Accounting

| December 8, 2017

Answer the following:1. How does the automated system improve the efficiency and timeliness of financialstatements?2. How does the automated system enhance the relevance of the information provided?3. How does the automated system enhance the decision making process?Select the correct answer and show your calculations for the following questions:4. At the beginning of the year, a company s balance sheet reported the following balances: TotalAssets = $125,000; Total Liabilities = $75,000; and Owner s Capital = $50,000. During the year,the company reported revenues of $46, 000 and expenses of $30, 000. In addition, owner swithdrawals for the year totaled $20,000. Assuming no other changes to owner s capital, thebalance in the owner s capital account at the end of the year would be:A. $66,000B. $86,000C. $(4,000)D. $46,000E. $54,0005. A company had average total assets of $982,450 and net income of $190,700 and reportsvarious segment information. Segment A had average total assets of $437,800 and segmentoperating income of $98,230. Segment B had average assets of $151,200 and segment operatingincome of $16,190. Calculate the segment return on assets for Segment A.A. 19.4%B. 22.4%C. 26.1%D. 10.7%E. 20.2%6. Use the information in the adjusted trial balance presented below to calculate current assets forJones Company:Account Title Dr. Cr.Cash 23,000Accounts receivable 16,000Prepaid insurance 6,600Equipment 100,000Accumulated Depreciation Equipment 50,000Land 95,000Accounts payable 17,000Interest payable 2,400Unearned revenue 5,000Long term notes payable 30,000J. Jones, Capital 136,200Totals 240,600 240,600A. $21,200B. $45,600C. $24,400D. $95,600E. $41,200

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