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Question it (40 marks) The trial balance as on December 31, 2019 for XYZ Enterprises is...
Question 1: (40 marks) metal balance as on December 31, 2019 XYZ E i s is...
Question 1: (40 marks) metal balance as on December 31, 2019 XYZ E i s is as follows Cash 7.950 Accounts receivable Prepaid rent Furniture Office equipment Long-term note payable Accounts payable 4,850 1.240 12.600 6,000 7,360 4,660 2.550 15.300 Rent payable Capital Drawing 2,000 Services revenues 15.960 Salaries expenses 7.550 Rent expenses 2,500 1.110 Insurance expenses Total 45,830 45,830 Required: a. An income statement for the year ended December 31, 2019 b. A statement of owner's equity for the...
The account balances from the December 31, 2019, trial balance for Haman Accounting Services are shown...
The account balances from the December 31, 2019, trial balance for Haman Accounting Services are shown below. HAPAN ACCOUNTING Trial Balance December 31, 2019 ACCOUNT NAME DEBIT CREDIT Cash 7,600 Accounts Receivable 3,600 Supplies Prepaid Rent 17.ee Equipment 16,000 Accounts Payable 9.200 Erik Haman, Capital 12/1/19 25,000 Erik Haman, Drawing 4,6ee Fees Income Salaries Expense 4.600 Utilities Expense Totals 58.700 58.700 1. Prepare an income statement for the Haman Accounting Services for the month ended December 31, 2019 2. Prepare...
Income Statement and Balance Sheet The following information for Rogers Enterprises is available at December 31,...
Income Statement and Balance Sheet The following information for Rogers Enterprises is available at December 31, 2019, and includes all of Rogers' financial statement amounts except retained earnings: Accounts receivable $72,920 Cash 13,240 Common stock (10,000 shares) 65,000 Income taxes expense 13,000 Income taxes payable 4,150 Interest expense 16,500 Notes payable (due in 10 years) 25,000 Prepaid rent (building) 31,500 Property, plant, and equipment 90,000 Rent expense 135,000 Retained earnings ? Salaries expense 235,200 Salaries payable 15,710 Service revenue 464,000...
Account Title Cash Accounts Receivable Supplies Equipment Austin Enterprises End-of-Period Spreadsheet For the Year Ended December...
Account Title Cash Accounts Receivable Supplies Equipment Austin Enterprises End-of-Period Spreadsheet For the Year Ended December 31 Adjusted Trial Balance Income Statement Dr. cr. Dr. r. 26,500 7,000 1,000 18,500 5,000 11,000 1,000 8,000 2,000 59,500 59,500 19,000 19,000 7,000 7,000 3,500 3,500 84,500 84,500 29,500 59,500 30,000 59,500 59,500 Balance Sheet Dr. Cr. 26,500 7,000 1,000 18,500 5,000 11,000 1,000 8,000 2,000 Accumulated Depr.-Equip. Accounts Payable Wages Payable Daniel Austin, Capital Daniel Austin, Drawing Fees Earned Wages Expense Rent...
Instructions The amounts of the assets and liabilities of Nordic Travel Agency at December 31, 2019,...
Instructions The amounts of the assets and liabilities of Nordic Travel Agency at December 31, 2019, the end of the year, and its revenue and expenses for the year follow. The capital of lan Eisele, owner, was $680,000 on January 1, 2019, the beginning of the year. During the year, lan withdrew $45,000. Accounts Accounts payable Amounts $71,000 Accounts receivable 268,000 Cash 191,500 Fees earned 881,000 Land 546,000 Miscellaneous expense 6,700 Rent expense 33,000 5,700 Supplies Supplies expense 4,100 Utilities...
The following unadjusted trial balance is for Wright's Wrecking Ball Company as of December 31", 2019....
The following unadjusted trial balance is for Wright's Wrecking Ball Company as of December 31", 2019. The December 31" 2018 balance in the owner's capital account was $50,000, and the owner invested $40,000 cash in the company during 2019. Debit Credit $ 10,000 15.000 14.000 150,000 $ 10,000 4,650 Cash Supplies Prepaid insurance Equipment Accum. Dep. - Equipment Accounts payable Interest payable Rent payable Wages payable Property taxes payable Utilities payable Long-term notes payable Owner's Capital Withdrawals Fees earned Depreciation...
Sparrow Company had the following adjusted trial balance at December 31, 2019. Sparrow Company Adjusted Trial...
Sparrow Company had the following adjusted trial balance at December 31, 2019. Sparrow Company Adjusted Trial Balance December 31, 2019 Debit Credit $3,150 5,650 4,480 42,000 $24,000 Cash Accounts Receivable Prepaid Insurance Equipment Accumulated Depreciation, Equipment Accounts Payable Salaries Payable Unearned Service Revenue Common Stock Retained Earnings 2,800 4,450 3,875 8,000 2,255 Dividends 10,500 99,600 Service Revenue Salaries Expense Rent Expense Insurance Expense Depreciation Expense Income Tax Expense Totals 49,400 17,250 2,200 4,950 5,400 144,980 144,980 Required: Prepare a single-step...
Sparrow Company had the following adjusted trial balance at December 31, 2019. Sparrow Company Adjusted Trial...
Sparrow Company had the following adjusted trial balance at December 31, 2019. Sparrow Company Adjusted Trial Balance December 31, 2019 Debit Credit $3,150 Cash Accounts Receivable 5,650 Prepaid Insurance 4,480 Equipment 42,000 Accumulated Depreciation, $24,000 Equipment Accounts Payable 2,800 Salaries Payable 4,450 Unearned Service Revenue 3,875 Common Stock 8,000 Retained Earnings 2,255 10,500 Dividends 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 Totals 144,980 144,980 Required: Prepare a single-step...
Continuing Problem Chapter 4-Instruction #1 The adjusted trial balance of PS Music as of July 31,...
Continuing Problem Chapter 4-Instruction #1 The adjusted trial balance of PS Music as of July 31, 2019 is shown below: PS Music Adjusted Trial Balance July 31, 2019 Debit Balances Credit Balances Cash 9,945 Accounts Receivable 4,150 Supplies 275 Prepaid Insurance 2,475 Office Equipment 7,500 Accumulated Depreciation—Office Equipment 50 Accounts Payable 8,350 Wages Payable 140 Unearned Revenue 3,600 Peyton Smith, Capital 9,000 Peyton Smith, Drawing 1,750 Fees Earned 21,200 Music Expense 3,610 Wages Expense 2,940 Office Rent Expense 2,550 Advertising...
Instructions The amounts of the assets and liabilities of Nordic Travel Agency at December 31, 2019,...
Instructions The amounts of the assets and liabilities of Nordic Travel Agency at December 31, 2019, the end of the year, and its revenue and expenses for the year follow. The capital of lan Eisele, owner, was $680,000 on January 1, 2019, the beginning of the year. During the year, lan withdrew $43,000 Accounts Accounts payable Accounts receivable Amounts $65,500 264,000 Cash 180,500 Fees earned 879,200 Land 541,000 Miscellaneous expense 6,900 Rent expense 32,000 5,200 Supplies Supplies expense 4,100 Utilities...
Question 1: (40 marks) metal balance as on December 31, 2019 XYZ E i s is as follows Cash 7.950 Accounts receivable Prepaid rent Furniture Office equipment Long-term note payable Accounts payable 4,850 1.240 12.600 6,000 7,360 4,660 2.550 15.300 Rent payable Capital Drawing 2,000 Services revenues 15.960 Salaries expenses 7.550 Rent expenses 2,500 1.110 Insurance expenses Total 45,830 45,830 Required: a. An income statement for the year ended December 31, 2019 b. A statement of owner's equity for the...
The account balances from the December 31, 2019, trial balance for Haman Accounting Services are shown below. HAPAN ACCOUNTING Trial Balance December 31, 2019 ACCOUNT NAME DEBIT CREDIT Cash 7,600 Accounts Receivable 3,600 Supplies Prepaid Rent 17.ee Equipment 16,000 Accounts Payable 9.200 Erik Haman, Capital 12/1/19 25,000 Erik Haman, Drawing 4,6ee Fees Income Salaries Expense 4.600 Utilities Expense Totals 58.700 58.700 1. Prepare an income statement for the Haman Accounting Services for the month ended December 31, 2019 2. Prepare...
Account Title Cash Accounts Receivable Supplies Equipment Austin Enterprises End-of-Period Spreadsheet For the Year Ended December 31 Adjusted Trial Balance Income Statement Dr. cr. Dr. r. 26,500 7,000 1,000 18,500 5,000 11,000 1,000 8,000 2,000 59,500 59,500 19,000 19,000 7,000 7,000 3,500 3,500 84,500 84,500 29,500 59,500 30,000 59,500 59,500 Balance Sheet Dr. Cr. 26,500 7,000 1,000 18,500 5,000 11,000 1,000 8,000 2,000 Accumulated Depr.-Equip. Accounts Payable Wages Payable Daniel Austin, Capital Daniel Austin, Drawing Fees Earned Wages Expense Rent...
Instructions The amounts of the assets and liabilities of Nordic Travel Agency at December 31, 2019, the end of the year, and its revenue and expenses for the year follow. The capital of lan Eisele, owner, was $680,000 on January 1, 2019, the beginning of the year. During the year, lan withdrew $45,000. Accounts Accounts payable Amounts $71,000 Accounts receivable 268,000 Cash 191,500 Fees earned 881,000 Land 546,000 Miscellaneous expense 6,700 Rent expense 33,000 5,700 Supplies Supplies expense 4,100 Utilities...
The following unadjusted trial balance is for Wright's Wrecking Ball Company as of December 31", 2019. The December 31" 2018 balance in the owner's capital account was $50,000, and the owner invested $40,000 cash in the company during 2019. Debit Credit $ 10,000 15.000 14.000 150,000 $ 10,000 4,650 Cash Supplies Prepaid insurance Equipment Accum. Dep. - Equipment Accounts payable Interest payable Rent payable Wages payable Property taxes payable Utilities payable Long-term notes payable Owner's Capital Withdrawals Fees earned Depreciation...
Sparrow Company had the following adjusted trial balance at December 31, 2019. Sparrow Company Adjusted Trial Balance December 31, 2019 Debit Credit $3,150 5,650 4,480 42,000 $24,000 Cash Accounts Receivable Prepaid Insurance Equipment Accumulated Depreciation, Equipment Accounts Payable Salaries Payable Unearned Service Revenue Common Stock Retained Earnings 2,800 4,450 3,875 8,000 2,255 Dividends 10,500 99,600 Service Revenue Salaries Expense Rent Expense Insurance Expense Depreciation Expense Income Tax Expense Totals 49,400 17,250 2,200 4,950 5,400 144,980 144,980 Required: Prepare a single-step...
Sparrow Company had the following adjusted trial balance at December 31, 2019. Sparrow Company Adjusted Trial Balance December 31, 2019 Debit Credit $3,150 Cash Accounts Receivable 5,650 Prepaid Insurance 4,480 Equipment 42,000 Accumulated Depreciation, $24,000 Equipment Accounts Payable 2,800 Salaries Payable 4,450 Unearned Service Revenue 3,875 Common Stock 8,000 Retained Earnings 2,255 10,500 Dividends 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 Totals 144,980 144,980 Required: Prepare a single-step...
Instructions The amounts of the assets and liabilities of Nordic Travel Agency at December 31, 2019, the end of the year, and its revenue and expenses for the year follow. The capital of lan Eisele, owner, was $680,000 on January 1, 2019, the beginning of the year. During the year, lan withdrew $43,000 Accounts Accounts payable Accounts receivable Amounts $65,500 264,000 Cash 180,500 Fees earned 879,200 Land 541,000 Miscellaneous expense 6,900 Rent expense 32,000 5,200 Supplies Supplies expense 4,100 Utilities...
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