uop acc 290 week 1 assignment preparing an income statement retained earnings statement and balance sheet new,acc 290 week 1,uop acc 290 week 1 tutorial,uop acc 290 week 1 assignment,uop acc 290 week 1 help

1. UOP ACC 290 Week 1
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Question 1
Marsh Corporation began operations on January 1,
2014. The following information is available for
Marsh Corporation on December 31, 2014.
Accounts
payable
$ 7,580 Notes
payabl
e
$ 12,160

2. Accounts
receivable 4,580
Rent
expense
12,580
Advertising
expense
4,320
Retained
earnings
?■
Cash 5,680
Service
revenue
30,160
Common
stock 17,580 Supplies 4,480
Dividends 5,080
Supplies
expense
1,380
1
Equipment 29,380
1com
Prepare an income statement for Marsh
Corporation.
Prepare a retained earnings statement for Marsh
Corporation. (List items that increase retained
earnings first.)
Prepare a balance sheet for Marsh Corporation.
(List assets in order of liquidity.)

3. Question 2
The Clear View Golf & Country Club details the
following accounts in its financial statements.
(a) Classify each of the following accounts as an
asset, liability, stockholders' equity, revenue, or
expense item.
(b) Classify each of the following accounts as a
financing activity, investing activity, or operating
activity.
I Q I II I I V I I V VI V VI VI ■
Question 3
This information relates to Molina Co. for the year
Retained earnings,
January 1, 2014
Advertising expense
Dividends
Rent expense
2014.
$75,703
2,034
6,779
11,751

4. Service revenue
Utilities expense
Salaries and
wages expense
65,534
2,712
33,897
After analyzing the data, prepare an income
statement for the year ending December 31, 2014.
After analyzing the data, prepare a retained
earnings statement for the year ending December
31, 2014. (List items that increase retained
earnings first.)
Question 4
For each of the following events affecting the
stockholders' equity of Noland, indicate whether
the event would: increase retained earnings,
decrease retained earnings, increase common
stock, or decrease common stock.
Question 5
The statement of financial position for Ruiz

5. Company includes the following accounts (in British
pounds): Accounts Receivable £12,500; Prepaid
Insurance £3,600; Cash £15,400; Supplies £5,200;
and Debt Investments (short-term) £6,700.
Prepare the current assets section of the statement of
financial position, listing the accounts in proper
sequence. (List current assets in reverse order of
liquidity. Do not enter currency symbols
in your answer.)
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6. Company includes the following accounts (in British
pounds): Accounts Receivable £12,500; Prepaid
Insurance £3,600; Cash £15,400; Supplies £5,200;
and Debt Investments (short-term) £6,700.
Prepare the current assets section of the statement of
financial position, listing the accounts in proper
sequence. (List current assets in reverse order of
liquidity. Do not enter currency symbols
in your answer.)
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