1.The realization principle indicates that revenue usually should be recorded in the accounting records:

2.Which of the following account(s) would be part of working capital?

3.On May 17, Buckeye Corporation performed $800 of services for ABC Company, a customer. ABC paid for one-half of the
bill on May 17 and agreed to pay the remainder within 30 days. On June 9, ABC paid the remaining amount owed. Which
of the following journal entries would ABC Company make on June 9?

4.The following information is available for XYZ Company:

January 1, 2003 December 31, 2003

Assets $500,000 $700,000 Liabilities $300,000 $400,000 Equity $200,000 $300,000

XYZ Company reported a net income of $50,000 during 2003.
XYZ Company's return on equity (ROE) for 2003 was equal to:

5.Fletcher, Inc. reported an ending notes payable balance of $57,000. An examination of the notes payable t-account revealed debits of $25,000 and credits of $39,000 during the year. The beginning notes payable balance for Fletcher,
Inc. was equal to:

6.Indicate the effect each of the following transactions has on the accounting equation (i.e., assets, liabilities, and equity). Enter the number corresponding to your answer in the box provided. Answer choices may be used once, more than once, or not at all.