ACCT 212 Week 1 Homework

Institution	ACCT 212 Financial Accounting
Contributor	Jessica Brown

Question: Eagle Corp. operates Magnetic Resonance Imaging (MRI) clinics throughout the Northeast. At the end of the current period, the company reports the following amounts: Assets = $50,000; Liabilities = $27,000; Dividends = $3,000; Revenues = $14,000; Expenses = $9,000.
Question: Below are the account balances for a company at the end of December.
Question: At the beginning of the year (January 1), a company has $11,000 of common stock outstanding and retained earnings of $6,300. During the year, the company reports net income of $6,600 and pays dividends of

$1,300. In addition, the company issues additional common stock for

$6,100. - Statement of Stockholders’ Equity

Question: A company has the following account balances at the end of the year.
Question: Longhorn Corporation provides low-cost food delivery services to senior citizens. At the end of the year on December 31, 2021, the company reports the following amounts:

ACCT 212 Homework Week One: PRACTICE

Question: Cougar’s Accounting Services provides low-cost tax advice and preparation to those with financial need. At the end of the current period, the company reports the following amounts: Assets = $19,000; Liabilities

= $15,000; Revenues = $28,000; Expenses = $33,000.

Question: Below are the account balances for Cowboy Law Firm at the end of December.

Question: At the beginning of the year (January 1), Buffalo Drilling has $11,000 of common stock outstanding and retained earnings of $8,200. During the year, Buffalo reports net income of $8,500 and pays dividends of

$3,200. In addition, Buffalo issues additional common stock for $8,000.

Question: Wolfpack Construction has the following account balances at the end of the year.
Question: Tiger Trade has the following cash transactions for the period.
Question: Longhorn Corporation provides low-cost food delivery services to senior citizens. At the end of the year on December 31, 2021, the company reports the following amounts: …….. In addition, the company had common stock of $40,000 at the beginning of the year and issued an additional $4,000 during the year. The company also had retained earnings of $18,200 at the beginning of the year.