l

ST 16. During 2021. Genoa Corporation had revenues of 539,600 and expenses of $31,200 Dividends of $5,600 were paid during the year and additional stock was issued for 54,280. If total assets and total liabilities on January 1, 2021. were $26.000 and $11.200, respoctively, how much is stockholdets equity on December 31, 2017 a $27.480 b. $21,880 CS16,280 d $13.080 17. Boudin Corporation, a calendar-year company, obtained a $15.000, one-year, 10 percent bank loan on October 31 of the current year. Interest is payable at the end of the loan term. The adjusting entry needed on December 31 is A debit to Interest Expense of $1.500 and a credit to Interest Payable of $1,500 b. debit to Interest Payable of S1,500 and a credit to interest Expense of 1.500 A debit to Interest Expense of S250 and a credit to Interest Payable of S250 d. A debit to Interest Expense of $250 and a credit to Cash of $250 18. The following information was taken from the records of McDyce Corporation for the year ended December 31. c. 2021: Dividends paid Service revenue Accounts payable Common stock Total expenses Retained carings (1/1/2021) $ 12.800 90,500 139,750 378,750 67,000 43,400 The Retained Earnings at December 31, 2021 was a $23.500 b. $54,100 c. $43,400 d. $72.750 19. On May 1, James Corporation had total assets of $877.000. During May, the company completed the following transactions: Barry Saunder, an owner in the firm, donated equipment to James Corporation. The equipment had a value of $6,700 at the time it was acquired by the firm Purchased a building for $78,000 and signed a note for the purchase. Purchased S1,500 of supplies for cash. After these transactions were recorded, total assets would have a balance of a $963,200 b. $961,700 c. $963.000 d. $945,700 20 The 2021 accrual-basis income statement for Razorri Corporation reports sales revenue of $81,000. The related balance sheet accounts for the beginning and end of the year were Jan. 1.2021 Dec 31, 2021 Unearned Sales Revenue 0 S29 250 Accounts Receivable 6,750 2,250 Based on this information, the amount of cash collected during 2021 from Razor's customers was $81,000 b. $119,250 c. S114,750 d. $99,000 a