Homework Answers
Answer to Question 1.
Blossom
Company:
Supplies on Hand, May 31, 2021 = Supplies on Hand, May 31, 2020 +
Supplied Purchased during the year – Supplies used during the
year
$655 = $780 + $3,755 - Supplies used during the year
Supplies used during the year = $3,880
Sunland
Company:
Supplies on Hand, May 31, 2021 = Supplies on Hand, May 31, 2020 +
Supplied Purchased during the year – Supplies used during the
year
Supplies on Hand, May 31, 2021 = $955 + $3,055 - $2,655
Supplies on Hand, May 31, 2021 = $1,355
Kingbird
Co.:
Supplies on Hand, May 31, 2021 = Supplies on Hand, May 31, 2020 +
Supplied Purchased during the year – Supplies used during the
year
$1,705 = $1,305 + $2,305 - Supplies used during the year
Supplies used during the year = $1,905
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Question 1 View Policies Current Attempt in Progress Calculate the missing information in each of the...
Conferences Credit Colaborations Debit $5,980 890 1.240 9.792 WileyPLUS Support Cash Accounts Receivable Supplies Equipment Accumulated...
Conferences Credit Colaborations Debit $5,980 890 1.240 9.792 WileyPLUS Support Cash Accounts Receivable Supplies Equipment Accumulated Depreciation-Equipment Unearned Revenue Wildhorse, Capital Totals SLOBO 1.400 12,422 $17.902 $17.902 During the month of July, the following selected transactions took places July 2 Paid $810 cash for rent for July August, and September 10 Purchased $120 of supplies for cash. 14 Collected the full balance of accounts receivable. 20 Received $760 cash from a customer for services to be provided in August 25...
Pharoah Company had the following trial balance at June 30, 2021 (its year end).
Pharoah Company had the following trial balance at June 30, 2021 (its year-end).During the month of July, the following selected transactions took place:July 2 Paid $ 780 cash for rent for July, August, and September.10 Purchased $ 100 of supplies for cash.14 Collected the full balance of accounts receivable.20 Received $ 720 cash from a customer for services to be provided in August.25 Provided $ 1,310 of services for a customer and immediately collected cash.Additional information:1. At July 31, the...
Blossom Company had the following trial balance at June 30, 2021 (its year end). Credit Cash Accounts Receivable S...
Blossom Company had the following trial balance at June 30, 2021 (its year end). Credit Cash Accounts Receivable Supplies Equipment Accumulated Depreciation-Equipment Unearned Revenke Blossom, Capital Totals Debit $5,700 700 1,100 8,640 $3,600 1,300 11,240 $16,140 $16,140 During the month of July, the following selected transactions took place: July 2 Pald $600 cash for rent for July August, and September 10 Purchased $100 of supplies for cash. 14 Collected the full balance of accounts receivable. 20 Received $600 cash from...
--/15 Question 7 View Policies Current Attempt in Progress On July 31, 2021, Lee Meche, MD,...
--/15 Question 7 View Policies Current Attempt in Progress On July 31, 2021, Lee Meche, MD, had the following balances in the ledger for his medical practice: Cash $8.760, Accounts Receivable $2,630, Supplies $530, Equipment $15.300, Notes Payable $10,590, Accounts Payable $810, L. Meche, Capital $15,000, L. Meche, Drawings $5,330, Service Revenue $9.260. Rent Expense $1,010, and Salaries Expense $2,100. Transactions during August 2021 follow: General Journal Date Account Titles Debit Credit 2021 Aug. 1 Rent Expense 1.010 Cash 1.010...
onments Question 28 View Policies Current Attempt in Progress Wadhorse Co. is the new owner of...
onments Question 28 View Policies Current Attempt in Progress Wadhorse Co. is the new owner of Wildhorse's Computer Services. At the end of July 2017. her first month of ownership, Wildhorse is trying to prepare monthly financial statements. She has the following information for the month book PLUS S ort 1. At July 31. Wildhorse owed employees $2.000 in salaries that the company will pay in August 2. On July 1, Wildhorse borrowed 518,000 from a local bank on a...
Question 9 of 12 -/1 = View Policies Current Attempt in Progress Monty Corp., opened an...
Question 9 of 12 -/1 = View Policies Current Attempt in Progress Monty Corp., opened an incorporated dental practice on January 1, 2022. During the first month of operations, the following transactions occurred. 1. 2 3. Performed services for patients who had dental plan insurance. At January 31, $983 of such services was completed but not yet billed to the insurance companies. Utility expenses incurred but not paid or recorded prior to January 31 totaled $585. Purchased dental equipment on...
Question 4 View Policies Current Attempt in Progress Culver Repair Shop had the following transactions during...
Question 4 View Policies Current Attempt in Progress Culver Repair Shop had the following transactions during the first month of business as a proprietorship. Journalize the transactions. Of no entry is required se manually Invested $12,590 cash and $2.450 of equipment in the business. 7 Purchased supplies on account for $520. (Debit asset account.) 12 Performed services for clients, for which $1,180 was collected in cash and 5646 was billed to the clients. 15 Paid August rent $589. 19 Counted...
Pharoah Company had the following trial balance at June 30, 2021 (its year end). Collaborations Wiley...
Pharoah Company had the following trial balance at June 30, 2021 (its year end). Collaborations Wiley PLUS Support Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Equipment Unearned Revenue Pharoah. Capital Totals Debit Credit $6,000 860 1.260 9.864 $4.110 1.490 12,384 $17,984 $17.984 During the month of July, the following selected transactions took place: July 2 Paid $780 cash for rent for July August, and September 10 Purchased $100 of supplies for cash. 14 Collected the full balance of accounts receivable....
Question 10 of 10 -/1 E View Policies Current Attempt in Progress The following, listed in...
Question 10 of 10 -/1 E View Policies Current Attempt in Progress The following, listed in alphabetical order, are the adjusted accounts of Wildhorse Inc as of December 31, 2022: Accounts Payable $5,070, Accounts Receivable $2,210, Accumulated Depreciation-Equipment $7,800, Bonds Payable $40,300, Cash $1,690, Common Stock $26,000, Equipment $65,000, Notes Payable (current) $2,860, Inventory $4,810, Notes Payable (long term) $6,500, Land $33,800, Retained Earnings $19,500, and Supplies $520. Prepare a classified balance sheet in good form as of December 31,...
Question 6 --/5 View Policies Current Attempt in Progress The following trial balance of Metlock Company...
Question 6 --/5 View Policies Current Attempt in Progress The following trial balance of Metlock Company does not balance. Your review of the ledger reveals the following. (a) Each account had a normal balance. (b) The debit footings in Prepaid Insurance, Accounts Payable, and Property Tax Expense were each understated $92. (c) A transposition error was made in Accounts Receivable and Service Revenue; the correct balances for Accounts Receivable and Service Revenue are $2.640 and $6.790, respectively. (d) A debit...
Conferences Credit Colaborations Debit $5,980 890 1.240 9.792 WileyPLUS Support Cash Accounts Receivable Supplies Equipment Accumulated Depreciation-Equipment Unearned Revenue Wildhorse, Capital Totals SLOBO 1.400 12,422 $17.902 $17.902 During the month of July, the following selected transactions took places July 2 Paid $810 cash for rent for July August, and September 10 Purchased $120 of supplies for cash. 14 Collected the full balance of accounts receivable. 20 Received $760 cash from a customer for services to be provided in August 25...
Blossom Company had the following trial balance at June 30, 2021 (its year end). Credit Cash Accounts Receivable Supplies Equipment Accumulated Depreciation-Equipment Unearned Revenke Blossom, Capital Totals Debit $5,700 700 1,100 8,640 $3,600 1,300 11,240 $16,140 $16,140 During the month of July, the following selected transactions took place: July 2 Pald $600 cash for rent for July August, and September 10 Purchased $100 of supplies for cash. 14 Collected the full balance of accounts receivable. 20 Received $600 cash from...
--/15 Question 7 View Policies Current Attempt in Progress On July 31, 2021, Lee Meche, MD, had the following balances in the ledger for his medical practice: Cash $8.760, Accounts Receivable $2,630, Supplies $530, Equipment $15.300, Notes Payable $10,590, Accounts Payable $810, L. Meche, Capital $15,000, L. Meche, Drawings $5,330, Service Revenue $9.260. Rent Expense $1,010, and Salaries Expense $2,100. Transactions during August 2021 follow: General Journal Date Account Titles Debit Credit 2021 Aug. 1 Rent Expense 1.010 Cash 1.010...
onments Question 28 View Policies Current Attempt in Progress Wadhorse Co. is the new owner of Wildhorse's Computer Services. At the end of July 2017. her first month of ownership, Wildhorse is trying to prepare monthly financial statements. She has the following information for the month book PLUS S ort 1. At July 31. Wildhorse owed employees $2.000 in salaries that the company will pay in August 2. On July 1, Wildhorse borrowed 518,000 from a local bank on a...
Question 9 of 12 -/1 = View Policies Current Attempt in Progress Monty Corp., opened an incorporated dental practice on January 1, 2022. During the first month of operations, the following transactions occurred. 1. 2 3. Performed services for patients who had dental plan insurance. At January 31, $983 of such services was completed but not yet billed to the insurance companies. Utility expenses incurred but not paid or recorded prior to January 31 totaled $585. Purchased dental equipment on...
Question 4 View Policies Current Attempt in Progress Culver Repair Shop had the following transactions during the first month of business as a proprietorship. Journalize the transactions. Of no entry is required se manually Invested $12,590 cash and $2.450 of equipment in the business. 7 Purchased supplies on account for $520. (Debit asset account.) 12 Performed services for clients, for which $1,180 was collected in cash and 5646 was billed to the clients. 15 Paid August rent $589. 19 Counted...
Pharoah Company had the following trial balance at June 30, 2021 (its year end). Collaborations Wiley PLUS Support Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Equipment Unearned Revenue Pharoah. Capital Totals Debit Credit $6,000 860 1.260 9.864 $4.110 1.490 12,384 $17,984 $17.984 During the month of July, the following selected transactions took place: July 2 Paid $780 cash for rent for July August, and September 10 Purchased $100 of supplies for cash. 14 Collected the full balance of accounts receivable....
Question 10 of 10 -/1 E View Policies Current Attempt in Progress The following, listed in alphabetical order, are the adjusted accounts of Wildhorse Inc as of December 31, 2022: Accounts Payable $5,070, Accounts Receivable $2,210, Accumulated Depreciation-Equipment $7,800, Bonds Payable $40,300, Cash $1,690, Common Stock $26,000, Equipment $65,000, Notes Payable (current) $2,860, Inventory $4,810, Notes Payable (long term) $6,500, Land $33,800, Retained Earnings $19,500, and Supplies $520. Prepare a classified balance sheet in good form as of December 31,...
Question 6 --/5 View Policies Current Attempt in Progress The following trial balance of Metlock Company does not balance. Your review of the ledger reveals the following. (a) Each account had a normal balance. (b) The debit footings in Prepaid Insurance, Accounts Payable, and Property Tax Expense were each understated $92. (c) A transposition error was made in Accounts Receivable and Service Revenue; the correct balances for Accounts Receivable and Service Revenue are $2.640 and $6.790, respectively. (d) A debit...
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