Gerald's had opening total stockholders' equity of $160,000. During the year, total assets increased by $240,000 and total liabilities increased by $120,000. Their net income was $180,000. No additional investments were made. However, some amount was paid as dividend during the year. What was the amount of the dividend paid?

Which of the following is a typical prepaid expense?

Which of the following is a personal account?

Trade accounts receivable:

Which of the following transactions would have no impact on the stockholders' equity?

When an asset is sold for cash, into which journal is the transaction recorded?

Working capital is calculated by the formula ...?

When applying the accrual basis of accounting, how would you report expenses that covered a future period?

In the double-entry bookkeeping system, financial transactions are first recorded in the:

Under the accrual basis of accounting, revenues are reported in the accounting period when the