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Good Boy

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Submitted By davidsbaba
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Pages 5
Accounting 350, Fall 2009, Day
Quiz #2, Chpts. 5 & 6

|1. |Houghton Company has the following items: common stock, $720,000; treasury stock, $85,000; deferred taxes, $100,000 and retained|
| |earnings, $313,000. What total amount should Houghton Company report as stockholders' equity? |
|A) |$848,000. |
|B) |$948,000. (720-85+313) |
|C) |$1,048,000. |
|D) |$1,118,000. |
|2. |Presented below are data for Antwerp Corp. |
| | |
| |2010 |
| |2011 |
| |2012 |
| | |
| |Assets, January 1 |
| |$2,800

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