Author: Anonymous

__________ is a techniques used in computers for managing complexity, this consists of hiding details when they are not important.

Gators Corp. reports net income of $520,000 for 2020 and declared a cash dividend of $1 per share on each of its 100,000 shares of common stock outstanding. What is the earnings per share for 2020?

Which of the following transactions will decrease total assets and decrease total stockholders’ equity?

Which of the following transactions will decrease total assets and decrease total stockholders’ equity?

Round all dollar amounts to the nearest dollar.   Yoshi Corp., a calendar year company, was incorporated on July 1, 2020. During 2020, Yoshi earned revenue of $549,000 and incurred expenses of $368,000. Yoshi paid $29,000 in dividends and issued $47,000 in additional stock. Yoshi has an ending cash balance of $79,000. What is Yoshi’s balance in Retained Earnings on December 31, 2020?

The basic purpose of generally accepted accounting principles is to:

The basic purpose of generally accepted accounting principles is to:

Which of the following is false with respect to the trial balance?

On January 1, Vader, Inc., a calendar year company, has total assets of $150,000 and total liabilities of $70,000. During the year, total assets increased by 35%. On December 31, Vader, Inc. had total liabilities of $102,500. By what percentage did total stockholders’ equity increase during the year?

Round all dollar amounts to the nearest dollar. On January 1, 2020, Bryan Corp., a calendar year company, had liabilities of $264,000 and assets of $615,000. During 2020, Bryan had the following transactions: Issued common stock for $50,000 cash. Purchased $35,000 of supplies on account. Paid expenses of $32,000. Sales on account totaled $134,000. Paid dividends of $14,000. What is the 2020 ending balance in Stockholders’ Equity for Bryan Corp.?