ACCOUNTING HELP

5 he financial statements included in the annual report to shareholders are least useful to the which one of the following? A. Stockbrokers. B. Bankers preparing to lend money. C. Competing businesses. D. Managers in charge of operating activities. 6 According to the FASB's conceptual framework, which of the following best describes the distinction between expenses and losses? A. Losses are reported net of related tax effect, and expenses are not. B. Losses are decreases in net assets, and expenses are not. C. Losses are material, and expenses are immaterial. expenses result from ongoing D. Losses result from peripheral or incidental transactions, and major or central operations the [7] Mill Co.'s trial balance included the following account balances at December 31, Year 6 $15,000 Accounts payable 25,000 Bonds payable, due Year 7 Discount on bonds payable, due Year 7 3,000 8,000 Dividends payable 1/31/Year 7 Notes payable, due Year 8 20,000 Year 6 What amounts should be included in the current liability section of Mill's December 31, balance sheet? A. $45,000 B. $51,000 C. $65,000 D. $71,000 c 8 J Pemco Enterprises sells annual memberships to its shooting lodge. The memberships $240 each. On January 1, Pemco sold 2,000 memberships and received cash. How much revenue should Pemco recognize on January 1? A) $0 B) $480,000 C) $240,000