Homework Answers
Ans:
| Account | Amount |
| Cash | 3500 |
| Accounts Receivable | 13000 |
| Supplies | 1500 |
| Land | 47000 |
| Equipment | 23000 |
| Total Assets | 88000 |
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March 31, 2018 Balance Debit Credit 3,500 13,000 1,500 47,000 23,000 Account Title Cash Accounts receivable...
Trial Balance March 31, 2018 Balance Debit Credit Account Title Cash Accounts receivable Supplies 3,500 13,000...
Trial Balance March 31, 2018 Balance Debit Credit Account Title Cash Accounts receivable Supplies 3,500 13,000 1,500 47,000 23,000 Land Equipment Accounts payable Note payable Common stock Retained earnings Service revenue Salary expense Rent expense 16,000 20,000 13,000 14,000 62,500 28,000 8,500 1,000 Utilities expense Total 125,500 $ 125,500 Print Done 3. Select the labels and compute the net income or net loss during March. (Use parentheses or a minus sign when enterin Total revenues Total expenses Net income (net...
Credit Debit $ 6,000 10,500 6,050 158,000 $ 32,548 47,000 Account Title Cash Accounts receivable Office...
Credit Debit $ 6,000 10,500 6,050 158,000 $ 32,548 47,000 Account Title Cash Accounts receivable Office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable Interest payable Long-term notes payable K. Wilson, Capital K. Wilson, Withdrawals Trucking fees earned Depreciation expense-Trucks Salaries expense office supplies expense Repairs expense-Trucks Totals 10,000 17,000 61,000 99,045 18,000 126,000 20,993 51,590 18,000 19,460 $345,593 $345,593 Balance Shee December 31 Assets Liabilities Equity
Credit Debit $ 10,000 26,000 7,893 187,000 $ 38,522 40,000 Account Title Cash Accounts receivable Office...
Credit Debit $ 10,000 26,000 7,893 187,000 $ 38,522 40,000 Account Title Cash Accounts receivable Office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable Interest payable Long-term notes payable Common stock Retained earnings Dividends Trucking fees earned Depreciation expense-Trucks Salaries expense Office supplies expense Repairs expense-Trucks Totals 14,000 16,000 55,000 42,861 135,000 45,000 122,000 24,847 67,302 3,000 12,341 $ 423,383 $ 423,383 Use the above adjusted trial balance to prepare Wilson Trucking Company's classified balance sheet as of WILSON TRUCKING COMPANY...
Hilton Service Center Trial Balance March 31, 2018 Account Title Balance Debit Credit 22,700 4,700 $...
Hilton Service Center Trial Balance March 31, 2018 Account Title Balance Debit Credit 22,700 4,700 $ 2,600 Cash Accounts Receivable Office Supplies Land Accounts Payable Utilities Payable Unearned Revenue Notes Payable Common Stock Dividends Service Revenue Salaries Expense Rent Expense Interest Expense Utilities Expense 11,700 17,000 1,600 1,900 400 21 200 21200 Print Done AL in More Info 2 Borrowed $46,000 from the bank and signed a note payable in the name of the business. 4 Paid cash of $50,000...
cred Debit $ 9,600 13,000 6,683 165,000 $ 33,990 47,000 Cash Accounts receivable office supplies Trucks...
cred Debit $ 9,600 13,000 6,683 165,000 $ 33,990 47,000 Cash Accounts receivable office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable Interest payable Long-term notes payable Common stock Retained earnings Dividends Trucking fees earned Depreciation expense Trucks Salaries expense Office Supplies expense Repairs expense Trucks 13,600 3,000 49,000 -450 138,500 24,000 126,000 21,924 $6,984 9,000 10.449 $363,640 $363,640 Use the above adjusted trial balance to prepare Wilson Trucking Company's classified balance sheet as of December 31. SON TRICKING COMPANY WILSON...
Credit Debit $ 9,400 28,000 6,573 190,000 $ 39, 140 45,000 Account Title Cash Accounts receivable...
Credit Debit $ 9,400 28,000 6,573 190,000 $ 39, 140 45,000 Account Title Cash Accounts receivable Office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable Interest payable Long-term notes payable K. Wilson, Capital K. Wilson, Vithdrawals Trucking fees earned Depreciation expense-Trucks Salaries expense Office supplies expense Repairs expense-Trucks Totals 13, 400 16,000 49,000 181,001 29,000 120,000 25, 245 56,046 19,000 10, 277 $418,541 $418, 541 Use the above adjusted trial balance to prepare Wilson Trucking Company's classified balance sheet as of...
Calculator Credit Use the adjusted trial balance below. Adjusted Trial Balance Account Title Debit Cash 26,000...
Calculator Credit Use the adjusted trial balance below. Adjusted Trial Balance Account Title Debit Cash 26,000 Accounts Receivable 3,300 Prepaid Insurance 6,600 Supplies 1,200 Land 42,300 Equipment 5,700 Accumulated Depreciation Equipment Accounts Payable þwner, Capital pwner, Drawing 3,200 Service Fees Wages Expense 8,500 Supplies Expense 2,100 Utilities Expense 200 Insurance Expense 100 Depreciation Expense-Equipment 5,500 104,700 5,500 5,300 73,900 20,000 104,700 a. For each account, open a T account, title the account, and place its balance in it. Cash Accounts...
Data Table Sam Mildon, CPA Trial Balance March 31, 2018 Balance Account Title Cash Accounts Receivable...
Data Table Sam Mildon, CPA Trial Balance March 31, 2018 Balance Account Title Cash Accounts Receivable Office Supplies Land Furniture Automobile Accounts Payable Uneaned Revenue Common Stock Debit Credit S 12,000 9,500 1,500 22,000 0 $ 3,300 0 39,400 PrintDone 7800 Service Revenue Salaries Expense Rent Expense Total 4,500 1,000 $ 50,500 $ 50,500 PrintDone The trial balance of Sam Mildon, CHA Is aled Maier S1, 2018 EEB (Cick the icon to view the March 31 trial balance.) 1 (Click...
Prepare the classified balance sheet in account format on December 31, 2018. (if a box is...
Prepare the classified balance sheet in account format on December 31, 2018. (if a box is not used in the balance sheet, leave the box empty, do not select a label or enter a zero.) Review the Balance Sheet columns of the worksheet completed in Requirement 1. Review the Statement of Retained Earnings completed above Furry Investment Advisers Balance Sheet December 31, 2018 Assets Liabilities Stockholders' Equity Less Choose from any list or enter any number in the input fields...
Credit Debit $ 6,900 28,500 6,903 158,000 $ 32,548 44,000 Account Title Cash Accounts receivable Office...
Credit Debit $ 6,900 28,500 6,903 158,000 $ 32,548 44,000 Account Title Cash Accounts receivable Office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable Interest payable Long-term notes payable Common stock Retained earnings Dividends Trucking fees earned Depreciation expense–Trucks Salaries expense office supplies expense Repairs expense-Trucks Totals 10,900 20,000 39,000 -4,999 137,500 12,000 120,000 20,993 58,860 8,000 10,793 $354,949 $ 354,949 Use the above adjusted trial balance to prepare Wilson Trucking Company's classified balance sheet as of December 31. WILSON TRUCKING...
Trial Balance March 31, 2018 Balance Debit Credit Account Title Cash Accounts receivable Supplies 3,500 13,000 1,500 47,000 23,000 Land Equipment Accounts payable Note payable Common stock Retained earnings Service revenue Salary expense Rent expense 16,000 20,000 13,000 14,000 62,500 28,000 8,500 1,000 Utilities expense Total 125,500 $ 125,500 Print Done 3. Select the labels and compute the net income or net loss during March. (Use parentheses or a minus sign when enterin Total revenues Total expenses Net income (net...
Credit Debit $ 6,000 10,500 6,050 158,000 $ 32,548 47,000 Account Title Cash Accounts receivable Office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable Interest payable Long-term notes payable K. Wilson, Capital K. Wilson, Withdrawals Trucking fees earned Depreciation expense-Trucks Salaries expense office supplies expense Repairs expense-Trucks Totals 10,000 17,000 61,000 99,045 18,000 126,000 20,993 51,590 18,000 19,460 $345,593 $345,593 Balance Shee December 31 Assets Liabilities Equity
Credit Debit $ 10,000 26,000 7,893 187,000 $ 38,522 40,000 Account Title Cash Accounts receivable Office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable Interest payable Long-term notes payable Common stock Retained earnings Dividends Trucking fees earned Depreciation expense-Trucks Salaries expense Office supplies expense Repairs expense-Trucks Totals 14,000 16,000 55,000 42,861 135,000 45,000 122,000 24,847 67,302 3,000 12,341 $ 423,383 $ 423,383 Use the above adjusted trial balance to prepare Wilson Trucking Company's classified balance sheet as of WILSON TRUCKING COMPANY...
Hilton Service Center Trial Balance March 31, 2018 Account Title Balance Debit Credit 22,700 4,700 $ 2,600 Cash Accounts Receivable Office Supplies Land Accounts Payable Utilities Payable Unearned Revenue Notes Payable Common Stock Dividends Service Revenue Salaries Expense Rent Expense Interest Expense Utilities Expense 11,700 17,000 1,600 1,900 400 21 200 21200 Print Done AL in More Info 2 Borrowed $46,000 from the bank and signed a note payable in the name of the business. 4 Paid cash of $50,000...
cred Debit $ 9,600 13,000 6,683 165,000 $ 33,990 47,000 Cash Accounts receivable office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable Interest payable Long-term notes payable Common stock Retained earnings Dividends Trucking fees earned Depreciation expense Trucks Salaries expense Office Supplies expense Repairs expense Trucks 13,600 3,000 49,000 -450 138,500 24,000 126,000 21,924 $6,984 9,000 10.449 $363,640 $363,640 Use the above adjusted trial balance to prepare Wilson Trucking Company's classified balance sheet as of December 31. SON TRICKING COMPANY WILSON...
Credit Debit $ 9,400 28,000 6,573 190,000 $ 39, 140 45,000 Account Title Cash Accounts receivable Office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable Interest payable Long-term notes payable K. Wilson, Capital K. Wilson, Vithdrawals Trucking fees earned Depreciation expense-Trucks Salaries expense Office supplies expense Repairs expense-Trucks Totals 13, 400 16,000 49,000 181,001 29,000 120,000 25, 245 56,046 19,000 10, 277 $418,541 $418, 541 Use the above adjusted trial balance to prepare Wilson Trucking Company's classified balance sheet as of...
Calculator Credit Use the adjusted trial balance below. Adjusted Trial Balance Account Title Debit Cash 26,000 Accounts Receivable 3,300 Prepaid Insurance 6,600 Supplies 1,200 Land 42,300 Equipment 5,700 Accumulated Depreciation Equipment Accounts Payable þwner, Capital pwner, Drawing 3,200 Service Fees Wages Expense 8,500 Supplies Expense 2,100 Utilities Expense 200 Insurance Expense 100 Depreciation Expense-Equipment 5,500 104,700 5,500 5,300 73,900 20,000 104,700 a. For each account, open a T account, title the account, and place its balance in it. Cash Accounts...
Data Table Sam Mildon, CPA Trial Balance March 31, 2018 Balance Account Title Cash Accounts Receivable Office Supplies Land Furniture Automobile Accounts Payable Uneaned Revenue Common Stock Debit Credit S 12,000 9,500 1,500 22,000 0 $ 3,300 0 39,400 PrintDone 7800 Service Revenue Salaries Expense Rent Expense Total 4,500 1,000 $ 50,500 $ 50,500 PrintDone The trial balance of Sam Mildon, CHA Is aled Maier S1, 2018 EEB (Cick the icon to view the March 31 trial balance.) 1 (Click...
Prepare the classified balance sheet in account format on December 31, 2018. (if a box is not used in the balance sheet, leave the box empty, do not select a label or enter a zero.) Review the Balance Sheet columns of the worksheet completed in Requirement 1. Review the Statement of Retained Earnings completed above Furry Investment Advisers Balance Sheet December 31, 2018 Assets Liabilities Stockholders' Equity Less Choose from any list or enter any number in the input fields...
Credit Debit $ 6,900 28,500 6,903 158,000 $ 32,548 44,000 Account Title Cash Accounts receivable Office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable Interest payable Long-term notes payable Common stock Retained earnings Dividends Trucking fees earned Depreciation expense–Trucks Salaries expense office supplies expense Repairs expense-Trucks Totals 10,900 20,000 39,000 -4,999 137,500 12,000 120,000 20,993 58,860 8,000 10,793 $354,949 $ 354,949 Use the above adjusted trial balance to prepare Wilson Trucking Company's classified balance sheet as of December 31. WILSON TRUCKING...
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