Question 1

During fiscal 2016, Plastics and Synthetic Resins Company recorded cash of $87,800 from customers for accounts receivable collections. Which of the following financial statement effects template entries captures this transaction? Balance Sheet Income Statement Cash Assets + Noncash Assets=Liabilities +Contributed +Earned Revenues-Expenses=Net Income Capital Capital

		Balance Sheet Income Statement Cash Assets + Noncash Assets = Liabilities + Contributed + Earned Revenues - Expenses =Net Income Capital Capital +87,800 +87,800 +87,800 - = +87,800
		Balance Sheet Income Statement Cash Assets + Noncash Assets = Liabilities + Contributed + Earned Revenues - Expenses =Net Income Capital Capital +87,800 -87,800 (AR)
		Balance Sheet Income Statement Cash Assets + Noncash Assets = Liabilities + Contributed + Earned Revenues - Expenses =Net Income Capital Capital +87,800 (AR) +87,800 +87,800 - = +87,800
		Balance Sheet Income Statement Cash Assets + Noncash Assets = Liabilities + Contributed + Earned Revenues - Expenses =Net Income Capital Capital -87,800 +87,800 (AR)

Question 2

1n its December 31, 2016 financial statements, Harley-Davidson reported the following (in millions): Long-term Assets Current Liabilities Long-term Liabilities Total Liabilities Equity $6,036 $ 2,863 $ 5,107 $7,970 $1,920 At December 31, 2016, current assets amount to:

		$2,863 million
		$3,854 million
		$7,970million
		$5,519 million