1) Types a delivery van by paying $7.500 and by a A) The delivery and $17,500 The delivery van accided for 545,000 19) Eagle Crest Company has prided the following information for its recent your af The lace at the beginning of the year was 500,000 and the your and A) C D$42,500 201 Which fling accent balances wouldnt be included in the calculation of the ) ACC 514 - Financial Accounting and Analysis BiCon of goods sold 22) Which of the following statements i A) Divided component of Income Income from Operations in decreased by a low Ope th Dy but bele her he the 23) Then has been provided by Mi What is the add in the Obertion of Miller's m A CST4 6 of 17 18) Trane company purchases a delivery van by paying $7,500 cash and by signing a $37,500 note payable. Which of the following correctly describes the recording of the delivery van purchase? A) The delivery van account is debited for $37,500. Notes payable is debited for $37,500 The delivery van account is debited for $45,000 Di Cash is debited for $7,500 19 Eagle Crest Company has provided the following information for its recent year of operation The common stock account balance at the beginning of the year was $60,000 and the year-end balance was $75,000. The additional paid-in capital account balance increased 57,500 during the year. The retained earnings balance at the beginning of the year was $225,000 and the year-end balance was $273,000 Net income was $78,000 How much did Eagle Crest sell its common stock for during the year? A) $15,000 B) $7,500 C) $22,500 D) $82.500 20) Which of the following account balances wouldnot be included in the calculation of the current ratio A) Accounts receivable Version 1 ACC 514- Financial Accounting and Analysis B Short-term investments C) Equipment Di Supplies 21) Which of the following costs is most likely to be the largest expense reported on the income statement of a merchandiser, such as Walmart Stores, Incorporated? A) Utilities expense B) Cost of goods sold Advertising expense D) Income tax expens 22) Which of the following statements is correct? A) Dividend revenue is a component of Income from Operation B) Income from Operations is decreased by a loss from the sale of plant assets CA gain on the sale of a stock investment increases Income from Operations D) Income before taxes occurs before Other Items on the income statement. 18) Trane company purchases a delivery van by paying $7,500 cash and by signing a $37,500 note payable. Which of the following correctly describes the recording of the delivery van purchase? A) The delivery van account is debited for $37,500. B) Notes payable is debited for $37,500. C) The delivery van account is debited for $45,000. D) Cash is debited for $7,500. 19) Eagle Crest Company has provided the following information for its recent year of operation: The common stock account balance at the beginning of the year was $60,000 and the year-end balance was $75,000. The additional paid-in capital account balance increased $7,500 during the year. The retained earnings balance at the beginning of the year was $225,000 and the year-end balance was $273,000. Net income was $78,000. How much did Eagle Crest sell its common stock for during the year? A) $15,000 B) $7,500 C) $22.500 D) $82,500 20) Which of the following account balances wouldnot be included in the calculation of the current ratio? A) Accounts receivable Version 1 ACC 514 - Financial Accounting and Analysis B) Short-term investments C) Equipment D) Supplies 21) Which of the following costs is most likely to be the largest expense reported on the income statement of a merchandiser, such as Walmart Stores, Incorporated? A) Utilities expense B) Cost of goods sold C) Advertising expense D) Income tax expense