1) Which of the following accounts is recorded as part of stockholders equity on the Balance Sheet?

Long-term debt

Retained earnings

Revenue

Expenses

2) For 2014, CAP Corporation reported net income of $96,000; net sales $1,440,000; and weighted average shares outstanding of 9,600. There were no preferred dividends. What was the 2014 earnings per share? $100.00 $150.00 $10.00 $15.00

(TCO A) XYZ Company recorded the following events involving a recent merchandise purchase. - Received goods for $50,000, terms 2/10, n/30. - Returned $1,000 of the shipment for credit due to damaged goods. - Paid $1,500 for freight-in. - Paid the invoice within the discount period. 7) As a result of these events, the company's merchandise inventory

increased by $50,500.

increased by 49,500.

increased by $49,470.

increased by $49,520.