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PA 1. LO 3.1 For each of the following situations write the principle, assumption, or concept that justifies or explains what occurred. A. A landscaper received a customer's order and cash prepayment to install sod at a house that would not be ready for installation until March of next year. The owner should record the revenue from the customer order in March of next year, not in December of this year. B. A company divides its income statements into four quarters for the year. C. Land is purchased for $205,000 cash; the land is reported on the balance sheet of the purchaser at $205,000. D. Brandy's Flower Shop is forecasting its balance sheet for the next five years. E. When preparing financials for a company, the owner makes sure that the expense transactions are kept separate from expenses of the other company that he owns. F. A company records the expenses incurred to generate the revenues reported. PA 4. LO 3.2 LO 3.4 Assuming the following account balance changes for the period, what is the missing value? Assets Liabilities Common stock $450,600 250,000 120,000 Dividends Revenue 433,600 Expenses 323,000 C. purchased merchandise inventory for cash, $10,500 PA 20. LO 3.6 Prepare an unadjusted trial balance, in correct format, from the following alphabetized account information. Assume accounts have normal balances. Accounts payable Accounts receivable $ 9,500 14,260 Cash 22,222 Common stock 30,000 Dividends 5,000 Equipment 12,000 Investments (short term) 25,444 Land 20,000 Notes payable 26,000 Retained earnings 12,815 53,500 89,550 Salaries expense Service revenue Supplies 2,750 12,689 Utility expense

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