* READ CHAPTER ONE OF Survey of Accounting, 9th Edition, by Carl S. Warren and Amanda G. Farmer *

Answer Exercises 1, 5, 10, 11 at the end of the chapter.

1.

Indicate whether each of the following companies is primarily a service, merchandise, or manufacturing business. If you are unfamiliar with the company, you may use the Internet to locate the companys home page or use the finance Web site of Yahoo.com.

1. AFLAC (AFL)

2. Best Buy (BBY)

3. Boeing (BA)

4. Caterpillar (CAT)

5. Citigroup (C)

6. CVS Health Corp. (CVS)

7. DowDuPont Inc. (DWDP)

8. Exxon Mobil (XOM)

9. Facebook (FB)

10. Ford Motor (F)

11. General Electric (GE)

12. Hilton Hotels

13. H&R Block Inc. (HRD)

14. Oracle (ORCL)

15. Target (TGT)

5.

9.

A. Determine the missing data indicated for (1) and (2).

B. Using the income statement data for Year 2, determine the amount of net income or loss.

10.

From the following list of selected items taken from the records of Mermaid Stories, Inc. as of a specific date, identify those that would appear on the balance sheet.

1. Accounts Receivable

2. Common Stock

3. Cash

4. Fees Earned

5. Rent Expense

6. Salaries Expense

7. Salaries Payable

8. Supplies

9. Supplies Expense

10. Utilities Expense