Homework Answers
Net income = $6,200
Working
| Income statement | ||
| Revenue | ||
| Service revenue | $ 8,000.00 | |
| Expenses | ||
| Salaries expense | $ 600.00 | |
| Utilities expense | $ 1,200.00 | |
| Total expenses | $ 1,800.00 | |
| Net income (loss) | $ 6,200.00 | |
Add Answer to:
View previous at 14 01:25:42 Account Cash Accounts Receivable Prepaid Insurance Supplies Accounts Payable Common Stock...
Centurion Co. had the following accounts and balances at December 31: Account Cash Accounts Receivable Prepaid...
Centurion Co. had the following accounts and balances at December 31: Account Cash Accounts Receivable Prepaid Insurance Supplies Accounts Payable T. Happy, Capital Service Revenue Salaries Expense Utilities Expense Totals Debit Credit $11,000 2,200 2,800 1,200 $ 5,500 5,500 8,000 600 1,200 $19,000 $19,000 Using the information in the table, calculate the company's reported net income for the period. Multiple Choice 0 O $1,300 0 $4,300 0 O $4,900 0 O $11.600
Cash Supplies Prepaid Insurance Land Equipment Accumulated Depreciation Equipment Accounts Payable Uneamed Service Revenue Mortgage Payable...
Cash Supplies Prepaid Insurance Land Equipment Accumulated Depreciation Equipment Accounts Payable Uneamed Service Revenue Mortgage Payable Common Stock Retained Earnings, Sept. 1, 2020 Dividends Service Revenue Salaries and Wages Expense Maintenance and Repairs Expense Advertising Expense Utilities Expenses Property Tax Expense Interest Expense Trial Balance Debit Credit 39,360 20.560 31.900 86.920 126.920 38,160 16.560 3.160 53.920 116.620 2.000 14,000 283,420 108.540 32,460 9,400 18.860 18.460 6,460 513.840 511,840 Adjusted Trial Balance Debit Credit 39,360 4,071 4,075 86.920 126,920 40.530 16,560...
prepare an adjusted trail balance Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation Accounts Payable...
prepare an adjusted trail balance
Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation Accounts Payable Salarles Payable Utilities Payable Interest Payable Notes Payable Common Stock Retained Earnings Dividends Service Revenue Salarles Expense Depreciation Expense Insurance Expense Supplies Expense Utilities Expense Interest Expense 17.000 14,000 22.000 18,000 85.000 $ 27,000 11,000 0 0 O 30,000 25.000 9,000 2.000 220.000 153,000 0 11,000 0 Totals $322.000 $322,000 Information necessary to prepare the year-end adjusting entries appears below. a. Depreciation on the...
Cash 11,000 Accounts Receivable 7,300 Prepaid Rent 2,200 Equipment 23,000 Accumulated Depreciation-Equip. 4,500 Notes Payable 5,700...
Cash 11,000 Accounts Receivable 7,300 Prepaid Rent 2,200 Equipment 23,000 Accumulated Depreciation-Equip. 4,500 Notes Payable 5,700 Accounts Payable 4,500 Common Stock 22,790 Retained Earnings 7,030 Dividends 3,600 Service Revenue 15,200 Salaries and Wages Expense 11,000 Rent Expense 900 Depreciation Expense Interest Expense Interest Payable Totals 59,750 59,750 NO. Date ACCOUNE Trues and explanation WEDNE (1) Apr. 30 (To dose revenue account) (2) Apr. 30 (To dose expense accounts) (3) Apr. 30 (To dose net income / (loss)) (4) Apr. 30...
Credit December 31, 2019 Debit Cash $3,150 Accounts Receivable 5,650 Prepaid Insurance 4,480 Equipment 42,000 Accumulated...
Credit December 31, 2019 Debit Cash $3,150 Accounts Receivable 5,650 Prepaid Insurance 4,480 Equipment 42,000 Accumulated Depreciation, Equipment Accounts Payable Salaries Payable Unearned Service Revenue Common Stock $24,000 2,800 4,450 3,875 8,000 2,255 Retained Earnings Dividends 10,500 Service Revenue 99,600 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 the closing entries for Sparrow at December 31, 2019. If an amount box does not require an entry, leave...
December 31, 2019 Debit Credit Cash $3,150 Accounts Receivable 5,650 Prepaid Insurance 4,480 Equipment 42,000 Accumulated...
December 31, 2019 Debit Credit Cash $3,150 Accounts Receivable 5,650 Prepaid Insurance 4,480 Equipment 42,000 Accumulated Depreciation, $24,000 Equipment Accounts Payable 2,800 Salaries Payable 4,450 3,875 Unearned Service Revenue Common Stock 8,000 Retained Earnings 2,255 Dividends 10,500 Service Revenue 99,600 Salaries Expense 49,400 Rent Expense 17,250 Insurance Expense 2,200 Depreciation Expense 4,950 Income Tax Expense 5,400 144,980 144,980 Totals Required: Prepare the closing entries for Sparrow at December 31, 2019. If an amount box does not require an entry, leave...
Credit Cash Accounts Receivable Debit $ 6,850 7,000 1,982 3,180 15,000 Supplies Prepaid Insurance Equipment Accounts...
Credit Cash Accounts Receivable Debit $ 6,850 7,000 1,982 3,180 15,000 Supplies Prepaid Insurance Equipment Accounts Payable Unearned Service Revenue Common Stock Service Revenue Salaries and Wages Expense Rent Expense $ 4,245 5,200 21,982 8,300 4,000 1,715 $39,727 $39,727 In addition to those accounts listed on the trial balance, the chart of accounts for Richard also contains the following accounts: Accumulated Depreciation-Equipment, Salaries and Wages Payable, Depreciation Expense, Insurance Expense, Utilities Expense, and Supplies Expense. Other data: 1. 2. 3....
Credit Debit $6,850 7.000 1,982 3,180 15,000 Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accounts Payable...
Credit Debit $6,850 7.000 1,982 3,180 15,000 Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accounts Payable Unearned Service Revenue Common Stock Service Revenue Salaries and Wages Expense Rent Expense $ 4,245 5,200 21,982 8,300 4,000 1,715 $39,727 $39,727 In addition to those accounts listed on the trial balance, the chart of accounts for Richard also contains the following accounts: Accumulated Depreciation-Equipment, Salaries and Wages Payable, Depreciation Expense, Insurance Expense, Utilities Expense, and Supplies Expense. Other data: 1. 2. 3. 4....
$ 3,500 8,500 2,500 16,90 Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Utilities Payable...
$ 3,500 8,500 2,500 16,90 Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Utilities Payable Deferred Revenue Common Stock Retained Earnings Totals $ 4,000 2,eee 3,000 13,eee 8,5ee $30,500 $30,500 The following is a summary of the transactions for the year 1. January 24 Provide plumbing services for cash, $10,000, and on account, $55,000. 2. March 13 Collect on accounts receivable, $43,000. 3. May 6 Issue shares of common stock in exchange for $12,000 cash. 4. June 30 Pay...
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....
Centurion Co. had the following accounts and balances at December 31: Account Cash Accounts Receivable Prepaid Insurance Supplies Accounts Payable T. Happy, Capital Service Revenue Salaries Expense Utilities Expense Totals Debit Credit $11,000 2,200 2,800 1,200 $ 5,500 5,500 8,000 600 1,200 $19,000 $19,000 Using the information in the table, calculate the company's reported net income for the period. Multiple Choice 0 O $1,300 0 $4,300 0 O $4,900 0 O $11.600
Cash Supplies Prepaid Insurance Land Equipment Accumulated Depreciation Equipment Accounts Payable Uneamed Service Revenue Mortgage Payable Common Stock Retained Earnings, Sept. 1, 2020 Dividends Service Revenue Salaries and Wages Expense Maintenance and Repairs Expense Advertising Expense Utilities Expenses Property Tax Expense Interest Expense Trial Balance Debit Credit 39,360 20.560 31.900 86.920 126.920 38,160 16.560 3.160 53.920 116.620 2.000 14,000 283,420 108.540 32,460 9,400 18.860 18.460 6,460 513.840 511,840 Adjusted Trial Balance Debit Credit 39,360 4,071 4,075 86.920 126,920 40.530 16,560...
prepare an adjusted trail balance
Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation Accounts Payable Salarles Payable Utilities Payable Interest Payable Notes Payable Common Stock Retained Earnings Dividends Service Revenue Salarles Expense Depreciation Expense Insurance Expense Supplies Expense Utilities Expense Interest Expense 17.000 14,000 22.000 18,000 85.000 $ 27,000 11,000 0 0 O 30,000 25.000 9,000 2.000 220.000 153,000 0 11,000 0 Totals $322.000 $322,000 Information necessary to prepare the year-end adjusting entries appears below. a. Depreciation on the...
Cash 11,000 Accounts Receivable 7,300 Prepaid Rent 2,200 Equipment 23,000 Accumulated Depreciation-Equip. 4,500 Notes Payable 5,700 Accounts Payable 4,500 Common Stock 22,790 Retained Earnings 7,030 Dividends 3,600 Service Revenue 15,200 Salaries and Wages Expense 11,000 Rent Expense 900 Depreciation Expense Interest Expense Interest Payable Totals 59,750 59,750 NO. Date ACCOUNE Trues and explanation WEDNE (1) Apr. 30 (To dose revenue account) (2) Apr. 30 (To dose expense accounts) (3) Apr. 30 (To dose net income / (loss)) (4) Apr. 30...
Credit December 31, 2019 Debit Cash $3,150 Accounts Receivable 5,650 Prepaid Insurance 4,480 Equipment 42,000 Accumulated Depreciation, Equipment Accounts Payable Salaries Payable Unearned Service Revenue Common Stock $24,000 2,800 4,450 3,875 8,000 2,255 Retained Earnings Dividends 10,500 Service Revenue 99,600 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 the closing entries for Sparrow at December 31, 2019. If an amount box does not require an entry, leave...
December 31, 2019 Debit Credit Cash $3,150 Accounts Receivable 5,650 Prepaid Insurance 4,480 Equipment 42,000 Accumulated Depreciation, $24,000 Equipment Accounts Payable 2,800 Salaries Payable 4,450 3,875 Unearned Service Revenue Common Stock 8,000 Retained Earnings 2,255 Dividends 10,500 Service Revenue 99,600 Salaries Expense 49,400 Rent Expense 17,250 Insurance Expense 2,200 Depreciation Expense 4,950 Income Tax Expense 5,400 144,980 144,980 Totals Required: Prepare the closing entries for Sparrow at December 31, 2019. If an amount box does not require an entry, leave...
Credit Cash Accounts Receivable Debit $ 6,850 7,000 1,982 3,180 15,000 Supplies Prepaid Insurance Equipment Accounts Payable Unearned Service Revenue Common Stock Service Revenue Salaries and Wages Expense Rent Expense $ 4,245 5,200 21,982 8,300 4,000 1,715 $39,727 $39,727 In addition to those accounts listed on the trial balance, the chart of accounts for Richard also contains the following accounts: Accumulated Depreciation-Equipment, Salaries and Wages Payable, Depreciation Expense, Insurance Expense, Utilities Expense, and Supplies Expense. Other data: 1. 2. 3....
Credit Debit $6,850 7.000 1,982 3,180 15,000 Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accounts Payable Unearned Service Revenue Common Stock Service Revenue Salaries and Wages Expense Rent Expense $ 4,245 5,200 21,982 8,300 4,000 1,715 $39,727 $39,727 In addition to those accounts listed on the trial balance, the chart of accounts for Richard also contains the following accounts: Accumulated Depreciation-Equipment, Salaries and Wages Payable, Depreciation Expense, Insurance Expense, Utilities Expense, and Supplies Expense. Other data: 1. 2. 3. 4....
$ 3,500 8,500 2,500 16,90 Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Utilities Payable Deferred Revenue Common Stock Retained Earnings Totals $ 4,000 2,eee 3,000 13,eee 8,5ee $30,500 $30,500 The following is a summary of the transactions for the year 1. January 24 Provide plumbing services for cash, $10,000, and on account, $55,000. 2. March 13 Collect on accounts receivable, $43,000. 3. May 6 Issue shares of common stock in exchange for $12,000 cash. 4. June 30 Pay...
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....
Most questions answered within 3 hours.
-
Assume Kw = 1.01 ✕ 10−14
For pure water, we can calculate [H3O+ ] = [OH...
asked 10 minutes ago -
Suppose that on a temperature scale X, water boils at 203.0°X
and freezes at -105.7°X. What...
asked 1 hour ago -
BaS crystallizes in a cubic unit cell with S2- ions on each
corner and each face....
asked 1 hour 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 3 hours ago -
A battery has an emf of 9.20V and an internal resistance of 1.20
ohm. a)What resistance...
asked 3 hours ago -
The area of an elastic circular loop decreases at a constant
rate, dA/dt = −6.60×10−3 m2/s...
asked 4 hours ago -
The denaturation of proteins can be described by the
equilibrium
F⇌U
where F and U represent...
asked 5 hours ago -
Please answer what the maximum and minimum force is, and the
angle on the ion is...
asked 5 hours ago -
implement a program that reads a number of rows and a symbol.
The program will draw...
asked 5 hours ago -
Assume that when adults with smartphones are randomly selected,
45% use them in meetings or classes....
asked 5 hours ago -
Determine the number of formula units of
Na2SO4 and moles of oxygen contained in 8.11
moles...
asked 6 hours ago -
Explain in steps on the following code
What would be the output when executed
using System;...
asked 6 hours ago