Chicago acct 504 Study guides, Class notes & Summaries
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ACCT 504 MIDTERM exam answers(VERIFIED)
- Study guide • 7 pages • 2020
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Question 1.1. (TCO A) Which of the following accounts is recorded as part of stockholders’ equity on the Balance Sheet? (Points : 3)
 Long-term debt
 Retained earnings
 Revenue
 Expenses


Question 2.2. (TCO B) For 2014, EAB Corporation reported net income of $78,750; net sales of $1,378,125; and weighted average shares outstanding of 10,500. There were no preferred dividends. What was the 2014 earnings per share? (Points : 3)
 $17.50
 $7.50
 $7...
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