Homework Answers
Answer: A. $14,000 credit
.
Total of credits = $25,000 + $11,000 = $36,000
Total of debits = $16,000 + $6,000 = $22,000
Ending balance = Total of credits - Total of debits = $36,000 - $22,000 = $14,000
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The Accounts Payable account of Waterford, Inc. has the following postings: Accounts Payable 16,000 25,000 6,000...
Accounts Payable had a normal beginning balance of $1.400 During the period, there were debit postings...
Accounts Payable had a normal beginning balance of $1.400 During the period, there were debit postings of $300 and credit postings of $800. What was the ending balance? O A $900 credit OB 5900 debit OC. $1900 debit D. $1.900 cred
Given the following T- Account information, what is the balance in accounts payable? Accounts Payable 222...
Given the following T- Account information, what is the balance in accounts payable? Accounts Payable 222 425 920 1/20 230 1/6 1/5 O A. $920 credit balance O B. $265 credit balance O C. $655 debit balance OD. $265 debit balance
O d. $6,900 (10 Points) At the beginning of 2017, Elixir, Inc. has the following account...
O d. $6,900 (10 Points) At the beginning of 2017, Elixir, Inc. has the following account balances ered of Accounts Receivable $40,000(debit balance) Allowance for Bad Debts $6000 (credit balance) Bad Debts Expense $0 stion During the year, credit sales amounted to $850,000. Cash collected on credit sales amounted to $760,000, and $16,000 has been written off. At the end of the year, the company adjusted for bad debts expense using the percent-of-sales method and applied a rate, based on...
20. AG Inc, made a $25,000 sale on account with the following terms: 2/10, 1/30. If...
20. AG Inc, made a $25,000 sale on account with the following terms: 2/10, 1/30. If the company uses the net method to record sales made on credit, what is/are the debit(s) in the journal entry to record the sale? a. Debit Accounts Receivable for $24,500. b. Debit Accounts Receivable for $24,500 and Sales Discounts for $500. c. Debit Accounts Receivable for $25,000. d. Debit Accounts Receivable for $25.000 and Sales Discounts for $500. 21. Wellington Corp. has outstanding accounts...
Cash Accounts Receivable 16,000 6,000 2,000 19,000 16,000 6,000 2,000 19,000 Supplies Equipment Accumulated Depr. 6,000...
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Stiner Company has the following selected accounts after posting adjusting entries: Accounts Payable 45.000 Notes Payable,...
Stiner Company has the following selected accounts after posting adjusting entries: Accounts Payable 45.000 Notes Payable, 3-month 80,000 Accumulated Depreciation Equipment 14,000 Payroll and Benefits Payable 27,000 Notes Payable, 5-year, 8% 30,000 Estimated Warranty Liability 34,000 Payroll Tax Expense 6,000 Interest Payable 3,000 Mortgage Payable 200,000 Sales Tax Payable 16,000 Instructions (a) Prepare the current liability section of Stiner Company's balance sheet, assuming $25,000 of the mortgage is payable next year. (List liabilities in magnitude order, with largest first.) (b)...
only final answers plz 15. The Accounts Receivable account has a beginning balance of $10,000 and...
only final answers plz
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Refer to the following trial balance. Credit Debit $19,000 43,000 65,000 15,000 320,000 Cash Accounts Receivable...
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Please help. 1. Postings to the control accounts in the general ledger are made a. annually...
Please help.
1. Postings to the control accounts in the general ledger are made a. annually b. daily. c. monthly d. weekly 2. The balance of a control account in the general ledger a. must always be zero. b. must equal the amount of total assets. c. is always greater than the composite balance of individual accounts in a related subsidiary ledger. d. must equal the composite balance of individual accounts in a related subsidiary ledger. 3. Postings are made...
Accounts Payable had a normal beginning balance of $1.400 During the period, there were debit postings of $300 and credit postings of $800. What was the ending balance? O A $900 credit OB 5900 debit OC. $1900 debit D. $1.900 cred
Given the following T- Account information, what is the balance in accounts payable? Accounts Payable 222 425 920 1/20 230 1/6 1/5 O A. $920 credit balance O B. $265 credit balance O C. $655 debit balance OD. $265 debit balance
O d. $6,900 (10 Points) At the beginning of 2017, Elixir, Inc. has the following account balances ered of Accounts Receivable $40,000(debit balance) Allowance for Bad Debts $6000 (credit balance) Bad Debts Expense $0 stion During the year, credit sales amounted to $850,000. Cash collected on credit sales amounted to $760,000, and $16,000 has been written off. At the end of the year, the company adjusted for bad debts expense using the percent-of-sales method and applied a rate, based on...
20. AG Inc, made a $25,000 sale on account with the following terms: 2/10, 1/30. If the company uses the net method to record sales made on credit, what is/are the debit(s) in the journal entry to record the sale? a. Debit Accounts Receivable for $24,500. b. Debit Accounts Receivable for $24,500 and Sales Discounts for $500. c. Debit Accounts Receivable for $25,000. d. Debit Accounts Receivable for $25.000 and Sales Discounts for $500. 21. Wellington Corp. has outstanding accounts...
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only final answers plz
15. The Accounts Receivable account has a beginning balance of $10,000 and the company provides services $50,000 on account during the month. If the company received cash payments from customers totaling $12,000 from customers during the month, what is the ending balance in the Accounts Receivable account? A. $50,000 B. $52,000 C. $48,000. D. $62,000. 16. When cash payments are made to stockholders, what is the effect on the company's accounts? A. Cash decreases and dividends...
Refer to the following trial balance. Credit Debit $19,000 43,000 65,000 15,000 320,000 Cash Accounts Receivable Merchandise Inventory Supplies Land Accounts Payable Notes Payable Common Stock Retained Earnings Dividends $3,000 25,000 293,000 22,000 6,000 O A. $129,000 O B. $119,000 O C. $125,000 OD. $265,000
Please help.
1. Postings to the control accounts in the general ledger are made a. annually b. daily. c. monthly d. weekly 2. The balance of a control account in the general ledger a. must always be zero. b. must equal the amount of total assets. c. is always greater than the composite balance of individual accounts in a related subsidiary ledger. d. must equal the composite balance of individual accounts in a related subsidiary ledger. 3. Postings are made...
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