Use the Following Information for Questions 64 Through 69

question 14

Multiple Choice

Use the following information for questions 64 through 69.
The following data are provided: Additional information:
Depreciation included in cost of goods sold and operating expenses is $610,000. On May 1, 2015, 30,000 shares of common stock were issued. The preferred stock is cumulative. The preferred dividends were not declared during 2015.
-The return on common stock equity for 2015 is

• A) 750 ÷ 3,600.
• B) 750 ÷ 4,000.
• C) 650 ÷ 3,600.
• D) 650 ÷ 4,000.

Identify and classify transactions in the correct journals.

Recognize the purpose and maintenance of subsidiary ledgers.

Determine the appropriate recording of purchases and sales transactions.

Comprehend the procedure for posting journal entries to ledger accounts.

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