12 Jul WHAT ARE THE LIABILITIES OF SHANNON REALTY
Please review power point slides in order to answer the questions in the word document. Document Preview: Name Managerial accounting Concept review Week 1 The answers to the following questions can be found in the PowerPoint presentations Accounting Review for Managerial Accounting Students and Concept Review. 1. Define assets. What characterizes an asset as current or long-term? 2. What are the total assets of Shannon Realty on December 31, 20xx as listed in the Balance Sheet? 3. List the current assets of Shannon Realty. 4. List the long-term assets of Shannon Realty. 5. Define liabilities. Concept Review cont. 6. What are the liabilities of Shannon Realty as of December 31, 20xx as listed in the Balance Sheet? 7. What is the rule for classifying a liability as current? 8. Is accounts payable a current or non-current liability? 9. Why are unearned revenues classified as liabilities? 10. What is the net income of Shannon Realty for the month ended December 31, 20xx on the Income Statement? 11. Define depreciation. Give an example of two assets that would be subject to depreciation. 12. List and define the components of Stockholders Equity in a corporation. Concept Review cont. 13. Define dividends. 14. Define stock dividends. How do stock dividends and cash dividends differ? 15. Define treasury stock and explain why a corporation would purchase its own stock. be subject to depreciation. 12. List and define the components of Stockholders Equity in a corporation. Concept Review cont. 13. Define dividends. 14. Define stock dividends. How do stock dividends and cash dividends differ? 15. Define treasury stock and explain why a corporation would purchase its own stock. ed in the Balance Sheet? 3. List the current assets of Shannon Realty. 4. List the long-term assets of Shannon… Attachments: Accounting-Re….pptAccounting-Re….pptMgr-Acc-Week-….doc
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