Use the information below to answer the following questions: common stock: $17,000 service revenue: $20,000 notes payable: $5,000 salaries expense: $10,000 accounts receivable: $7,000 ending retained earnings: $26,000 supplies: $2,000 insurance expense: $1,500 prepaid insurance: $3,000 utilities expense: $4,000 office equipment: $16,000 accounts payable: $4,000 cash: $24,000.
an income statement prepared for the year ended december 31 2013 would reflect net income of how much?
a balance sheet prepared as of december 31, 2013 would reflect total assets of how much?
a balance sheet prepared as of december 31, 2013 would reflect total liabilities of how much?
a balance sheet prepared as of december 31, 2013 would reflect total stockholders' equity of how much?

Salvador county issued $25 million of 5% demand bonds for construction of a county maintenance building. the county has no take-out agreement related to the bonds. it estimates that 20% of the bonds would be demanded (called) by the buyers if interest rates increased at least 1%. at year-end rates on comparable debt were 7%. how should these demand bonds be reported in the government-wide financial statements at year-end? a) $25 million in the long-term liability section of the governmental activities column. b) $5 million in the current liability section of the governmental activities column and $20 million in the long-term liabilities section of the governmental activities column. c) $5 million in the governmental activities column and $20 million would be reported in the schedule of changes in long-term debt obligations. d) $25 million in the current liability section of the governmental activities column

Emily bought 200 shares of abc co. stock for $29.00 per share on 60% margin. assume she holds the stock for one year and that her interest costs will be $80 over the holding period. ignoring commissions, what is her percentage return (loss) on invested capital if the stock price went down 10%?

In 2015, lori assigned a paid-up whole life insurance policy to an irrevocable life insurance trust (ilit) for the benefit of her three children. the ilit contained a crummey provision for the benefit of each child. at the time of the transfer, the whole life insurance policy was valued at $200,000, and since lori had not made any other taxable gifts during her lifetime, she did not owe any gift tax. lori died in 2016, and the face value of the whole life insurance policy of $2,000,000 was paid to the ilit. regarding this transfer, how much is included in lori’s gross estate at her death?