PURRFECT PETS, INC. Balance Sheet at June 30, Year 1
Assets		Liabilities
Cash	$732,600	Accounts Payable	$349,200
Accounts Receivable	419,200	Notes Payable due June 30, Year 3	268,900
Supplies	58,400	Total Liabilities	618,100
Equipment	118,500
Other Assets	69,400	Stockholders' Equity
		Common Stock	662,100
		Retained Earnings	117,900
		Total Stockholders' Equity	780,000
Total Assets	$1,398,100	Total Liabilities & Stockholders Equity	$1,398,100

How much financing did the stockholders of Purrfect Pets, Inc., directly contribute to the company?

a) 117,900

b) 662,100

c) 780,000

d) 1398,100

5)

Which account would be decreased with a credit?

Cash

Accounts Payable

Common Stock

Retained Earnings

Which amount should be reported as cash on the balance sheet?

The ending cash balance per the bank statement

The beginning cash balance per the bank statement

The up-to-date ending cash balance per the bank reconciliation

The ending cash balance per the books