I need help with 1-4 I Use the following to answer questions 1 - 4 A...
Use the following to answer questions 1-4 A company maintains its records using accrual basis accounting; however, their accountant wants to create a statement of cash flows and needs to determine the cash flow from operating activities. For simplicity, we assume only one expense account (salaries). The following is data gathered from their records. Services provided to customers during the period Salaries expense for the period Accounts receivable (beginning balance) Accounts receivable (ending balance) Salaries payable beginning balance) Salaries pavable...
just want to see what im doing wrong for some of these questions JUULI YUUF SWUPS IR Canvas Delore it is due Use the following to answer questions 1-4 A company maintains its records using accrual basis accounting: however, their accountant wants to create a statement of cash flows and needs to determine the cash flow from operating activities. For simplicity, we assume only one expense account (salaries). The following is data gathered from their records. Services provided to customers...
7000 Chapter 3 Homework Submit your answers in Canvas before it is due 513,000 142 on Use the following to answer questions 1-4 44,000 A company maintains its records using accrual basis accounting: however, their accountant wants to create a statement of cash flows and needs to determine the cash flow from operating activities. For simplicity, we assume only one expense account salaries). The following is data gathered from their records. SZE A /R $700,000 500.000 32,000 500,000 Services provided...
I need help with 21 -27 Use the following to answer questions 21– 27 LIABILITIES & INCOME STATEMENT ASSETS STOCKHOLDERS' EQUITY F. Accounts Payable G. Salaries Payable ACCOUNTS A. Cash K. Service Revenue L. Advertising expense B. Accounts Receivable C. Supplies D. Prepaid advertising E. Equipment H. Deferred revenue M. Rent Expense N. Salaries/Wage expense O. Utilities expense I. Notes Payable J. Retained Earnings February 1st transaction is completed as an example: Only include the letter of the account not...
Use the following to answer questions 10-13 Indicate which of the following accounts should be debited and which should be credited. An example has been provided (ex). Purchase Office Supplies in exchange for cash Debit : N (Supplies) Credit: C (Cash)...See below. Only include the letter of the account not the account name. A Accounts payable B. Accounts receivable C Cash D. Common stock E. Dividends F. Equipment G. Notes payable H. Prepaid rent L. Rent expense J. Retained earnings...
Required information [The following information applies to the questions displayed below.] Leach Inc. experienced the following events for the first two years of its operations: 2018: 1. Issued $10,000 of common stock for cash. 2. Provided $100,000 of services on account. 3. Provided $27,000 of services and received cash. 4. Collected $73,000 cash from accounts receivable. 5. Paid $18,000 of salaries expense for the year. 6. Adjusted the accounting records to reflect uncollectible accounts expense for the year. Leach estimates...
I need help with 28-31 Use the following to answer questions 28 - 35 TR Corporation has provided their trial balance at the end of January. Credits Debits $50,000 65,000 1,000 3,500 985,000 $12,000 35,000 4,500 19,000 250,000 500,000 Cash Accounts receivable Supplies Prepaid expenses | Buildings/Equipment, net Accounts payable Income tax payable Utilities payable Deferred revenue Notes payable Common stock Retained Earnings Dividends Service revenue Salaries expense Insurance expense Advertising expense Supplies expense Depreciation expense Rent expense Utilities expense...
I need somebody to help complete this table. Please help me by showing the work good, so I can know were to put the numbers. Ko Questions 2-7 (of 7) The following information applies to the questions displayed below At the beginning of 2016, Oak Consulting had the following normal balances in its accounts: Account Cash Accounts receivable25,000 Accounts payable Common stock Retained earnings Balance $42,000 8,400 24,000 34,600 The following events apply to Oak's Consulting for 2016 1. Provided...
I need help with 14 - 20 Use the following to answer questions 14-20 Post each transaction to the T-accounts below and compute the ending balances of each account. The balances at the beginning of the day are shown in the T accounts. NOTE: The accounts are only a partial listing of the company's Chart of Accounts Recorded transactions to be posted: Credit Credit Debit 10,000 Debit 1,000 1 10,000 1,000 Accounts receivable Service revenue Office Supplies Cash Deferred revenue...
The following information applies to the questions displayed below.]Leach Inc. experienced the following events for the first two years of its operations: Year 1:Issued $12,000 of common stock for cash.Provided $80,200 of services on account.Provided $38,000 of services and received cash.Collected $71,000 cash from accounts receivable.Paid $40,000 of salaries expense for the year.Adjusted the accounting records to reflect uncollectible accounts expense for the year. Leach estimates that 5 percent of the ending accounts receivable balance will be uncollectible.Closed the revenue account.Closed...