Homework Answers
Answer: Total Revenue = $ 17,000
Reason: Total revenue is the amount Which is shown on the credit side of the income summary. Here Credit side of income summary account shown only one figure that is $17,000. h3nce total revenue is $17,000.
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Question 3 (10 points) A summary of selected ledger accounts appear below for S. Ball for...
a summary of ledger accounts appear below for S. Ball Question 1 (10 points) A summary...
a summary of ledger accounts appear below for S. Ball
Question 1 (10 points) A summary of selected ledger accounts appear below for S. Ball for the current calendar year. Answer questions 1 through 4 based on this information. S. Ball, Capital S Ball, Withdrawals 12/31 6,500 1 1 27,000 3/31 2,000 12/31 6,000 12 31 4.250 10/31 3,000 1.000 1222 Income Summary 12/31 12.750 12/31 17.000 1231 4.250 1. What was the total amount of withdrawals for the year?...
Question 2 (10 points) A summary of selected ledger accounts appear below for S. Ball for the current calendar y...
Question 2 (10 points) A summary of selected ledger accounts appear below for S. Ball for the current calendar year Answer questions 1 through 4 based on this information. S. Ball, Capital 1/1 27,000 12/31 4,250 S Ball, Withdrawals 3/31 2,000 10/31 3,000 12/31 6,500 12/31 6,000 12/22 1,000 Income Summary 12/31 17,000 12/31 12,750 12/31 4,250 2.What was the net income? $1000 O$4250 $6500 $2000 SJ OCT 27 Question 5 (6U points) Classify each of the following account types...
A summary of selected ledger accounts appears below for Alberto's Plumbing Services for the current calendar...
A summary of selected ledger accounts appears below for Alberto's Plumbing Services for the current calendar year-end. Alberto, Capital 12/31 8,500 1/1 6,500 12/31 15,000 Alberto, Drawing 6/30 3,500 12/31 15,000 11/30 5,000 Net income for the period is a. $18,500 b. $33,500 c. $13,000 d. $15,000 Please give the steps to answer the question
ASSIGNMENT 08 A01 Introduction to Accounting Directions: Be sure to save an electronic copy of your answer befor...
ASSIGNMENT 08 A01 Introduction to Accounting Directions: Be sure to save an electronic copy of your answer before submitting it to Ashworth College spelling and grammar. Sources must be cited in APA format. Your response should be four (4) double- spaced pages; refer to the "Assignment Format" page located on the Course Home page for specific format requirements. Part A (20 points) Prepare in proper form journal entries for the following transactions. Omit explanations. October 2 Owner made a cash...
A summary of selected transactions in ledger accounts appears below for Alberto’s Plumbing Services for the...
A summary of selected transactions in ledger accounts appears below for Alberto’s Plumbing Services for the current calendar year-end. Common Stock 1/1 6,819 Retained Earnings 12/31 7,881 12/31 23,998 Dividends 3/30 2,489 12/31 7,881 9/30 5,392 Net income for the period is a.38,698 b.30,817 c.23,998 d.7,881
A summary of selected ledger accounts appears below for Alberto's Plumbing Services for the current calendar...
A summary of selected ledger accounts appears below for Alberto's Plumbing Services for the current calendar year-end. 12/31 Alberto, Capital 8,550 1/1 12/31 6,437 13,777 Alberto, Drawing 2,001 12/31 6,549 6/30 11/30 8,550 Net income for the period is Oa. $33,267 Ob. $6,437 Oc. $19,490 Od. $13,777
question 4 Able Fastners Co. has a balance in its Accounts Receivable general ledger control account of S 10,000 on January 1, 2019. The subsidiary ledger contains three vendor nts: Jones Company, bal...
question 4
Able Fastners Co. has a balance in its Accounts Receivable general ledger control account of S 10,000 on January 1, 2019. The subsidiary ledger contains three vendor nts: Jones Company, balance of s 3,000; Keller Company, balance of $ 1,000, arson Company. The combined subsidiary ledger account balances of Jones 4 Com om,Keller Company, and Larson Company at January 1, 2019 agree to the Accounts unts receivable general ledger control account balance at such date. During January 2019,...
The accounts below appear in the ledger of Concord Company. Retained Earnings Dr. Cr. Bal. Jan....
The accounts below appear in the ledger of Concord Company. Retained Earnings Dr. Cr. Bal. Jan. 1, 2017 Credit Balance $41,900 Aug. 15 Dividends (cash) $15,100 26,800 Dec. 31 Net Income for 2017 $40,300 67,100 Equipment Dr. Cr. Bal. Jan. 1, 2017 Debit Balance $141,000 Aug. 3 Purchase of Equipment $62,500 203,500 Sept. 10 Cost of Equipment Constructed 48,500 252,000 Nov. 15 Equipment Sold $55,800 196,200 Accumulated Depreciation—Equipment Dr. Cr. Bal. Jan. 1, 2017 Credit Balance $83,200 Apr. 8 Major...
The following selected accounts appear in the ledger of EJ Construction Inc. at the beginning of...
The following selected accounts appear in the ledger of EJ Construction Inc. at the beginning of the current fiscal year: Preferred 1% Stock, $50 par (100,000 shares authorized, 75,100 shares issued) $3,755,000 Paid-In Capital in Excess of Par—Preferred Stock 165,220 Common Stock, $3 par (5,000,000 shares authorized, 2,020,000 shares issued) 6,060,000 Paid-In Capital in Excess of Par—Common Stock 1,212,000 Retained Earnings 35,446,000 During the year, the corporation completed a number of transactions affecting the stockholders’ equity. They are summarized as...
please answer question 2 Problem Selected accounts from the ledger of Hughes Company appear below. For...
please answer question 2
Problem Selected accounts from the ledger of Hughes Company appear below. For each account, indicate the following: 1. In the first column at the right, indicate the nature of each account, using the following abbreviations: (a) Revenue R Asset A Liability - L Capital/Equity- C Expense - E In the second column, indicate the increase side of each account by inserting Dr. or (b) Cг. Туре оf Account Increase Side Account Supplies Notes Receivable Fees Earned...
a summary of ledger accounts appear below for S. Ball
Question 1 (10 points) A summary of selected ledger accounts appear below for S. Ball for the current calendar year. Answer questions 1 through 4 based on this information. S. Ball, Capital S Ball, Withdrawals 12/31 6,500 1 1 27,000 3/31 2,000 12/31 6,000 12 31 4.250 10/31 3,000 1.000 1222 Income Summary 12/31 12.750 12/31 17.000 1231 4.250 1. What was the total amount of withdrawals for the year?...
Question 2 (10 points) A summary of selected ledger accounts appear below for S. Ball for the current calendar year Answer questions 1 through 4 based on this information. S. Ball, Capital 1/1 27,000 12/31 4,250 S Ball, Withdrawals 3/31 2,000 10/31 3,000 12/31 6,500 12/31 6,000 12/22 1,000 Income Summary 12/31 17,000 12/31 12,750 12/31 4,250 2.What was the net income? $1000 O$4250 $6500 $2000 SJ OCT 27 Question 5 (6U points) Classify each of the following account types...
ASSIGNMENT 08 A01 Introduction to Accounting Directions: Be sure to save an electronic copy of your answer before submitting it to Ashworth College spelling and grammar. Sources must be cited in APA format. Your response should be four (4) double- spaced pages; refer to the "Assignment Format" page located on the Course Home page for specific format requirements. Part A (20 points) Prepare in proper form journal entries for the following transactions. Omit explanations. October 2 Owner made a cash...
A summary of selected ledger accounts appears below for Alberto's Plumbing Services for the current calendar year-end. 12/31 Alberto, Capital 8,550 1/1 12/31 6,437 13,777 Alberto, Drawing 2,001 12/31 6,549 6/30 11/30 8,550 Net income for the period is Oa. $33,267 Ob. $6,437 Oc. $19,490 Od. $13,777
question 4
Able Fastners Co. has a balance in its Accounts Receivable general ledger control account of S 10,000 on January 1, 2019. The subsidiary ledger contains three vendor nts: Jones Company, balance of s 3,000; Keller Company, balance of $ 1,000, arson Company. The combined subsidiary ledger account balances of Jones 4 Com om,Keller Company, and Larson Company at January 1, 2019 agree to the Accounts unts receivable general ledger control account balance at such date. During January 2019,...
please answer question 2
Problem Selected accounts from the ledger of Hughes Company appear below. For each account, indicate the following: 1. In the first column at the right, indicate the nature of each account, using the following abbreviations: (a) Revenue R Asset A Liability - L Capital/Equity- C Expense - E In the second column, indicate the increase side of each account by inserting Dr. or (b) Cг. Туре оf Account Increase Side Account Supplies Notes Receivable Fees Earned...
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