Homework Answers
Net Income = Service Revenue - Utilities Expense - Salaries Expense
Net Income = $8,000 - $1,200 - $600
Net Income = $6,200
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Centurion Co. had the following accounts and balances at December 31: Account Cash Accounts Receivable Prepaid...
View previous at 14 01:25:42 Account Cash Accounts Receivable Prepaid Insurance Supplies Accounts Payable Common Stock...
View previous at 14 01:25:42 Account Cash Accounts Receivable Prepaid Insurance Supplies Accounts Payable Common Stock Retained Earnings Service Revenue Salaries Expense Utilities Expense Debit Credit $11,000 2,200 2,800 1,200 $ 5,500 4,500 1,000 8,000 600 1,200 $19,000 $19,000 Totals Using the information in the table, calculate the company's reported net income for the period.
Bologna Lodging had the following accounts and balances as of December 31: Account Debit Credit Cash...
Bologna Lodging had the following accounts and balances as of December 31: Account Debit Credit Cash $ 20,000 Accounts Receivable 2,000 Salaries Expense 500 Accounts Payable $ 4,000 Lodging Revenue 7,000 Utilities Expense 500 Prepaid Insurance 1,400 Supplies 1,500 Common Stock 10,000 Retained Earnings 4,900 Totals $ 25,900 $ 25,900 Using the information in the table, calculate the total assets reported on Bologna's balance sheet for the period.
woud Solutions had the following accounts and balances as of December 31 Account Debit Cre Cash...
woud Solutions had the following accounts and balances as of December 31 Account Debit Cre Cash $20,000 Accounts Receivable 2,000 Salaries Expense 500 Accounts Payable $ 4,000 Lodging Revenue 7,000 Utilities Expense See Prepaid Insurance 1,400 Supplies 1,500 Common Stock 14,980 Totals $25,900 $25,900 PERLE Using the information in the table, calculate the total assets reported on the balance sheet for the period 0 SOO 0 0 0 0
1. Jackson Services had the following accounts and balances at December 31: Cash Account Debit Credit...
1. Jackson Services had the following accounts and balances at December 31: Cash Account Debit Credit $ 20,000 Accounts Receivable 6,000 Prepaid Insurance 1,500 Supplies 5,000 Accounts Payable $ 500 R. Jackson, Capital 16,200 R. Jackson, Withdrawals 1,000 Service Revenue 20,000 Utilities Expense 2,000 Salaries Expense 1,200 Totals $ 36,700 $ 36,700 1. Determine the amount of Net Income and be sure to show all of your work.
Smiles Entertainment had the following accounts and balances at December 31: Account Debit Credit Cash $...
Smiles Entertainment had the following accounts and balances at December 31: Account Debit Credit Cash $ 10,400 Accounts Receivable 2,080 Prepaid Insurance 2,560 Supplies 1,080 Accounts Payable $ 5,200 Common Stock 4,200 Retained Earnings 940 Service Revenue 7,400 Salaries Expense 540 Utilities Expense 1,080 Totals $ 17,740 $ 17,740 Using the information in the table, calculate the company's reported net income for the period. Multiple Choice $1,180. $10,880. $5,780. $4,120. $4,660.
Smiles Entertainment had the following accounts and balances at December 31: Credit Debit Account $12,100 2,420...
Smiles Entertainment had the following accounts and balances at December 31: Credit Debit Account $12,100 2,420 3,240 1,420 Cash Accounts Receivable Prepaid Insurance Supplies Accounts Payable $ 6,050 5,050 Common Stock Retained Earnings 1,110 9,100 Service Revenue Salaries Expense 710 Utilities Expense 1,420 $21,310 $21,310 Totals Using the information in the table, calculate the company's reported net income for the period. Multiple Cholce O $1520. O $4,630. O $5.340.
Sparrow Company Adjusted Trial Balance December 31, 2019 Debit Credit Cash $3,150 Accounts Receivable 5,650 Prepaid...
Sparrow Company Adjusted Trial Balance December 31, 2019 Debit Credit Cash $3,150 Accounts Receivable 5,650 Prepaid Insurance 4,480 Equipment 42,000 Accumulated Depreciation, Equipment $24,000 2,800 Accounts Payable Salaries Payable 4,450 Unearned Service Revenue 3,875 8,000 Common Stock Retained Earnings 2,255 Dividends 10,500 Service Revenue 100,000 Salaries Expense 49,400 Rent Expense 17,250 Insurance Expense 2,200 Depreciation Expense 4,950 Income Taxes Expense 5,800 Totals $145,380 $145,380 Salaries Expense 49,400 Rent Expense 17,250 2,200 Insurance Expense Depreciation Expense Income Taxes Expense 4,950 5,800...
The adjusted account balances of the Fitness Center at July 31 are as follows: Accounts Cash...
The adjusted account balances of the Fitness Center at July 31 are as follows: Accounts Cash Accounts Receivable Supplies Prepaid Insurance Buildings Accumulated depreciation-Buildings Accounts Payable Common Stock Retained Earnings Dividends Accounts Balances $16,000 15,000 4,000 8,000 300,000 120,000 19,000 90,000 105,000 15,000 Accounts Service Revenue Interest Revenue Depreciation Expense Insurance Expense Salaries and Wages Expense Supplies Expense Utilities Expense Accounts Balances $105,000 8,000 27,000 6,000 35,000 9,000 12,000 Prepare the end of the period closing entries for the Fitness...
The adjusted trial balance for Pl Detectives reported the following account balances: Accounts Receivable $590; Supplies...
The adjusted trial balance for Pl Detectives reported the following account balances: Accounts Receivable $590; Supplies $9,900; Prepaid Insurance $8,100; Equipment $32,500; Accumulated Depreciation $4,900; Accounts Payable $290; Deferred Revenue $5,900; Notes Payable $3,900; Common Stock $26,500; Retained Earnings $6,600; Dividends $3,900; Service Revenue $38,300; Salaries and Wages Expense $24,500; and Depreciation Expense $1,000. Prepare an adjusted trial balance as of December 31, and solve for its missing Cash balance. PIDETECTIVES Adjusted Trial Balance As of December 31 Debit Credit...
December 31, 2019 Debit Credit Cash $3,150 Accounts Receivable 5,650 Prepaid Insurance 4,480 Equipment 42,000 Accumulated...
December 31, 2019 Debit Credit Cash $3,150 Accounts Receivable 5,650 Prepaid Insurance 4,480 Equipment 42,000 Accumulated Depreciation, $24,000 Equipment Accounts Payable 2,800 Salaries Payable 4,450 3,875 Unearned Service Revenue Common Stock 8,000 Retained Earnings 2,255 Dividends 10,500 Service Revenue 99,600 Salaries Expense 49,400 Rent Expense 17,250 Insurance Expense 2,200 Depreciation Expense 4,950 Income Tax Expense 5,400 144,980 144,980 Totals Required: Prepare the closing entries for Sparrow at December 31, 2019. If an amount box does not require an entry, leave...
View previous at 14 01:25:42 Account Cash Accounts Receivable Prepaid Insurance Supplies Accounts Payable Common Stock Retained Earnings Service Revenue Salaries Expense Utilities Expense Debit Credit $11,000 2,200 2,800 1,200 $ 5,500 4,500 1,000 8,000 600 1,200 $19,000 $19,000 Totals Using the information in the table, calculate the company's reported net income for the period.
woud Solutions had the following accounts and balances as of December 31 Account Debit Cre Cash $20,000 Accounts Receivable 2,000 Salaries Expense 500 Accounts Payable $ 4,000 Lodging Revenue 7,000 Utilities Expense See Prepaid Insurance 1,400 Supplies 1,500 Common Stock 14,980 Totals $25,900 $25,900 PERLE Using the information in the table, calculate the total assets reported on the balance sheet for the period 0 SOO 0 0 0 0
1. Jackson Services had the following accounts and balances at December 31: Cash Account Debit Credit $ 20,000 Accounts Receivable 6,000 Prepaid Insurance 1,500 Supplies 5,000 Accounts Payable $ 500 R. Jackson, Capital 16,200 R. Jackson, Withdrawals 1,000 Service Revenue 20,000 Utilities Expense 2,000 Salaries Expense 1,200 Totals $ 36,700 $ 36,700 1. Determine the amount of Net Income and be sure to show all of your work.
Smiles Entertainment had the following accounts and balances at December 31: Credit Debit Account $12,100 2,420 3,240 1,420 Cash Accounts Receivable Prepaid Insurance Supplies Accounts Payable $ 6,050 5,050 Common Stock Retained Earnings 1,110 9,100 Service Revenue Salaries Expense 710 Utilities Expense 1,420 $21,310 $21,310 Totals Using the information in the table, calculate the company's reported net income for the period. Multiple Cholce O $1520. O $4,630. O $5.340.
Sparrow Company Adjusted Trial Balance December 31, 2019 Debit Credit Cash $3,150 Accounts Receivable 5,650 Prepaid Insurance 4,480 Equipment 42,000 Accumulated Depreciation, Equipment $24,000 2,800 Accounts Payable Salaries Payable 4,450 Unearned Service Revenue 3,875 8,000 Common Stock Retained Earnings 2,255 Dividends 10,500 Service Revenue 100,000 Salaries Expense 49,400 Rent Expense 17,250 Insurance Expense 2,200 Depreciation Expense 4,950 Income Taxes Expense 5,800 Totals $145,380 $145,380 Salaries Expense 49,400 Rent Expense 17,250 2,200 Insurance Expense Depreciation Expense Income Taxes Expense 4,950 5,800...
The adjusted account balances of the Fitness Center at July 31 are as follows: Accounts Cash Accounts Receivable Supplies Prepaid Insurance Buildings Accumulated depreciation-Buildings Accounts Payable Common Stock Retained Earnings Dividends Accounts Balances $16,000 15,000 4,000 8,000 300,000 120,000 19,000 90,000 105,000 15,000 Accounts Service Revenue Interest Revenue Depreciation Expense Insurance Expense Salaries and Wages Expense Supplies Expense Utilities Expense Accounts Balances $105,000 8,000 27,000 6,000 35,000 9,000 12,000 Prepare the end of the period closing entries for the Fitness...
The adjusted trial balance for Pl Detectives reported the following account balances: Accounts Receivable $590; Supplies $9,900; Prepaid Insurance $8,100; Equipment $32,500; Accumulated Depreciation $4,900; Accounts Payable $290; Deferred Revenue $5,900; Notes Payable $3,900; Common Stock $26,500; Retained Earnings $6,600; Dividends $3,900; Service Revenue $38,300; Salaries and Wages Expense $24,500; and Depreciation Expense $1,000. Prepare an adjusted trial balance as of December 31, and solve for its missing Cash balance. PIDETECTIVES Adjusted Trial Balance As of December 31 Debit Credit...
December 31, 2019 Debit Credit Cash $3,150 Accounts Receivable 5,650 Prepaid Insurance 4,480 Equipment 42,000 Accumulated Depreciation, $24,000 Equipment Accounts Payable 2,800 Salaries Payable 4,450 3,875 Unearned Service Revenue Common Stock 8,000 Retained Earnings 2,255 Dividends 10,500 Service Revenue 99,600 Salaries Expense 49,400 Rent Expense 17,250 Insurance Expense 2,200 Depreciation Expense 4,950 Income Tax Expense 5,400 144,980 144,980 Totals Required: Prepare the closing entries for Sparrow at December 31, 2019. If an amount box does not require an entry, leave...
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