UOP ACC 290 Week 1 WileyPLUS
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Marsh Corporation began operations on January 1, 2014. The following information is available for Marsh Corporation on December 31, 2014.
|Accounts payable||$ 7,580||Notes payable||$ 12,160|
|Accounts receivable||4,580||Rent expense||12,580|
|Advertising expense||4,320||Retained earnings||?|
Prepare an income statement for Marsh Corporation.
Prepare a retained earnings statement for Marsh Corporation. (List items that increase retained earnings first.)
Prepare a balance sheet for Marsh Corporation. (List assets in order of liquidity.)
The Clear View Golf & Country Club details the following accounts in its financial statements.
(a) Classify each of the following accounts as an asset, liability, stockholders’ equity, revenue, or expense item.
(b) Classify each of the following accounts as a financing activity, investing activity, or operating activity.
This information relates to Molina Co. for the year 2014.
After analyzing the data, prepare an income statement for the year ending December 31, 2014.
After analyzing the data, prepare a retained earnings statement for the year ending December 31, 2014. (List items that increase retained earnings first.)
The statement of financial position for Ruiz Company includes the following accounts (in British pounds): Accounts Receivable £12,500; Prepaid Insurance £3,600; Cash £15,400; Supplies £5,200; and Debt Investments (short-term) £6,700. Prepare the current assets section of the statement of financial position, listing the accounts in proper sequence. (List current assets in reverse order of liquidity. Do not enter currency symbols in your answer.)