Please explanation for each questions and it supposed to calculated.

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Which of the following questions is most likely to be asked by a creditor?

A: Will the company be able to repay its debt when it is due?

. Which of the following is a feature of the corporate form of business ownership?

A: Ease of transferring ownership.

A Corporation began the year with retained earnings of $155,000. During the year, the company issued $210,000 of common stock, recorded expenses of $600,000, and paid dividends of $40,000. If the company's ending retained earnings was $165,000, what was the company's revenue for the year?

A: $650,000.

Which type of business activity involves acquiring property, plant and equipment assets to run the business operations?

A: Investing.

External journal entries would include all the following except:

A: Using up pre-paid insurance

A corporation purchases land for $200,000 by paying a down payment of $20,000 and by signing a note payable for the remainder of the purchase price. Which of the following statements correctly shows the effect of this transaction on the accounting equation?

A: Assets will increase by $180,000; liabilities will increase by $180,000 and stockholders' equity remains unchanged.

The Income Statement:

A: The Income Statement must be prepared first in order to include the net income for the period when updating the retained earnings account at the end of the period.

When the company pays stockholders a dividend, what is the effect on the accounting equation for that company?

A: Decreases assets and decreases stockholders' equity

A company received $600,000 cash in advance from customers. Which of the following statements correctly shows the effect of this transaction on the accounting equation?

A: Assets will increase by $600,000; liabilities will increase by $600,000 and stockholders' equity will remain unchanged

A corporation received $2,000 for interest earned on a note for a loan made to an employee in the current year. How would this transaction be recorded and what type of activity would this be classified under?

A: Debit Cash $2,000, credit Interest Revenue $2,000; Operating

The balance sheet provides information that is helpful in determining a company's profitability for the period.

A: False

Adjusting Entries are not required when

A: When expenses are recorded and paid in the same period they contribute to earnings

Which of the following would not typically be used as an adjusting entry?

A: B. Supplies Accounts

Payable