Question: it says the answer is C but shouldnt it be A 34. Consider the following account balances of the SOUR CREAM LAW FIRM at the

it says the answer is C but shouldnt it be A

34. Consider the following account balances of the SOUR CREAM LAW FIRM at the end of the year $4,400 Accounts Payable Salaries Expense 12,800 Cash 1,700 2,400 8,300 Common Stock Service Revenue Supplies Retained Earnings Utilities Expense 4,300 1,100 5,000 How many of these accounts would appear in SOUR CREAM's year-end income statement? A. Five B. Four. C. Three. D. Two

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

James and Esther Johnson live at 45678 S.W. 112th Street, Homestead, FL 33033. James, who is 67 years old (date of birth 12/14/1949), is retired receiving social security benefits, and Esther, who is...

please answer a b c or d ..some questions have more than one answer 246) Which of the following are made AETER the financial statements are prepared? A) Transaction Entries B) losing Entries C)...

please answer a,b,c,d some of them have more than 1 answer right...please help ..I'm really lost with these questions 1 89) For a journal entry with only two lines, the following entry is valid:...

this is a final exam pleaselook over it and help me out 1.Inventory for a merchandising business is classified as a(n): A. part of Stockholders' Equity. B. liability. C. asset. D. revenue. 2.If there...

Score: 0 of 1 pt 6 of 9 (1 complete) HW Score: 2.02%, 0.18 of 9 pts P2-35 (similar to) Question Help The following data are for Michelle Retail Outlet Stores. The account balances (in thousands) are...

I need help. B C 124,000 73,000 1 An Introduction to Cost Terms and Purposes Free work cells 2 Cost of goods manufactured, income statement, manufacturing company Answer cells 3 4 Consider the...

I need help answering two essay questions which are due 10/18 Weds. You must choose 2 out of 4 essay topics to write on and have a 2 hr time limit once we start. I will provide slides and supporting...

Please help me with those cost accounting questions too as last time. I got 93 out of 100 last time. 1. A company is building a widget. During the current year, a widget requires direct materials...

1 Big Picture Project Sample - ACCT2003 2021 21. Issue Stock for 3,000 3 2. Sien Note to borrow 4,000 6 4 3. Purchale Equipment for 1.800 Gyr. We, no salvage 5 4. Operating Expenses paid in cash 400...

I have included all of the instruction in the attached document. (1) Transactions made by Huddleston Co. for the month of March are shown below. 1. The company performed $23,920 of services for...

please help- I am on chapter 6 but I know all of the prior information is needed. Processing Accounting Information SERIAL PROBLEM: KATE'S CARDS Vote: This is a continuation of the Serial Problem:...

The production function for a product is given by q = 100KL. If the price of capital is $120 per day and the price of labor $30 per day, what is the minimum cost of producing 1000 units of output?

What consequences are likely to result from the problems at the Northern Sigma plant? Explain your answer.

Check My Work ( a medoed ) REI has a 1 0 0 % satisfaction guarantee on its items. It allows customers to return products up to coe year after purchase. This is an affempt by REI so reloce what type...

Please provide a mechanism for the following OH COH HPO SbFs SO CIF (solvent) -78 C

Errant Inc. purchased 100% of the outstanding voting shares of Grub Inc. for $200,000 on January 1, 2019. On that date, Grub Inc. had common shares and retained earnings worth $100,000 and $60,000,...

At the time of her death on June 6, 2017, Mary owned the following assets Taupe Corporation stock(cost $400,000, FMV $800,000). On May 4, Taupe declared acash dividend, payable on June 15, to...

To build your own tree house you use: $10,000 of direct material. 400 hours of direct labor ($10/hour) Manufacturing overhead, applied on the basis of direct labor hours at a rate of $15/direct labor...

3. Which of the following measurements has the lowest temperature? A) T = 36C B) T = 54F C) T=310 K D) All of these temperatures are equal 4. Which of the following statements is not true about table...

You have been recently promoted as junior vice president of human resources at your organization. You need to prepare your first presentation on appropriate communication to a group of twenty newly -...

5.27 A contractor has concluded from his experience that the cost of building a luxury home is a normally distributed random variable with a mean of $500,000 and a standard deviation of $50,000. a....

5.24 The tread life of Road Stone tires has a normal distribution with a mean of 35,000 miles and a standard deviation of 4,000 miles. a. What proportion of these tires has a tread life of more than...

5.28 Scores on an economics test follow a normal distribution. What is the probability that a randomly selected student will achieve a score that exceeds the mean score by more than 1.5 standard...