Homework Answers
| Account | Category | Normal Balance | Which Financial(s) Statement Found |
| Accumulated Depreciation | Contra Asset Account | Credit | Balance Sheet |
| Prepaid Rent | Current Asset | Debit | Balance Sheet |
| Office Equipment | Tangible Fixed Asset | Debit | Balance Sheet |
| Depreciation Expense | Expense | Debit | Income Statement |
| B. Reel, Capital | Equity | Credit | Balance Sheet |
| B. Reel, Withdrawals | Contra Equity Account | Debit | Balance Sheet |
| Wages Payable | Current Liability | Credit | Balance Sheet |
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This Question: 4 pts 2 of 38 (5 complete) This Test: 80 pts possib Question Help...
Question 2 12 points Save Answer Below is a selected group of accounts. For each account,...
Question 2 12 points Save Answer Below is a selected group of accounts. For each account, indicate the normal balance and identify the financial statement where found. For example, your answers should be entered in the following format EXAMPLE Account Normal Balance Financial Statement Cash Debit Balance Sheet Financial Statement Normal Balance Credit T Account Utilities Payable Accounts Receivable Interest Revenue Equipment Owner's Drawings Salaries and Wages Expense Prepaid Insurance Accumulated Depreciation- Equipment Service Revenue Mortgage Payable Advertising Expense Accumulated...
Chapter Five Financial Statements Problem 5-2: Listed below is the adjusted trial balance of the Tasha...
Chapter Five Financial Statements Problem 5-2: Listed below is the adjusted trial balance of the Tasha Thomas Consulting Firm Tasha Thomas Consulting Firm Adjusted Trial Balance December 31, 20XX 35.000 13.000 1.000 600 15,000 3,000 Cash Accounts Receivable Office Supplies Prepaid Rent Office Equipment Accumulated Depreciation, Office Equipment Accounts Payable T. Thomas, Capital T. Thomas, Withdrawals Consulting Fees Eamed Rent Expense Office Supplies Expense Depreciation Expense, Office Equipment Salaries Expense 12,000 40,000 200 55,000 1,200 3.000 1.000 40.000 110,000 110,000...
BAC1034 PRINCIPLES OF FINANCIAL ACCOUNTING QUESTION 4 [15 MARKS] Below is the Adjusted Trial Balance for...
BAC1034 PRINCIPLES OF FINANCIAL ACCOUNTING QUESTION 4 [15 MARKS] Below is the Adjusted Trial Balance for Blue Diamond Berhad as at 31 December 2018. Credit (RM) 10,000 Blue Diamond Berhad Adjusted Trial Balance 31 December 2018 Account Title Debit (RM) Cash 757,400 Accounts Receivable 332,900 Supplies 80,000 Prepaid Insurance 291,200 Office Equipment 100,000 Accumulated Depreciation - Office Equipment | Office Car 250,000 Accumulated Depreciation - Office Car Accounts Payable Notes payable Rent Payable Dividends Payable Unearned Service Revenue Ordinary Share...
Question 1 Question 2 Question 3 Question 4 Question 5 Which of the following pairs of...
Question 1
Question 2
Question 3
Question 4
Question 5
Which of the following pairs of accounts could not appear in the same adjusting entry? Salaries Payable and Salaries Expense Interest Income and Interest Expense Fees Earned and Unearned Fees Rent Expense and Prepaid Rent On which financial statement will Income Summary be shown? no financial statement retained earnings statement balance sheet х income statement For the Year Ended December 31 Income Statement Balance Sheet Adjusted Trial Balance Account Title...
Problem 4-5A Preparing trial balances, closing entries, and financial statements LO C3, P2, P3 The adjusted...
Problem 4-5A Preparing trial balances, closing entries, and financial statements LO C3, P2, P3 The adjusted trial balance of Karise Repairs on December 31 follows. Credit Debit $ 93,000 1,500 2,100 50,000 KARISE REPAIRS Adjusted Trial Balance December 31 No. Account Title 101 Cash 124 Office supplies 128 Prepaid insurance 167 Equipment 168 Accumulated depreciation-Equipment 201 Accounts payable 210 Wages payable 301 C. Karise, Capital 302 C. Karise, Withdrawals 401 Repair fees earned 612 Depreciation expense-Equipment 623 Wages expense 637...
Question 47 40 pts PROBLEM 2(40 Points The following items are listed alphabetically. Use the bolded...
Question 47 40 pts PROBLEM 2(40 Points The following items are listed alphabetically. Use the bolded abbreviations for your answers. Use Column 1 to indicate whether the item is found on the Balance Sheet (BS) or Income Statement (IS) For Balance Sheet items, use Column 2 to indicate the following: CA Current Asset, NCA Non Current Asset, PPE- Property, Plant & Equipment, IA-Intangible Asset CL Current Liability, NCL-Non Current Liability, or SE- Stockholders' Equity. Use Column 3 to indicate whether...
Styles MODULE 2 FINANCIAL STATEMENTS Below is the adjusted trial balance for Shady's Illusions. Use this...
Styles MODULE 2 FINANCIAL STATEMENTS Below is the adjusted trial balance for Shady's Illusions. Use this information to prepare Shady's. INCOME STATEMENT and BALANCE SHEET for the year. No. 101 Credit I 109 111 Debit 158,000 25,000 80,000 112 200 201 Account title Cash Office Supplies Equipment Accumulated Depreciation--Equipment Accounts Payable Wages Payable S. Shady, Capital S. Shady, Withdrawals Entertainment Revenue Rent Expense Gas and Oil Expense Wages Expense Depreciation Expense-Equipment Legal Expense Totals 44,000 33,000 12,000 129,700 300 301...
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At the end of the first three months of operations on October 31, this was the trial balance of the Answering Service Co: (25 points)Cash $ 5,524Accounts Receivable 8,472Office Supplies 1,806Prepaid Rent 1,600Prepaid Insurance 1,440Office Equipment 4,600Communications Equipment 4,800Accounts Payable $ 5,346Service Revenue 1,776Capital 11,866Withdrawals 4,260Unearned Revenue 18,004Wages Expense 3,800Office Cleaning Expense 690$36,992$36,992a. An inventory of office supplies reveals supplies on hand of $266.b. The Prepaid Rent account includes the rent for four months.c. Prepaid Insurance reflects a one-year policy purchased on August 1.d. Depreciation is estimated at $204 on the office equipment and...
List the following steps in preparing a work sheet in their proper order by selecting numbers...
List the following steps in preparing a work sheet in their proper order by selecting numbers 1-5 from the drop down Sort amounts from the adjusted trial balance to the proper financial statement columns Total each statement column, determine net income or not loss and balance the columns c. Prepare an adjusted trial balance Enter required accounts and balances in the Unadjusted Till Balance columns 1. Enter necessary adjustments in the adjustments column e < Prev 9 a 20 33...
stuck , help me out please Financial Statements Your Company Income Statement For the Year Ended...
stuck , help me out please
Financial Statements Your Company Income Statement For the Year Ended December 31, 2015 Fees Earned Expenses Your Company Balance Sheet December 31, 2015 ASSETS Current Assets Total Expenses Net Income Total Current Assets Property, plant and equipment Your Company Statement of Owners' Equity For the Year Ended December 31, 2015 Total Property, Plant & Equipment Total Assets LIABILITIES & OWNERS EQUITY Current Liabilities Beginning Capital Net Income for the year Less withdrawals Increase in...
Question 2 12 points Save Answer Below is a selected group of accounts. For each account, indicate the normal balance and identify the financial statement where found. For example, your answers should be entered in the following format EXAMPLE Account Normal Balance Financial Statement Cash Debit Balance Sheet Financial Statement Normal Balance Credit T Account Utilities Payable Accounts Receivable Interest Revenue Equipment Owner's Drawings Salaries and Wages Expense Prepaid Insurance Accumulated Depreciation- Equipment Service Revenue Mortgage Payable Advertising Expense Accumulated...
Chapter Five Financial Statements Problem 5-2: Listed below is the adjusted trial balance of the Tasha Thomas Consulting Firm Tasha Thomas Consulting Firm Adjusted Trial Balance December 31, 20XX 35.000 13.000 1.000 600 15,000 3,000 Cash Accounts Receivable Office Supplies Prepaid Rent Office Equipment Accumulated Depreciation, Office Equipment Accounts Payable T. Thomas, Capital T. Thomas, Withdrawals Consulting Fees Eamed Rent Expense Office Supplies Expense Depreciation Expense, Office Equipment Salaries Expense 12,000 40,000 200 55,000 1,200 3.000 1.000 40.000 110,000 110,000...
BAC1034 PRINCIPLES OF FINANCIAL ACCOUNTING QUESTION 4 [15 MARKS] Below is the Adjusted Trial Balance for Blue Diamond Berhad as at 31 December 2018. Credit (RM) 10,000 Blue Diamond Berhad Adjusted Trial Balance 31 December 2018 Account Title Debit (RM) Cash 757,400 Accounts Receivable 332,900 Supplies 80,000 Prepaid Insurance 291,200 Office Equipment 100,000 Accumulated Depreciation - Office Equipment | Office Car 250,000 Accumulated Depreciation - Office Car Accounts Payable Notes payable Rent Payable Dividends Payable Unearned Service Revenue Ordinary Share...
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Question 2
Question 3
Question 4
Question 5
Which of the following pairs of accounts could not appear in the same adjusting entry? Salaries Payable and Salaries Expense Interest Income and Interest Expense Fees Earned and Unearned Fees Rent Expense and Prepaid Rent On which financial statement will Income Summary be shown? no financial statement retained earnings statement balance sheet х income statement For the Year Ended December 31 Income Statement Balance Sheet Adjusted Trial Balance Account Title...
Problem 4-5A Preparing trial balances, closing entries, and financial statements LO C3, P2, P3 The adjusted trial balance of Karise Repairs on December 31 follows. Credit Debit $ 93,000 1,500 2,100 50,000 KARISE REPAIRS Adjusted Trial Balance December 31 No. Account Title 101 Cash 124 Office supplies 128 Prepaid insurance 167 Equipment 168 Accumulated depreciation-Equipment 201 Accounts payable 210 Wages payable 301 C. Karise, Capital 302 C. Karise, Withdrawals 401 Repair fees earned 612 Depreciation expense-Equipment 623 Wages expense 637...
Question 47 40 pts PROBLEM 2(40 Points The following items are listed alphabetically. Use the bolded abbreviations for your answers. Use Column 1 to indicate whether the item is found on the Balance Sheet (BS) or Income Statement (IS) For Balance Sheet items, use Column 2 to indicate the following: CA Current Asset, NCA Non Current Asset, PPE- Property, Plant & Equipment, IA-Intangible Asset CL Current Liability, NCL-Non Current Liability, or SE- Stockholders' Equity. Use Column 3 to indicate whether...
Styles MODULE 2 FINANCIAL STATEMENTS Below is the adjusted trial balance for Shady's Illusions. Use this information to prepare Shady's. INCOME STATEMENT and BALANCE SHEET for the year. No. 101 Credit I 109 111 Debit 158,000 25,000 80,000 112 200 201 Account title Cash Office Supplies Equipment Accumulated Depreciation--Equipment Accounts Payable Wages Payable S. Shady, Capital S. Shady, Withdrawals Entertainment Revenue Rent Expense Gas and Oil Expense Wages Expense Depreciation Expense-Equipment Legal Expense Totals 44,000 33,000 12,000 129,700 300 301...
List the following steps in preparing a work sheet in their proper order by selecting numbers 1-5 from the drop down Sort amounts from the adjusted trial balance to the proper financial statement columns Total each statement column, determine net income or not loss and balance the columns c. Prepare an adjusted trial balance Enter required accounts and balances in the Unadjusted Till Balance columns 1. Enter necessary adjustments in the adjustments column e < Prev 9 a 20 33...
stuck , help me out please
Financial Statements Your Company Income Statement For the Year Ended December 31, 2015 Fees Earned Expenses Your Company Balance Sheet December 31, 2015 ASSETS Current Assets Total Expenses Net Income Total Current Assets Property, plant and equipment Your Company Statement of Owners' Equity For the Year Ended December 31, 2015 Total Property, Plant & Equipment Total Assets LIABILITIES & OWNERS EQUITY Current Liabilities Beginning Capital Net Income for the year Less withdrawals Increase in...
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