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Determine which ending retained earnings balance is found

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Reference no: EM132476994

Problem 1: Which of the following accounts is recorded as part of stockholders' equity on theBalance Sheet?

  1. Long-term debt
  2. Retained earnings
  3. RevenueExpenses

Problem 2: For 2014, LBJ Corporation reported net income of $37,500; net sales$562,500; and weighted average shares outstanding of 7,500. There were no preferred dividends.What was the 2014 earnings per share?

  1. $75.00
  2. $50.00
  3. $15.00
  4. $5.00

Problem 3: Selling a long-term asset is an example of a(n)

  1. operating activity.investing
  2. activity.financing activity.noncash
  3. investing and financing activity.

Problem 4: The ending Retained Earnings balance is found on which of thefollowing statements?

  1. Income Statement
  2. Balance Sheet
  3. Statement of Retained Earnings

Reference no: EM132476994

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