161.

Marvin Services Corporation had the following accounts and balances:

Accounts payable $30,000 Equipment $35,000

Accounts receivable 5,000 Land 35,000
Buildings ? Unearned service revenue 10,000
Cash 15,000 Total stockholders' equity ?

If the balance of the Buildings account was $70,000 and $5,000 of Accounts Payable were paid in cash, what would be the
a.$135,000
b.$120,000
c.$170,000
d.$130,000
162.Marvin Services Corporation had the following accounts and balances:

Accounts payable $30,000 Equipment $35,000

Accounts receivable 5,000 Land 35,000
Buildings ? Unearned service revenue 10,000
Cash 15,000 Total stockholders' equity ?

If the balance of the Buildings account was $40,000 and $10,000 of Accounts Payable were paid in cash, what would be th
a.$90,000
b.$78,000
c.$80,000
d.$120,000
163.Marvin Services Corporation had the following accounts and balances:

Accounts payable $30,000 Equipment $35,000

Accounts receivable 5,000 Land 35,000
Buildings ? Unearned service revenue 10,000
Cash 15,000 Total stockholders' equity ?

If total stockholder's equity was $95,000, what would be the balance of the Buildings Account?
a.$35,000
b.$135,000
c.$145,000
d.$45,000
164.Marvin Services Corporation had the following accounts and balances:

Accounts payable $30,000 Equipment $35,000

Accounts receivable 5,000 Land 35,000
Buildings ? Unearned service revenue 10,000
Cash 15,000 Total stockholders' equity ?

If the balance of the Buildings account was $75,000 and the equipment was sold for $35,000, what would be the total of s
a.$65,000
b.$90,000
c.$115,000
d.$125,000
165.Marvin Services Corporation had the following accounts and balances:

Accounts payable $30,000 Equipment $35,000

Accounts receivable 5,000 Land 35,000
Buildings ? Unearned service revenue 10,000
Cash 15,000 Total stockholders' equity ?

If the balance of the Buildings account was $85,000, what would be the total of liabilities and stockholders' equity?
a.$170,000
b.$175,000
c.$135,000
d.$125,000
166.Notes to the financial statements include all of the following except
a.descriptions of significant accounting policies used.
b.explanations of uncertainties.
c.projected accounting information.
d.statistics needed to understand the statements.
167.The management discussion and analysis (MD&A) section of the annual report covers all of th
a.ability of the company to pay near-term obligations.
b.certification criteria of the company's auditors.
c.company's ability to fund operations and expansion.
d.results of the company operations.
168.An annual report includes all of the following except
a.management discussion and analysis section.
b.notes to the financial statements.
c.an auditor’s report.
d.salary information for all the executives.
169.Which of the following clarifies information presented in the financial statements, as well as expanding upon it where
a.Auditor’s report
b.Management discussion and analysis section
c.Notes to the financial statements
d.President’s state of the company report
170.The information needed to determine whether a company is using accounting methods similar to those of its compet
a.auditor’s report.
b.balance sheet.
c.management discussion and analysis section.
d.notes to the financial statements.
 Equipment 35000 Accounts payable
Land 35,000
Accounts receivable 5,000
Buildings 70000 Unearned service revenue
Cash 10,000 Total stockholders' equity
155000
ere paid in cash, what would be the balance of the total stockholders' equity?

Equipment 35000 Accounts payable

Land 35,000
Accounts receivable 5,000
Buildings 40000 Unearned service revenue
Cash 5,000 Total stockholders' equity
120000
were paid in cash, what would be the total liabilities and stockholders' equity?

Equipment 35000 Accounts payable

Land 35,000
Accounts receivable 5,000
Buildings ? Unearned service revenue
Cash 15,000 Total stockholders' equity
45,000

Equipment 0 Accounts payable

Land 35,000
Accounts receivable 5,000
Buildings 75000 Unearned service revenue
Cash 50,000 Total stockholders' equity
165000
35,000, what would be the total of stockholders' equity?
 Equipment 35000 Accounts payable
Land 35,000
Accounts receivable 5,000
Buildings 85000 Unearned service revenue
Cash 15,000 Total stockholders' equity
175000
es and stockholders' equity?

Answer 166
c.projected accounting information.
Notes to the financial statements donot includes the projected financial information as the financials statements includes the

Answer 167
b.certification criteria of the company's auditors.
The management discussion and analysis (MD & A) section of an annual report covers various financial aspects of a comp

as well as expanding upon it where additional detail is needed?

thods similar to those of its competitors would be found in the

 25000

Answer 161
10,000 b.$120,000
120000 Total stockholders' equity = Total Assets less Total Liabilities
155000 Total stockholders' equity = $ 155,000 less $ 35,000 = $ 120,000
Total Assets
Equipment $ 35,000
Land $ 35,000
Accounts receivable $ 5,000
Buildings $ 70,000
Cash $ 10,000
20000 ($ 15,000 less $ 5,000)
Total Assets $ 155,000

10,000 Total Liabilities

? Accounts payable $ 25,000
30000 ($ 30,000 less $ 5,000)
Unearned service revenue $ 10,000
Total Liabilities $ 35,000
Answer 162
d.$120,000
Total Assets = Total Liabilities & stockholders' equity
Equipment $ 35,000
30000 Land $ 35,000
Accounts receivable $ 5,000
Buildings $ 40,000
10,000 Cash $ 5,000
95000 ($ 15,000 less $ 10,000)
135000 Total Assets $ 120,000

Answer 163
d.$45,000
Buildings = Total Liabilites & Stockholders' equity less Total Assets(Except Buildings)
Buildings = $ 135,000 less Equipment $ 35,000 less Land $ 35,000 less Accounts Receivable $ 5,000

30000 Total Liabilities & stockholders' equity = Accounts Payable add Unearned Service Revenue add Stockho
Total Liabilities & stockholders' equity = $ 30,000 add $ 10,000 add $ 95,000 = $ 135,000

10,000 Answer 164

? d.$125,000
Total stockholders' equity = Total Assets less Total Liabilities
Total stockholders' equity = $ 165,000 less $ 40,000 = $ 125,000
Total Assets
 Equipment $ -
($ 35,000 less $ 35,000)
Land $ 35,000
Accounts receivable $ 5,000
$30,000 Buildings $ 75,000
Cash $ 50,000
($ 15,000 add $ 35,000)
10,000 Total Assets $ 165,000
?
Total Liabilities
Accounts payable $ 30,000
Unearned service revenue $ 10,000
Total Liabilities $ 40,000

Answer 165
b.$175,000
Total Assets = Total Liabilities & stockholders' equity
cials statements includes the financ Equipment $ 35,000
Land $ 35,000
Accounts receivable $ 5,000
Buildings $ 85,000
s financial aspects of a company and
Cash
th $ 15,000
Total Assets $ 175,000

Answer 168
d.salary information for all the executives.
An annual report contains the report on the financial statements, notes and the auditor's report. The s

Answer 169
c.Notes to the financial statements
Notes are annexed to the financial statements to explain the accounting principles, based upon which

Answer 170
d.notes to the financial statements.
Notes to the financial statements details about the accounting methods used by the company to prepa
unts Receivable $ 5,000 less Cash $ 15,000 = $ 45,000

ice Revenue add Stockholders' equity

he auditor's report. The salary information of all the executives is a part of the financial statement included in the salary expense of a com

iples, based upon which the financial statements have been prepared.

by the company to prepare the financial statements.

n the salary expense of a company but not part of the annual report.