Based on the following information, compute:

1. Total assets
2. Total liabilities
3. Total Stockholders Equity

Cash=100

Common stock dividends distributable=200

Bonds payable=400

Common stock=500

Dividends payable=40

Retained earnings=600

Treasury Stock=70

Investments=700

4. Name the 3 product costs
5. Give an example of a period cost
6. In process cost system, when process a is completed, it goes to process b. Prepare the journal entry if Process a was competed at $199.
7. Applied manufacturing overhead to production=200
8. Applied factory labor of 5,000: 3,000 to specific jobs and the balance to general factory
9. Requested raw materials from warehouse into the factory of 1,000, of which 900 was for direct materials and the balance was for indirect materials.
10. Calculate gross profit if:

Net sales=100

Cost of goods manufactured=20

Cost of goods sold=33

11. Calculate cost of goods manufactured if:

Beginning work in process=100

End work in process=30

DM used= 20

DL used=49

MO =24

COGS=50

12. Journalize the issuance of a stock dividend that was 5% of 500,000 common shares outstanding and par value was $2 and selling price was $20
13. Prepare the journal entry in a job order cost system, when made a $1,000 sale on account. Cost was $400.
14. Prepare the journal entry for a 2:1 stock split when there were 100,000 common shares outstanding, par value is $2 per share and selling price is $20 per share
15. Calculate manufacturing overhead total based on the following:

Direct material=100

Indirect material=29

Assembly line workers=1000

Factory supervisor=500

Office rent =400

Factory Taxes=3000

16. Prepare the journal entry for purchasing $100,000 bonds for cash.
17. Prepare the journal entry when purchased $1,000 raw materials on account.
18. Prepare the journal entry for issuing $300,000 bonds for cash at 98.
19. In essay form, make sure that your answer includes the answers to the following questions:
20. a) explain what a statement of cash flows is
21. b) why it is needed
22. c) the three cash flow activities
23. d) explain which cash flow activity, the following would be included under, whether it is an inflow or outflow, or whether it is not a cash flow activity and why not.
24. depreciation expense
25. cash dividends declared

3. sold equipment for cash