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USE THE FOLLOWING INFORMATION TO ANSWER THE NEXT (4) QUESTIONS: The Income Statement of Desert Corporation...
Using the information presented above, determine the amount of Cost of Goods Sold reported on the...
Using the information presented above, determine the amount of
Cost of Goods Sold reported on the 2019 accrual
based Income Statement:
The Income Statement of Desert Corporation for 2019 included Interest Revenue for $156,000. The Cash Ledger for the company for 2018 showed $199,500 cash paid for salaries, $18,600 cash paid for insurance, and $433,200 cash paid for inventory. The following balances have been excerpted from Desert Corporation's balance sheet: December 31, 2018 December 31, 2019 Interest Receivable $18,200 $9,000...
salary expanse and Insurance expense reported on the 2019 accrual based income statement?? thank you!!!! The...
salary expanse and Insurance expense reported on the 2019
accrual based income statement??
thank you!!!!
The Income Statement of Desert Corporation for 2019 included Interest Revenue for $156,000. The Cash Ledger for the company for 2018 showed $199,500 cash paid for salaries, $18,600 cash paid for insurance, and $433,200 cash paid for inventory. The following balances have been excerpted from Desert Corporation's balance sheet: December 31, 2018 December 31, 2019 interest Receivable $18,200 $9,000 Salaries & Wages Payable $17,800 $...
The income statement of Dolan Corporation for 2020 included the following items: Interest revenue &
The income statement of Dolan Corporation for 2020 included the following items: Interest revenue $141,000 Salaries and wages expense 210,000 Insurance expense 21,200 The following balances have been excerpted from Dolan Corporation's balance sheets: December 31, 2020 December 31, 2019 Interest receivable $18,200 $15,000 Salaries and wages payable 17,800 8,400 Prepaid insurance 2,200 3,000 The cash paid for salaries and wages during 2020 was
The income statement of Dolan Corporation for 2020 included the following items: Interest revenue $141,000 Salaries...
The income statement of Dolan Corporation for 2020 included the following items: Interest revenue $141,000 Salaries and wages expense 210,000 Insurance expense 21,200 The following balances have been excerpted from Dolan Corporation's balance sheets: December 31, 2020 December 31, 2019 Interest receivable $18,200 $15,000 Salaries and wages payable 17,800 8,400 Prepaid insurance 2,200 3,000 The cash paid for salaries and wages during 2020 was $219,400 $200,600 $201,600 $227,800
The income statement of Dolan Corporation for 2020 included the following items: The following balances have...
The income statement of Dolan Corporation for 2020 included the
following items:
The following balances have been excerpted from Dolan
Corporation's balance sheets:
The cash paid for insurance premiums during 2020 was
Answers:
A.
$22,000.
B.
$20,400.
C.
$19,000.
D.
$18,200.
Please explain how you got the answer. Thank you.
There is NO balance sheet or income statement
included in the question. This was all the information that the
question gave me.
We were unable to transcribe this imageWe...
Use the information for questions The income statement included the following items: Interest revenue &
Use the information for questions The income statement included the following items: Interest revenue $100,500 Salaries expense 110,000 Insurance expense 9,600 The following balances have been excerpted from balance sheets: Jan 31, 2010 Jan 31, 2009 Interest receivable $9,100 $7,500 Salaries payable 8,900 4,200 Prepaid insurance 1,100 1,500 The cash received for interest during 2010 was ___ The cash paid for salaries during 2010 was _____ The cash paid for insurance premiums during...
Problem 1-63A (Algorithmic) Income Statement, Retained Earnings Statement, and Balance Sheet The following information relates to...
Problem 1-63A (Algorithmic) Income Statement, Retained Earnings Statement, and Balance Sheet The following information relates to Ashton Appliances for 2019. Accounts payable $16,800 Accounts receivable 70,300 Accumulated depreciation (building) 106,200 Accumulated depreciation (furniture) 27,600 Bonds payable (due in 7 years) 192,000 Building 300,000 Cash 41,450 Common stock 115,620 Cost of goods sold 511,350 Depreciation expense (building) 11,050 Depreciation expense (furniture) 12,000 Furniture 130,000 Income taxes expense 16,650 Income taxes payable 11,400 Insurance expense 36,610 Interest expense 15,500 Inventory 59,850 Other...
Bramble Corp. paid or collected during 2020 the following items: $30200 Insurance premiums paid Interest collected...
Bramble Corp. paid or collected during 2020 the following items: $30200 Insurance premiums paid Interest collected Salaries paid 69200 280400 The following balances have been excerpted from Bramble's balance sheets: Prepaid insurance Interest receivable Salaries and wages payable December 31, 2020 $2380 7020 24300 December 31, 2019 $2840 5660 21200 The insurance expense on the income statement for 2020 was The following balances have been excerpted from Bramble's balance sheets: December 31, 2020 $2380 December 31, 2019 $2840 Prepaid insurance...
The following information applies to the questions displayed below.] Pastina Company sells various types of pasta to gr...
The following information applies to the questions displayed below.] Pastina Company sells various types of pasta to grocery chains as private label brands. The company's fiscal year-end is December 31. The unadjusted trial balance as of December 31, 2018, appears below. Account Title Debits Credits Cash 44,950 60,000 Accounts receivable Supplies 1,950 Inventory Note receivable 79,000 31,200 0 Interest receivable Prepaid rent Prepaid insurance office equipment Accumulated depreciation-office equipment Accounts payable 2,900 0 98,000 36,750 39,000 Salaries and wages payable...
Required information [The following information applies to the questions displayed below. Pastina Company sells various...
Required information [The following information applies to the questions displayed below. Pastina Company sells various types of pasta to grocery chains as private label brands. The company's fiscal year-end is December 31. The unadjusted trial balance as of December 31, 2018, appears below. Account Title Debits Credits Cash 44,950 Accounts receivable 60,000 Supplies 1,950 79,000 31,200 Inventory Note receivable Interest receivable Prepaid rent Prepaid insurance Office equipment 2,900 0 98,000 Accumulated depreciation-office equipment Accounts payable 36,750 39,00 wages payable Note...
Using the information presented above, determine the amount of
Cost of Goods Sold reported on the 2019 accrual
based Income Statement:
The Income Statement of Desert Corporation for 2019 included Interest Revenue for $156,000. The Cash Ledger for the company for 2018 showed $199,500 cash paid for salaries, $18,600 cash paid for insurance, and $433,200 cash paid for inventory. The following balances have been excerpted from Desert Corporation's balance sheet: December 31, 2018 December 31, 2019 Interest Receivable $18,200 $9,000...
salary expanse and Insurance expense reported on the 2019
accrual based income statement??
thank you!!!!
The Income Statement of Desert Corporation for 2019 included Interest Revenue for $156,000. The Cash Ledger for the company for 2018 showed $199,500 cash paid for salaries, $18,600 cash paid for insurance, and $433,200 cash paid for inventory. The following balances have been excerpted from Desert Corporation's balance sheet: December 31, 2018 December 31, 2019 interest Receivable $18,200 $9,000 Salaries & Wages Payable $17,800 $...
The income statement of Dolan Corporation for 2020 included the
following items:
The following balances have been excerpted from Dolan
Corporation's balance sheets:
The cash paid for insurance premiums during 2020 was
Answers:
A.
$22,000.
B.
$20,400.
C.
$19,000.
D.
$18,200.
Please explain how you got the answer. Thank you.
There is NO balance sheet or income statement
included in the question. This was all the information that the
question gave me.
We were unable to transcribe this imageWe...
Bramble Corp. paid or collected during 2020 the following items: $30200 Insurance premiums paid Interest collected Salaries paid 69200 280400 The following balances have been excerpted from Bramble's balance sheets: Prepaid insurance Interest receivable Salaries and wages payable December 31, 2020 $2380 7020 24300 December 31, 2019 $2840 5660 21200 The insurance expense on the income statement for 2020 was The following balances have been excerpted from Bramble's balance sheets: December 31, 2020 $2380 December 31, 2019 $2840 Prepaid insurance...
The following information applies to the questions displayed below.] Pastina Company sells various types of pasta to grocery chains as private label brands. The company's fiscal year-end is December 31. The unadjusted trial balance as of December 31, 2018, appears below. Account Title Debits Credits Cash 44,950 60,000 Accounts receivable Supplies 1,950 Inventory Note receivable 79,000 31,200 0 Interest receivable Prepaid rent Prepaid insurance office equipment Accumulated depreciation-office equipment Accounts payable 2,900 0 98,000 36,750 39,000 Salaries and wages payable...
Required information [The following information applies to the questions displayed below. Pastina Company sells various types of pasta to grocery chains as private label brands. The company's fiscal year-end is December 31. The unadjusted trial balance as of December 31, 2018, appears below. Account Title Debits Credits Cash 44,950 Accounts receivable 60,000 Supplies 1,950 79,000 31,200 Inventory Note receivable Interest receivable Prepaid rent Prepaid insurance Office equipment 2,900 0 98,000 Accumulated depreciation-office equipment Accounts payable 36,750 39,00 wages payable Note...
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