part a: prepare an income statement
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part a: prepare an income statement
Exercise 4-12 (Part Level Submission) Fraser Valley Services Ltd. reports...
Current Attempt in Progress Morrison Services Ltd. reports the following adjusted account balances, shown in alphabetical...
Current Attempt in Progress Morrison Services Ltd. reports the following adjusted account balances, shown in alphabetical order, at the end of its fiscal year, July 31, 2018: Accounts payable $2,880 Interest expense $1,410 Accounts receivable 19,925 Interest payable 1,320 Accumulated depreciation-equipment 5,715 Prepaid insurance 3,600 Bank loan payable, due 2021 24,700 Rent expense 17,690 Cash 7,490 Rent payable Retained earnings 1,210 Common shares 4,870 5,200 Depreciation expense 2,185 Salaries expense 19,140 Dividends declared 460 Salaries payable 2,150 Equipment 25,400 Service...
Morrison Services Ltd. Adjusted Trial Balance July 31, 2018 Debit Credit Cash $7,490 Accounts receivable 19,875...
Morrison Services Ltd. Adjusted Trial Balance July 31, 2018 Debit Credit Cash $7,490 Accounts receivable 19,875 Supplies 3,460 Prepaid insurance 3,620 Equipment 25,300 Accumulated depreciation-equipment $5,785 Accounts payable 2,820 Salaries payable 2,190 Interest payable 1,290 Rent payable 1,190 Income tax payable 1,450 Income tax payable 1,450 Unearned revenue 510 Bank loan payable, due 2021 24,500 Common shares 4,870 Retained earnings 5,250 Dividends declared 530 bort Service revenue 55,675 Salaries expense 19,120 Rent expense 18,080 Depreciation expense 2,175 Supplies expense 1,580...
Credit STURGE TECHNOLOGY SERVICES LID Statement of Income For the year eaded Agirt 31, 2021 $...
Credit STURGE TECHNOLOGY SERVICES LID Statement of Income For the year eaded Agirt 31, 2021 $ STURGE TECHNOLOGY SERVICES LTD. Adjusted Trial Balance August 31, 2021 Debit Cash $11.430 Accounts receivable 18.350 Supplies 3.300 Prepaid insurance 3.700 Equipment 27.100 Accumulated depreciation equipment Accounts payable Salaries payable Interest payable Rent payable Income tax payable Deferred revenue Bank loan payable, 2024 Common shares Retained earnings Dividends declared 400 Service revenue Salaries expense 19,200 Rent expense 12.785 Depreciation expense 2.335 Supplies expense 1,890...
Exercise 4-22 (Part Level Submission) The adjusted trial balance for Sheridan Company is given below: Cr....
Exercise 4-22 (Part Level Submission) The adjusted trial balance for Sheridan Company is given below: Cr. SHERIDAN COMPANY Trial Balance August 31, 2017 Before Adjustment Dr. Cr. $11,820 8,960 2,820 4,270 15,480 After Adjustment Dr. $11,820 9,490 1,740 2,830 15,480 $3,483 5,570 $4,683 5,570 1,420 Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation -Equipment Accounts Payable Salaries and Wages Payable Unearned Rent Revenue Common Stock Retained Earnings Dividends Service Revenue Rent Revenue Salaries and Wages Expense Supplies Expense Rent...
The adjusted trial balance for Morrison Services Ltd, at July 31, 2018 is as follows: Morrison...
The adjusted trial balance for Morrison Services Ltd, at July 31, 2018 is as follows: Morrison Services Ltd. Adjusted Trial Balance July 31, 2018 Credit Cash Debit $7,490 19,875 Accounts receivable Supplies 3,460 Prepaid insurance 3,620 Equipment 25,300 Accumulated depreciation-equipment $5,785 Accounts payable 2,820 Salaries payable 2,190 Interest payable 1,290 1,190 Rent payable Income tax payable 1,450 Unearned revenue 510 24,500 Bank loan payable, due 2021 4,870 Common shares 5,250 Retained earnings 530 Retained earnings Dividends declared Service revenue Salaries...
Credit STURGE TECHNOLOGY SERVICES LTD. Statement of Changes in Equity Year Ended August 31, 2021 Common...
Credit STURGE TECHNOLOGY SERVICES LTD. Statement of Changes in Equity Year Ended August 31, 2021 Common Shares Retained Earnings $ Total EqL < $ STURGE TECHNOLOGY SERVICES LTD. Adjusted Trial Balance August 31, 2021 Debit Cash $11.430 Accounts receivable 18,350 Supplies 3,300 Prepaid insurance 3.700 Equipment 27.100 Accumulated depreciation equipment Accounts payable Selaries payable Interest payable Rent payable Income tax payable Deferred revenue Bank loan payable, 2024 Common shares Retained earnings Dividends declared 400 Service revenue Salaries expense 19.200 Rent...
Brief Exercise 4-14 (Part Level Submission) The income statement for Regina Cleaning Services Ltd. for the...
Brief Exercise 4-14 (Part Level Submission) The income statement for Regina Cleaning Services Ltd. for the year ended November 30 shows Service Revenue $129,900; Salaries Expense $82,800; Repairs and Maintenance Expense $15,800; Supplies Expense $6,400; Utilities Expense $2,900; and Income Tax Expense $5,900. The statement of changes in equity shows an opening balance for Retained Earnings of $50,300 and Dividends Declared $10,700. (a) Your answer is correct. Calculate the net income or loss for the year. Net Income / loss...
Problem 4-05A a-g (Part Level Submission) (Video) Pharoah Clark opened Pharoah's Cleaning Service on July 1,...
Problem 4-05A a-g (Part Level Submission) (Video) Pharoah Clark opened Pharoah's Cleaning Service on July 1, 2020. During July, the following transactions were completed. July 1 Pharoah invested $20,000 cash in the business. 1 Purchased used truck for $9,000, paying $4,100 cash and the balance on account. 3 Purchased cleaning supplies for $2,000 on account. 5 Paid $1,680 cash on 1-year insurance policy effective July 1. 12 Billed customers $4,400 for cleaning services. 18 Paid $1,400 cash on amount owed...
The income statement of Gopitkumar Co. for the month of July shows net income of $1,400...
The income statement of Gopitkumar Co. for the month of July shows net income of $1,400 based on Service Revenue $5,500, Salaries and Wages Expense $2,300, Supplies Expense $1,200, and Utities Expense $600. In reviewing the statement, you discover the following. 1. 2. 3. 4. 5. Insurance expered during July of $400 was omitted Supplies expense includes $250 of supplies that are still on hand at July 31. Depreciation on equipment of $150 was omitted. Accrued but unpaid salaries and...
Exercise 3-18 a-c (Part Level Submission) The adjusted trial balance for Pharoah Company is given below....
Exercise 3-18 a-c (Part Level Submission) The adjusted trial balance for Pharoah Company is given below. Pharoah Company Trial Balance August 31, 2020 Before Adjustment Cr. After Adjustment Dr. Cr. Dr. $10,200 8,900 2,300 3,800 13,500 $10,200 9,900 600 2,700 13,500 Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Accounts Payable Salaries and Wages Payable Unearned Rent Revenue Common Stock Retained Earnings Service Revenue Rent Revenue Salaries and Wages Expense Supplies Expense Rent Expense Insurance Expense Depreciation Expense $...
Current Attempt in Progress Morrison Services Ltd. reports the following adjusted account balances, shown in alphabetical order, at the end of its fiscal year, July 31, 2018: Accounts payable $2,880 Interest expense $1,410 Accounts receivable 19,925 Interest payable 1,320 Accumulated depreciation-equipment 5,715 Prepaid insurance 3,600 Bank loan payable, due 2021 24,700 Rent expense 17,690 Cash 7,490 Rent payable Retained earnings 1,210 Common shares 4,870 5,200 Depreciation expense 2,185 Salaries expense 19,140 Dividends declared 460 Salaries payable 2,150 Equipment 25,400 Service...
Morrison Services Ltd. Adjusted Trial Balance July 31, 2018 Debit Credit Cash $7,490 Accounts receivable 19,875 Supplies 3,460 Prepaid insurance 3,620 Equipment 25,300 Accumulated depreciation-equipment $5,785 Accounts payable 2,820 Salaries payable 2,190 Interest payable 1,290 Rent payable 1,190 Income tax payable 1,450 Income tax payable 1,450 Unearned revenue 510 Bank loan payable, due 2021 24,500 Common shares 4,870 Retained earnings 5,250 Dividends declared 530 bort Service revenue 55,675 Salaries expense 19,120 Rent expense 18,080 Depreciation expense 2,175 Supplies expense 1,580...
Credit STURGE TECHNOLOGY SERVICES LID Statement of Income For the year eaded Agirt 31, 2021 $ STURGE TECHNOLOGY SERVICES LTD. Adjusted Trial Balance August 31, 2021 Debit Cash $11.430 Accounts receivable 18.350 Supplies 3.300 Prepaid insurance 3.700 Equipment 27.100 Accumulated depreciation equipment Accounts payable Salaries payable Interest payable Rent payable Income tax payable Deferred revenue Bank loan payable, 2024 Common shares Retained earnings Dividends declared 400 Service revenue Salaries expense 19,200 Rent expense 12.785 Depreciation expense 2.335 Supplies expense 1,890...
Exercise 4-22 (Part Level Submission) The adjusted trial balance for Sheridan Company is given below: Cr. SHERIDAN COMPANY Trial Balance August 31, 2017 Before Adjustment Dr. Cr. $11,820 8,960 2,820 4,270 15,480 After Adjustment Dr. $11,820 9,490 1,740 2,830 15,480 $3,483 5,570 $4,683 5,570 1,420 Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation -Equipment Accounts Payable Salaries and Wages Payable Unearned Rent Revenue Common Stock Retained Earnings Dividends Service Revenue Rent Revenue Salaries and Wages Expense Supplies Expense Rent...
The adjusted trial balance for Morrison Services Ltd, at July 31, 2018 is as follows: Morrison Services Ltd. Adjusted Trial Balance July 31, 2018 Credit Cash Debit $7,490 19,875 Accounts receivable Supplies 3,460 Prepaid insurance 3,620 Equipment 25,300 Accumulated depreciation-equipment $5,785 Accounts payable 2,820 Salaries payable 2,190 Interest payable 1,290 1,190 Rent payable Income tax payable 1,450 Unearned revenue 510 24,500 Bank loan payable, due 2021 4,870 Common shares 5,250 Retained earnings 530 Retained earnings Dividends declared Service revenue Salaries...
Credit STURGE TECHNOLOGY SERVICES LTD. Statement of Changes in Equity Year Ended August 31, 2021 Common Shares Retained Earnings $ Total EqL < $ STURGE TECHNOLOGY SERVICES LTD. Adjusted Trial Balance August 31, 2021 Debit Cash $11.430 Accounts receivable 18,350 Supplies 3,300 Prepaid insurance 3.700 Equipment 27.100 Accumulated depreciation equipment Accounts payable Selaries payable Interest payable Rent payable Income tax payable Deferred revenue Bank loan payable, 2024 Common shares Retained earnings Dividends declared 400 Service revenue Salaries expense 19.200 Rent...
Brief Exercise 4-14 (Part Level Submission) The income statement for Regina Cleaning Services Ltd. for the year ended November 30 shows Service Revenue $129,900; Salaries Expense $82,800; Repairs and Maintenance Expense $15,800; Supplies Expense $6,400; Utilities Expense $2,900; and Income Tax Expense $5,900. The statement of changes in equity shows an opening balance for Retained Earnings of $50,300 and Dividends Declared $10,700. (a) Your answer is correct. Calculate the net income or loss for the year. Net Income / loss...
Problem 4-05A a-g (Part Level Submission) (Video) Pharoah Clark opened Pharoah's Cleaning Service on July 1, 2020. During July, the following transactions were completed. July 1 Pharoah invested $20,000 cash in the business. 1 Purchased used truck for $9,000, paying $4,100 cash and the balance on account. 3 Purchased cleaning supplies for $2,000 on account. 5 Paid $1,680 cash on 1-year insurance policy effective July 1. 12 Billed customers $4,400 for cleaning services. 18 Paid $1,400 cash on amount owed...
The income statement of Gopitkumar Co. for the month of July shows net income of $1,400 based on Service Revenue $5,500, Salaries and Wages Expense $2,300, Supplies Expense $1,200, and Utities Expense $600. In reviewing the statement, you discover the following. 1. 2. 3. 4. 5. Insurance expered during July of $400 was omitted Supplies expense includes $250 of supplies that are still on hand at July 31. Depreciation on equipment of $150 was omitted. Accrued but unpaid salaries and...
Exercise 3-18 a-c (Part Level Submission) The adjusted trial balance for Pharoah Company is given below. Pharoah Company Trial Balance August 31, 2020 Before Adjustment Cr. After Adjustment Dr. Cr. Dr. $10,200 8,900 2,300 3,800 13,500 $10,200 9,900 600 2,700 13,500 Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Accounts Payable Salaries and Wages Payable Unearned Rent Revenue Common Stock Retained Earnings Service Revenue Rent Revenue Salaries and Wages Expense Supplies Expense Rent Expense Insurance Expense Depreciation Expense $...
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