Homework Answers
Solution 1:
total amount of withdrawls for the year = Amount debited to S. ball capital = $6,500
Hence first option is correct.
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a summary of ledger accounts appear below for S. Ball
Question 1 (10 points) A summary...
Question 3 (10 points) A summary of selected ledger accounts appear below for S. Ball for...
Question 3 (10 points) A summary of selected ledger accounts appear below for S. Ball for the current calendar year. Answer questions 1 through 4 based on this information. S. Ball, Capital S Ball, Withdrawals 1231 6,500 1 1 27.000 3:31 2.000 1231 6,000 1231 4.250 10 31 3,000 12:22 1.000 Income Summary 1231 12.750 1231 17.000 12/31 4.250 3. What was the total revenue? 50/3 $27,750 $17,000 O $12.750 $10,250
Question 2 (10 points) A summary of selected ledger accounts appear below for S. Ball for the current calendar y...
Question 2 (10 points) A summary of selected ledger accounts appear below for S. Ball for the current calendar year Answer questions 1 through 4 based on this information. S. Ball, Capital 1/1 27,000 12/31 4,250 S Ball, Withdrawals 3/31 2,000 10/31 3,000 12/31 6,500 12/31 6,000 12/22 1,000 Income Summary 12/31 17,000 12/31 12,750 12/31 4,250 2.What was the net income? $1000 O$4250 $6500 $2000 SJ OCT 27 Question 5 (6U points) Classify each of the following account types...
A summary of selected ledger accounts appears below for Alberto's Plumbing Services for the current calendar...
A summary of selected ledger accounts appears below for Alberto's Plumbing Services for the current calendar year-end. Alberto, Capital 12/31 8,500 1/1 6,500 12/31 15,000 Alberto, Drawing 6/30 3,500 12/31 15,000 11/30 5,000 Net income for the period is a. $18,500 b. $33,500 c. $13,000 d. $15,000 Please give the steps to answer the question
A summary of selected transactions in ledger accounts appears below for Alberto’s Plumbing Services for the...
A summary of selected transactions in ledger accounts appears below for Alberto’s Plumbing Services for the current calendar year-end. Common Stock 1/1 6,819 Retained Earnings 12/31 7,881 12/31 23,998 Dividends 3/30 2,489 12/31 7,881 9/30 5,392 Net income for the period is a.38,698 b.30,817 c.23,998 d.7,881
A summary of selected ledger accounts appears below for Alberto's Plumbing Services for the current calendar...
A summary of selected ledger accounts appears below for Alberto's Plumbing Services for the current calendar year-end. 12/31 Alberto, Capital 8,550 1/1 12/31 6,437 13,777 Alberto, Drawing 2,001 12/31 6,549 6/30 11/30 8,550 Net income for the period is Oa. $33,267 Ob. $6,437 Oc. $19,490 Od. $13,777
ASSIGNMENT 08 A01 Introduction to Accounting Directions: Be sure to save an electronic copy of your answer befor...
ASSIGNMENT 08 A01 Introduction to Accounting Directions: Be sure to save an electronic copy of your answer before submitting it to Ashworth College spelling and grammar. Sources must be cited in APA format. Your response should be four (4) double- spaced pages; refer to the "Assignment Format" page located on the Course Home page for specific format requirements. Part A (20 points) Prepare in proper form journal entries for the following transactions. Omit explanations. October 2 Owner made a cash...
PART II: PROBLEM 2 GENERAL LEDGER WITH ADJUSTED BALANCES APPEAR BELOW: FORMB Required: (1-4) Using the accounts in...
PART II: PROBLEM 2 GENERAL LEDGER WITH ADJUSTED BALANCES APPEAR BELOW: FORMB Required: (1-4) Using the accounts in the General Ledger below, prepare 4 closing entries in the General Journal Post the closing entries to the Ledger and then complete 05 (posting not graded) General Journal A CCOUNT Debit Credit ENTRYW 4 5. After CLOSING entries are posted ENDING CAPTIAL = $ indicate il CAPITAL balance is a debitor a credit GENERAL LEDGER ASSETS LIABILITIES OWNER'S EQUITY Service Revenue Z...
#2 GENERAL LEDGER LIABILITIES OWNER'S EQUITY Un Bal 10,000 Accounts Payable 3.300 Un Bal M. Capital...
#2 GENERAL LEDGER LIABILITIES OWNER'S EQUITY Un Bal 10,000 Accounts Payable 3.300 Un Bal M. Capital 22,100 Un Bal Un Ball M. Withdrawals 5,200 ACCOUNTS REC Salaries Payable Un Bal 26,900 Legal Fees Revenues 54,400 Un Bal PREPAID INSURANCE Un Ball 1,800 Uneared Legal Fees Utilities Expense S.000 Un Bal Office Supplies 2,000 Office Supplies Eup Office Equipment 5,000 Salaries Expense 26,000 Un Ball Un Bal Accumulated Depr. OE 1,500 Un Bal Insurance Expense Depreciation Expense 13 Compute balances of...
Use the May 31 fiscal year-end information from the following ledger accounts (assume that all accounts...
Use the May 31 fiscal year-end information from the following ledger accounts (assume that all accounts have normal balances). General Ledger M. Muncel, Capital Acct. No. 301 Salaries Expense Acct. No. 622 Date PR Debit Credit Balance Date PR Debit Credit Balance May 31 G2 40,000 May 31 G2 20,000 M. Muncel, Withdrawals Acct. No. 302 Insurance Expense Acct. No. 637 Date PR Debit Credit Balance Date PR Debit Credit Balance May 31 G2 22,000 May 31 G2 4,400 Services...
question 4 Able Fastners Co. has a balance in its Accounts Receivable general ledger control account of S 10,000 on January 1, 2019. The subsidiary ledger contains three vendor nts: Jones Company, bal...
question 4
Able Fastners Co. has a balance in its Accounts Receivable general ledger control account of S 10,000 on January 1, 2019. The subsidiary ledger contains three vendor nts: Jones Company, balance of s 3,000; Keller Company, balance of $ 1,000, arson Company. The combined subsidiary ledger account balances of Jones 4 Com om,Keller Company, and Larson Company at January 1, 2019 agree to the Accounts unts receivable general ledger control account balance at such date. During January 2019,...
Question 3 (10 points) A summary of selected ledger accounts appear below for S. Ball for the current calendar year. Answer questions 1 through 4 based on this information. S. Ball, Capital S Ball, Withdrawals 1231 6,500 1 1 27.000 3:31 2.000 1231 6,000 1231 4.250 10 31 3,000 12:22 1.000 Income Summary 1231 12.750 1231 17.000 12/31 4.250 3. What was the total revenue? 50/3 $27,750 $17,000 O $12.750 $10,250
Question 2 (10 points) A summary of selected ledger accounts appear below for S. Ball for the current calendar year Answer questions 1 through 4 based on this information. S. Ball, Capital 1/1 27,000 12/31 4,250 S Ball, Withdrawals 3/31 2,000 10/31 3,000 12/31 6,500 12/31 6,000 12/22 1,000 Income Summary 12/31 17,000 12/31 12,750 12/31 4,250 2.What was the net income? $1000 O$4250 $6500 $2000 SJ OCT 27 Question 5 (6U points) Classify each of the following account types...
A summary of selected ledger accounts appears below for Alberto's Plumbing Services for the current calendar year-end. 12/31 Alberto, Capital 8,550 1/1 12/31 6,437 13,777 Alberto, Drawing 2,001 12/31 6,549 6/30 11/30 8,550 Net income for the period is Oa. $33,267 Ob. $6,437 Oc. $19,490 Od. $13,777
ASSIGNMENT 08 A01 Introduction to Accounting Directions: Be sure to save an electronic copy of your answer before submitting it to Ashworth College spelling and grammar. Sources must be cited in APA format. Your response should be four (4) double- spaced pages; refer to the "Assignment Format" page located on the Course Home page for specific format requirements. Part A (20 points) Prepare in proper form journal entries for the following transactions. Omit explanations. October 2 Owner made a cash...
PART II: PROBLEM 2 GENERAL LEDGER WITH ADJUSTED BALANCES APPEAR BELOW: FORMB Required: (1-4) Using the accounts in the General Ledger below, prepare 4 closing entries in the General Journal Post the closing entries to the Ledger and then complete 05 (posting not graded) General Journal A CCOUNT Debit Credit ENTRYW 4 5. After CLOSING entries are posted ENDING CAPTIAL = $ indicate il CAPITAL balance is a debitor a credit GENERAL LEDGER ASSETS LIABILITIES OWNER'S EQUITY Service Revenue Z...
#2 GENERAL LEDGER LIABILITIES OWNER'S EQUITY Un Bal 10,000 Accounts Payable 3.300 Un Bal M. Capital 22,100 Un Bal Un Ball M. Withdrawals 5,200 ACCOUNTS REC Salaries Payable Un Bal 26,900 Legal Fees Revenues 54,400 Un Bal PREPAID INSURANCE Un Ball 1,800 Uneared Legal Fees Utilities Expense S.000 Un Bal Office Supplies 2,000 Office Supplies Eup Office Equipment 5,000 Salaries Expense 26,000 Un Ball Un Bal Accumulated Depr. OE 1,500 Un Bal Insurance Expense Depreciation Expense 13 Compute balances of...
question 4
Able Fastners Co. has a balance in its Accounts Receivable general ledger control account of S 10,000 on January 1, 2019. The subsidiary ledger contains three vendor nts: Jones Company, balance of s 3,000; Keller Company, balance of $ 1,000, arson Company. The combined subsidiary ledger account balances of Jones 4 Com om,Keller Company, and Larson Company at January 1, 2019 agree to the Accounts unts receivable general ledger control account balance at such date. During January 2019,...
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