Accountancy Test Questions with Answers Essay

Accountancy Test Questions with Answers Essay Accountancy Test Questions with Answers Essay 160. At October 1, Arcade Fire Enterprises reported stockholders' equity of $35,000. During October, common stock of $5,000 was issued and the company posted a net loss of $2,000. If stockholders' equity at October 31 totals $35,000, what amount of dividends were paid during the month? âÅ"” 1. a. $0 2. b. $2,000 3. c. $3,000 - Given 4. d. $5,000 143. Black Keys Company began the year with stockholders' equity of $185,000. During the year, the company recorded revenues of $250,000, expenses of $190,000, and paid dividends of $20,000. What was Black Keys’ stockholders' equity at the end of the year? âÅ"â€" 1. a. $185,000. 2. b. $225,000. 3. c. $245,000. - Given 4. d. $265,000. 134. An income statement âÅ"â€" 1. a. summarizes the changes in retained earnings for a specific period of time. 2. b. reports the changes in assets, liabilities, and stockholders` equity over a period of time. 3. c. reports the assets, liabilities, and stockholders` equity at a specific date. 4. d. presents the revenues and expenses for a specific period of time. 151. Teamboo Company’s stockholders' equity at the beginning of August 2013 was $300,000. During the month, the company earned net income of $70,000 and paid dividends of $30,000. At the end of August 2013, what is the amount of stockholders' equity? âÅ"â€" 1. a. $270,000 2. b. $300,000 - Given 3. c. $330,000 4. d. $340,000 135. If the retained earnings account increases from the beginning of the year to the end of the year, then âÅ"â€" 1. a. net income is less than dividends. 2. b. a net loss is less than dividends. - Given 3. c. the company must have sold stock. 4. d. net income is greater than dividends. 154. Stahl Consulting started the year with total assets of $20,000 and total liabilities of $5,000. During the year, the business recorded $16,000 in catering revenues and $10,000 in expenses. Stahl issued stock of $3,000 and paid dividends of $5,000 during the year. The net income reported by Stahl Consulting for the year was: âÅ"â€" 1. a. $1,000. 2. b. $4,000. - Given 3. c. $6,000. 4. d. $9,000. 149. Misra Company compiled the following financial information as of December 31, 2013: Revenues $170,000 Retained earnings (1/1/13) 30,000 Equipment 40,000 Expenses 125,000 Cash 45,000 Dividends 10,000 Supplies 5,000 Accounts payable 20,000 Accounts receivable 35,000 Common stock 40,000 Misra’s assets on December 31, 2013 are âÅ"” 1. a. $90,000. 2. b. $125,000. - Given 3. c. $180,000. 4. d $245,000. 170. The organization(s) primarily responsible for establishing generally accepted accounting principles is(are) the FASB SEC âÅ"â€" 1. a. no no 2. b. yes no - Given 3. c. no yes 4. d. yes yes 136. Mofro’s Computer Repair Shop started the year with total assets of $270,000 and total liabilities of $180,000. During the year, the business recorded $450,000 in computer repair revenues, $270,000 in expenses, and Mofro paid dividends of $45,000. Stockholders' equity at the end of the year was âÅ"â€" 1. a. $180,000. 2. b. $210,000. - Given 3. c. $225,000. 4. d. $270,000. 168. Auditing is âÅ"â€" 1. a. the examination of financial statements by a CPA in order to express an opinion on their fairness. 2. b. a part of accounting that involves only recording of economic events. 3. c. an area of accounting that involves such activities as cost accounting, budgeting, and accounting information systems. - Given 4. d. conducted by the Securities and Exchange Commission to ensure that registered financial statements are presented fairly. 157. At October 1, Arcade Fire Enterprises reported stockholders' equity of $35,000. During October, no stock was issued and the company earned net income of $9,000. If stockholders' equity at October 31 totals $39,000, what amount of dividends were paid during the month? âÅ"â€" 1. a. $0 2. b. $4,000 - Given 3. c. $5,000 4. d. $13,000 145. Centro-matic Company began the year with stockholders' equity of $15,000. During the year, Centro-matic issued additional shares of stock in exchange for cash of $21,000, recorded expenses of

How to Contact the Prime Minister of Canada by Email

How to Contact the Prime Minister of Canada by Email According to the Office of the Prime Minister: The Prime Minister greatly values the thoughts and suggestions of Canadians. Canadians may submit a letter or query online, send email, send a letter via post, fax or call the Office of the Prime Minister. Email pmpm.gc.ca Mailing Address Office of the Prime Minister80 Wellington StreetOttawa, ON K1A 0A2 Phone Number (613) 992-4211 Fax Number (613) 941-6900 Request for Birthday or Anniversary Greetings A Canadian may make a request online for a birthday, wedding anniversary or union greeting  from the prime minister, also this can be done via post or fax. The prime minister sends congratulatory certificates to Canadians celebrating significant birthdays, such as 65th birthdays and up, at 5-year intervals, as well as 100th birthdays and up. The Prime Minister sends congratulatory certificates to Canadians celebrating significant wedding anniversaries or anniversary of life together unions for 25th anniversaries and up, at 5-year intervals. Gifts for the Prime Minister and Family Many Canadians choose to offer gifts to the prime minister and family. The Office of the Prime Minister considers these as kind and generous gestures. Security regulations and the Federal Accountability Act passed in 2006 prevent and preclude the prime minister and family from accepting many gifts. All monetary gifts and gift certificates will be returned to the sender. Some items, such as perishable goods, cannot be accepted for security reasons.