Hi there, can you please answer questions 19 and 20. Also, the circled answer may or may not be correct and please disregard the blue scribble marks
Homework Answers
19)
Retained Earnings = RE
Opening RE = Closing RE + Dividend - Net income
= $10 + $3 - $4
= $9 Opening RE in 2018
2018 Opening RE is Closing RE in 2017
Closing RE in 2017 = $9
Opening RE = Closing RE + Dividend - Net income
= $9 + $3 - $5
= $7 Opening RE in 2017
Option a.
20)
Dec 31st, 2017 balance is opening balance for 2018
Opening balance in 2018 = $350,000
Cash collected = Opening balance + Sales on account + Closing balance
= $350,000 + $1,550,000 - $550,000
= $1,350,000
Option c.
The circled answers are correct
Add Answer to:
Hi there, can you please answer questions 19 and 20. Also, the
circled answer may or...
Hi there, can you please answer questions 8 and 9. Also, the circled answer may or...
Hi there, can you please answer questions 8 and 9. Also, the
circled answer may or may not be correct and please disregard the
blue scribble marks
ane Doe's Corporation's fiscal year ends on January 31. On November 1, 2018, Jane Doe TTowed $100,000. The principal and 8% interest are payable on October 31, 2019. What mal entry would be required to record the payment of the principal and interest on October 31, 2019. 100,000 9.00 a. Note payable Wien...
Hi there, can you please answer questions 10-12. Also, the circled answer may or may not...
Hi there, can you please answer questions 10-12. Also, the
circled answer may or may not be correct and please disregard the
blue scribble marks
10. Mirr Corporation was incorporated on January 1, 2019, with proceeds from the 15$ $750,000 in common shares and borrowed funds imon shares and borrowed funds of $110.000. During the first year of evenues from sales and consulting amounted to $82,000, and operating costs and expenses totaled $64,000. On December 15. Mirr declared a $3,000...
Hi there, can you please answer questions 13-18. they are all very short questions :) Also,...
Hi there, can you please answer questions 13-18. they are all
very short questions :) Also, the circled answer may or may not be
correct and please disregard the blue scribble marks
Use the following information to answer questions 13 - 15 inclusive. The income statement of Delaney Company for the year 2018 included the following items: Interest revenue Salaries expense Insurance expense $40,500 73,200 4,400 The following balances have been taken from Delaney Company's balance sheet: Dec. 31/2018 $10,400...
Hi there, can you please answer questions 5-7. they very short questions :). Also, the circled...
Hi there, can you please answer questions 5-7. they very short
questions :).
Also, the circled answers may or may not be correct.
5. Determine the cash payments made for rent based on the following information: Prepaid rent Balance, beginning of the period $3,000 Balance, end of the period 2,500 Assume that $5,000 of rent expired during the period and that all rent payments were made in cash. a. $5,500 b. $5,000 $4,500 . $7,500 6. On January 1, 2016...
Hi there, can you please answer questions 1-4. they are all very short :) Also, the...
Hi there, can you please answer questions 1-4. they are all very
short :) Also, the circled answer may or may not be correct and
please disregard the blue scribble marks
Enter Shift Part A (20 marks) he balance in the Prepaid Rent account before adjustment at the end of the year is $12,000 and represents three months rent starting on November 1. The adjusting entry required on December 31, assuming adjusting entries have not previously been made, is Debit...
Please explain your answer. Thank you. Learning Objective 5 P1-43A Preparing financial statements Picture Perfect Photography...
Please explain your answer. Thank you.
Learning Objective 5 P1-43A Preparing financial statements Picture Perfect Photography works weddings and prom-type parties. The balance of retained earnings was $16,000 at December 31, 2017. At December 31, 2018, the business's accounting records show these balances: b. Ending Retained Earnings $48,000 Insurance Expense $ 13,000 14,000 Cash Accounts Payable Advertising Expense Service Revenue Dividends $ 6,000 Accounts Receivable 42,000 Notes Payable 11,000 Retained Earnings, Dec. 31, 2018 4,000 Salaries Expense 75,000 Equipment 8,000...
I have tried the following method with an answer of -19800 but it doesn't work. Please...
I have tried the following method with an answer of -19800 but
it doesn't work. Please help.
The current assets and current liabilities sections of the balance sheet of Cullumber Co. appear as follows. Cullumber Co. Balance Sheet (Partial) As of December 31, 2017 Cash $18,500 Accounts payable $28,900 Accounts receivable $38,600 Notes payable 14,300 Less: Allowance for doubtful accounts 2,500 36,100 Unearned revenue 3,000 Inventory 61,900 Total current liabilities $46,200 Prepaid expenses 6,800 Total current assets $123,300 The following...
Please show how you got the retained earnings The current assets and current liabilities sections of...
Please show how you got the retained earnings
The current assets and current liabilities sections of the balance sheet of Cullumber Co. appear as follows. Cullumber Co. Balance Sheet (Partial) As of December 31, 2017 Cash $18,500 Accounts payable $28,900 Accounts receivable $38,600 Notes payable 14,300 Less: Allowance for doubtful accounts 2,500 36,100 Unearned revenue 3,000 Inventory 61,900 Total current liabilities $46,200 Prepaid expenses 6,800 Total current assets $123,300 The following errors in the corporation's accounting have been discovered: 1....
1 through 6 please and thank you need time as in to answer this or the...
1 through 6 please and thank you
need time as in to answer this or the time in the actual problem?
thanks again
Problem--Accounts Receivable (4 points each. 24 points total) Mega Multilayered Manufacturing ("Mega") was formed in 2017, and its fiscal year end is December 31st For all of the questions below, assume that on average 10.0% of its accounts receivable and 1.0% of its net credit sales are uncollecti ble (bad debts). 2017 and 2018 On December 31,...
please help with these accounting problems! all questions please and thank you! 19. Rosen Company receives...
please help with these accounting problems! all questions please
and thank you!
19. Rosen Company receives a $9,000, 3-month, 6% promissory note from Bay Company in settlement of an open accounts receivable. What entry will Rosen Company make upon receiving the note? A) Notes Receivable 9,135 Accounts Receivable-Bay Company 9,135 B) Notes Receivable 9,135 Accounts Receivable-Bay Company 9,000 Interest Revenue 135 C) Notes Receivable 9,000 Interest Receivable 135 Accounts Receivable Bay Company 9,000 Interest Revenue 135 D) Notes Receivable 9,000...
Hi there, can you please answer questions 8 and 9. Also, the
circled answer may or may not be correct and please disregard the
blue scribble marks
ane Doe's Corporation's fiscal year ends on January 31. On November 1, 2018, Jane Doe TTowed $100,000. The principal and 8% interest are payable on October 31, 2019. What mal entry would be required to record the payment of the principal and interest on October 31, 2019. 100,000 9.00 a. Note payable Wien...
Hi there, can you please answer questions 10-12. Also, the
circled answer may or may not be correct and please disregard the
blue scribble marks
10. Mirr Corporation was incorporated on January 1, 2019, with proceeds from the 15$ $750,000 in common shares and borrowed funds imon shares and borrowed funds of $110.000. During the first year of evenues from sales and consulting amounted to $82,000, and operating costs and expenses totaled $64,000. On December 15. Mirr declared a $3,000...
Hi there, can you please answer questions 13-18. they are all
very short questions :) Also, the circled answer may or may not be
correct and please disregard the blue scribble marks
Use the following information to answer questions 13 - 15 inclusive. The income statement of Delaney Company for the year 2018 included the following items: Interest revenue Salaries expense Insurance expense $40,500 73,200 4,400 The following balances have been taken from Delaney Company's balance sheet: Dec. 31/2018 $10,400...
Hi there, can you please answer questions 5-7. they very short
questions :).
Also, the circled answers may or may not be correct.
5. Determine the cash payments made for rent based on the following information: Prepaid rent Balance, beginning of the period $3,000 Balance, end of the period 2,500 Assume that $5,000 of rent expired during the period and that all rent payments were made in cash. a. $5,500 b. $5,000 $4,500 . $7,500 6. On January 1, 2016...
Hi there, can you please answer questions 1-4. they are all very
short :) Also, the circled answer may or may not be correct and
please disregard the blue scribble marks
Enter Shift Part A (20 marks) he balance in the Prepaid Rent account before adjustment at the end of the year is $12,000 and represents three months rent starting on November 1. The adjusting entry required on December 31, assuming adjusting entries have not previously been made, is Debit...
Please explain your answer. Thank you.
Learning Objective 5 P1-43A Preparing financial statements Picture Perfect Photography works weddings and prom-type parties. The balance of retained earnings was $16,000 at December 31, 2017. At December 31, 2018, the business's accounting records show these balances: b. Ending Retained Earnings $48,000 Insurance Expense $ 13,000 14,000 Cash Accounts Payable Advertising Expense Service Revenue Dividends $ 6,000 Accounts Receivable 42,000 Notes Payable 11,000 Retained Earnings, Dec. 31, 2018 4,000 Salaries Expense 75,000 Equipment 8,000...
I have tried the following method with an answer of -19800 but
it doesn't work. Please help.
The current assets and current liabilities sections of the balance sheet of Cullumber Co. appear as follows. Cullumber Co. Balance Sheet (Partial) As of December 31, 2017 Cash $18,500 Accounts payable $28,900 Accounts receivable $38,600 Notes payable 14,300 Less: Allowance for doubtful accounts 2,500 36,100 Unearned revenue 3,000 Inventory 61,900 Total current liabilities $46,200 Prepaid expenses 6,800 Total current assets $123,300 The following...
Please show how you got the retained earnings
The current assets and current liabilities sections of the balance sheet of Cullumber Co. appear as follows. Cullumber Co. Balance Sheet (Partial) As of December 31, 2017 Cash $18,500 Accounts payable $28,900 Accounts receivable $38,600 Notes payable 14,300 Less: Allowance for doubtful accounts 2,500 36,100 Unearned revenue 3,000 Inventory 61,900 Total current liabilities $46,200 Prepaid expenses 6,800 Total current assets $123,300 The following errors in the corporation's accounting have been discovered: 1....
1 through 6 please and thank you
need time as in to answer this or the time in the actual problem?
thanks again
Problem--Accounts Receivable (4 points each. 24 points total) Mega Multilayered Manufacturing ("Mega") was formed in 2017, and its fiscal year end is December 31st For all of the questions below, assume that on average 10.0% of its accounts receivable and 1.0% of its net credit sales are uncollecti ble (bad debts). 2017 and 2018 On December 31,...
please help with these accounting problems! all questions please
and thank you!
19. Rosen Company receives a $9,000, 3-month, 6% promissory note from Bay Company in settlement of an open accounts receivable. What entry will Rosen Company make upon receiving the note? A) Notes Receivable 9,135 Accounts Receivable-Bay Company 9,135 B) Notes Receivable 9,135 Accounts Receivable-Bay Company 9,000 Interest Revenue 135 C) Notes Receivable 9,000 Interest Receivable 135 Accounts Receivable Bay Company 9,000 Interest Revenue 135 D) Notes Receivable 9,000...
Most questions answered within 3 hours.
-
What are five tips in conducting knowledge assessment/literature
review research? Each of these tips needs to...
asked 7 minutes ago -
Antigen presenting cells link innate and adaptive immune
responses. In the theoretical scenario where phagosomes cannot...
asked 13 minutes ago -
Dealing with conflict, in my opinion, is a skill and an art. I
believe that those...
asked 49 minutes ago -
6. A long straight wire with circular cross section and radius
1.5 cm carries a 1.2...
asked 53 minutes ago -
Deacon Corporation has provided the following financial data
from its balance sheet and income statement:
Year...
asked 1 hour ago -
List and discuss at least three variables from everyday life for
which you expect the variable ...
asked 1 hour ago -
A high-pass filter consists of a 1.60 μF capacitor in series
with a 125 Ω resistor....
asked 1 hour ago -
A newly developed artificial intelligence has trouble
distinguishing hand-written numbers from hand-written alphabets.
There are pictures...
asked 2 hours ago -
The carbonate ion CO3 2- has multiple resonance structures.
a. Draw them and assign the hybridization...
asked 1 hour ago -
In doing an allocation for a basket purchase
Use the individual costs and the total market...
asked 2 hours ago -
what were the social political and economic causes and impacts of
the late 19th century urban...
asked 2 hours ago -
if the magnitude of a velocity vector is 10m/s and it
makes an angle of 45...
asked 2 hours ago