Cash | Receivables | |||||||
Beg. Bal. | $2,328 | $13,864 | c) | Beg. Bal. | $4,581 | $24,285 | e) | |
a) | $17,600 | $3,864 | d) | a) | $21,704 | |||
e) | $24,285 | $350 | f) | |||||
$15,276 | h) | End. Bal. | $2,000 | |||||
$8,564 | i) | |||||||
$784 | j) | |||||||
End. Bal. | $1,511 | |||||||
Spare Parts, Supplies and Fuel | Prepaid Expenses | |||||||
Beg. Bal. | $437 | Beg. Bal. | $329 | |||||
k) | $88 | c) ($13,864 - $10,136) | $3,728 | |||||
End. Bal. | $525 | End. Bal. | $4,057 | |||||
Other Current Assets | Property and Equipment (net) | |||||||
Beg. Bal. | $610 | Beg. Bal. | $15,543 | |||||
b) | $3,434 | |||||||
End. Bal. | $610 | End. Bal. | $18,977 | |||||
Other Noncurrent Assets | Accounts Payable | |||||||
Beg. Bal. | $3,557 | Beg. Bal. | $1,702 | |||||
j) | $784 | $88 | k) | |||||
End. Bal. | $3,557 | End. Bal. | $1,006 | |||||
Accrued Expense Payable | Other Current Liabilities | |||||||
Beg. Bal. | $1,894 | Beg. Bal. | $1,286 | |||||
End. Bal. | End. Bal. | $1,286 | ||||||
Long-term Notes Payable | Other-Noncurrent Liabilities | |||||||
Beg. Bal. | $1,667 | Beg. Bal. | $5,616 | |||||
f) | $350 | $3,434 | b) | |||||
End. Bal. | $4,751 | End. Bal. | $5,616 | |||||
Common Stock | Additional Paid-in Capital | |||||||
Beg. Bal. | $32 | Beg. Bal. | $2,472 | |||||
$2 | g) (20 * $0.10) | $318 | g) $16 - $0.10 = $15.90*20 | |||||
End. Bal. | $34 | End. Bal. | $2,790 | |||||
Retained Earnings | Delivery Service Revenue | |||||||
Beg. Bal. | $12,716 | Beg. Bal. | $0 | |||||
$10,028 | Net Income | Inc. Sum. | $39,304 | $39,304 | a) | |||
End. Bal. | $22,744 | End. Bal. | $0 | |||||
Rental Expense | Repair Expense | |||||||
Beg. Bal. | $0 | $10,136 | Inc. Sum. | Beg. Bal. | $0 | $10,136 | Inc. Sum. | |
c) | $10,136 | d) | $3,864 | |||||
End. Bal. | $0 | End. Bal. | $0 | |||||
Wage Expense | Fuel Expense | |||||||
Beg. Bal. | $0 | $15,276 | Inc. Sum. | Beg. Bal. | $0 | $8,564 | Inc. Sum. | |
h) | $15,276 | i) | $8,564 | |||||
End. Bal. | $0 | End. Bal. | $0 |
Working notes: | |
Service Revenue ($21,704+$17,600) | $39,304 |
Less: Rental expense | ($10,136) |
Less: Repair expense | ($3,864) |
Less: Wage expense | ($15,276) |
Net Income | $10,028 |
[The following information applies to the questions displayed below.) Following are account balances (in millions of...
Required information (The following information applies to the questions displayed below.] Following are account balances (in millions of dollars) from a recent FedEx annual report, followed by several typical transactions. Assume that the following are account balances on May 31 (end of the prior fiscal year): Balance $ 18,143 15,316 1,962 Balance $ 5,231 740 2,588 Account Property and equipment (net) Retained earnings Accounts payable Prepaid expenses Accrued expenses payable Long-term notes payable Other noncurrent assets Common stock ($0.10 par...
Required information (The following information applies to the questions displayed below.] Following are account balances (in millions of dollars) from a recent FedEx annual report, followed by several typical transactions. Assume that the following are account balances on May 31 (end of the prior fiscal year): Account Property and equipment (net) Retained earnings Accounts payable Prepaid expenses Accrued expenses payable Long-term notes payable Other noncurrent assets Common stock $0.10 par value) Balance Account $ 13,894 Receivables 9,606 Other current assets...
PLEASE HELP DUE SOON Required information (The following information applies to the questions displayed below.) Following are account balances (in millions of dollars) from a recent StateEx annual report, followed by several typical transactions. Assume that the following are account balances on May 31 (end of the prior fiscal year): Account Property and equipment (net) Retained earnings Accounts payable Prepaid expenses Accrued expenses payable Long-term notes payable Other noncurrent assets Common stock $0.10 par value) Balance $ 15,494 11,206 1,417...
Following are account balances (in millions of dollars) from a recent State Ex annual report, followed by several typical transactions. Assume that the following are account balances on May 31 (end of the prior fiscal year): Account Property and equipment (net) Retained earnings Accounts payable Prepaid expenses Accrued expenses payable Long-term notes payable Other noncurrent assets Common stock ($0.10 par value) Balance $ 15,494 11, 206 1,417 188 2,230 1,650 2,792 4 Account Receivables Other current assets Cash Spare parts,...
Following are account balances (in millions of dollars) from a recent FedEx annual report, followed by several typical transactions. Assume that the following are account balances on May 31 (end of the prior fiscal year): Account Property and equipment (net) Retained earnings Accounts payable Prepaid expenses Accrued expenses payable Long-term notes payable Other noncurrent assets Common stock ($0.10 par value) Balance Account $ 13,894 Receivables 9,606 Other current assets 1,257 Cash 108 Spare parts, supplies, and fuel 2,070 Other noncurrent...
Required information [The following information applies to the questions displayed below.) Following are account balances (in millions of dollars) from a recent FedEx annual report, followed by several typical transactions. Assume that the following are account balances on May 31 (end of the prior fiscal year): Account Property and equipment (net) Retained earnings Accounts payable Prepaid expenses Accrued expenses payable Long-term notes payable Other noncurrent assets Common stock ($0.10 par value) Balance $ 18,143 15,316 1,962 459 2,154 1,927 3,947...
Required information [The following information applies to the questions displayed below.] Following are account balances (in millions of dollars) from a recent FedEx annual report, followed by several typical transactions. Assume that the following are account balances on May 31 (end of the prior fiscal year): Balance $ 5,231 Account Balance Account $ 18,143 Receivables Other current assets Property and equipment (net) Retained earnings Accounts payable Prepaid expenses Accrued expenses payable Long-term notes payable Other noncurrent assets 15,316 740 2,588...
Required information P3-6 (Algo) Analyzing the Effects of Transactions Using T-Accounts, Preparing an Income Statement, and Evaluating the Net Profit Margin Ratio L03-4, 3-5, 3-6 [The following information applies to the questions displayed below.] Following are account balances (in millions of dollars) from a recent StateEx annual report, followed by several typical transactions. Assume that the following are account balances on May 31 (end of the prior fiscal year): Account Property and equipment (net) Retained earnings Accounts payable Prepaid expenses...
please Help Required information [The following information applies to the questions displayed below.) Following are account balances (in millions of dollars) from a recent StateEx annual report, followed by several typical transactions. Assume that the following are account balances on May 31 (end of the prior fiscal year): Account Property and equipment (net) Retained earnings Accounts payable Prepaid expenses Accrued expenses payable Long-term notes payable Other noncurrent assets Common stock (50.19 par value) Balance Account $15,494 Receivables 11,206 Other current...
Following are account balances (in millions of dollars) from a recent StateEx annual report, followed by several typic transactions. Assume that the following are account balances on May 31 (end of the prior fiscal year): Account Balance Account Balance Property and equipment (net) $ 18,294 Receivables $ 2,649 Retained earnings 14,006 Other current assets 1,099 Accounts payable 1,697 Cash 1,324 Prepaid expenses 328 Spare parts, supplies, and fuel 836 Accrued expenses payable 2,510 Other noncurrent liabilities 3,950 Long-term notes payable...