1. The accounts that represent the resources of the company are called This is the month-end for Certified. Prepare the financial statements in good form at August 31, 2017 Glendale Answering Service, Inc Adjusted Trial Balance August 31, 2017 Cash $ 12,800 2,750 Allowance for uncollectable accounts Prepaid Insurance Office Equipment Accum Dep: Office Equipment Accounts Payable Unearned Revenue Common Stock, August 1, 2017 Retained Earnings, August 1, 2017 Dividends Answering Service Revenue Wages Expense Office Supplies Expense Depreciation Exp: Office Equipment Income Taxes Expense 250 200 3,400 600 1,650 1,600 10,530 2,870 400 3.020 6,100 480 450 100 23,600 3. What is the primary purpose of financial accounting? a. Determine the amount of tax liability owed to the govemment b. Communicate business transactions to internal management c. Measure business transactions and communicate those measures to external users to make decisions. d. Measure the profitability of the company in order to assist employees with making decisions. Steve's BarBQ borrowed $10,000 to start the business on October 1, 2016. The interest and principal were to be paid in March 2017, The interest rate is 7% annually, what entry was made at the end of the year - December 31, 2016? Make the entry in proper form 4. At the beginning of the year, Southside Company assets were $590,000 and Stockholders' Equity was $275,000. During the year, Assets increased $75,000 and Liabilities decreased $40,000. What was S/E at the end of the year. 5. Looking at the Disney balance sheet, prove that the accounting equation works for 2016. This would be showing that assets equal liabilities plus stockholders' equity 6. 7. Uneamed revenues are recorded by companies that a. Receive money at the time the performance of a service is complete b. Receive money in advance of the performance of a service c. Pay money at the time the performance of a service is complete d. Pay money in advance of the performance of a service