Homework Answers
Answer
- All working forms part of the answer
- Correct Trial balance is provided, along with incorrect one and corrections made to those incorrect balances.
|
Incorrect Trial Balance |
Corrections effect |
Correct Trial Balance |
||||
|
Debit |
Credit |
Debited by |
Credited by |
Debit |
Credit |
|
|
Cash |
$14,800 |
$700 ‘a’ |
$15,500 |
|||
|
Accounts receivables |
$13,400 |
$700 ‘a’ |
$12,700 |
|||
|
Inventory |
$17,300 |
$17,300 |
||||
|
Supplies |
$300 |
$300 |
||||
|
Land |
$53,000 |
$53,000 |
||||
|
Accounts Payable |
$11,700 |
$2,350 [2000-200 ‘b’] + [550 ‘c’] |
$14,050 |
|||
|
Common Stock |
$47,900 |
$400 ‘d’ |
$48,300 |
|||
|
Sales revenue |
$44,300 |
$44,300 |
||||
|
Salary Expense |
$1,800 |
$1,800 |
||||
|
Rent Expense |
$1,300 |
$1,300 |
||||
|
Utilities expense |
$1,100 |
$550 ‘c’ |
$1,650 |
|||
|
Insurance expense |
$0 |
$3,100 ‘e’ |
$3,100 |
|||
|
Total |
$103,000 |
$103,900 |
$4,350 |
$3,450 |
$106,650 |
$106,650 |
Add Answer to:
Data Table Cash... Accounts receivable. .. Inventory Supplies . Land Accounts payable . Common stock Sales...
13 seconds. Status: Trial Balance wash Accounts Receivable Supplies Land Accounts Payable Wages Payable Common Stock...
13 seconds. Status: Trial Balance wash Accounts Receivable Supplies Land Accounts Payable Wages Payable Common Stock Retained Earnings Dividends Fees Earned Wages Expense Rent Expense 10000 20000 5000 37000 11000 3000 44000 7000 15000 35000 6000 7000 100000 100000 === ======== == What are the total assets? $35,000 $72,000 $116,000 Click Save and Submit to save and submit. Click Save All A QUESTION 10 I bou ght office supplies on account. How do I record that? a. Office Supplies, debit:...
Accounts payable Accounts receivable Accumulated depreciation, equipment Cash Common stock Depreciation expense, equipment Dividends Equipment Insurance...
Accounts payable Accounts receivable Accumulated depreciation, equipment Cash Common stock Depreciation expense, equipment Dividends Equipment Insurance expense Prepaid insurance Retained earnings Salaries expense Salaries payable Service revenue Supplies Supplies expense Unearned service revenue Utilities expense Data Table The trial balanoe of Lusch Landscaping, Ina, at June 3D, 2016, and the data nended for the month-end adjustments fallaw EEE (Click the icon to view the trial balance.) Read the requ rements (Cick the icon to view the adjustment data.) Lusch Landscaping....
Account Balance Account Balance Dividends. ..................$ 3,100 Common stock......... S 17,100 Utilities expense 1,500 Accounts payable...
Account Balance Account Balance Dividends. ..................$ 3,100 Common stock......... S 17,100 Utilities expense 1,500 Accounts payable 4,300 Accounts receivable 6,000 Service revenue 20,900 Delivery expense 500 Equipment 29,200 Retained earnings.... 5,800 Note payable 20,000 Salary expense 8,800 Cash 19,000 Trial Balance April 30, 2018 Account Cash Accounts receivable Equipment Accounts payable Note payable Common stock Retained earnings Dividends Service revenue Balance Debit Credit 19,000 6,000 29,200 4,300 20,000 17,100 5,800 3,100 20,900 Salary expense Utilities expense 8,800 1,500 500 Delivery...
OOptions for T-charts are: cash, accts recieveable, supplies, land, accts payable, notes payable, common stock, retained...
OOptions for T-charts are:
cash, accts recieveable, supplies, land, accts payable, notes
payable, common stock, retained earnings, dividends, service rev,
rent expense, salaries expense, advertising expense, utilities
expense
Pirates Incorporated had the following balances at the beginning of September. Credits PIRATES INCORPORATED Trial Balance September 1 Accounts Debits Cash $ 5,800 Accounts Receivable 1,800 Supplies 6,900 Land 10,500 Accounts Payable Notes Payable Common Stock Retained Earnings Totals $25,000 $ 6,800 2,300 8,300 7,600 $25,000 The following transactions occur in September....
Account Accounts payable Retained earnings Supplies expense Furniture Utility expense Cash Common stock Notes payable Rent...
Account Accounts payable Retained earnings Supplies expense Furniture Utility expense Cash Common stock Notes payable Rent expense Sales revenue Advertising expense Land Wage expense Dividends Prepaid expense Equipment Accounts receivable Balance $16,000 14,800 27,100 1,900 234.000 18.600 300,200 29,700 26,000 84,000 7,300 12,300 47,000 23,600 18,000 14,200 14,700 Required: Prepare the trial balance for LILI Corporation as of September 30, 20x1 in the order suggested in the text.
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.
All Assig Questio 2 $6,905 $1,700 Cash Supplies Accounts Payable Accounts Receivable $1,800 Common Stock Retained...
All Assig Questio 2 $6,905 $1,700 Cash Supplies Accounts Payable Accounts Receivable $1,800 Common Stock Retained Earnings $2,000 Dividends Revenue Rent Expense Supplies Expense $2,600 Salary Expense Using the information above, prepare the Income Statement $2,400 $1,600 $995 $11,500 $2,100 $1,400 ncome Statement Total Expenses Net Income Question Cash Supplies Accounts Payable Accounts Receivable Common Stock Retained Earnings Dividends Revenue Rent Expense $3,066 $2,300 $2,500 $2,000 $1,200 $2,200 $4,834 $11,400 $1,900 $1,500 $1.700 Expense Salary Expense Income Statement $11400 $1900...
The trial balance of Addison, Inc., at September 30, 2018, does not balar (Click the icon...
The trial balance of Addison, Inc., at September 30, 2018, does not balar (Click the icon to view the trial balance.) Addison, Inc. Trial Balance September 30, 2018 Balance Account Debit Credit Cash Accounts receivable Inventory Supplies Land Accounts payable Common stock Sales revenue Insurance expense Salary expense Rent expense Utilities expense Total Enter any number in the edit fields and then click Check Answer. i Data Table Cash ... $ Accounts receivable 14,100 12,700 .... 16,900 800 Inventory Supplies...
Cash Dividends Account Title Accounts receivable Office supplies Trucks Accumulated depreciation-Trucks Land Land Accounts payable Interest...
Cash Dividends Account Title Accounts receivable Office supplies Trucks Accumulated depreciation-Trucks Land Land Accounts payable Interest payable Long-term notes payable Common stock Retained earnings Trucking fees earned Depreciation expense-Trucks Salaries expense Office supplies expense Repairs expense-Trucks Totals Debit Credit $ 6,800 18,000 8,113 170,000 $ 35,020 48,000 10,800 4,000 35,000 48,544 140,000 38,000 130,000 22,588 69,178 10,000 12,685 $ 403,364 $403,364 Use the above adjusted trial balance to prepare Wilson Trucking Company's classified balance sheet as of December 31. WILSON...
Accounts Debits Credits Cash $42,500 Accounts Receivable 25,800 Land 115,800 Accounts Payable 15,100 Notes Payable 30,500...
Accounts Debits Credits Cash $42,500 Accounts Receivable 25,800 Land 115,800 Accounts Payable 15,100 Notes Payable 30,500 Common Stock 100,000 Retained Earnings 38,500 Totals $184,100 $184,100 The following is a summary of the transactions for the year: a. Provide services to customers on account, $63,400. b. Provide services to customers for cash, $75,800. c. Collect on accounts receivable, $45,600. d. Issue shares of common stock in exchange for $32,000 cash. e. Purchase supplies on account, $12,700. f. Pay on accounts...
13 seconds. Status: Trial Balance wash Accounts Receivable Supplies Land Accounts Payable Wages Payable Common Stock Retained Earnings Dividends Fees Earned Wages Expense Rent Expense 10000 20000 5000 37000 11000 3000 44000 7000 15000 35000 6000 7000 100000 100000 === ======== == What are the total assets? $35,000 $72,000 $116,000 Click Save and Submit to save and submit. Click Save All A QUESTION 10 I bou ght office supplies on account. How do I record that? a. Office Supplies, debit:...
Accounts payable Accounts receivable Accumulated depreciation, equipment Cash Common stock Depreciation expense, equipment Dividends Equipment Insurance expense Prepaid insurance Retained earnings Salaries expense Salaries payable Service revenue Supplies Supplies expense Unearned service revenue Utilities expense Data Table The trial balanoe of Lusch Landscaping, Ina, at June 3D, 2016, and the data nended for the month-end adjustments fallaw EEE (Click the icon to view the trial balance.) Read the requ rements (Cick the icon to view the adjustment data.) Lusch Landscaping....
Account Balance Account Balance Dividends. ..................$ 3,100 Common stock......... S 17,100 Utilities expense 1,500 Accounts payable 4,300 Accounts receivable 6,000 Service revenue 20,900 Delivery expense 500 Equipment 29,200 Retained earnings.... 5,800 Note payable 20,000 Salary expense 8,800 Cash 19,000 Trial Balance April 30, 2018 Account Cash Accounts receivable Equipment Accounts payable Note payable Common stock Retained earnings Dividends Service revenue Balance Debit Credit 19,000 6,000 29,200 4,300 20,000 17,100 5,800 3,100 20,900 Salary expense Utilities expense 8,800 1,500 500 Delivery...
OOptions for T-charts are:
cash, accts recieveable, supplies, land, accts payable, notes
payable, common stock, retained earnings, dividends, service rev,
rent expense, salaries expense, advertising expense, utilities
expense
Pirates Incorporated had the following balances at the beginning of September. Credits PIRATES INCORPORATED Trial Balance September 1 Accounts Debits Cash $ 5,800 Accounts Receivable 1,800 Supplies 6,900 Land 10,500 Accounts Payable Notes Payable Common Stock Retained Earnings Totals $25,000 $ 6,800 2,300 8,300 7,600 $25,000 The following transactions occur in September....
Account Accounts payable Retained earnings Supplies expense Furniture Utility expense Cash Common stock Notes payable Rent expense Sales revenue Advertising expense Land Wage expense Dividends Prepaid expense Equipment Accounts receivable Balance $16,000 14,800 27,100 1,900 234.000 18.600 300,200 29,700 26,000 84,000 7,300 12,300 47,000 23,600 18,000 14,200 14,700 Required: Prepare the trial balance for LILI Corporation as of September 30, 20x1 in the order suggested in the text.
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.
All Assig Questio 2 $6,905 $1,700 Cash Supplies Accounts Payable Accounts Receivable $1,800 Common Stock Retained Earnings $2,000 Dividends Revenue Rent Expense Supplies Expense $2,600 Salary Expense Using the information above, prepare the Income Statement $2,400 $1,600 $995 $11,500 $2,100 $1,400 ncome Statement Total Expenses Net Income Question Cash Supplies Accounts Payable Accounts Receivable Common Stock Retained Earnings Dividends Revenue Rent Expense $3,066 $2,300 $2,500 $2,000 $1,200 $2,200 $4,834 $11,400 $1,900 $1,500 $1.700 Expense Salary Expense Income Statement $11400 $1900...
The trial balance of Addison, Inc., at September 30, 2018, does not balar (Click the icon to view the trial balance.) Addison, Inc. Trial Balance September 30, 2018 Balance Account Debit Credit Cash Accounts receivable Inventory Supplies Land Accounts payable Common stock Sales revenue Insurance expense Salary expense Rent expense Utilities expense Total Enter any number in the edit fields and then click Check Answer. i Data Table Cash ... $ Accounts receivable 14,100 12,700 .... 16,900 800 Inventory Supplies...
Cash Dividends Account Title Accounts receivable Office supplies Trucks Accumulated depreciation-Trucks Land Land Accounts payable Interest payable Long-term notes payable Common stock Retained earnings Trucking fees earned Depreciation expense-Trucks Salaries expense Office supplies expense Repairs expense-Trucks Totals Debit Credit $ 6,800 18,000 8,113 170,000 $ 35,020 48,000 10,800 4,000 35,000 48,544 140,000 38,000 130,000 22,588 69,178 10,000 12,685 $ 403,364 $403,364 Use the above adjusted trial balance to prepare Wilson Trucking Company's classified balance sheet as of December 31. WILSON...
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