avis Company has the following accounts and balances at the end of the year: Cash, $1,200...
avis Company has the following accounts and balances at the end
of the year:
Cash, $1,200
Accounts Receivable, $280
Office Equipment, $3,000
Accounts Payable, $1,400
Income from Services, $3,500
Rent Expense, $670
Salaries Expense, $1,000
R. Davis, Capital at the beginning of the year was $2,050. Rob
Davis also withdrew $800 from the company during the year. What is
net income for the year?
Homework Answers
Answer: $1,830
Workings:
Net Income = Income from service - Rent expense - Salaries expense
= $3,500 - $670 - $1,000
= $1,830
Add Answer to:
avis Company has the following accounts and balances at the end
of the year:
Cash, $1,200...
[The following information applies to the questions displayed below.] The accounts and balances for Paw Prints...
[The following information applies to the questions displayed below.] The accounts and balances for Paw Prints Pet Sitters on November 1 are provided below. Cash 19,400 Fees Income -0- Accounts Receivable 800 Rent Expense -0- Office Equipment 2,000 Utilities Expense -0- Supplies 200 Salaries Expense -0- Accounts Payable 1,000 Kelly Connor, Capital 21,400 Kelly Connor, Drawing -0- The following transactions occurred during the month of November. A. Collected $300 from credit customers. B. Issued a check for $710 for November's...
Required information [The following information applies to the questions displayed below.] The accounts and balances for...
Required information [The following information applies to the questions displayed below.] The accounts and balances for Paw Prints Pet Sitters on November 1 are provided below. Cash 19,800 Fees Income -0- Accounts Receivable 880 Rent Expense -0- Office Equipment 2,800 Utilities Expense -0- Supplies 280 Salaries Expense -0- Accounts Payable 1,800 Kelly Connor, Capital 21,960 Kelly Connor, Drawing -0- The following transactions occurred during the month of November. a.Collected $380 from credit customers. b.Issued a check for $710 for November's...
Below are the account balances of Bruins Company at the end of November. Accounts Cash Accounts...
Below are the account balances of Bruins Company at the end of November. Accounts Cash Accounts Receivable Supplies Prepaid Rent Equipment Accounts Payable Salaries Payable Interest Payable Deferred Revenue Notes Payable Balances Accounts $ 40,000 Common Stock 50,000 Retained Earnings 1,100 Dividends 3,000 Service Revenue Salaries Expense 17,000 Rent Expense 5,000 Interest Expense 3,000 Supplies Expense 9,000 Utilities Expense 30,000 Balances $50,000 35,000 1,100 65,000 30,000 12,000 3,000 7,000 6,000 Required: Prepare a trial balance by placing amounts in the...
The ledger account balances for Company B at December 31, 2025 are as follows: Cash $...
The ledger account balances for Company B at December 31, 2025 are as follows: Cash $ 300 Accounts Receivable 522 Prepaid Insurance 74 Supplies 160 Equipment 4,000 Accumulated Depreciation, Equipment 600 Accounts Payable 384 Common Stock 1,200 Retained Earnings 1,400 Service Revenue 3,000 Salaries and Wages Expense 1,000 Rent Expense 500 If all accounts have normal balances, what would be total debits on the trial balance at December 31, 2022? Group of answer choices
Barrington Company has the following chart of accounts: Cash Michelle Barrington, Drawing Accounts Receivable Fees Income...
Barrington Company has the following chart of accounts: Cash Michelle Barrington, Drawing Accounts Receivable Fees Income Supplies Advertising Expense Office Furniture Rent Expense Equipment Salaries Expense Accounts Payable Telephone Expense Michelle Barrington, Capital Utilities Expense Use this chart of accounts to write journal entries for each of the following transactions. Michelle Barrington invested $16,000 cash to start the business Issued check #101 to pay $1,200 for this month's rent for the office space. Purchased equipment for $7,000; issued check #102...
The accounts and balances for Paw Prints Pet Sitters on November 1 are provided below. Cash...
The accounts and balances for Paw Prints Pet Sitters on November 1 are provided below. Cash 19,550 Fees Income -0- Accounts Receivable 830 Rent Expense -0- Office Equipment 2,300 Utilities Expense -0- Supplies 230 Salaries Expense -0- Accounts Payable 1,300 Kelly Connor, Capital 21,610 Kelly Connor, Drawing -0- The following transactions occurred during the month of November. Collected $330 from credit customers. Issued a check for $740 for November's rent. Paid $1,650 for salaries. The owner withdrew $540 in cash...
Required information [The following information applies to the questions displayed below.] The accounts and balances for...
Required information [The following information applies to the questions displayed below.] The accounts and balances for Paw Prints Pet Sitters on November 1 are provided below. Cash 19,400 Fees Income -0- Accounts Receivable 800 Rent Expense -0- Office Equipment 2,000 Utilities Expense -0- Supplies 200 Salaries Expense -0- Accounts Payable 1,000 Kelly Connor, Capital 21,400 Kelly Connor, Drawing -0- The following transactions occurred during the month of November. Collected $300 from credit customers. Issued a check for $710 for November's...
The accounts and balances for Babysitting Co. on June 1 are provided below. Cash 10,200 Tees...
The accounts and balances for Babysitting Co. on June 1 are provided below. Cash 10,200 Tees Income -0. Accounts 1,700 Rent expense -0- receivable Utilities office equipment 5,100 -D- expense Supplies 1,100 salaries expense --- Accounts payable 4,100 Kelly Connor, Capital 14,000 Kelly Connor, Drawing The following transactions occurred during the month of June. a Collected $800 from credit customers. b. Issued a check for $1900 for November's rent. c. Paid $3,200 for salaries. d. The owner withdrew $600 in...
On December 31, the ledger of Davis Company contained the following account balances: Accounts Payable $...
On December 31, the ledger of Davis Company contained the following account balances: Accounts Payable $ 13,600 Fees Income $ 182,000 Accounts Receivable 6,000 Supplies 4,400 Accumulated Depreciation 8,400 Prepaid Rent 62,000 Cash 84,000 Rent Expense 9,200 Depreciation Expense 8,400 Supplies Expense 8,400 Equipment 72,000 Teresa Davis, Capital 120,000 Teresa Davis, Drawing 54,000 Utilities Expense 15,600 All the accounts have normal balances. Prepare the closing entries for Davis Company On December 31. *Fee income to income summary, expenses to income...
balance of the erchandising company. The Balances from the trial company as of December 31, 2017...
balance of the erchandising company. The Balances from the trial company as of December 31, 2017 is given below. Hudson Co. Balances from the Trial Balance December 31.2011 Accounts Payable Customer Deposits Received Accumulated Depreciation, Office Equipment Prepaid Rent Long-term Notes Payable Merchandise Inventory Advertising Expense Sales Returns&Allowances Office Supplies Expense Interest Payable $13,000 1.400 12,000 1,800 9,500 2.800 6,000 3,400 1,800 Insurance Expense Sales Office Equipment 300,000 62,000 Rent Expense Withdrawals Cost of Goods Sold Capital 6,000 3,500 149,000...
Below are the account balances of Bruins Company at the end of November. Accounts Cash Accounts Receivable Supplies Prepaid Rent Equipment Accounts Payable Salaries Payable Interest Payable Deferred Revenue Notes Payable Balances Accounts $ 40,000 Common Stock 50,000 Retained Earnings 1,100 Dividends 3,000 Service Revenue Salaries Expense 17,000 Rent Expense 5,000 Interest Expense 3,000 Supplies Expense 9,000 Utilities Expense 30,000 Balances $50,000 35,000 1,100 65,000 30,000 12,000 3,000 7,000 6,000 Required: Prepare a trial balance by placing amounts in the...
The accounts and balances for Babysitting Co. on June 1 are provided below. Cash 10,200 Tees Income -0. Accounts 1,700 Rent expense -0- receivable Utilities office equipment 5,100 -D- expense Supplies 1,100 salaries expense --- Accounts payable 4,100 Kelly Connor, Capital 14,000 Kelly Connor, Drawing The following transactions occurred during the month of June. a Collected $800 from credit customers. b. Issued a check for $1900 for November's rent. c. Paid $3,200 for salaries. d. The owner withdrew $600 in...
balance of the erchandising company. The Balances from the trial company as of December 31, 2017 is given below. Hudson Co. Balances from the Trial Balance December 31.2011 Accounts Payable Customer Deposits Received Accumulated Depreciation, Office Equipment Prepaid Rent Long-term Notes Payable Merchandise Inventory Advertising Expense Sales Returns&Allowances Office Supplies Expense Interest Payable $13,000 1.400 12,000 1,800 9,500 2.800 6,000 3,400 1,800 Insurance Expense Sales Office Equipment 300,000 62,000 Rent Expense Withdrawals Cost of Goods Sold Capital 6,000 3,500 149,000...
Most questions answered within 3 hours.
-
find the critical value associated with a right sided hypothesis of
the mean using a sample...
asked 1 hour ago -
Which of the following statements is true with respect to a
simple linear regression model?
a....
asked 2 hours ago -
The energy required to remove an electron from a surface of a
solid element is called...
asked 3 hours ago -
How would you train your employees to avoid risks of using
mobile devices?
asked 4 hours ago -
Assume Kw = 1.01 ✕ 10−14
For pure water, we can calculate [H3O+ ] = [OH...
asked 5 hours ago -
Suppose that on a temperature scale X, water boils at 203.0°X
and freezes at -105.7°X. What...
asked 5 hours ago -
BaS crystallizes in a cubic unit cell with S2- ions on each
corner and each face....
asked 6 hours ago -
A. 0≤P(Oi)≤10≤P(Oi)≤1 for each i
B. P(Oi)≤0P(Oi)≤0
C. P(Oi)=1+P(OCi)P(Oi)=1+P(OiC)
D. P(Oi)≥1P(Oi)≥1
If an experiment consists of...
asked 7 hours ago -
A battery has an emf of 9.20V and an internal resistance of 1.20
ohm. a)What resistance...
asked 7 hours ago -
The area of an elastic circular loop decreases at a constant
rate, dA/dt = −6.60×10−3 m2/s...
asked 8 hours ago -
The denaturation of proteins can be described by the
equilibrium
F⇌U
where F and U represent...
asked 10 hours ago -
Please answer what the maximum and minimum force is, and the
angle on the ion is...
asked 10 hours ago