41) The missing name (a.) of Lox Stock & Bagel Company's financial statement above is the ________.
A) Balance sheet
B) Income statement
C) Statement of changes in shareholders' equity
D) Statement of cash flows
42) The Cash balance (b.) in Lox Stock & Bagel Company's financial statement above is ________.
A) the same as the retained earnings
B) $39,910
C) $3,000
D) $10,910
43) The Retained earnings balance (c.) in Lox Stock & Bagel Company's is ________.
A) the same as the Cash balance
B) $21,910
C) $10,910
D) $11,910
44) Using Lox Stock & Bagel Company's financial statement above, determine the amount of the creditors' claims to the company's resources.
A) $10,910
B) $38,910
C) $18,000
D) $28,910
45) Using Lox Stock & Bagel Company's financial statement above, determine the amount
of the company's largest resource.
A) $11,910
B) $39,910
C) $18,000
D) $25,000
46) Using Lox Stock & Bagel Company's financial statement above, determine the amount of the owners' claims that have been contributed to the company.
A) $10,000
B) $39,910
C) $11,910
D) $21,910
47) Using Lox Stock & Bagel Company's financial statement above, determine the amount that represents the earnings kept in the company.
A) the Cash balance
B) $21,910
C) $10,910
D) $11,910
48) Use this financial statement to answer the following question;
Cash$ 3,000Liabilities$ 2,500
Accounts receivable2,000
InventoryACommon stockB
Supplies 1,000Retained earnings 500
Total$11,000TotalC
The Inventory balance (A above) equals ________.
A) $17,000
B) $13,000
C) $ 5,000
D) $ 6,000
Use this financial statement to answer the following question(s);
Cash$ 3,000Liabilities$ 2,500
Accounts receivable2,000
InventoryACommon stockB
Supplies 1,000Retained earnings 500
Total$10,000TotalC
49) Refer to the financial statement above. The Common stock balance (B above) equals ________.
A) $10,000
B) $ 7,000
C) $13,000
D) $ 3,000
50) Refer to the financial statement above. The total shareholders' equity equals ________.
A) $13,000
B) $10,000
C) $ 7,500
D) $ 9,000