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Instruction I. Record following transactions as we did in class (Asset Liability + Equity 1. AA...
Instruction 1. Identify the type of accounts (i.e., asset, liability, or equity), and its normal balanc...
Instruction 1. Identify the type of accounts (i.e., asset, liability, or equity), and its normal balanc 'A' for asset, 'L' for liability, or 'E' for equity D' for debit, or 'C' for credit Account Cash Type Asset Liability Asset Equity Equity Equity Equity Equity Liability Equity Asset Asset Asset Asset Asset Liability Liability Equity Equity Asset Asset Normal Balance Debit Example 1. Accounts Payable 2. Accounts Receivable 3. Common Stock 4. Room Sales Revenue 5. Rent Expense 6. Rent Revenue...
(1) O (3) O Increase asset Increase liability Increase equity Decrease asset Decrease liability O Decrease...
(1) O (3) O Increase asset Increase liability Increase equity Decrease asset Decrease liability O Decrease equity (2) O O (Accounts Payable) O (Accounts Receivable) O (Cash) O (Common Stock) O (Rental Revenue) o (Office Furniture) O (Office Supplies) (Rent Expense) Increase asset Increase liability Increase equity Decrease asset Decrease liability O Decrease equity (5) O (4) O O (Common Stock) O (Rental Revenue) O (Accounts Payable) o (Office Furniture) O (Accounts Receivable) O Office Supplies) O (Cash) O (Rent...
I need help with part 6,7 and 8. I already did 1-5. HUMO sert Draw WE...
I
need help with part 6,7 and 8. I already did 1-5.
HUMO sert Draw WE JUURD Entry Question) Page Layout Data 2 View Formulas AA A Review = 12 O Pastes 881 09 Times New Roman BI fx C D Updates Ready to Install Some apps curren preventing automatico General $ - % 3 x 323 Conditional Format Formatting - Table Cell Styles Format X Sort & K L M N O P Instruction 1. Identify the type of...
10. (9 pts) Indicate what type of account each of the following is: (Asset, Liability, Equity,...
10. (9 pts) Indicate what type of account each of the following is: (Asset, Liability, Equity, Revenue, or Expense) TYPE TYPE ACCOUNT T Accumulated Depreciation Contributed Capital Cost of Goods Sold Income Tax Expense Interest Expense Interest Payable Prepaid Interest Salaries Payable Unearned Rent ACCOUNT Inventory Accounts payable Land Rent receivable Income Tax Payable Building Wage expense Accounts receivable Equipment 11. (23 pts) Prepare a balance and an income statement for Price Company. The company's trial balance in alphabetical order)...
Answers? 15 Points (2 pages) PROBLEM Based upon the comparative she prepare its Statement of and...
Answers?
15 Points (2 pages) PROBLEM Based upon the comparative she prepare its Statement of and the additional inforatve balance sheets, the income stat and the additional information Cash Filows using the pration for Sales Co. prepare its Statement of Cash Flows using the Direct M Method Comparative Balance Sheets 1, 2018 and 2017 2018 2017 Change cember Balance Sheets Assets Cash Accounts receivable Inventory Prepaid Insurance Land Equipment Less: Accum Deprec 43,000 28,000 ↑15,000 33,000 30,000 T 3,000 46,000...
Following are the transactions of Dennen Inc. for the month of January 2018. The effect of...
Following are the transactions of Dennen Inc. for the month of January 2018. The effect of these transactions is not included in the begininng balances shown. a. Borrowed $30,000 from a local bank. b. Lent $10,000 to an affiliate; accepted a note due in one year. c. Sold 100 additional shares to investors for $500 cash. d. Purchased $15,000 of equipment, paying $5,000 cash and signing a note for the rest due in one year. e. Declared and paid $2,000...
How much total depreciation and amortization expense did Patnode record during 2015? How much total depreciation...
How much total depreciation and amortization expense did Patnode
record during 2015?
How much total depreciation and amortization expense did Patnode
record during 2015?
$10,000
$6,000
$3,000
$5,000
35. How much total depreciation and amortization expense did Patnode record during 2015? O $10,000 O $6,000 O $3,000 O $5,000 Note that amortization of the license asset has been shown as a separate line item only for ease of calculations. Dec 31, 2015 Change Dec. 31, 2014 Dec. 31, 2015 Change...
Prepare the journal entries to record the following transactions es to record the following transactions of...
Prepare the journal entries to record the following transactions es to record the following transactions of the Peace Corporation. 1. Material requisitions total $20,000 that was allocated Job # 102--$9,000, and $1,000 of indirect materials. tal $20,000 that was allocated as following: Job #101- -$10,000; material 29000 CASH 29000 Indirect 1,000 Material bone Job 101 wip Materials 10,000 103000 1000 - 9000 Materials so Job 182 WIP 9,00 Materials 2. Time tickets total $15,000 that was allocated as following: Job...
Takaki Inc. reported net income of $53,000 for 2017. The liability and equity accounts from the...
Takaki Inc. reported net income of $53,000 for 2017. The liability and equity accounts from the company's comparative balance sheet are as follows: Dec. 31, 2017 Dec. 31, 2016 Accounts payable $31,900 $28,400 Dividends payable 5,000 3,000 Common stock, $5 par value 80,000 75,000 Paid-in capital in excess of par-common stock 37,000 30,000 Retained earnings 130,600 81,600 During the year, the company declared dividends of $4,000 and issued 1,000 shares of common stock for $12 per share. Prepare the Cash...
[The following information applies to the questions displayed below. Cougar Plastics Company has been operating for...
[The following information applies to the questions displayed below. Cougar Plastics Company has been operating for three years. At December 31 of last year the accounting records reflected the following $22,000 Accounts payable Cash Investments (short-term) Accounts recelvable Inventory Notes receivable (long-term Equipment Factory building Intangibles $15,000 3,000 Accrued liabilities payable 4,000 3,000 Notes payable (short-term7000 20,000 Notes payable (long-term 47,000 10,000 80,000 31,000 1,000 Common stock 50,000 Additional paid-in capital 90,000 Retained earnings 5,000 During the current year, the...
Instruction 1. Identify the type of accounts (i.e., asset, liability, or equity), and its normal balanc 'A' for asset, 'L' for liability, or 'E' for equity D' for debit, or 'C' for credit Account Cash Type Asset Liability Asset Equity Equity Equity Equity Equity Liability Equity Asset Asset Asset Asset Asset Liability Liability Equity Equity Asset Asset Normal Balance Debit Example 1. Accounts Payable 2. Accounts Receivable 3. Common Stock 4. Room Sales Revenue 5. Rent Expense 6. Rent Revenue...
(1) O (3) O Increase asset Increase liability Increase equity Decrease asset Decrease liability O Decrease equity (2) O O (Accounts Payable) O (Accounts Receivable) O (Cash) O (Common Stock) O (Rental Revenue) o (Office Furniture) O (Office Supplies) (Rent Expense) Increase asset Increase liability Increase equity Decrease asset Decrease liability O Decrease equity (5) O (4) O O (Common Stock) O (Rental Revenue) O (Accounts Payable) o (Office Furniture) O (Accounts Receivable) O Office Supplies) O (Cash) O (Rent...
I
need help with part 6,7 and 8. I already did 1-5.
HUMO sert Draw WE JUURD Entry Question) Page Layout Data 2 View Formulas AA A Review = 12 O Pastes 881 09 Times New Roman BI fx C D Updates Ready to Install Some apps curren preventing automatico General $ - % 3 x 323 Conditional Format Formatting - Table Cell Styles Format X Sort & K L M N O P Instruction 1. Identify the type of...
10. (9 pts) Indicate what type of account each of the following is: (Asset, Liability, Equity, Revenue, or Expense) TYPE TYPE ACCOUNT T Accumulated Depreciation Contributed Capital Cost of Goods Sold Income Tax Expense Interest Expense Interest Payable Prepaid Interest Salaries Payable Unearned Rent ACCOUNT Inventory Accounts payable Land Rent receivable Income Tax Payable Building Wage expense Accounts receivable Equipment 11. (23 pts) Prepare a balance and an income statement for Price Company. The company's trial balance in alphabetical order)...
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15 Points (2 pages) PROBLEM Based upon the comparative she prepare its Statement of and the additional inforatve balance sheets, the income stat and the additional information Cash Filows using the pration for Sales Co. prepare its Statement of Cash Flows using the Direct M Method Comparative Balance Sheets 1, 2018 and 2017 2018 2017 Change cember Balance Sheets Assets Cash Accounts receivable Inventory Prepaid Insurance Land Equipment Less: Accum Deprec 43,000 28,000 ↑15,000 33,000 30,000 T 3,000 46,000...
Following are the transactions of Dennen Inc. for the month of January 2018. The effect of these transactions is not included in the begininng balances shown. a. Borrowed $30,000 from a local bank. b. Lent $10,000 to an affiliate; accepted a note due in one year. c. Sold 100 additional shares to investors for $500 cash. d. Purchased $15,000 of equipment, paying $5,000 cash and signing a note for the rest due in one year. e. Declared and paid $2,000...
How much total depreciation and amortization expense did Patnode
record during 2015?
How much total depreciation and amortization expense did Patnode
record during 2015?
$10,000
$6,000
$3,000
$5,000
35. How much total depreciation and amortization expense did Patnode record during 2015? O $10,000 O $6,000 O $3,000 O $5,000 Note that amortization of the license asset has been shown as a separate line item only for ease of calculations. Dec 31, 2015 Change Dec. 31, 2014 Dec. 31, 2015 Change...
Prepare the journal entries to record the following transactions es to record the following transactions of the Peace Corporation. 1. Material requisitions total $20,000 that was allocated Job # 102--$9,000, and $1,000 of indirect materials. tal $20,000 that was allocated as following: Job #101- -$10,000; material 29000 CASH 29000 Indirect 1,000 Material bone Job 101 wip Materials 10,000 103000 1000 - 9000 Materials so Job 182 WIP 9,00 Materials 2. Time tickets total $15,000 that was allocated as following: Job...
Takaki Inc. reported net income of $53,000 for 2017. The liability and equity accounts from the company's comparative balance sheet are as follows: Dec. 31, 2017 Dec. 31, 2016 Accounts payable $31,900 $28,400 Dividends payable 5,000 3,000 Common stock, $5 par value 80,000 75,000 Paid-in capital in excess of par-common stock 37,000 30,000 Retained earnings 130,600 81,600 During the year, the company declared dividends of $4,000 and issued 1,000 shares of common stock for $12 per share. Prepare the Cash...
[The following information applies to the questions displayed below. Cougar Plastics Company has been operating for three years. At December 31 of last year the accounting records reflected the following $22,000 Accounts payable Cash Investments (short-term) Accounts recelvable Inventory Notes receivable (long-term Equipment Factory building Intangibles $15,000 3,000 Accrued liabilities payable 4,000 3,000 Notes payable (short-term7000 20,000 Notes payable (long-term 47,000 10,000 80,000 31,000 1,000 Common stock 50,000 Additional paid-in capital 90,000 Retained earnings 5,000 During the current year, the...
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