On October 1, Black Company receives a 8% interest-bearing note from Reese Company to settle a $22,200 account receivable. The note is due in six months. At December 31, Black should record interest revenue of

a.$451

b.$444

c.$441

d.$454

If fixed costs are $240,000, the unit selling price is $117, and the unit variable costs are $77, the break-even sales (units) is

a.1,237 units

b.6,000 units

c.2,051 units

d.3,117 units

Which of the following accounts ordinarily appears in the post-closing trial balance?

a.Dividends

b.Unearned Rent

c.Supplies Expense

d.Fees Earned

Stockton Company Adjusted Trial Balance December 31
Cash	6,381
Accounts Receivable	2,873
Prepaid Expenses	692
Equipment	14,105
Accumulated Depreciation		9,049
Accounts Payable		1,447
Notes Payable		5,176
Common Stock		1,000
Retained Earnings		4,685
Dividends	925
Fees Earned		7,530
Wages Expense	2,296
Rent Expense	879
Utilities Expense	473
Depreciation Expense	193
Miscellaneous Expense	70
Totals	28,887	28,887

Determine the total assets.

a.$15,002

b.$28,887

c.$5,685

d.$24,051

Finley Company End-of-Period Spreadsheet For the Year Ended December 31
	Adjusted Trial Balance		Income Statement		Balance Sheet
Account Title	Debit	Credit	Debit	Credit	Debit	Credit
Cash	16,000				16,000
Accounts Receivable	6,000				6,000
Supplies	2,000				2,000
Equipment	19,000				19,000
Accumulated Depr.		6,000				6,000
Accounts Payable		10,000				10,000
Wages Payable		2,000				2,000
Common Stock		5,000				5,000
Retained Earnings		8,263				8,263
Dividends	1,000				1,000
Fees Earned		42,623		42,623
Wages Expense	19,309		19,309
Rent Expense	5,698		5,698
Depreciation Expense	4,879		4,879
Totals	73,886	73,886	29,886	42,623	44,000	31,263
Net Income (Loss)			12,737			12,737
			42,623	42,623	44,000	44,000

The ending balance of retained earnings is

a.$12,737

b.$20,000

c.$13,263

d.$0

A building with a book value of $42,605 is sold for $54,768 cash. Using the indirect method, this transaction should be shown on the statement of cash flows as follows:

an increase of $42,605 from investing activities and an addition to net income of $12,163

an increase of $54,768 from investing activities

an increase of $42,605 from investing activities

an increase of $54,768 from investing activities and a deduction from net income of $12,163

Tea Pot Company sells 20,000 small tea pots (a "unit") at $19 per unit. Variable costs are $10 per unit, and fixed costs are $100,000. The contribution margin is

$10 per unit $11 per unit $9 per unit $4 per unit