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ACCT-2100-A1&A2-Introductory Accounting-Fall 2025
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An owner transfers the following to a business: a building, valued at $100,000, and the associated mortgage with an $80,000 balance. Transferring these into the business would (use the accounting equation to help you think this through):
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A credit decreases the balance of which types of accounts?
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A credit increases the balance of which types of accounts?
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June Corporation had net income of $120,000, 1,000,000 common shares outstanding, and no preferred shares. Neptune Corporation had net income of $460,000, 2,500,000 common shares outstanding, and preferred shares entitled to a $10,000 dividend when declared. Which of the following statements is true:
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Trent Corporation has total current assets equal to $50,000 and working capital of $20,000. Fleming Company has the same amount of working capital, but it has total current assets of $300,000. The company with the better liquidity is:
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If all else is held equal, an increase in the current ratio of a company is generally considered to be:
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Which of the following ratios is a measure of profitability?
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Assume a company has a current ratio of 1.5 and working capital equal to $25,000. If the company's current liabilities are equal to $50,000, its total current assets are:
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Equipment would appear on the:
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Which of the following best describes a liability?
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