The updated syllabus shows assignment

For chapter 1 just do all exercises but only 01-2a and p1-4a

aeyrececived a bill foe $2.300 of advertising but sl t pa .M. Aberti 36 1 Accounting in Action wrew $3,600as fron the business for personal use. ed below is selected information related to Kirby J. The company Payable 5 ,000 Salarles and Wages Expense 6.500 Notes Payable repoets financial infoermation monthly Cash ising Expense 3.500 Accoants Receivable Owner's Drawings oweor December Equipment at December 31, 2017 1. Tisi orted for December 2017 la) Determine the total assets of Kirby Company (b) Detenmine the net income that Kirby Compaye Decem 2. Kin e) Determine the owner's equity of Kirby Company a E1.1 Genesis Commpany perforens the following accounting tasks during the year. ing information EXERCISES For e ident E1-5 Clessity the hew actihaties o Analyzing and i Explaining uses, meaning, and limitations of data. Keeping a systematic chronological diary of events Measuring events in dollars and cents Preparing accounting reports Reporting information in a standard format. Selecting economic activities relevant to the company Summarizing economic events TRSI Cla Accounting is an information system that identifies, records, and communicates d economic events of an organization to interested users. Instructions Categorize the accounting tasks performed by Genesis as relating to either the identife tion (D, recording (R), or communication (C) aspects of accounting dniy suers of accosuning E12 (a) The following are users of financial statements 5. 6. Customers Securities and Exchange Commissice LO 1) Internal Revenue Service Store manager 8. Labor unions Marketing manager Production supervisor Vice president of finance Iustractions Identify the users as being either external users or internal users. (b) The following questions could be asked by an internal user or an external user Can we afford to give our employees a pay raise? Did the company earn a satisfactory income? Do we need to borrow in the near future? How does the company's proitability compare to other companies? What does it cost us to manufacture each unit produced? Which product should we emphasize? Will the company be able to pay its short-term debts? Instructions Identify each of the questions as being more likely asked by an internal user or an ext user Discuss eshics and th istorical cost prnciple LO 2) E1-3 Angela Duffy, president of Duffy Company, has instructed Jana Barth, the head d the accounting department for Dulfy Company, to report the company's land in the cu accounting reports at its fair value of $170,000 instead of its cost of $100, pufis