Chapter 16: Financial Statements and Closing Entries

In May 31^st  the net sales value

• 161,500

• 155,000

• 86,300

• None of these

The amount of expenses in balance sheet is equal to:

• 125,000

• 178,000

• 53,000

• None of these

The supplies expense value recorded in the income statement

• 4,800

• 15,000

• 11,500

• 6,800

prepaid insurance listed in the balance sheet is equal to:

•  8,000

• 14,000

• 7,800

• 30,000

Company total expenses:

• 36,700

• 14,000

• 37,800

• 41,800

In May 31^st  the Company was able to achieve a:

• Net loss of 38,500

• Net income of 53,000

• Net loss of 1,500

• Net income of 16,000

EPS is equal to:

• 1.17

• 2.32

• 1.71

• 1.33

Total amount of revenue:

• 125,000

• 27,800

•  92,300

• 120,000

The sales (%) listed in the income statement:

• 50%

• 80%

• 90%

• 100%

The (%) of total operating expenses listed in income statement:

  

 

• 48.0%

•   73.62%

• 77.91%

•    59.53%