1) Using the key below,

Cash		Accounts receivable		Inventory		Equipment		Accumulated depreciation		Accounts payable		Capital stock		Retained earnings
1	2	3	4	5	6	7	8	9	10	11	12	13	14	15	16

where should a corporation record purchasing goods on account?

5 and 12

5 and 16

11 and 6

15 and 6

2) Using the key below,

Cash		Accounts receivable		Inventory		Equipment		Accumulated depreciation		Accounts payable		Capital stock		Retained earnings
1	2	3	4	5	6	7	8	9	10	11	12	13	14	15	16

where should a corporation record purchasing equipment for cash?

7 and 2

7 and 16

1 and 8

15 and 8

3) Using the key below,

Cash		Accounts receivable		Inventory		Equipment		Accumulated depreciation		Accounts payable		Capital stock		Retained earnings
1	2	3	4	5	6	7	8	9	10	11	12	13	14	15	16

where should a corporation record selling goods with a cost of $10 to a customer on account for $20?

3, 6, 15, and 16

1, 6, 15, and 16

1, 4, 15 and 16

4, 5, 15, and 16

4) A company has recorded events for a month in the worksheet below:

	Assets						Liabilities				Owners' equity
	Cash		Current assets		Long-term assets		Current liabilities		Long-term liabilities		Capital stock		Retained earnings
	+	-	+	-	+	-	+	-	+	-	+	-	+	-
Beginning	1,000											600		400
Bought furniture					100			100
Sold goods				11									11
Earned revenues			20											20
Sales expenses		3											3
Dividends		2											2
Balance	995		9		100			100				600		404

A cash flow statement created from the worksheet should report cash flows used for financing of

$4

$3

$5

$2