Unlock document.
This document is partially blurred.
Unlock all pages and 1 million more documents.
Get Access
1) ______________________________________ is the stockholders' equity applicable
to common shares divided by the number of common shares outstanding.
2) A company purchased a machine for $75,000 that was expected to last 6 years and to
have a salvage value of $6,000. At the beginning of the machine's fourth year the
company decided that the estimated useful life should be revised to a total of 10 years
instead of 6 years. Also, the salvage value was re-estimated to be $5,500. Straight-line
depreciation was used throughout the machine's life. Calculate the depreciation expense
for the fourth year of the machine's useful life.
3) The _________________ account is used to record the effects of cash overages and
shortages from errors in making change.
4) The Woodview Company uses a sales journal, purchases journal, cash receipts
journal, cash disbursements journal, and general journal. They use the periodic
inventory method. The following transactions occurred during the month of December:
Record these transactions using the journals below.
5) Accrued revenues at the end of one accounting period often result in cash
_______________________ in the next period.
