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Beachside Realty rents condominiums and furnishings. Below is the adjusted trial balance at Decemb Beachside Realty...
Robert Evans owns a business, Beachside Realty, that rents condominiums and furnishings. Below is the adjusted...
Robert Evans owns a business, Beachside Realty, that rents condominiums and furnishings. Below is the adjusted trial balance at December 31. Account No. Debit Balances Credit Balances Cash 11 1,500 Accounts Receivable 12 2,000 Interest Receivable 13 100 Prepaid Insurance 14 1,600 Notes Receivable (long-term) 16 2,800 Equipment 18 15,000 Accumulated Depreciation 19 3,000 Accounts Payable 21 2,400 Accrued Expenses Payable 22 3,920 Income Taxes Payable 23 2,700 Unearned Rent Fees 24 500 Robert Evans, Capital 31 13,700 Robert Evans,...
Calculator Shores Sports rents canoes and kayaks. Below is the adjusted trial balance at December 31. Debit Credit...
Calculator Shores Sports rents canoes and kayaks. Below is the adjusted trial balance at December 31. Debit Credit 1,500 Cash Accounts Receivable 2,000 100 1,600 Interest Receivable Prepaid Insurance Notes Receivable (Long-Term) 2,800 15,000 Equipment Accumulated Depreciation 3,000 2,400 Accounts Payable Accrued Expenses Payable Income Taxes Payable 3,920 2,700 500 7,700 Uneamed Rent Fees Common Stock 2,000 Dividends Rent Fees Earned 37,000 1,300 Furniture Rental Revenue 19,000 Wages Expense Depreciation Expense 320 Utilities Expense 700 Insurance Expense 9,000 Maintenance Expense...
Indicate whether each of the following would be reported in the financial statements as a (a)...
Indicate whether each of the following would be reported in the financial statements as a (a) current asset, (b) property, plant, and equipment, (c) current liability, (d) revenue, or (e) expense: 1. Truck Current Asset 2. Accumulated Depreciation Property, Plant, and Equipment 3. Telephone Expense Expense 4. Fees Earned Revenue 5. Wages Payable Current Liability Current Asset 6. Prepaid Insurance 7. Office Supplies 8. Dining Expense Property, Plant, and Equipment Expense Current Liability 9. Unearned Rent Beachside Realty rents condominiums...
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Shores Sports rents canoes and kayaks. Below is the adjusted trial balance at December 31.DebitCreditCash1,500Accounts Receivable 2,000Interest Receivable 100Prepaid Insurance 1,600Notes Receivable (long-term) 2,800Equipment 15,000Accumulated Depreciation3,000Accounts Payable 2,400Accrued Expenses Payable 3,920Income Taxes Payable 2,700Unearned Rent Fees 500Common Stock 7,700Dividends 2,000Rent Fees Earned37,000Furniture Rental Revenue 1,300Wages Expense 19,000Depreciation Expense 1,800Utilities Expense 320Insurance Expense 700Maintenance Expense 9,000Income Tax Expense 2,700 Totals58,52058,520 The entry required to close the expense accounts at the end of the period includes a:
Beachside Realty ADJUSTED TRIAL BALANCE December 31, 20Y2 ACCOUNT TITLE DEBIT CREDIT 1 Cash 1,500.00 2...
Beachside Realty ADJUSTED TRIAL BALANCE December 31, 20Y2 ACCOUNT TITLE DEBIT CREDIT 1 Cash 1,500.00 2 Accounts Receivable 2,000.00 3. Interest Receivable 100.00 4 Prepaid Insurance 1,600.00 5 Notes Receivable long-term) 2,800.00 6 Equipment 15,000.00 7. Accumulated Depreciation 3,000.00 8 Accounts Payable 2,400.00 9 Accrued Expenses Payable 3,920.00 10 Income Taxes Payable 2,700.00 11 Unearned Rent Fees 500.00 12 Common Stock 5,000.00 13 Retained Earnings 2,700.00 14 Dividends 2,000.00 15 Rent Fees Earned 37,000.00 16 Furniture Rental Revenue 1,200.00 17...
Closing Entries The adjusted trial balance shown below is for Batton, Inc., at December 31: BATTON,...
Closing Entries The adjusted trial balance shown below is for Batton, Inc., at December 31: BATTON, INC. Adjusted Trial Balance December 31 Debit Credit Cash $4,000 Accounts Receivable 8,000 Prepaid Insurance 3,600 Equipment 75,000 Accum. Depreciation. - Equipment $12,500 Accounts Payable 600 Common Stock 30,000 Retained Earnings 14,100 Cash Dividends 7,000 Service Fees Earned 101,200 Miscellaneous Income 4,200 Salaries Expense 42,800 Rent Expense 12,900 Insurance Expense 1,800 Depreciation expense 8,000 Income Tax Expense 8,300 Income Tax Payable 8,800 Totals $171,400...
Closing Entries The adjusted trial balance shown below is for Batton, Inc., at December 31: BATTON,...
Closing Entries The adjusted trial balance shown below is for Batton, Inc., at December 31: BATTON, INC. Adjusted Trial Balance December 31 Debit Credit Cash $4,000 Accounts Receivable 8,000 Prepaid Insurance 3,600 Equipment 75,000 Accum. Depreciation - Equipment $12.500 Accounts Payable 600 Common Stock 30.000 Retained Earnings 14,100 Cash Dividends 7.000 Service Fees Earned 101,200 Miscellaneous Income 4.200 Salaries Expense 42.800 Rent Expense 12.900 Insurance Expense 1.800 Depreciation expense 8.000 Income Tax Expense 8,300 Income Tax Payable 8.800 Totals $171,400...
Presented below is an adjusted trial balance for Shawn Company, at December 31, 2018. Cash $...
Presented below is an adjusted
trial balance for Shawn Company, at December 31, 2018. Cash $ 7,700
Accounts payable $10,000 Accounts receivable 20,000 Notes payable
9,000 Prepaid insurance 15,000 Accumulated depreciation—Equipment
14,000 Equipment 35,000 Service revenue 29,000 Depreciation expense
7,000 Common stock 10,000 Dividends 1,500 Retained earnings 14,000
Advertising expense 1,400 Unearned service revenue 16,000 Rent
expense 800 Salaries and wages expense 12,000 Insurance expense
1,600 $102,000 $102,000
Question 5 Presented below is an adjusted trial balance for Shawn Company,...
use the following adjusted trial balance sheet for Anderesen corporation for the answers to a b...
use
the following adjusted trial balance sheet for Anderesen
corporation for the answers to a b and c
Adjusted Trial Balance For the Year Ending December 31, 2016 Debit Credit Cash $44,000 Accounts receivable 56,000 Equipment 376,000 Accumulated depreciation $72,000 Notes payable 60,000 Common stock 130,000 Retained earnings 142,000 Service fees earned 348,000 Rent expense 88,000 Salaries expense 116,000 Depreciation expense 72,000 0 Totals $752,000 $752,000 a. Based on Anderson's adjusted trial balance, Net Income for the period equals? b....
Financial Statements and Closing Entries The adjusted trial balance shown below is for Fine Consulting Service...
Financial Statements and Closing Entries The adjusted trial balance shown below is for Fine Consulting Service as of December 31. Byran Sharpe made no capital contributions during the year. SHARPE CONSULTING SERVICE Adjusted Trial Balance December 31 Debit Credit Cash $2,900 Accounts Receivable 3,270 Supplies 5,060 Prepaid Insurance 1,500 Equipment 6,400 Accum. Depr. - Equipment $1,080 Accounts Payable 845 Long - Term Notes Payable 7,200 Common Stock 2,800 Retained Earnings 5,205 Dividends 2,900 Service Fees Earned 62,600 Rent Expense 15,500...
Calculator Shores Sports rents canoes and kayaks. Below is the adjusted trial balance at December 31. Debit Credit 1,500 Cash Accounts Receivable 2,000 100 1,600 Interest Receivable Prepaid Insurance Notes Receivable (Long-Term) 2,800 15,000 Equipment Accumulated Depreciation 3,000 2,400 Accounts Payable Accrued Expenses Payable Income Taxes Payable 3,920 2,700 500 7,700 Uneamed Rent Fees Common Stock 2,000 Dividends Rent Fees Earned 37,000 1,300 Furniture Rental Revenue 19,000 Wages Expense Depreciation Expense 320 Utilities Expense 700 Insurance Expense 9,000 Maintenance Expense...
Indicate whether each of the following would be reported in the financial statements as a (a) current asset, (b) property, plant, and equipment, (c) current liability, (d) revenue, or (e) expense: 1. Truck Current Asset 2. Accumulated Depreciation Property, Plant, and Equipment 3. Telephone Expense Expense 4. Fees Earned Revenue 5. Wages Payable Current Liability Current Asset 6. Prepaid Insurance 7. Office Supplies 8. Dining Expense Property, Plant, and Equipment Expense Current Liability 9. Unearned Rent Beachside Realty rents condominiums...
Beachside Realty ADJUSTED TRIAL BALANCE December 31, 20Y2 ACCOUNT TITLE DEBIT CREDIT 1 Cash 1,500.00 2 Accounts Receivable 2,000.00 3. Interest Receivable 100.00 4 Prepaid Insurance 1,600.00 5 Notes Receivable long-term) 2,800.00 6 Equipment 15,000.00 7. Accumulated Depreciation 3,000.00 8 Accounts Payable 2,400.00 9 Accrued Expenses Payable 3,920.00 10 Income Taxes Payable 2,700.00 11 Unearned Rent Fees 500.00 12 Common Stock 5,000.00 13 Retained Earnings 2,700.00 14 Dividends 2,000.00 15 Rent Fees Earned 37,000.00 16 Furniture Rental Revenue 1,200.00 17...
Closing Entries The adjusted trial balance shown below is for Batton, Inc., at December 31: BATTON, INC. Adjusted Trial Balance December 31 Debit Credit Cash $4,000 Accounts Receivable 8,000 Prepaid Insurance 3,600 Equipment 75,000 Accum. Depreciation. - Equipment $12,500 Accounts Payable 600 Common Stock 30,000 Retained Earnings 14,100 Cash Dividends 7,000 Service Fees Earned 101,200 Miscellaneous Income 4,200 Salaries Expense 42,800 Rent Expense 12,900 Insurance Expense 1,800 Depreciation expense 8,000 Income Tax Expense 8,300 Income Tax Payable 8,800 Totals $171,400...
Closing Entries The adjusted trial balance shown below is for Batton, Inc., at December 31: BATTON, INC. Adjusted Trial Balance December 31 Debit Credit Cash $4,000 Accounts Receivable 8,000 Prepaid Insurance 3,600 Equipment 75,000 Accum. Depreciation - Equipment $12.500 Accounts Payable 600 Common Stock 30.000 Retained Earnings 14,100 Cash Dividends 7.000 Service Fees Earned 101,200 Miscellaneous Income 4.200 Salaries Expense 42.800 Rent Expense 12.900 Insurance Expense 1.800 Depreciation expense 8.000 Income Tax Expense 8,300 Income Tax Payable 8.800 Totals $171,400...
Presented below is an adjusted
trial balance for Shawn Company, at December 31, 2018. Cash $ 7,700
Accounts payable $10,000 Accounts receivable 20,000 Notes payable
9,000 Prepaid insurance 15,000 Accumulated depreciation—Equipment
14,000 Equipment 35,000 Service revenue 29,000 Depreciation expense
7,000 Common stock 10,000 Dividends 1,500 Retained earnings 14,000
Advertising expense 1,400 Unearned service revenue 16,000 Rent
expense 800 Salaries and wages expense 12,000 Insurance expense
1,600 $102,000 $102,000
Question 5 Presented below is an adjusted trial balance for Shawn Company,...
use
the following adjusted trial balance sheet for Anderesen
corporation for the answers to a b and c
Adjusted Trial Balance For the Year Ending December 31, 2016 Debit Credit Cash $44,000 Accounts receivable 56,000 Equipment 376,000 Accumulated depreciation $72,000 Notes payable 60,000 Common stock 130,000 Retained earnings 142,000 Service fees earned 348,000 Rent expense 88,000 Salaries expense 116,000 Depreciation expense 72,000 0 Totals $752,000 $752,000 a. Based on Anderson's adjusted trial balance, Net Income for the period equals? b....
Financial Statements and Closing Entries The adjusted trial balance shown below is for Fine Consulting Service as of December 31. Byran Sharpe made no capital contributions during the year. SHARPE CONSULTING SERVICE Adjusted Trial Balance December 31 Debit Credit Cash $2,900 Accounts Receivable 3,270 Supplies 5,060 Prepaid Insurance 1,500 Equipment 6,400 Accum. Depr. - Equipment $1,080 Accounts Payable 845 Long - Term Notes Payable 7,200 Common Stock 2,800 Retained Earnings 5,205 Dividends 2,900 Service Fees Earned 62,600 Rent Expense 15,500...
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