Multiple Choice Question:
a.) (Cash + AR + Inventory) - AE
b.) Revenue - AE
c.) Cash + AR + Revenue
d.) Cash + AR + Inventory
e.) (Cash + AR + Inventory) - (AE + AP)
Homework Answers
Correct answer------------e.) (Cash + AR + Inventory) - (AE + AP)
.
The Working capital is calculated as total current assets Minus all current liabilities.
Add Answer to:
Multiple Choice Question:
a.) (Cash + AR + Inventory) - AE
b.) Revenue - AE
c.)...
Question 2 Use the following information to answer questions that follow. The following information was found...
Question 2 Use the following information to answer questions that follow. The following information was found in the books of Kelebale. Capital 32,000 Sales 160,000 Sales Returns 5,000 Furniture and Fittings 10,000 Opening inventory 10,000 Motor vehicles 25,000 Purchases 125,000 Purchases Returns 3,000 Accounts Payable 10,000 Accounts receivable 15,000 Short loan 18,000 Bank 10,000 Cash 3,000 General expenses 7,000 Electricity 5,000 Motor expenses 2,000 Telephone 2,000 Rent 5,000 Interest payable 1,500 Interest receivable 500 Closing stock 7,000 Required: a. Prepare...
Masks, Inc Trial Balance at 12/31/XX Cash $11,000 Supplies $5,000 Accounts Receivable $4,000 Accounts Payable $3,000...
Masks, Inc Trial Balance at 12/31/XX Cash $11,000 Supplies
$5,000 Accounts Receivable $4,000 Accounts Payable $3,000 Common
Stock $2,000 Dividends $1,000 Supplies Expense $10,500 Insurance
Expense $700 Masks Revenue $15,000 What is Net Income?
Masks, Inc Trial Balance at 12/31/XX Cash $11,000 Supplies $5,000 Accounts Receivable $4,000 Accounts Payable $3,000 Common Stock $2,000 Dividends $1,000 Supplies Expense $10,500 Insurance Expense $700 Masks Revenue $15,000 What is Net Income? Multiple Choice $800 non Multiple Choice $800 $3,800 $2,800 $2,800 < Prev...
Trial Balance DR CR Cash 10,000 AR 2,000 Supplies &nb
Trial Balance DR CR Cash 10,000 AR 2,000 Supplies 1,000 Equipment 5,000 Accum depreciation 2,000 Automobile 15,000 Accum depreciation 3,000 AP 5,000 Wages Payable 2,000 Unearned Fees 3,000 Jones, Capital 10,700 Jones, Drawing 1,000 Fees Earned 12,000 Rent Expense 2,000 Wages Expense 1,000 Utility Expense 500 Supplies Expense - Depreciation Expense - Misc. Expense 200 Total 37,700 37,700 The...
23 Masks, Inc Trial Balance at 12/31/XX Cash $11,000 Supplies $5,000 Accounts Receivable $4.000 Accounts Payable...
23 Masks, Inc Trial Balance at 12/31/XX Cash $11,000 Supplies $5,000 Accounts Receivable $4.000 Accounts Payable $3,000 Common Stock $2,000 Dividends $1,000 Supplies Expense $10,500 Insurance Expense $700 Masks Revenue $15,000 2 01:29.14 What is Net Income? Multiple Choice $2,800 $3,800 $2.800 $800 $800
Multiple Choice Correct Question 6 of 18 < > -72 III View Policies Viewing Question 6...
Multiple Choice Correct Question 6 of 18 < > -72 III View Policies Viewing Question 6 Multiple Choice -72 Not started Current Attempt in Progress Oriole Company showed the following balances at the end of its first year: Question 7 Multiple Choice 2/2 Correct Cash $3900 Question 8 Multiple Choice 2/2 Correct Prepaid insurance 6980 Accounts receivable 5080 Question 9 Multiple Choice 2/2 Correct Accounts payable 3930 Notes payable 6000 Question 10 Multiple Choice 2/2 Correct Owner's Capital 1920 Owner's...
1. What are the company’s total liabilities? 2. What is the company’s total equity? 3. What...
1. What are the company’s total liabilities?
2. What is the company’s total equity?
3. What are the company’s total assets?
Accounts Payable 5,000 Long-term Notes Receivable 10,000 Accounts Receivable 15,000 Accrued Expenses 3,000 Cash 10,000 Short-term Notes Payable 7,000 Retained Earnings 2,000 Accumulated depreciation 2,000 Prepaid Expenses 3,000 Capital Stock 8,000 Supplies 7,000
Barney Company Unadjusted Trial Balance December 31, 2018 Cash Accounts Receivable Supplies Prepaid Insurance Inventory Vehicle...
Barney Company Unadjusted Trial Balance December 31, 2018 Cash Accounts Receivable Supplies Prepaid Insurance Inventory Vehicle 145,000 23,000 6,500 24,000 110,000 15,000 75,000 50,000 8,000 16,900 3,000 45,000 46,000 67,600 5,000 490,000 Equipment Accumulated Depreciation Accounts Payable Unearned Revenue Wages Payable Long-Term Notes Payable Common Stock Retained Earnings (1/1/2018) Dividends Service Revenue Repair Expense Delivery Expense Depreciation Expense Rent Expense Insurance Expense Wages Expense Supplies Expense Interest Expense Income Tax Expense Total 10,000 45,000 5,000 54,000 12,000 145,000 13,000 4,000...
prepare an Income Statement and Balance Sheet. Balance Account Name Db Cr Accounts Payable 3,000...
prepare an Income Statement and Balance Sheet. Balance Account Name Db Cr Accounts Payable 3,000 Accounts Receivable 5,000 Accrued Expenses 15,000 Accumulated Depr. Equipment 5,000 Building 100,000 Capital Stock ####### Cash 50,000 Cost of Goods Sold 10,000 Equipment 50,000 Income Tax Payable 1,000 Land 50,000 Long Term Debt 75,000 Long Term Investments 100,000 Marketing Expenses 8,000 Merchandise Inventory 2,500 PrePaid Expenses 3,000 Rent Expenses ...
MULTIPLE CHOICE PART II MULTIPLE-CHOICE QUESTIONS (30 Points) 1. a. Although debits increase assets, they also...
MULTIPLE CHOICE
PART II MULTIPLE-CHOICE QUESTIONS (30 Points) 1. a. Although debits increase assets, they also increase revenues b. increase expenses increase owner's equity d. increase liabilities c. 2. a. The right side of a T account is the increase side b. decrease side c. credit side d. debit side 3. a. b. A compound entry is an entry affecting more than one account an entry involving multiple transactions an entry involving more than one date an entry increasing and...
Multiple Choice Question 141 Tamarisk, Inc.'s trial balance reported the following balances at the end of...
Multiple Choice Question 141 Tamarisk, Inc.'s trial balance reported the following balances at the end of its first year: Cash Prepaid insurance Accounts receivable Accounts payable Notes payable Common stock Dividends Revenues Expenses $14560 730 3640 2910 4370 5620 730 30160 18200 What amount did Tamarisk, Inc.'s trial balance show as total credits? $43060 $42330 $44520 $43790
Masks, Inc Trial Balance at 12/31/XX Cash $11,000 Supplies
$5,000 Accounts Receivable $4,000 Accounts Payable $3,000 Common
Stock $2,000 Dividends $1,000 Supplies Expense $10,500 Insurance
Expense $700 Masks Revenue $15,000 What is Net Income?
Masks, Inc Trial Balance at 12/31/XX Cash $11,000 Supplies $5,000 Accounts Receivable $4,000 Accounts Payable $3,000 Common Stock $2,000 Dividends $1,000 Supplies Expense $10,500 Insurance Expense $700 Masks Revenue $15,000 What is Net Income? Multiple Choice $800 non Multiple Choice $800 $3,800 $2,800 $2,800 < Prev...
23 Masks, Inc Trial Balance at 12/31/XX Cash $11,000 Supplies $5,000 Accounts Receivable $4.000 Accounts Payable $3,000 Common Stock $2,000 Dividends $1,000 Supplies Expense $10,500 Insurance Expense $700 Masks Revenue $15,000 2 01:29.14 What is Net Income? Multiple Choice $2,800 $3,800 $2.800 $800 $800
Multiple Choice Correct Question 6 of 18 < > -72 III View Policies Viewing Question 6 Multiple Choice -72 Not started Current Attempt in Progress Oriole Company showed the following balances at the end of its first year: Question 7 Multiple Choice 2/2 Correct Cash $3900 Question 8 Multiple Choice 2/2 Correct Prepaid insurance 6980 Accounts receivable 5080 Question 9 Multiple Choice 2/2 Correct Accounts payable 3930 Notes payable 6000 Question 10 Multiple Choice 2/2 Correct Owner's Capital 1920 Owner's...
1. What are the company’s total liabilities?
2. What is the company’s total equity?
3. What are the company’s total assets?
Accounts Payable 5,000 Long-term Notes Receivable 10,000 Accounts Receivable 15,000 Accrued Expenses 3,000 Cash 10,000 Short-term Notes Payable 7,000 Retained Earnings 2,000 Accumulated depreciation 2,000 Prepaid Expenses 3,000 Capital Stock 8,000 Supplies 7,000
Barney Company Unadjusted Trial Balance December 31, 2018 Cash Accounts Receivable Supplies Prepaid Insurance Inventory Vehicle 145,000 23,000 6,500 24,000 110,000 15,000 75,000 50,000 8,000 16,900 3,000 45,000 46,000 67,600 5,000 490,000 Equipment Accumulated Depreciation Accounts Payable Unearned Revenue Wages Payable Long-Term Notes Payable Common Stock Retained Earnings (1/1/2018) Dividends Service Revenue Repair Expense Delivery Expense Depreciation Expense Rent Expense Insurance Expense Wages Expense Supplies Expense Interest Expense Income Tax Expense Total 10,000 45,000 5,000 54,000 12,000 145,000 13,000 4,000...
MULTIPLE CHOICE
PART II MULTIPLE-CHOICE QUESTIONS (30 Points) 1. a. Although debits increase assets, they also increase revenues b. increase expenses increase owner's equity d. increase liabilities c. 2. a. The right side of a T account is the increase side b. decrease side c. credit side d. debit side 3. a. b. A compound entry is an entry affecting more than one account an entry involving multiple transactions an entry involving more than one date an entry increasing and...
Multiple Choice Question 141 Tamarisk, Inc.'s trial balance reported the following balances at the end of its first year: Cash Prepaid insurance Accounts receivable Accounts payable Notes payable Common stock Dividends Revenues Expenses $14560 730 3640 2910 4370 5620 730 30160 18200 What amount did Tamarisk, Inc.'s trial balance show as total credits? $43060 $42330 $44520 $43790
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