Homework Answers
Correct answer-----------(c ) $25,600
Working
| Income statement | ||
| Service revenue | $ 82,400.00 | |
| Less: Expenses | ||
| Salaries expense | $ 34,000.00 | |
| Rent expense | $ 15,000.00 | |
| Truck expense | $ 5,800.00 | |
| Office expense | $ 2,000.00 | |
| Total expense | $ 56,800.00 | |
| Net income | $ 25,600.00 | |
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Donaldson's Delivery Company began operations on January 1, 2019. The following Trial Balance was prepared on...
Donaldson's Delivery Company began operations on January 1, 2019. The following Trial Balance was prepared on...
Donaldson's Delivery Company began operations on January 1, 2019. The following Trial Balance was prepared on December 31, 2019. Donaldson's Delivery Service Company Trial Balance December 31, 2019 Account Title Credit Cash Accounts Receivable Prepaid Rent Office Supplies Land Debit $15,500 8,000 2,400 1,400 25,000 32,000 23,000 Building Equipment Accounts Payable Unearned Revenue Notes Payable Common Stock Dividends Service Revenue Salaries Expense Rent Expense $10,400 2,500 20,000 59.000 6,800 78,400 34,000 15,000 20,000 59,000 6,800 78,400 Notes Payable Common Stock...
Randall's Service Company began operations on January 1, 2019. The following Trial Balance was prepared on...
Randall's Service Company began operations on January 1, 2019. The following Trial Balance was prepared on December 31, 2019. Capital contributions during the year were $54,000. Randall's Service Company Trial Balance December 31, 2019 Account Title Debit Credit Cash $25,400 Accounts Receivable 5,000 Prepaid Rent 1,200 Office Supplies 3,400 Land 45,000 Building 16,500 Equipment 23,000 Accounts Payable $15,000 Unearned Revenue 5,000 Notes Payable 25,000 Common Stock 54,000 Dividends 6,300 Service Revenue 83,100 Salaries Expense 34,000 Rent Expense 15,000 Office Expense...
1. An inexperience bookkeeper prepared the following trial balance. Prepared a correct trial balance, assuming all...
1. An inexperience bookkeeper prepared the following trial balance. Prepared a correct trial balance, assuming all account balances are normal. Erica Company Trial balance December 31, 2019. debit credit Cash $ 16, 800 Prepaid Insurance $3500 Account Payable 3000 Unearned Service Revenue 4200 Common Stock 13,000 Dividends 4,500 Service Revenue 25,600 Salaries and Wages Expense 18, 600 Rent Expense 2, 400 ___________ ________ $39, 600 $ 52, 000
What us the net income for the year ended 31, Dec. 2019 Deli Company began operations...
What us the net income for the year ended 31, Dec.
2019
Deli Company began operations on January 1, 2019. The following Trial Balance was prepared on December 31, 2019: Credit Account Title Debit Cash $15,500 Accounts Receivable 8,000 Prepaid Rent 2,400 Office Supplies 1,400 Land 25,000 Building 32.000 Equipment 23,000 Accounts Payable Unearned Revenue Notes Payable Donaldson, Capital Donaldson, Withdrawals 6,400 $10,400 2,500 20,000 57.000 Service Revenue 83.900 28,000 18.000 Salaries Expense Rent Expense Truck Expense Office Expense Total...
aldson's Delivery Company began p on December 31, 2010 o ny Donald 1. 2018 The 's...
aldson's Delivery Company began p on December 31, 2010 o ny Donald 1. 2018 The 's Delivery Service Company Talance December 31, 2010 Cr De $15.50 8.000 2.400 1.400 25,000 32.000 23,000 Account Title Cash Accounts Receivable Prepaid Rent Office Supplies Land Building Equipment Accounts Payable Uneared Revenue Notes Payable Donaldson, Capital Donaldson, Withdrawals Service Revenue Salaries Expense Rent Expense Truck Expense Office Expense 10.400 2.500 20.000 57.000 6,400 83.900 28.000 18.000 12.400 1,700 $173,800 Total $173,800 What is the...
Complete the Adjusted Trial Balance as of December 31, 2016 using the given information. Enter accounts...
Complete the Adjusted Trial Balance as of December 31, 2016 using the given information. Enter accounts in order of assets, liabilities, common stock, dividends, revenues, and expenses. Assume all accounts have normal balances. Accounts Payable 11,240 SMART TOUCH LEARNING Accounts Receivable 7,020 Accumulated Depreciation--Furniture 12,640 Adjusted Trial Balance December 31, 2016 Cash 30,910 120,860 Balance Credit Common Stock Cost of Goods Sold Account Title Furniture Debit 50,590 4,210 Depreciation Expense--Furniture Accounts Receivable 7,020 16,860 25,290 Dividends Accumulated Depreciation V 12,640...
Sparrow Company had the following adjusted trial balance at December 31, 2019. Sparrow Company Adjusted Trial...
Sparrow Company had the following adjusted trial balance at December 31, 2019. Sparrow Company Adjusted Trial Balance December 31, 2019 Debit Credit $3,150 5,650 4,480 42,000 $24,000 Cash Accounts Receivable Prepaid Insurance Equipment Accumulated Depreciation, Equipment Accounts Payable Salaries Payable Unearned Service Revenue Common Stock Retained Earnings 2,800 4,450 3,875 8,000 2,255 Dividends 10,500 99,600 Service Revenue 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 a single-step...
An inexperienced bookkeeper prepared the following trial balance. Sheffield Corp. Prepare a trial balance. December 31,...
An inexperienced bookkeeper prepared the following trial balance. Sheffield Corp. Prepare a trial balance. December 31, 2019 Debit Credit Cash $19,500 Prepaid Insurance $1,950 Accounts Payable 4,150 Unearned Service Revenue 5,350 Common Stock 15,700 Dividends 5,650 Service Revenue 28.300 Salaries and Wages Expense 21,300 Rent Expense 5.100 $46,150 $60,850 Prepare a correct trial balance, assuming all account balances are normal.
Sparrow Company had the following adjusted trial balance at December 31, 2019. Sparrow Company Adjusted Trial...
Sparrow Company had the following adjusted trial balance at December 31, 2019. Sparrow Company Adjusted Trial Balance December 31, 2019 Debit Credit $3,150 Cash Accounts Receivable 5,650 Prepaid Insurance 4,480 Equipment 42,000 Accumulated Depreciation, $24,000 Equipment Accounts Payable 2,800 Salaries Payable 4,450 Unearned Service Revenue 3,875 Common Stock 8,000 Retained Earnings 2,255 10,500 Dividends 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 Totals 144,980 144,980 Required: Prepare a single-step...
Preparing a Balance Sheet Sparrow Company had the following adjusted trial balance at December 31, 2019....
Preparing a Balance Sheet Sparrow Company had the following adjusted trial balance at December 31, 2019. Sparrow Company Adjusted Trial Balance December 31, 2019 Debit Credit Cash $3,350 5,650 4,480 42,000 $24,000 3,000 4,450 3,875 8,000 Accounts Receivable Prepaid Insurance Equipment Accumulated Depreciation, Equipment Accounts Payable Salaries Payable Unearned Service Revenue Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Rent Expense Insurance Expense Depreciation Expense Income Taxes Expense 2,255 10,500 99,600 49,400 17,250 2,200 4,950 5,400 Totals $145,180 $145,180...
Donaldson's Delivery Company began operations on January 1, 2019. The following Trial Balance was prepared on December 31, 2019. Donaldson's Delivery Service Company Trial Balance December 31, 2019 Account Title Credit Cash Accounts Receivable Prepaid Rent Office Supplies Land Debit $15,500 8,000 2,400 1,400 25,000 32,000 23,000 Building Equipment Accounts Payable Unearned Revenue Notes Payable Common Stock Dividends Service Revenue Salaries Expense Rent Expense $10,400 2,500 20,000 59.000 6,800 78,400 34,000 15,000 20,000 59,000 6,800 78,400 Notes Payable Common Stock...
What us the net income for the year ended 31, Dec.
2019
Deli Company began operations on January 1, 2019. The following Trial Balance was prepared on December 31, 2019: Credit Account Title Debit Cash $15,500 Accounts Receivable 8,000 Prepaid Rent 2,400 Office Supplies 1,400 Land 25,000 Building 32.000 Equipment 23,000 Accounts Payable Unearned Revenue Notes Payable Donaldson, Capital Donaldson, Withdrawals 6,400 $10,400 2,500 20,000 57.000 Service Revenue 83.900 28,000 18.000 Salaries Expense Rent Expense Truck Expense Office Expense Total...
aldson's Delivery Company began p on December 31, 2010 o ny Donald 1. 2018 The 's Delivery Service Company Talance December 31, 2010 Cr De $15.50 8.000 2.400 1.400 25,000 32.000 23,000 Account Title Cash Accounts Receivable Prepaid Rent Office Supplies Land Building Equipment Accounts Payable Uneared Revenue Notes Payable Donaldson, Capital Donaldson, Withdrawals Service Revenue Salaries Expense Rent Expense Truck Expense Office Expense 10.400 2.500 20.000 57.000 6,400 83.900 28.000 18.000 12.400 1,700 $173,800 Total $173,800 What is the...
Complete the Adjusted Trial Balance as of December 31, 2016 using the given information. Enter accounts in order of assets, liabilities, common stock, dividends, revenues, and expenses. Assume all accounts have normal balances. Accounts Payable 11,240 SMART TOUCH LEARNING Accounts Receivable 7,020 Accumulated Depreciation--Furniture 12,640 Adjusted Trial Balance December 31, 2016 Cash 30,910 120,860 Balance Credit Common Stock Cost of Goods Sold Account Title Furniture Debit 50,590 4,210 Depreciation Expense--Furniture Accounts Receivable 7,020 16,860 25,290 Dividends Accumulated Depreciation V 12,640...
Sparrow Company had the following adjusted trial balance at December 31, 2019. Sparrow Company Adjusted Trial Balance December 31, 2019 Debit Credit $3,150 5,650 4,480 42,000 $24,000 Cash Accounts Receivable Prepaid Insurance Equipment Accumulated Depreciation, Equipment Accounts Payable Salaries Payable Unearned Service Revenue Common Stock Retained Earnings 2,800 4,450 3,875 8,000 2,255 Dividends 10,500 99,600 Service Revenue 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 a single-step...
An inexperienced bookkeeper prepared the following trial balance. Sheffield Corp. Prepare a trial balance. December 31, 2019 Debit Credit Cash $19,500 Prepaid Insurance $1,950 Accounts Payable 4,150 Unearned Service Revenue 5,350 Common Stock 15,700 Dividends 5,650 Service Revenue 28.300 Salaries and Wages Expense 21,300 Rent Expense 5.100 $46,150 $60,850 Prepare a correct trial balance, assuming all account balances are normal.
Sparrow Company had the following adjusted trial balance at December 31, 2019. Sparrow Company Adjusted Trial Balance December 31, 2019 Debit Credit $3,150 Cash Accounts Receivable 5,650 Prepaid Insurance 4,480 Equipment 42,000 Accumulated Depreciation, $24,000 Equipment Accounts Payable 2,800 Salaries Payable 4,450 Unearned Service Revenue 3,875 Common Stock 8,000 Retained Earnings 2,255 10,500 Dividends 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 Totals 144,980 144,980 Required: Prepare a single-step...
Preparing a Balance Sheet Sparrow Company had the following adjusted trial balance at December 31, 2019. Sparrow Company Adjusted Trial Balance December 31, 2019 Debit Credit Cash $3,350 5,650 4,480 42,000 $24,000 3,000 4,450 3,875 8,000 Accounts Receivable Prepaid Insurance Equipment Accumulated Depreciation, Equipment Accounts Payable Salaries Payable Unearned Service Revenue Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Rent Expense Insurance Expense Depreciation Expense Income Taxes Expense 2,255 10,500 99,600 49,400 17,250 2,200 4,950 5,400 Totals $145,180 $145,180...
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