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Cash-Asset
Retained earnings - Stockholders equity
Cost of goods sold - Expenses
Salaries and wages - Expenses
Prepaid insurance - Asset
Inventory - Asset
Accounts receivable - Asset
Sales revenue - Revenue
Notes payable - Liabilities
Accounts Payable - Liability
Service revnue - revenue
Interest expense - Expense
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INTRO FINANCIAL ACCT (ACCT2001) apter 1 Graded The following items and amounts were taken from Whispering...
The following items and amounts were taken from Skysong, Inc.'s 2017 income statement and balance sheet...
The following items and amounts were taken from Skysong, Inc.'s 2017 income statement and balance sheet Cash Retained earnings Cost of goods sold Salaries and wages expense Prepaid insurance Inventory Accounts receivable Sales revenue Notes payable Accounts payable Service revenue Interest expense $ 94,300 122,000 438,800 118,800 8,100 64,700 87,400 583,700 6,800 53,200 5,400 1,850 In each case, identify whether the item is an asset, liability, stockholders' equity, revenue, or expense item. Asset Cash Stockholders' Equity Retained earnings Expense Cost...
In Accountant The following items and amounts were taken from Cullumber Company's 2022 income statement and...
In Accountant
The following items and amounts were taken from Cullumber Company's 2022 income statement and balance sheet. Cash Retained earnings Cost of goods sold Salaries and wages expense Prepaid insurance Inventory $ 86,400 Accounts receivable $ 90,400 121,700 Sales revenue 586,000 436,500 Notes payable 6,400 117,700 Accounts payable 55,000 8,100 Service revenue 4,500 64,300 Interest expense 1,700 (a) In each case, identify whether the item is an asset, liability, stockholders' equity, revenue, or expense item. Cash Retained earnings Cost...
These items are taken from the financial statements of Whispering Winds Corp. at December 31, 2017....
These items are taken from the financial statements of Whispering Winds Corp. at December 31, 2017. $103,684 12,348 3,136 11,603 80,752 59,976 764 Buildings Accounts receivable Prepaid insurance Cash Equipment Land Insurance expense Depreciation expense Interest expense Common stock Retained earnings (January 1, 2017) Accumulated depreciation-buildings Accounts payable Notes payable Accumulated depreciation equipment Interest payable Service revenue 5,194 2,548 58,800 39,199 44,688 9,310 91,728 18,346 3,528 14,406 Prepare a classified balance sheet. Assume that $13,328 of the note payable will...
HT RESOURCES st#1 ACCT Credit ercise 1-09 1.10 2-05 3-02 Exercise 1-10 The following items and...
HT RESOURCES st#1 ACCT Credit ercise 1-09 1.10 2-05 3-02 Exercise 1-10 The following items and amounts were taken from Ivanhoe Company's 2022 Income statement and balance sheet. Cash $ 90,300 Accounts receivable $ 87,800 Retained earnings 122,500 Sales revenue 583,900 Cost of goods sold 436,800 Notes payable 6,200 Salaries and wages expense 116,400 Accounts payable 53,900 Prepaid insurance 7,900 Service revenue 4,900 Inventory 64,200 Interest expense 1,770 core Results by Study In each case, identify whether the item is...
Identify financial statement components and prepare income statement. E1-8 The following items and amounts were taken...
Identify financial statement components and prepare income statement. E1-8 The following items and amounts were taken from Lonyear Inc.'s 2017 income statement and balance sheet Cash Accounts LO 3), C Retained earnings Cost of goods sold Salaries and wages 84,700 receivable 123,192 438,458 115,131 88,419 Sales revenue 584,951 6,499 49,384 Notes payable Accounts expense payable Prepaid insurance 7,818 Service revenue4,806 Inventory 64,618 Interest expense 1,882 Instructions (a) In each, case, identify on the blank line whether the item is an...
Journalize the adjusting entries on May 31. The Whispering Winds Corp.opened for business on May 1,...
Journalize the adjusting entries on May 31.
The Whispering Winds Corp.opened for business on May 1, 2022. Its trial balance before adjustment on May 31 is as follows. Whispering Winds Corp. Trial Balance May 31, 2022 Credit Account Number 101 126 130 Debit $3,430 2,042 2,352 11,760 58,800 14,160 140 141 149 200 Cash Supplies Prepaid Insurance Land Buildings Equipment Notes Payable Accounts Payable Unearned Rent Revenue Common Stock Rent Revenue Advertising Expense Salaries and Wages Expense Utilities Expense 201...
The following items and amounts were taken from Crane Company's 2022 income statement and balance sheet....
The following items and amounts were taken from Crane Company's 2022 income statement and balance sheet. 6,500 Cash Retained earnings Cost of goods sold Salaries and wages expense Prepaid insurance Inventory $ 84,800 Accounts receivable $ 89,300 122,900 Sales revenue 580,500 437,300 Notes payable 115,700 Accounts payable 52,100 7,800 Service revenue 4,900 65,000 Interest expense 1,860 repare an income statement for Crane Company for the year ended December 31, 2022. CRANE COMPANY Income Statement
The following items and amounts were taken from Oriole Company's 2022 income statement and balance sheet,...
The following items and amounts were taken from Oriole Company's 2022 income statement and balance sheet, the end of its first year of operations. $ 54,900 $ 2,500 Equipment, net Interest expense 800 Depreciation expense Interest payable 3,900 Notes payable 11,000 Supplies 4,700 Sales revenue 52,500 Common stock 21,200 Cash 3,600 Retained earnings Salaries and wages expense 15,000 Supplies expense 900 (a) In each case, identify whether the item is an asset, liability, stockholders' equity, revenue, or expense item. Interest...
Exercise 1-8 (Part Level Submission) The following items and amounts were taken from Metlock, Inc.'s 2017...
Exercise 1-8 (Part Level Submission) The following items and amounts were taken from Metlock, Inc.'s 2017 income statement and balance sheet. $ 85,100 Cash Retained earnings 124,400 Cost of goods sold 435,100 Salaries and wages expense 118,800 7,800 Prepaid insurance Inventory 64,500 Accounts receivable 90,000 Sales revenue 593,100 Notes payable 6,600 Accounts payable 56,700 Service revenue 5,400 Interest expense 1,880 Prepare an income statement for Metlock, Inc. for the year ended December 31, 2017. Metlock, Inc. Income Statement %24
Whispering Winds Company’s trial balance at December 31, 2019, is presented below. All 2019 transactions have...
Whispering Winds Company’s trial balance at December 31, 2019, is presented below. All 2019 transactions have been recorded except for the items described following the trial balance. Debit Credit Cash $28,000 Accounts Receivable 37,000 Notes Receivable 9,900 Interest Receivable –0– Inventory 36,400 Prepaid Insurance 3,720 Land 21,300 Buildings 156,000 Equipment 57,000 Patents 10,100 Allowance for Doubtful Accounts $450 Accumulated Depreciation—Buildings 52,000 Accumulated Depreciation—Equipment 22,800 Accounts Payable 27,500 Salaries and Wages Payable –0– Unearned Rent Revenue 3,600 Notes Payable (due in...
The following items and amounts were taken from Skysong, Inc.'s 2017 income statement and balance sheet Cash Retained earnings Cost of goods sold Salaries and wages expense Prepaid insurance Inventory Accounts receivable Sales revenue Notes payable Accounts payable Service revenue Interest expense $ 94,300 122,000 438,800 118,800 8,100 64,700 87,400 583,700 6,800 53,200 5,400 1,850 In each case, identify whether the item is an asset, liability, stockholders' equity, revenue, or expense item. Asset Cash Stockholders' Equity Retained earnings Expense Cost...
In Accountant
The following items and amounts were taken from Cullumber Company's 2022 income statement and balance sheet. Cash Retained earnings Cost of goods sold Salaries and wages expense Prepaid insurance Inventory $ 86,400 Accounts receivable $ 90,400 121,700 Sales revenue 586,000 436,500 Notes payable 6,400 117,700 Accounts payable 55,000 8,100 Service revenue 4,500 64,300 Interest expense 1,700 (a) In each case, identify whether the item is an asset, liability, stockholders' equity, revenue, or expense item. Cash Retained earnings Cost...
These items are taken from the financial statements of Whispering Winds Corp. at December 31, 2017. $103,684 12,348 3,136 11,603 80,752 59,976 764 Buildings Accounts receivable Prepaid insurance Cash Equipment Land Insurance expense Depreciation expense Interest expense Common stock Retained earnings (January 1, 2017) Accumulated depreciation-buildings Accounts payable Notes payable Accumulated depreciation equipment Interest payable Service revenue 5,194 2,548 58,800 39,199 44,688 9,310 91,728 18,346 3,528 14,406 Prepare a classified balance sheet. Assume that $13,328 of the note payable will...
HT RESOURCES st#1 ACCT Credit ercise 1-09 1.10 2-05 3-02 Exercise 1-10 The following items and amounts were taken from Ivanhoe Company's 2022 Income statement and balance sheet. Cash $ 90,300 Accounts receivable $ 87,800 Retained earnings 122,500 Sales revenue 583,900 Cost of goods sold 436,800 Notes payable 6,200 Salaries and wages expense 116,400 Accounts payable 53,900 Prepaid insurance 7,900 Service revenue 4,900 Inventory 64,200 Interest expense 1,770 core Results by Study In each case, identify whether the item is...
Identify financial statement components and prepare income statement. E1-8 The following items and amounts were taken from Lonyear Inc.'s 2017 income statement and balance sheet Cash Accounts LO 3), C Retained earnings Cost of goods sold Salaries and wages 84,700 receivable 123,192 438,458 115,131 88,419 Sales revenue 584,951 6,499 49,384 Notes payable Accounts expense payable Prepaid insurance 7,818 Service revenue4,806 Inventory 64,618 Interest expense 1,882 Instructions (a) In each, case, identify on the blank line whether the item is an...
Journalize the adjusting entries on May 31.
The Whispering Winds Corp.opened for business on May 1, 2022. Its trial balance before adjustment on May 31 is as follows. Whispering Winds Corp. Trial Balance May 31, 2022 Credit Account Number 101 126 130 Debit $3,430 2,042 2,352 11,760 58,800 14,160 140 141 149 200 Cash Supplies Prepaid Insurance Land Buildings Equipment Notes Payable Accounts Payable Unearned Rent Revenue Common Stock Rent Revenue Advertising Expense Salaries and Wages Expense Utilities Expense 201...
The following items and amounts were taken from Crane Company's 2022 income statement and balance sheet. 6,500 Cash Retained earnings Cost of goods sold Salaries and wages expense Prepaid insurance Inventory $ 84,800 Accounts receivable $ 89,300 122,900 Sales revenue 580,500 437,300 Notes payable 115,700 Accounts payable 52,100 7,800 Service revenue 4,900 65,000 Interest expense 1,860 repare an income statement for Crane Company for the year ended December 31, 2022. CRANE COMPANY Income Statement
The following items and amounts were taken from Oriole Company's 2022 income statement and balance sheet, the end of its first year of operations. $ 54,900 $ 2,500 Equipment, net Interest expense 800 Depreciation expense Interest payable 3,900 Notes payable 11,000 Supplies 4,700 Sales revenue 52,500 Common stock 21,200 Cash 3,600 Retained earnings Salaries and wages expense 15,000 Supplies expense 900 (a) In each case, identify whether the item is an asset, liability, stockholders' equity, revenue, or expense item. Interest...
Exercise 1-8 (Part Level Submission) The following items and amounts were taken from Metlock, Inc.'s 2017 income statement and balance sheet. $ 85,100 Cash Retained earnings 124,400 Cost of goods sold 435,100 Salaries and wages expense 118,800 7,800 Prepaid insurance Inventory 64,500 Accounts receivable 90,000 Sales revenue 593,100 Notes payable 6,600 Accounts payable 56,700 Service revenue 5,400 Interest expense 1,880 Prepare an income statement for Metlock, Inc. for the year ended December 31, 2017. Metlock, Inc. Income Statement %24
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