Need completed by Thursday 24 March need completed in full

Exercise #1 Points Presented below is a partial stockholders' equity section of Ruple Corporation's balance sheet on December 31, 2014: Stockholders' Equity Paid-In Capital Capital Stock Common Stock, $5 par value, 300,000 shares authorized; _____ shares issued and _____ outstanding............. Additional Paid-In Capital In excess of par value........................................................ Retained Earnings................................................................. Less: Treasury stock, 10,000 shares...................................... Total Stockholders' Equity............................................................ Instructions Complete the following statements and show your computations. a. The number of shares of common stock issued is __________. b. The number of shares of common stock outstanding is __________. c. The total paid in capital is $__________. d. The cost per share of the treasury stock was $__________. e. Total number of shares authorized is______________. $1,200,000 120,000 500,000 (120,000) $1,700,000 Exercise #2 Points The Remove-U-Tattoo Clinic purchased a surgical laser for $84,000 on January 1, 2014. The estimated salvage value is $4,000. The laser has a useful life of five years and the clinic expects to use it 10,000 hours. It was used for 900 hours in 2014; 2,100 hours in 2015; 2,400 hours in 2016. Instructions Showing all of your computations, compute the book value and the accumulated depreciation for December 31, 2015 under each of the following three methods: (1) Straight-line: 2015 accumulated depreciation ____________________ 2015 book value ____________________ (2) Units-of-activity: 2015 accumulated depreciation ____________________ 2015 book value ____________________ (3) Double-declining balance: 2015 accumulated depreciation ____________________ 2015 book value ____________________ Exercise #3 Points The adjusted trial balance accounts: Advertising Expense Cost of Goods Sold Depreciation Expens Freight-out Income Tax Expense Interest Expense Interest Revenue Merchandise Invent Prepaid Rent Sales Sales Discounts Sales Returns and A Store Salaries Expen Unearned Revenue Utilities Expense Prepare a multiple-step income statement, in proper form, for the year ended December 31, 2014 for Cosey Inc. Also known as a classified income statement 15,000 347,000 3,500 2,000 21,700 19,000 25,000 35,750 4,500 575,000 9,500 50,000 74,000 8,000 18,000 Answers to the 30 multiple choice questions 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30