Homework Answers
| Accounts Receivable is not a liability |
| Accounts Receivable is a Current Asset |
| Unearned Service Revenue, Accounts Payable and Interest Payable are Current Liabilities. |
| Option B Accounts Receivable is correct |
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Question 3 View Policies Current Attempt in Progress Which of the following is not a liability?...
View Policies Current Attempt in Progress For each of the following accounts, indicate the effect of...
View Policies Current Attempt in Progress For each of the following accounts, indicate the effect of a debit or a credit on the account and the normal balance. Debit Effect Credit Effect Normal Balance Accounts Payable. a. b. < > < > < d. Advertising Expense. Service Revenue. Accounts Receivable. Retained Earnings. Dividends. < e. f. eTextbook and Media Save for Later Attempts: 0 of 3 used Submit Answer View Policies Current Attempt in Progress For each of the following...
Question 7 View Policies Show Attempt History Current Attempt in Progress – Your answer is partially...
Question 7 View Policies Show Attempt History Current Attempt in Progress – Your answer is partially correct. The following information is available for Carla Vista Co. Accounts receivable $2,300 Cash Accounts payable 4.400 Supplies Interest payable 520 Unearned service revenue Salaries and wages expense 5.100 Service revenue Notes payable 32.500 Salaries and wages payable Common stock 55,700 Depreciation expense Inventory 2.880 Equipment (net) $6,230 3,770 900 42,700 890 780 108,500 Using the information above, prepare a balance sheet as of...
Question 8 View Policies Current Attempt in Progress Swifty Corporation had the following accounts and balances:...
Question 8 View Policies Current Attempt in Progress Swifty Corporation had the following accounts and balances: Accounts payable Accounts receivable Buildings en el Cash $29900 Equipment 5400 Land ? Unearned service revenue 15100 Total stockholders' $35400 34400 9600 Cash equity If the balance of the Bulldings account was $73100 and $4600 of Accounts Payable were paid in cash, what would be the balance of the total stockholders' equity? $174400 $139000 $133500 $123900 A Ad VIS
Question 4 View Policies Current Attempt in Progress Presented here are liability items for Tamarisk Inc. at Decemb...
Question 4 View Policies Current Attempt in Progress Presented here are liability items for Tamarisk Inc. at December 31, 2022. Accounts payable Notes payable (due May 1, 2023) Bonds payable (due 2026) Unearned rent revenue Discount on bonds payable $196,250 FICA taxes payable $9,750 25,000 Interest payable 50,000 1.125,000 Notes payable (due 2024) 100,000 300,000 Income taxes payable 4,375 51,250 Sales taxes payable 2,125 Prepare the liabilities section of Tamarisk's balance sheet. TAMARISK INC. Balance sheet (Partial)
--/10 Question 6 View Policies Current Attempt in Progress Below are some items found in the...
--/10 Question 6 View Policies Current Attempt in Progress Below are some items found in the financial statements of Petra Zizler. Orthodontist. Indicate (a) whether each of the above items is an asset, liability, or part of owner's equity: and (b) which financial statement-income statement statement of owner's equity, or balance sheet-it would be reported on. The first one has been done for you as an example (a) (b) 1 Accounts payable Liability Balance Sheet 2. Accounts receivable abili 3...
Question 17 View Policies Current Attempt in Progress Presented here are liability items for Skysong, Inc....
Question 17 View Policies Current Attempt in Progress Presented here are liability items for Skysong, Inc. at December 31, 2017 Accounts payable Notes payable (due May 1, 2018) Bonds payable (due 2021) Unearned rent revenue Discount on bonds payable $298,300 FICA taxes payable $14,820 38,000 Interest payable 76,000 1.710,000 Notes payable (due 2019) 152,000 456,000 Income taxes payable 6,650 77,900 Sales taxes payable 3.230 Prepare the liabilities section of Skysong's balance sheet. SKYSONG, INC. Balance Sheet (Partial) e Textbook and...
Question 19 of 52 < -11 View Policies Current Attempt in Progress The following trial balance...
Question 19 of 52 < -11 View Policies Current Attempt in Progress The following trial balance of Flounder Corporation does not balance, Credit FLOUNDER CORPORATION TRIAL BALANCE JUNE 30, 2020 Debit Cash $6,796 Accounts Receivable 7.770 Supplies 3,736 Equipment 9,500 Accounts Payable Common Stock Retained Earnings Service Revenue Office Expense 4,560 $32,362 $8,484 11,500 2,900 6,798 $29,682 An examination of the ledger shows these errors. 1. 2. 3. Cash received from a customer on account was recorded (both debit and...
sions ences orations Question 9 View Policies Current Attempt in Progress LUS Support Oriole Company had...
sions ences orations Question 9 View Policies Current Attempt in Progress LUS Support Oriole Company had the following accounts and balances: Accounts payable Accounts receivable Buildings $29100 Equipment 4650 Land ? Unearned service revenue 14950 Total stockholders equity $34100 35000 10400 Cash If total stockholder's equity was $92300, what would be the balance of the Buildings Account? $35000 $142700 $43100 $132700
Question 5 of 6 < - /5 E View Policies Current Attempt in Progress Selected transactions...
Question 5 of 6 < - /5 E View Policies Current Attempt in Progress Selected transactions from the journal of Kingbird, Inc. during its first month of operations are presented here. Account Titles Debit Credit Date Aug 1 Cash 7,800 7,800 10 1,750 1.750 12 6,600 Common Stock Cash Service Revenue Equipment Cash Notes Payable Accounts Receivable Service Revenue Cash Accounts Receivable 1,700 4,900 25 2,810 2,810 31 730 730 (a) Post the transactions to T-accounts. (Post entries in the...
Question 12 of 25 -11 View Policies Current Attempt in Progress Sebastian Belle, CPA, has billed...
Question 12 of 25 -11 View Policies Current Attempt in Progress Sebastian Belle, CPA, has billed her clients for services performed. She subsequently receives payments from her clients. Whater will Sebastian make upon receipt of the payments? Debit Unearned Service Revenue and credit Service Revenue Debit Cash and credit Accounts Receivable O Debit Cash and credit Service Revenue Debit Accounts Receivable and credit Service Revenue Save for Later Attempts: 0 of 1 used Submit Answer
View Policies Current Attempt in Progress For each of the following accounts, indicate the effect of a debit or a credit on the account and the normal balance. Debit Effect Credit Effect Normal Balance Accounts Payable. a. b. < > < > < d. Advertising Expense. Service Revenue. Accounts Receivable. Retained Earnings. Dividends. < e. f. eTextbook and Media Save for Later Attempts: 0 of 3 used Submit Answer View Policies Current Attempt in Progress For each of the following...
Question 7 View Policies Show Attempt History Current Attempt in Progress – Your answer is partially correct. The following information is available for Carla Vista Co. Accounts receivable $2,300 Cash Accounts payable 4.400 Supplies Interest payable 520 Unearned service revenue Salaries and wages expense 5.100 Service revenue Notes payable 32.500 Salaries and wages payable Common stock 55,700 Depreciation expense Inventory 2.880 Equipment (net) $6,230 3,770 900 42,700 890 780 108,500 Using the information above, prepare a balance sheet as of...
Question 8 View Policies Current Attempt in Progress Swifty Corporation had the following accounts and balances: Accounts payable Accounts receivable Buildings en el Cash $29900 Equipment 5400 Land ? Unearned service revenue 15100 Total stockholders' $35400 34400 9600 Cash equity If the balance of the Bulldings account was $73100 and $4600 of Accounts Payable were paid in cash, what would be the balance of the total stockholders' equity? $174400 $139000 $133500 $123900 A Ad VIS
Question 4 View Policies Current Attempt in Progress Presented here are liability items for Tamarisk Inc. at December 31, 2022. Accounts payable Notes payable (due May 1, 2023) Bonds payable (due 2026) Unearned rent revenue Discount on bonds payable $196,250 FICA taxes payable $9,750 25,000 Interest payable 50,000 1.125,000 Notes payable (due 2024) 100,000 300,000 Income taxes payable 4,375 51,250 Sales taxes payable 2,125 Prepare the liabilities section of Tamarisk's balance sheet. TAMARISK INC. Balance sheet (Partial)
--/10 Question 6 View Policies Current Attempt in Progress Below are some items found in the financial statements of Petra Zizler. Orthodontist. Indicate (a) whether each of the above items is an asset, liability, or part of owner's equity: and (b) which financial statement-income statement statement of owner's equity, or balance sheet-it would be reported on. The first one has been done for you as an example (a) (b) 1 Accounts payable Liability Balance Sheet 2. Accounts receivable abili 3...
Question 17 View Policies Current Attempt in Progress Presented here are liability items for Skysong, Inc. at December 31, 2017 Accounts payable Notes payable (due May 1, 2018) Bonds payable (due 2021) Unearned rent revenue Discount on bonds payable $298,300 FICA taxes payable $14,820 38,000 Interest payable 76,000 1.710,000 Notes payable (due 2019) 152,000 456,000 Income taxes payable 6,650 77,900 Sales taxes payable 3.230 Prepare the liabilities section of Skysong's balance sheet. SKYSONG, INC. Balance Sheet (Partial) e Textbook and...
Question 19 of 52 < -11 View Policies Current Attempt in Progress The following trial balance of Flounder Corporation does not balance, Credit FLOUNDER CORPORATION TRIAL BALANCE JUNE 30, 2020 Debit Cash $6,796 Accounts Receivable 7.770 Supplies 3,736 Equipment 9,500 Accounts Payable Common Stock Retained Earnings Service Revenue Office Expense 4,560 $32,362 $8,484 11,500 2,900 6,798 $29,682 An examination of the ledger shows these errors. 1. 2. 3. Cash received from a customer on account was recorded (both debit and...
sions ences orations Question 9 View Policies Current Attempt in Progress LUS Support Oriole Company had the following accounts and balances: Accounts payable Accounts receivable Buildings $29100 Equipment 4650 Land ? Unearned service revenue 14950 Total stockholders equity $34100 35000 10400 Cash If total stockholder's equity was $92300, what would be the balance of the Buildings Account? $35000 $142700 $43100 $132700
Question 5 of 6 < - /5 E View Policies Current Attempt in Progress Selected transactions from the journal of Kingbird, Inc. during its first month of operations are presented here. Account Titles Debit Credit Date Aug 1 Cash 7,800 7,800 10 1,750 1.750 12 6,600 Common Stock Cash Service Revenue Equipment Cash Notes Payable Accounts Receivable Service Revenue Cash Accounts Receivable 1,700 4,900 25 2,810 2,810 31 730 730 (a) Post the transactions to T-accounts. (Post entries in the...
Question 12 of 25 -11 View Policies Current Attempt in Progress Sebastian Belle, CPA, has billed her clients for services performed. She subsequently receives payments from her clients. Whater will Sebastian make upon receipt of the payments? Debit Unearned Service Revenue and credit Service Revenue Debit Cash and credit Accounts Receivable O Debit Cash and credit Service Revenue Debit Accounts Receivable and credit Service Revenue Save for Later Attempts: 0 of 1 used Submit Answer
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