Homework Answers
| Ans. | Option D $9,353 | |||
| Calculations and Explanations: | ||||
| Particulars | Amount | |||
| Cash | $6,224 | |||
| Accounts receivable | $2,435 | |||
| Prepaid expenses | $694 | |||
| Total current assets | $9,353 | |||
| *Equipment is non current asset. | ||||
| *Other items are related to liabilities and equity section of balance sheet | ||||
| & Revenues and expenses are related to income statement. | ||||
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December 31 Cash 6,224 Accounts Receivable 2,435 Prepaid Expenses 694 14,493 Equipment Accumulated Depreciation 3,806 Accounts...
December 31 Cash 5,703 Accounts Receivable 2,315 Prepaid Expenses 765 Equipment 15,560 Accumulated Depreciation 1,846 Accounts...
December 31 Cash 5,703 Accounts Receivable 2,315 Prepaid Expenses 765 Equipment 15,560 Accumulated Depreciation 1,846 Accounts Payable 1,670 Notes Payable 4,135 Common Stock 1,000 Retained Earnings 13,418 Dividends 608 Fees Earned 6,931 Wages Expense 2,684 Rent Expense 729 Utilities Expense 387 170 Depreciation Expense Miscellaneous Expense 79 Totals 29,000 29,000 Determine the total assets. Oa. $29,000 Ob. $14,418 Oc. $24,343 Od. $22,497
Calculator December 31 6,255 2,779 633 14,739 Cash Accounts Receivable Prepaid Expenses Equipment Accumulated Depreciation Accounts...
Calculator December 31 6,255 2,779 633 14,739 Cash Accounts Receivable Prepaid Expenses Equipment Accumulated Depreciation Accounts Payable Notes Payable Common Stock Retained Earnings Dividends Fees Earned Wages Expense Rent Expense Utilities Expense Depreciation Expense Miscellaneous Expense 9,207 1,466 4,449 1,000 4,958 790 8,202 2,543 798 458 182 105 29,282 Totals 29,282 Determine the net income (loss) for the period. Oa. Net income $3,326 Ob. Net loss $3,326 Oc. Net loss $4,116 Od. Net income $4,116 Next > Email Instructor Submit...
Cash 5,712 2,180 Accounts Receivable 658 Prepaid Expenses Equipment Accumulated Depreciation 15,080 2,866 Accounts Payable 1,433...
Cash 5,712 2,180 Accounts Receivable 658 Prepaid Expenses Equipment Accumulated Depreciation 15,080 2,866 Accounts Payable 1,433 Notes Payable 5,340 1,000 Common Stock Retained Earnings 11,364 Dividends 740 6,339 Fees Earned Wages Expense Rent Expense Utilities Expense Depreciation Expense Miscellaneous Expense 2,512 761 460 173 66 28,342 Totals 28,342 Determine the net income (loss) for the period. e 9 @ 12:30 AM 640 un
Calculator Adjusted Trial Balance December 31 Cash 6,901 Accounts Receivable 2,109 668 Prepaid Expenses Equipment Accumulated...
Calculator Adjusted Trial Balance December 31 Cash 6,901 Accounts Receivable 2,109 668 Prepaid Expenses Equipment Accumulated Depreciation 14,901 2,329 1,426 Accounts Payable Notes Payable 5,050 Common Stock 1,000 Retained Earnings 13,181 Dividends 899 Fees Earned 6,903 Wages Expense 2,865 Rent Expense 730 Utilities Expense 500 Depreciation Expense 203 Miscellaneous Expense 113 Totals 29,889 29,889 Determine the total assets. O
Cash 5,161 Accounts Receivable 2,312 Prepaid Expenses 722 Equipment Accumulated Depreciation 13,561 8,903 Accounts Payable !...
Cash 5,161 Accounts Receivable 2,312 Prepaid Expenses 722 Equipment Accumulated Depreciation 13,561 8,903 Accounts Payable ! 1,678 Notes Payable 4,368 1,000 Common Stock Retained Earnings Dividends 1,505 1,000 Fees Earned 7,824 Wages Expense 2,019 Rent Expense 700 Utilities Expense 488 Depreciation Expense 257 Miscellaneous Expense Totals 26,278 26,278 Determine the total liabilities for the period. 11
Calculator Cash 5,996 Accounts Receivable 2,944 752 14,901 Prepaid Expenses Equipment Accumulated Depreciation Accounts Payable Notes...
Calculator Cash 5,996 Accounts Receivable 2,944 752 14,901 Prepaid Expenses Equipment Accumulated Depreciation Accounts Payable Notes Payable 11,251 1,559 Common Stock Retained Earnings Dividends 5,565 1,000 2,477 7,860 2,981 Fees Earned Wages Expense Rent Expense Utilities Expense Depreciation Expense Miscellaneous Expense 729 420 184 101 Totals 29,712 29,712 Determine the total assets.
Cash 5,301 Accounts Receivable 2,494 Prepaid Expenses 706 Equipment 14,927 Accumulated Depreciation 5,092 Acc...
Cash 5,301 Accounts Receivable 2,494 Prepaid Expenses 706 Equipment 14,927 Accumulated Depreciation 5,092 Accounts Payable 1,783 Notes Payable 4,354 Common Stock 1,000 Retained Earnings 7,744 Dividends 697 Fees Earned 8,629 Wages Expense 2,943 Rent Expense 773 Utilities Expense 494 Depreciation Expense 169 Miscellaneous Expense 98 28,602 28,602 Totals Determine the current assets. 12:22 AM
Cash 5,712 Accounts Receivable 2,180 658 Prepaid Expenses Equipment 15,080 Accumulated Depreciation 2,866 Accounts Payable 1,433...
Cash 5,712 Accounts Receivable 2,180 658 Prepaid Expenses Equipment 15,080 Accumulated Depreciation 2,866 Accounts Payable 1,433 5,340 Notes Payable Common Stock 1,000 Retained Earnings 11,364 Dividends Fees Earned Wages Expense Rent Expense Utilities Expense Depreciation Expense Miscellaneous Expense ON HO IN LON - Totals 28,342 INT 28,342 Determine the net income Class) for the period nh 12:40 AM
6,000 2,100 1,000 500 150,000 Cash Accounts Receivable Prepaid Expenses Supplies Equipment Accumulated Depreciation Accounts Payable...
6,000 2,100 1,000 500 150,000 Cash Accounts Receivable Prepaid Expenses Supplies Equipment Accumulated Depreciation Accounts Payable Unearned Fees Notes Payable Bob Steely, Capital Bob Steely. Withdrawals Fees Earned Wages Expense Rent Expense Utilities Expense Depreciation Expense Miscellaneous Expense 15,000 6,200 4,000 14,000 19,000 8.000 154,900 25,000 12,000 3,400 5,000 100 Totals 213,100 213,100 In the space below, calculate: a) net income b) total assets c) total liabilities d) total current assets e) beginning balance of Owner's Equity for next year.
Calculator Accounts Receivable 2,697 Prepaid Expenses 696 15,401 Equipment Accumulated Depreciation Accounts Payable 5,228 1,637 4,086...
Calculator Accounts Receivable 2,697 Prepaid Expenses 696 15,401 Equipment Accumulated Depreciation Accounts Payable 5,228 1,637 4,086 Notes Payable Common Stock 1,000 Retained Earnings 10,955 Dividends 878 Fees Earned 8,091 Wages Expense 3,150 857 Rent Expense Utilities Expense 354 Depreciation Expense Miscellaneous Expense Totals 30,997 30,997 Determine the net income (loss) for the period. Net income $2,553 Net loss $2,553 Net loss $3,431 Net Income $3,431
December 31 Cash 5,703 Accounts Receivable 2,315 Prepaid Expenses 765 Equipment 15,560 Accumulated Depreciation 1,846 Accounts Payable 1,670 Notes Payable 4,135 Common Stock 1,000 Retained Earnings 13,418 Dividends 608 Fees Earned 6,931 Wages Expense 2,684 Rent Expense 729 Utilities Expense 387 170 Depreciation Expense Miscellaneous Expense 79 Totals 29,000 29,000 Determine the total assets. Oa. $29,000 Ob. $14,418 Oc. $24,343 Od. $22,497
Calculator December 31 6,255 2,779 633 14,739 Cash Accounts Receivable Prepaid Expenses Equipment Accumulated Depreciation Accounts Payable Notes Payable Common Stock Retained Earnings Dividends Fees Earned Wages Expense Rent Expense Utilities Expense Depreciation Expense Miscellaneous Expense 9,207 1,466 4,449 1,000 4,958 790 8,202 2,543 798 458 182 105 29,282 Totals 29,282 Determine the net income (loss) for the period. Oa. Net income $3,326 Ob. Net loss $3,326 Oc. Net loss $4,116 Od. Net income $4,116 Next > Email Instructor Submit...
Cash 5,712 2,180 Accounts Receivable 658 Prepaid Expenses Equipment Accumulated Depreciation 15,080 2,866 Accounts Payable 1,433 Notes Payable 5,340 1,000 Common Stock Retained Earnings 11,364 Dividends 740 6,339 Fees Earned Wages Expense Rent Expense Utilities Expense Depreciation Expense Miscellaneous Expense 2,512 761 460 173 66 28,342 Totals 28,342 Determine the net income (loss) for the period. e 9 @ 12:30 AM 640 un
Calculator Adjusted Trial Balance December 31 Cash 6,901 Accounts Receivable 2,109 668 Prepaid Expenses Equipment Accumulated Depreciation 14,901 2,329 1,426 Accounts Payable Notes Payable 5,050 Common Stock 1,000 Retained Earnings 13,181 Dividends 899 Fees Earned 6,903 Wages Expense 2,865 Rent Expense 730 Utilities Expense 500 Depreciation Expense 203 Miscellaneous Expense 113 Totals 29,889 29,889 Determine the total assets. O
Cash 5,161 Accounts Receivable 2,312 Prepaid Expenses 722 Equipment Accumulated Depreciation 13,561 8,903 Accounts Payable ! 1,678 Notes Payable 4,368 1,000 Common Stock Retained Earnings Dividends 1,505 1,000 Fees Earned 7,824 Wages Expense 2,019 Rent Expense 700 Utilities Expense 488 Depreciation Expense 257 Miscellaneous Expense Totals 26,278 26,278 Determine the total liabilities for the period. 11
Calculator Cash 5,996 Accounts Receivable 2,944 752 14,901 Prepaid Expenses Equipment Accumulated Depreciation Accounts Payable Notes Payable 11,251 1,559 Common Stock Retained Earnings Dividends 5,565 1,000 2,477 7,860 2,981 Fees Earned Wages Expense Rent Expense Utilities Expense Depreciation Expense Miscellaneous Expense 729 420 184 101 Totals 29,712 29,712 Determine the total assets.
Cash 5,301 Accounts Receivable 2,494 Prepaid Expenses 706 Equipment 14,927 Accumulated Depreciation 5,092 Accounts Payable 1,783 Notes Payable 4,354 Common Stock 1,000 Retained Earnings 7,744 Dividends 697 Fees Earned 8,629 Wages Expense 2,943 Rent Expense 773 Utilities Expense 494 Depreciation Expense 169 Miscellaneous Expense 98 28,602 28,602 Totals Determine the current assets. 12:22 AM
Cash 5,712 Accounts Receivable 2,180 658 Prepaid Expenses Equipment 15,080 Accumulated Depreciation 2,866 Accounts Payable 1,433 5,340 Notes Payable Common Stock 1,000 Retained Earnings 11,364 Dividends Fees Earned Wages Expense Rent Expense Utilities Expense Depreciation Expense Miscellaneous Expense ON HO IN LON - Totals 28,342 INT 28,342 Determine the net income Class) for the period nh 12:40 AM
6,000 2,100 1,000 500 150,000 Cash Accounts Receivable Prepaid Expenses Supplies Equipment Accumulated Depreciation Accounts Payable Unearned Fees Notes Payable Bob Steely, Capital Bob Steely. Withdrawals Fees Earned Wages Expense Rent Expense Utilities Expense Depreciation Expense Miscellaneous Expense 15,000 6,200 4,000 14,000 19,000 8.000 154,900 25,000 12,000 3,400 5,000 100 Totals 213,100 213,100 In the space below, calculate: a) net income b) total assets c) total liabilities d) total current assets e) beginning balance of Owner's Equity for next year.
Calculator Accounts Receivable 2,697 Prepaid Expenses 696 15,401 Equipment Accumulated Depreciation Accounts Payable 5,228 1,637 4,086 Notes Payable Common Stock 1,000 Retained Earnings 10,955 Dividends 878 Fees Earned 8,091 Wages Expense 3,150 857 Rent Expense Utilities Expense 354 Depreciation Expense Miscellaneous Expense Totals 30,997 30,997 Determine the net income (loss) for the period. Net income $2,553 Net loss $2,553 Net loss $3,431 Net Income $3,431
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