Homework Answers
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HELP TODAY |
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Balance Sheet |
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As of August 31 |
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Asset |
Liabilities |
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Cash |
$25270 |
Common Stock |
$101000 |
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Account Receivable |
$22280 |
Retained Earnings |
$4850 |
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Office Supplies |
$5150 |
Account Payable |
$10700 |
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Land |
$43940 |
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Office Equipment |
$19910 |
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$116550 |
$116550 |
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Workings:
Retained Earnings:
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Particulars |
Amount($) |
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Consulting fee earned |
26920 |
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Rent expense |
(9460) |
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Salaries expense |
(5510) |
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Telephone expense |
(760) |
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Miscellaneous expense |
(430) |
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Dividends |
(5910) |
|
Retained earnings |
4850 |
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Cash Accounts receivable Office supplies Land Office equipment Accounts payable Dividends s 25,270 Consulting fees earned...
Cash Accounts receivable Office supplies Land Office equipment Accounts payable Dividends 25,270 Consulting fees earned 22,280...
Cash Accounts receivable Office supplies Land Office equipment Accounts payable Dividends 25,270 Consulting fees earned 22,280 Rent expense 5,150 Salaries expense 43,940 Telephone expense 19,910 Miscellaneous expenses 10,700 Common stock s26,920 9,460 5,510 760 430 101,000 5,910 Exercise 2-17 Preparing a statement of retained earnings LO P3 Use the above information to prepare an August statement of retained earnings for Help Today. (H $10,760.) HELP TODAY Statement of Retained Earnings 0
Cash Accounts receivable office supplies Land Office equipment Accounts payable Dividends s 25,270 Consulting fees earned...
Cash Accounts receivable office supplies Land Office equipment Accounts payable Dividends s 25,270 Consulting fees earned 26,92 9,460 5,510 760 430 101,800 22,280 Rent expense 5,150 Salaries expense 43,940 Telephone expense 19,910 Miscel laneous expenses 10,780 Common stock 5,918 Exercise 2-16 Preparing an income statement LO C3, P3 Use the above information to prepare an August income statement for the business HELP TODAY Income Statement here to search ax We were unable to transcribe this image
Carmen Camry operates a consulting firm called Help Today, which began operations on August 1. On...
Carmen Camry operates a consulting firm called Help Today, which began operations on August 1. On August 31, the company's records show the following accounts and amounts for the month of August. Cash Accounts receivable Office supplies Land Office equipment Accounts payable Dividends $ 25, 270 Consulting fees earned 22,280 Rent expense 5,150 Salaries expense 43,940 Telephone expense 19,910 Miscellaneous expenses 10,700 Common stock 5,910 $ 26,920 9,460 5,510 760 430 101,000 Use the above information to prepare an August...
Required information [The following information applies to the questions displayed below.] Carmen Camry operates a consulting...
Required information [The following information applies to the questions displayed below.] Carmen Camry operates a consulting firm called Help Today, which began operations on August 1. On August 31, the company's records show the following accounts and amounts for the month of August. Cash Accounts receivable office supplies Land Office equipment Accounts payable $ 25, 270 C. Camry, withdrawals 22,280 Consulting fees earned 5,150 Rent expense 43,940 Salaries expense 19,910 Telephone expense 10,700 Miscellaneous expenses $ 5,910 26,920 9, 460...
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...
Account Title Cash Accounts receivable Office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable Interest payable Long-term...
Account Title Cash Accounts receivable Office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable Interest payable Long-term notes payable K. Wilson, Capital K. Wilson, Withdrawals Trucking fees earned Depreciation expense-Trucks Salaries expense Office supplies expense Repairs expense-Trucks Totals Debit Credit $ 9,000 10,000 6,490 181,000 $ 37,286 42,000 13,000 8,000 61,000 122,743 14,000 123,000 24,049 55,342 13,000 10,148 $365,029 $ 365,029 Use the above adjusted trial balance to prepare Wilson Trucking Company's classified balance sheet as of December 31, 2017 WILSON...
Account Title Cash Accounts receivable Office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable Interest payable Long-term...
Account Title Cash Accounts receivable Office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable Interest payable Long-term notes payable Common stock Retained earnings Dividends Trucking fees earned Depreciation expense-Trucks Salaries expense Office supplies expense Repairs expense-Trucks Totals Debit Credit $ 8,600 12,500 6,683 153,000 $ 31,518 48,000 12,600 14,000 53,000 -25,573 140,000 19,000 122,000 20,329 56,984 12,000 10, 449 $347,545 $347,545 Use the above adjusted trial balance to prepare Wilson Trucking Company's classified balance sheet as of December 31. WILSON TRUCKING...
G Account Title Cash Accounts receivable office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable Interest payable...
G Account Title Cash Accounts receivable office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable Interest payable Long-term notes payable Common stock Retained earnings Dividenda Trucking fees earned Depreciation expense-Trucks Salaries expense office supplies expense Repairs expense-Trucks Totals Debit Credit $ 8,800 17,500 7,838 181,000 $ 37,286 47,000 12,800 11,000 69,000 1,689 136,500 12,000 121,000 24,049 66,833 12,000 12, 255 $389,275 $389,275 Use the above adjusted trial balance to prepare Wilson Trucking Company's classified balance sheet as of December 31. WILSON...
Account Title Cash Accounts receivable Office supplies Trucks Accumulated depreciation - Trucks Land Accounts payable Interest...
Account Title Cash Accounts receivable Office supplies Trucks Accumulated depreciation - Trucks Land Accounts payable Interest payable Long-term notes payable K. Wilson, Capital K. Wilson, Withdrawals Trucking fees earned Depreciation expense Trucks Salaries expense Office supplies expense Repairs expense Trucks DebitCredit $ 5,400 14,000 7,948 157,000 $ 32,342 45,000 9,400 17,000 50,000 133,665 31,000 129,000 20,861 67,771 10,000 12,427 Totals $371,407 $371,407 WILSON TRUCKING COMPANY Balance Sheet December 31, 2015 Assets Liabilities Liabilities Equity
Concrete Consulting Co. has the following accounts in its ledger: Cash; Accounts Receivable; Supplies; Office Equipment;...
Concrete Consulting Co. has the following accounts in its ledger: Cash; Accounts Receivable; Supplies; Office Equipment; Accounts Payable; Jason Payne, Capital; Jason Payne, Drawing; Fees Earned; Rent Expense; Advertising Expense; Utilities Expense; Miscellaneous Expense. Oct. 1. Paid rent for the month, $3,000. 3. Paid advertising expense, $1,940. 5. Paid cash for supplies, $830. 6. Purchased office equipment on account, $12,700. 10. Received cash from customers on account, $4,160. 15. Paid creditors on account, $1,220. 27. Paid cash for miscellaneous expenses,...
Cash Accounts receivable Office supplies Land Office equipment Accounts payable Dividends 25,270 Consulting fees earned 22,280 Rent expense 5,150 Salaries expense 43,940 Telephone expense 19,910 Miscellaneous expenses 10,700 Common stock s26,920 9,460 5,510 760 430 101,000 5,910 Exercise 2-17 Preparing a statement of retained earnings LO P3 Use the above information to prepare an August statement of retained earnings for Help Today. (H $10,760.) HELP TODAY Statement of Retained Earnings 0
Cash Accounts receivable office supplies Land Office equipment Accounts payable Dividends s 25,270 Consulting fees earned 26,92 9,460 5,510 760 430 101,800 22,280 Rent expense 5,150 Salaries expense 43,940 Telephone expense 19,910 Miscel laneous expenses 10,780 Common stock 5,918 Exercise 2-16 Preparing an income statement LO C3, P3 Use the above information to prepare an August income statement for the business HELP TODAY Income Statement here to search ax We were unable to transcribe this image
Carmen Camry operates a consulting firm called Help Today, which began operations on August 1. On August 31, the company's records show the following accounts and amounts for the month of August. Cash Accounts receivable Office supplies Land Office equipment Accounts payable Dividends $ 25, 270 Consulting fees earned 22,280 Rent expense 5,150 Salaries expense 43,940 Telephone expense 19,910 Miscellaneous expenses 10,700 Common stock 5,910 $ 26,920 9,460 5,510 760 430 101,000 Use the above information to prepare an August...
Required information [The following information applies to the questions displayed below.] Carmen Camry operates a consulting firm called Help Today, which began operations on August 1. On August 31, the company's records show the following accounts and amounts for the month of August. Cash Accounts receivable office supplies Land Office equipment Accounts payable $ 25, 270 C. Camry, withdrawals 22,280 Consulting fees earned 5,150 Rent expense 43,940 Salaries expense 19,910 Telephone expense 10,700 Miscellaneous expenses $ 5,910 26,920 9, 460...
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...
Account Title Cash Accounts receivable Office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable Interest payable Long-term notes payable K. Wilson, Capital K. Wilson, Withdrawals Trucking fees earned Depreciation expense-Trucks Salaries expense Office supplies expense Repairs expense-Trucks Totals Debit Credit $ 9,000 10,000 6,490 181,000 $ 37,286 42,000 13,000 8,000 61,000 122,743 14,000 123,000 24,049 55,342 13,000 10,148 $365,029 $ 365,029 Use the above adjusted trial balance to prepare Wilson Trucking Company's classified balance sheet as of December 31, 2017 WILSON...
Account Title Cash Accounts receivable Office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable Interest payable Long-term notes payable Common stock Retained earnings Dividends Trucking fees earned Depreciation expense-Trucks Salaries expense Office supplies expense Repairs expense-Trucks Totals Debit Credit $ 8,600 12,500 6,683 153,000 $ 31,518 48,000 12,600 14,000 53,000 -25,573 140,000 19,000 122,000 20,329 56,984 12,000 10, 449 $347,545 $347,545 Use the above adjusted trial balance to prepare Wilson Trucking Company's classified balance sheet as of December 31. WILSON TRUCKING...
G Account Title Cash Accounts receivable office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable Interest payable Long-term notes payable Common stock Retained earnings Dividenda Trucking fees earned Depreciation expense-Trucks Salaries expense office supplies expense Repairs expense-Trucks Totals Debit Credit $ 8,800 17,500 7,838 181,000 $ 37,286 47,000 12,800 11,000 69,000 1,689 136,500 12,000 121,000 24,049 66,833 12,000 12, 255 $389,275 $389,275 Use the above adjusted trial balance to prepare Wilson Trucking Company's classified balance sheet as of December 31. WILSON...
Account Title Cash Accounts receivable Office supplies Trucks Accumulated depreciation - Trucks Land Accounts payable Interest payable Long-term notes payable K. Wilson, Capital K. Wilson, Withdrawals Trucking fees earned Depreciation expense Trucks Salaries expense Office supplies expense Repairs expense Trucks DebitCredit $ 5,400 14,000 7,948 157,000 $ 32,342 45,000 9,400 17,000 50,000 133,665 31,000 129,000 20,861 67,771 10,000 12,427 Totals $371,407 $371,407 WILSON TRUCKING COMPANY Balance Sheet December 31, 2015 Assets Liabilities Liabilities Equity
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