Reference no: EM133007362
Problem 1: Filly Inc has $30,000 of assets and $20,000 of liabilities. What's the stockholder's equity?
A. 10,000
B. 1000
C. 50,000
D. 30,000
Problem 2: Which of the following accounts should be closed to the capital account at the end of the year?
A. Prepaid Insurance
B. Unearned Rent
C. Equipment
D. Supply Expense
Problem 3: Filly Inc has $30,000 of assets and $20,000 of stockholder's equity. What's the liability?
A. 1000
B. 10,000
C. 30,000
D. 50,000
Problem 4: Accumulated Depreciation are shown in
A. Balance Sheet
B. Income Statement
C. Statement of Cash Flow
D. Statement of Stockholder's Equity