VERSION 1

QUIZ 1

FROM THE LIST OF ACCOUNTS BELOW, PREPARE:

1. Comparative Income Statement
2. Statement of Retained Earnings for 2016
3. Comparative Balance Sheet for 2016 and 2015

Accounts payable
Accounts receivable
Accruals
Accumulated amortization
Amortization expense
Administrative expense
Buildings
Cash
Common shares
Cost of goods sold
Dividends
Equipment
Furniture
Interest expense
Inventory
Land
Long term debt
Machinery
Term deposits
Line of credit
Preferred shares
Selling expense
Retained earnings
Sales
Vehicles
Tax rate

2016
250
450
40
280
80
350
450
110
400
3700
250
200
150
80
550
200
500
500
0
250
0
240
?
5000
125
20%

2015
200
400
50
200
70
400
400
50
300
3300
200
100
100
50
500
200
500
400
50
200
0
230
825
4500
75