A A94 M N 3 H G C D 13 10 Question 1: Identify each term defined below. 35 16 1. Statement that reports the revenues and expenses for a period of time. 2. The three activities in the accounting process are: 17 18 19 20 21 22 3. The right side of an account 4. The rules" of accounting 5. Chronological record of an entity's transactions, 6. Process of transferring the entries from the book of original entry to the T-accounts/ledger. 7. Statement that shows assets. lybilities, and stockholder's equity at a specific date. 8. The assumption that requires that the activities of the entity be kept separate and distinct from the owner's activities. 94 26 27 Question 2: Determine the missing amount in the basic accounting equation for each of the following: 10.1.X - $126.500 + $31.750 31 2. $17.500 - X + $13,400 X X 32 3.5185,000 - $21,300 + X 13 34 35 Question 3: Determine the missing amount in the expanded accounting equation for each of the following: 36 37 Assets Liabilities + Com.Stk + Beg. R/E+Revenues - Expenses - Dividends 38 39 1. X 40 2 $95.000 = $44.000 + $11,000 + $20.000 + $58,000 - $35.000 -X $135.000 = X + $75.000 + $18,000 + $56,000 - $47.000 - $16.000 $250,000 $182,000 + $25,000 + $11,000+ $44.000 - $10,000 413 X= 43 4 Question 4: Identify the normal balance for each of the following accounts: 45 40 47 Cash 40 49 Uneamed Revenue Building Salaries Expense Accounts Payable Rent Revenue Service Revenue Supplies Accounts Receivable Common Stock 50 31 52 53 4. Question 5: The following account balances were taken from the financial statements of Jump House Inc. as of December 31, 2020. 56 Accounts Payable 7 Accounts Receivable Accumulated Depreciation - Equipment 90 Advertising Expense isol Cast 6 Common Stock 62 Dividends Equipment Isolland $ 34,000 39,000 8,000 10.100 68,200 69,000 8.900 134,000 163.650 Notes Payable due in 2025 Prepaid Insurance Rent Revenue Retained Emines, 1/1/20 Salaries & Wages Expense Service Revente Supplies Uneaed Revenge Utilities Expense $62.000 3.500 5,000 180.000 23.900 115,400 30,250 19.900 11,800 >> Calculate the below total amounts based on the above account balances 61 Reventes Expenses Net Income Retained Exing, 12/31/20 Current Assets Property, Plant & Equipment Current Liabilities Long Tan Libilities 70