2.All of the following companies,except would commonly record unearned revenues:

Retailers

Sports Terms

Airlines

3.Bean Company borrows 88,500 on September 1 with 12%,one year note.What is the accrued interest on Dec 31 of the same year?

4.Which of the following payroll taxes have annual caps/limits?

Medicare

Social Security

Federal Income Taxes

5.All of the following are ways a company can finance itself,except for:

Selling stock

Borrowing from a bank

Paying its liabilities

6.Which of the following is not a measure of liquidity?

Debt to assets ratio

Working capital

Current cash debt coverage

Wendy Construction issues a five-year, interest-bearing $25,000 note with the following key information: January 1, 2011 - note is issued for $25,000. Each January 1 - $5,000 to be paid. On the Dec 31, 2011 what portion is reported as a CURRENT liability