Please provide rating...
income statement for the year ended January 2019 | |||
Service revenue | 93,000 | ||
Rental revenue | 11,000 | ||
Total revenue | 104,000 | ||
Less Cost of goods sold | 36,000 | ||
Gross profit | 68,000 | ||
Less other Expenses | |||
wages expense | 12000 | ||
Advertisement expenses | 17,000 | ||
Total expenses | 29000 | ||
Earning before tax | 39,000 | ||
Less Tax | 14000 | ||
Net income | 25,000 |
Question 2 2.5 pts The following information was taken from the accounting records of ABC Company...
The following information was taken from the accounting records of ABC Company for the period ended January 31, 2019: (at January 1, 2019) Cash Retained Earnings Advertising Expense Cost of Goods Sold Rental Revenue Accounts Payable Common Stock Accumulated Depreciation Accounts Receivable Income Tax Expense Inventory Wage Expense Sales Revenue Trademark Buildings and Land $29,000 $66,000 $17,000 $36,000 $11,000 $38,000 $72,000 $17,000 $45,000 $14,000 $51,000 $12,000 $93,000 $10,000 $83,000 Calculate the amount of net income earned by ABC Company in...
The following information was taken from the accounting records of ABC Company for the period ended January 31, 2019: Cash Retained Earnings Advertising Expense Cost of Goods Sold Rental Revenue Accounts Payable Common Stock Accumulated Depreciation $17,000 Accounts Receivable Income Tax Expense Inventory Wage Expense Sales Revenue Trademark Buildings and Land $29,000 $66,000 Cat January 1, 2019) $17,000 $36,000 $11,000 $38,000 $72,000 $45,000 $14,000 $51,000 $12,000 $93,000 $10,000 $83,000 Calculate the amount of net income earned by ABC Company in...
The following information was taken from the accounting records of ABC Company for the period ended January 31, 2019: Cash Retained Earnings Advertising Expense Cost of Goods Sold Rental Revenue Accounts Payable Common Stock Accumulated Depreciation $17,000 Accounts Receivable Income Tax Expense Inventory Wage Expense Sales Revenue Trademark Buildings and Land $29,000 $66,000 Cat January 1, 2019) $17,000 $36,000 $11,000 $38,000 $72,000 $45,000 $14,000 $51,000 $12,000 $93,000 $10,000 $83,000 Calculate the amount of net income earned by ABC Company in...
Lange Company purchased land for $75,000 in 2017. In 2019, the land was valued at $93,000. The land would appear on the company's December 31, 2019 balance sheet at: Group of answer choices $93,000 $18,000 $84,000 $75,000 either (a) or (d) could be correct Flag this Question Question 23 pts Classify the following accounts according to the appropriate financial statement category. Select your answer by clicking in the drop down box to the right of each account. Be careful with...
The following account balances were taken from ABC Company’s accounting records at December 31, 2020: Accounts Payable ............ $69,000 Accounts Receivable ......... $56,000 Advertising Expense ......... $33,000 Building .................... $94,000 Cash ........................ $31,000 Common Stock ................ $82,000 Cost of Goods Sold .......... $30,000 Dividends ................... $19,000 Equipment ................... $86,000 Income Tax Expense .......... $17,000 Interest Expense ............ $11,000 Inventory ................... $54,000 Notes Payable ............... $96,000 Rental Revenue .............. $62,000 Retained Earnings ........... $60,000 (at January 1, 2020) Salaries Expense ...............
Question 7 5.5 pts The following information was taken from the accounting records of zz, Inc. for the year ended December 31, 2019: $26,000 $41,000 95,000 $37,00€ Cash ....... Accounts Payable ....... Sales Revenue ......... Copyright .. Advertising Expense Common Stock ....... Utilities Payable ... Supplies ......... Cost of Goods Sold ... Rental Revenue ....... Building Notes Payable .... Utilities Expense Inventory Dividends Equipment .......... Retained Earnings ... Income Tax Expense ... Accounts Receivable ......... $97,000 $13,000 $16,000 $42,000 $29,000...
Question 6 6 pts The following information was taken from the accounting records of Z2, Inc. for the year ended December 31, 2019: Cash ...s...26,000 Accounts PayableS41,000 Sales Revenue 095,000 Copyrightvonco.$37,000 Advertising Expense n. Common Stock $97,000 Utilities Supplies$13,000 Cost of Goods sola . Rental Revenue $29,000 Building Notes Payable Utilities Expense$16,00 InventoryANH.v.$77,00 Dividendssowwspepo $11,000 Equipment$56,000 Retatned Earnings $59,000 Cat January 1, 2019) Income Tax Expense $18,000 Accounts Receivable$61, Payable $16,000 $42,000 UABEBEUSR$68,000 z ZZ, Inc reported total equity at...
The following account balances were taken from ABC Company's unadjusted trial balance at December 31, 2021: Accounts Payable ............ $58,000 Accounts Receivable .......... $64,000 Advertising Expense ......... $14,000 Building .................... $63,000 Cash ............... $30,000 Common Stock $94,000 Cost of Goods Sold ..... $45,000 Dividends ..... $12,000 Equipment ....... $68,000 Income Tax Expense ........ $17,000 Interest Revenue ..... $36,000 Inventory .......... $62,000 Notes Payable ....... $81,000 Rent Expense ......... $10,000 Retained Earnings .... $40,000 (at January 1, 2021) Sales Revenue ...........
The following account balances were taken from ABC Company's unadjusted trial balance at December 31, 2021: Accounts Payable Accounts Receivable ......... Advertising Expense .... Building ............ Cash ............... Common Stock ....... Cost of Goods Sold Dividends ... Equipment . . . . . . . ... Income Tax Expense Interest Revenue Inventory ......... Notes Payable ..... Rent Expense ....... Retained Earnings. Sales Revenue ...... Trademark ........... Unearned Revenue $58,000 $64,000 $14,000 $63,000 $30,000 $94,000 $45,000 $12,000 $68,000 $17,000 $36,000 $62,000...
JYF Company's accounting records at December 31, 2022 reported the following account balances: Cash $25,000 Retained Earnings $53,000 (at January 1, 2022) Prepaid Insurance $18,000 Advertising Expense $22,000 Cost of Goods Sold $29,000 Interest Revenue $31,000 Copyright $28,000 Supplies $12,000 Accounts Receivable $51,000 Common Stock $91,000 Accounts Payable $50,000 Patent $21,000 Notes Payable $86,000 (due March 1, 2023) Income Tax Expense $21,000 Inventory $59,000 Building $34,000 Salaries Expense $14,000 Sales Revenue $79,000 Dividends $11,000 Equipment $45,000 Calculate JYF Company's total...