000 | ||
| Buildings | 125,000 | |||
| Land | 205,000 | |||
| Liabilities | 130,000 | |||
A) $390,000.
B) $140,000.
C) $20,000.
D) $530,000.
E) $270,000.
168) Determine the net income of a company for which the following information is available for the month of July.
| Employee salaries expense | $ | 180,000 | ||
| Interest expense | 10,000 | |||
| Rent expense | 20,000 | |||
| Consulting revenue | 400,000 | |||
A) $190,000.
B) $210,000.
C) $230,000.
D) $400,000.
E) $610,000.
169) Determine the net income of a company for which the following information is available for the month of September.
| Service revenue | $ | 300,000 | ||
| Rent expense | 48,000 | |||
| Utilities expense | 3,200 | |||
| Salaries expense | 81,000 | |||