Andrea Apple opened Apple Photography on January 1 of the current year. During January, the following transactions occurred and were recorded in the company’s books: 1. Andrea invested $13,700 cash in the business. 2. Andrea contributed $22,000 of photography equipment to the business. 3. The company paid $2,300 cash for an insurance policy covering the next 24 months. 4. The company received $5,900 cash for services provided during January. 5. The company purchased $6,400 of office equipment on credit. 6. The company provided $2,950 of services to customers on account. 7. The company paid cash of $1,700 for monthly rent. 8. The company paid $3,300 on the office equipment purchased in transaction #5 above. 9. Paid $295 cash for January utilities. Based on this information, the balance in the A. Apple, Capital account reported on the Statement of Owner’s Equity at the end of the month would be: Multiple Choice $34,200. $41,600. $33,550. $42,555. $32,855. Is the service revenue on account added to the revenue, and what about the prepaid insurance payment do you add that to expenses when figuring net income?
QUESTION 2 Find the average value of the function f(x,y) = 20 – 2y over the rectangle R = [0,3] x [0,5]. A f_ave = 0 B f_ave = 75 C f_ave = 15 D f_ave = 3 E None of these
Question 21 The objective of the Motorist Assurance Program is to strengthen the relationship between the motorist and the service provider through A. Educating customers by explaining inspection recommendations B. Providing Technicians with “tools” for good customer communications C. Setting standards for participating shops to follow D. All of the above
Question 4 All 5-digit ZIP codes in the state of Wisconsin start with either 53 or 54. For example, the ZIP code in Madison, WI is 53702 and the ZIP code in Catawba, WI is 54515. How many ZIP codes are possible to us\in the state of Wisconsin?
Carla Vista Corporation purchases a patent from Sandhill Company on January 1, 2024 for 99,120. The patent has a remaining legal life of 16 years. Carla Vista feels the patent will be useful for 10 years. Assume that at January 1, 2026, the carrying amount of the patent on Carla Vista’s books is 79,296. In January, Carla Vista spends $23,600 successfully defending a patent suit. Carla Vista still feels the patent will be useful until the end of 2033. Prepare Carla Vista’s journal entries to record straight-line amortization for 2024 and 2026. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select “No Entry” for the account titles and enter 0 for the amounts. List all debit entries before credit entries. Record entries in the order displayed in the problem statement.) Date Account Titles and Explanation Debit Credit
The principles of internal control include: Require automated sales systems. Separate recordkeeping from custody of assets. Bond all employees. Use only computerized systems. Maintain minimal records.
Ivanhoe Corporation purchased Oriole Company 3 years ago and at that time recorded goodwill of 705,600. The Division’s net identifiable assets, including the goodwill, have a carrying amount of 1,176,000. The fair value of the division is estimated to be $1,078,000. Prepare Ivanhoe’s journal entry, if necessary, to record the impairment of the goodwill. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select “No Entry” for the account titles and enter 0 for the amounts. List debit entry before credit entry.) Account Titles and Explanation Debit Credit
