Prepare the balance sheet for Ralph Company at December 31, 2019 based on the following information....
Prepare the balance sheet for Ralph Company at December 31, 2019 based on the following information.
Received cash of $35,000 from the issuance of common stock
Performed services on account for $75,000
Collected $48,000 of accounts receivable
Recorded $12,000 of accrued salaries at the end of the year
Paid rent expense of $18,000
Paid $4,000 of cash dividends to shareholders
Homework Answers
Add Answer to:
Prepare the balance sheet for Ralph Company at December 31, 2019
based on the following information....
5. Prepare an Income Statement and a Balance Sheet from a trial balance. Using the information...
5. Prepare an Income Statement and a Balance Sheet from a trial balance. Using the information from the trial balance of Barger Company, prepare an income statement and balance sheet. (Hint: Prepare the income statement first, then separately calculate ending retained earnings, and lastly prepare the balance sheet.) Debit Credit Cash 16,000 Accounts Receivable 14,000 Prepaid Rent 10,000 Land 30,000 Unearned Revenue 10,000 Salaries Payable 5,000 Common Stock 15,000 Beginning Retained Earnings 38,000 Service Revenue 12,000 Salaries Expense 5,000 Rent...
5. Prepare an Income Statement and a Balance Sheet from a trial balance. Using the information...
5. Prepare an Income Statement and a Balance Sheet from a trial balance. Using the information from the trial balance of Barger Company, prepare an income statement and balance sheet. (Hint: Prepare the income statement first, then separately calculate ending retained earnings, and lastly prepare the balance sheet) Debit Credit Cash 16,000 Accounts Receivable 14,000 Prepaid Rent Land 10,000 30,000 10,000 5,000 15,000 38,000 12,000 Unearned Revenue Salaries Payable Common Stock Beginning Retained Earnings Service Revenue Salaries Expense Rent Expense...
Required information As of December 31, 2019, Armani Company's financial records show the following items and...
Required information As of December 31, 2019, Armani Company's financial records show the following items and amounts. Cash Accounts receivable Supplies Equipment Accounts payable Common stock Retained earnings, Dec. 31, 2018 Retained earnings, Dec. 31, 2019 Dividends Consulting revenue Rental revenue Salaries expense Rent expense Selling and administrative expenses $10,000 9,000 7,000 4,000 11,000 14,000 3,000 5,000 13,000 33,000 22,000 20,000 12,000 8,000 Required: Prepare a year-end balance sheet for Armani Company. ARMANI COMPANY Balance Stat December 31, 2019 Rental...
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...
Credit $ 2,000 BUSI 1043 INC. Adjusted Trial Balance Asat December 31, 2019 Debit Cash $...
Credit $ 2,000 BUSI 1043 INC. Adjusted Trial Balance Asat December 31, 2019 Debit Cash $ 20,000 Accounts Receivable $ 17,000 Allowance for doubtful accounts Inventory $ 10,000 Prepaid Expenses $ 2,000 Long Term Investments $100,000 Building $300,000 Accumulated Depreciation - Building Equipment $ 75,000 Accumulated Depreciation - Equipment Accounts Payable Salaries Payable Interest Payable Income Tax Payable Unearned Revenue Current portion of bank loan payable Bank loan payable Common Shares Dividends Declared $ 16,000 $ 30,000 $ 15,000 $...
The adjusted trial balance of Parsons Company at December 31, 2020, includes the following accounts: Common...
The adjusted trial balance of Parsons Company at December 31, 2020, includes the following accounts: Common Stock $15,600, Dividends $7,000, Service Revenue $37,000, Salaries and Wages Expense $16,000, Insurance Expense $2,000, Rent Expense $4,000, Supplies Expense $1,500, and Depreciation Expense $1,300. The balance in Common Stock is the balance as of January 1. Prepare a retained earnings statement for the year assuming net income is $12,200 for the year and Retained Earnings is $7,240 on January 1. (List items that...
Prepare an; income statement, statement of changes in stockholders equity, balance sheet, and statement of cash...
Prepare an;
income statement,
statement of changes in stockholders equity, balance sheet,
and
statement of cash flow for Year One
orvos Google Scholar Cover Stories on Fli... Suggested Sites O Mail-mmontanye1.. ter 3 - Homework i Help The following transactions pertain to Smith Training Company for Year 1: Jan. 30 Established the business when it acquired $45,000 cash from the issue of common stock. Feb. 1 Paid rent for office space for two years, $24,000 cash. Apr. 10 Purchased $3,200...
B-2. Prepare the statement of changes in stockholders equity B-3. Prepare the balance sheet B-4. Prepare...
B-2. Prepare the statement of changes in stockholders
equity
B-3. Prepare the balance sheet
B-4. Prepare the statement of cash dlows for year 1 accounting
period.
Required information [The following information applies to the questions displayed below.] Milea Inc. experienced the following events in Year 1, its first year of operations: 1. Received $14,500 cash from the issue of common stock. 2. Performed services on account for $45,000. 3. Paid the utility expense of $1,200. 4. Collected $39,110 of the...
Prepare Statement of Earnings for year ended December 31, 2019 On October 31st, 2019, the company...
Prepare Statement of Earnings for year ended December 31,
2019
On October 31st, 2019, the company declared $30,000 cash
dividends. The dividends were paid on February 12, 2020.
On February 15th, 2019, the company declared a 20% common stock
dividends when market share price was $30. The shares were
distributed on November 15th, 2019 when market share price was
$32.
On December 31, 2019, the company declared a two-for-one stock
split on common shares.
Client/Customer List was purchased on December...
5. Prepare an Income Statement and a Balance Sheet from a trial balance. Using the information from the trial balance of Barger Company, prepare an income statement and balance sheet. (Hint: Prepare the income statement first, then separately calculate ending retained earnings, and lastly prepare the balance sheet) Debit Credit Cash 16,000 Accounts Receivable 14,000 Prepaid Rent Land 10,000 30,000 10,000 5,000 15,000 38,000 12,000 Unearned Revenue Salaries Payable Common Stock Beginning Retained Earnings Service Revenue Salaries Expense Rent Expense...
Required information As of December 31, 2019, Armani Company's financial records show the following items and amounts. Cash Accounts receivable Supplies Equipment Accounts payable Common stock Retained earnings, Dec. 31, 2018 Retained earnings, Dec. 31, 2019 Dividends Consulting revenue Rental revenue Salaries expense Rent expense Selling and administrative expenses $10,000 9,000 7,000 4,000 11,000 14,000 3,000 5,000 13,000 33,000 22,000 20,000 12,000 8,000 Required: Prepare a year-end balance sheet for Armani Company. ARMANI COMPANY Balance Stat December 31, 2019 Rental...
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...
Credit $ 2,000 BUSI 1043 INC. Adjusted Trial Balance Asat December 31, 2019 Debit Cash $ 20,000 Accounts Receivable $ 17,000 Allowance for doubtful accounts Inventory $ 10,000 Prepaid Expenses $ 2,000 Long Term Investments $100,000 Building $300,000 Accumulated Depreciation - Building Equipment $ 75,000 Accumulated Depreciation - Equipment Accounts Payable Salaries Payable Interest Payable Income Tax Payable Unearned Revenue Current portion of bank loan payable Bank loan payable Common Shares Dividends Declared $ 16,000 $ 30,000 $ 15,000 $...
The adjusted trial balance of Parsons Company at December 31, 2020, includes the following accounts: Common Stock $15,600, Dividends $7,000, Service Revenue $37,000, Salaries and Wages Expense $16,000, Insurance Expense $2,000, Rent Expense $4,000, Supplies Expense $1,500, and Depreciation Expense $1,300. The balance in Common Stock is the balance as of January 1. Prepare a retained earnings statement for the year assuming net income is $12,200 for the year and Retained Earnings is $7,240 on January 1. (List items that...
Prepare an;
income statement,
statement of changes in stockholders equity, balance sheet,
and
statement of cash flow for Year One
orvos Google Scholar Cover Stories on Fli... Suggested Sites O Mail-mmontanye1.. ter 3 - Homework i Help The following transactions pertain to Smith Training Company for Year 1: Jan. 30 Established the business when it acquired $45,000 cash from the issue of common stock. Feb. 1 Paid rent for office space for two years, $24,000 cash. Apr. 10 Purchased $3,200...
B-2. Prepare the statement of changes in stockholders
equity
B-3. Prepare the balance sheet
B-4. Prepare the statement of cash dlows for year 1 accounting
period.
Required information [The following information applies to the questions displayed below.] Milea Inc. experienced the following events in Year 1, its first year of operations: 1. Received $14,500 cash from the issue of common stock. 2. Performed services on account for $45,000. 3. Paid the utility expense of $1,200. 4. Collected $39,110 of the...
Prepare Statement of Earnings for year ended December 31,
2019
On October 31st, 2019, the company declared $30,000 cash
dividends. The dividends were paid on February 12, 2020.
On February 15th, 2019, the company declared a 20% common stock
dividends when market share price was $30. The shares were
distributed on November 15th, 2019 when market share price was
$32.
On December 31, 2019, the company declared a two-for-one stock
split on common shares.
Client/Customer List was purchased on December...
Most questions answered within 3 hours.
-
What are the main components of the fermentation process and
give an explanation of each? Include...
asked 11 minutes ago -
Explain which types of cells in the body (belonging to which
organs, etc.) are sensitive to...
asked 15 minutes ago -
A single cable supports an 703-kg elevator car. What is the
tension in the cable when...
asked 17 minutes ago -
among the three different ways to link CSS specifications to an
HTML document (inline CSS, document...
asked 28 minutes ago -
(1) Write the net ionic equation for the reaction that occurs
when equal volumes of 0.191...
asked 56 minutes ago -
On the night of April 18, 1775, a signal was to be sent from the
Old...
asked 39 minutes ago -
For each of the following strong base solutions, determine
[OH−],[H3O+], pH, and pOH 4.8 x 10^-4...
asked 34 minutes ago -
The magnitude of the electric field inside a capacitor is 6.6 x
106 N/C. What is...
asked 34 minutes ago -
Organizations may have only a few products or many products in a
product line. Consider Campbell...
asked 47 minutes ago -
could you please help me to explain the nmr splitting
integration and chemical shift and assignment...
asked 43 minutes ago -
A
29.0 cm diameter coil consists of 23 turns of cylindrical copper
wire 2.00 mm in...
asked 49 minutes ago -
Q1
Two of your friends each received the results of their
first midterm exam this term....
asked 1 hour ago