Chapter 2 Acct. 2010

Front

Name two things that

1. increase The Walt Disney​ Company's stockholders'​ equity, and

2. decrease The Walt Disney​ Company's stockholders' equity.

Back

Two things that would increase The Walt Disney Company's stockholders' equity

Sale of stock

Net income

Two things that would decrease The Walt Disney Company's stockholders' equity

Dividends

Net loss

Front

Not a Transaction

Back

A representative from a regional restaurant chain contacts the store manager to get a list of wholesale prices.

Front

Ivy Company purchases a new delivery truck and signs a note payable at the truck dealership for the total cost. The impact of this transaction on Ivy Company would be to

Back

increase assets and increase liabilities

Front

Angeville Company issues stock to Hayley Walker in exchange for​ $50,000 cash. The impact on Angeville​ Company's assets from this transaction

Back

increases assets

Front

Fletcher Corporation completed a consulting job and billed the customer​ $10,000. The impact on Fletcher Corporation from this transaction would be to

Back

increase assets and increase​ stockholders' equity

Front

If a corporation purchases a delivery van for​ $35,000 cash, the net impact of this transaction will be

Back

no impact on total assets

Front

Martex​,a new​ company, completed these transactions. Stockholders invested $52,000

1. cash and inventory with a fair value of $28,000. Sales on​ account, $25,000.

What will Gentex​'s total assets​ equal?

Back

105,000

Front

An investment of cash by stockholders into the business will

Back

increase​ stockholders' equity

Front

Purchasing a laptop computer on account will

Back

increase total assets.

have no effect on​ stockholders' equity.

increase total liabilities.

Front

Performing a service on account will

Back

increase​ stockholders' equity.

increase total assets.