Homework Answers
15) Total Cost of borrowing = Total interest expense-Premium on bonds payable = 20000000*9%*10-1000000 = 17000000
So answer is b) $17000000
16) Supplies expense = 11000
So answer is b) $11000
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QUESTION 15 Over the last several years, the Dipan Corporation issued bonds many times Calculate the...
QUESTION 7 The Myra Corporation's March 31 unadjusted trial balance included many accounts, including the following....
QUESTION 7 The Myra Corporation's March 31 unadjusted trial balance included many accounts, including the following. Accounts Payable $28,000 Fees Revenue $96,000 Supplies Expense $10,500 Rent Expense $24,200 Insurance Expense $18,800 Cash $21,000 Supplies $19,000 Prepaid Rent Prepaid Insurance $19,800 During March, the company used up a total of $21,900 supplies. Determine the dollar amount of supplies expense the Corporation would report on its March income statement. a. $11,400 b. $10,500 c. $32,400 d. $21.900
please answer question 4A-7 1) make t charts 4A-23 FOLYMPIA Corporation as of November 4A-7. The...
please answer question 4A-7
1) make t charts
4A-23 FOLYMPIA Corporation as of November 4A-7. The unadjusted trial balance of OLYMPIA Corporation 30, 20x1, is shown on the next page. Data needed for the e adjustments is as follows: Adjustment information: a. Remaining prepaid rent on November 30 is $1,600. b. Supplies on hand at the end of the month were $200. c. Monthly depreciation was $800. d. Additional accrued salary expense at the end of the month was $6,000....
Question No. (5) (15 minutes): The following account balances were obtained from the trial balance of...
Question No. (5) (15 minutes): The following account balances were obtained from the trial balance of Alfa Corporation at 31 December 2016. Supplies 1,000 Cash 32,000 Wages Expense 14,000 Dividends 16,000 Accounts Payable 22,000 Notes Payable 4,000 Retained Earnings, 1 Jan, 2016 8,000 Accounts Receivable ??? Rent Expense 6,000 Share Capital 20,000 Commissions Revenue 30,000 Required: Calculate at, or for the year ended, December 31, 2016 (a) Net income or Loss. (b) Retained Earnings. (c) Total Liabilities and Equity. (d)...
Corporation provided the following account balances as of the end of the current year. The company...
Corporation provided the following account balances as of the
end of the current year. The company is subject to a 45% income
tax rate.
Requirement
Prepare a single-step and a multiple-step statement of net
income for Bob Corporation.
Bob Corporation
Trial Balance (Selected Accounts)
For the Year Ended December 31
Account
Debit
Credit
Dividends
$29,000
Sales
$1,800,000
Interest Income
7,500
Dividend Income
5,800
Unrealized Gain on Trading Securities
24,000
Gain on Disposal of Plant Assets
28,000
Gain on Flood Damage-Before...
During the year, the Nadine Corporation reported revenues of $20,000, expenses of $14,000, and dividends of...
During the year, the Nadine Corporation reported revenues of $20,000, expenses of $14,000, and dividends of $1,000. At the end of the year, the Corporation reported assets of $97,000, liabilities of $34,000, and contributed capital (common stock + additional paid-in capital) of $21,000. Determine the dollar amount of the Corporation's retained earnings at the end of the year a. $42,000 b. $63,000 c. $26,000 d. $5,000 QUESTION 30 The Sean Corporation's July 31 unadjusted trial balance included many accounts, including...
Similar to prehi . 4A-23 4A-7. The unadjusted trial balance of OLYMPIA Corporation as of November...
Similar to prehi . 4A-23 4A-7. The unadjusted trial balance of OLYMPIA Corporation as of November 30, 20x1, is shown on the next page. Data needed for the end-of-month adjustments is as follows: Adjustment information: a. Remaining prepaid rent on November 30 is $1,600. b. Supplies on hand at the end of the month were $200. c. Monthly depreciation was $800. d. Additional accrued salary expense at the end of the month was $6,000. e. $1,900 of commission revenue remained...
The December 31, 2021, unadjusted trial balance for Demon Deacons Corporation is presented below. Credit Debit...
The December 31, 2021, unadjusted trial balance for Demon Deacons Corporation is presented below. Credit Debit $10,000 15,000 7,200 4,000 Accounts Cash Accounts Receivable Prepaid Rent Supplies Deferred Revenue Common Stock Retained Earnings Service Revenue Salaries Expense $ 3,000 11,000 6,000 51,200 35,000 $71,200 $71,200 At year-end, the following additional information is available: 1. The balance of Prepaid Rent, $7,200, represents payment on October 31, 2021, for rent from November 1, 2021, to April 30, 2022 2. The balance of...
the rest of the question Complete Accounting Cycle For the past several years, Jeff Horton has...
the rest of the question
Complete Accounting Cycle For the past several years, Jeff Horton has operated a part-time consulting business from his home. As of April 1, 2016. Jeff decided to move to rented quarters and to operate the business, which was to be known as Rosebud Consulting, on a full-time basis. Rosebud entered into the following transactions during April: Apr. 1. The following assets were received from Jeff Horton in exchange for common stock: cash, $20,000; accounts receivable,...
Need to fillout Statments sheet using the info from the last two pictures. - MAA A...
Need to fillout Statments sheet using the info from the last two
pictures.
- MAA A General F Wrap Test Merge Center 5 -% 9 Condition Formatting 2 Normal forms Calculation Table Bad check Good p lanter BCD Balance Sheet December 31, 2018 Statement of Owners Equity December 31, 2018 3 Assets Income Statement December 31, 2018 301 S Rey - Capital Net Income 73,000 19,547 Revenues 92,547 403 Computer Services Revenue 25,659 38,264 12,618 2,545 2,220 3,300 302 S...
JUST NEED 1 &2 OF LAST PAGE!!! Thank youuuu Denver Mountain Company Trial Balance 11/30/17 Dr...
JUST NEED 1 &2 OF LAST
PAGE!!! Thank youuuu
Denver Mountain Company Trial Balance 11/30/17 Dr 272,000 114,500 TH9 1,000 50,000 55,000 62,000 75,000 32,000 100,000 12,000 18,000 26,250 Cash Accounts Receivable Allowance for Doubtful Accounts Short Term Note Receivable Supplies Inventory Equipment Building Accumulated Depreciation Copyright Accounts Payable Dividends Payable Interest Payable Unearned Revenue ST Note Payable LT Mortgage Payable Bonds Payable Premium on Bonds Payable Common Stock - $1.50 par Paid In Capital In Excess of Par-CS Preferred...
QUESTION 7 The Myra Corporation's March 31 unadjusted trial balance included many accounts, including the following. Accounts Payable $28,000 Fees Revenue $96,000 Supplies Expense $10,500 Rent Expense $24,200 Insurance Expense $18,800 Cash $21,000 Supplies $19,000 Prepaid Rent Prepaid Insurance $19,800 During March, the company used up a total of $21,900 supplies. Determine the dollar amount of supplies expense the Corporation would report on its March income statement. a. $11,400 b. $10,500 c. $32,400 d. $21.900
please answer question 4A-7
1) make t charts
4A-23 FOLYMPIA Corporation as of November 4A-7. The unadjusted trial balance of OLYMPIA Corporation 30, 20x1, is shown on the next page. Data needed for the e adjustments is as follows: Adjustment information: a. Remaining prepaid rent on November 30 is $1,600. b. Supplies on hand at the end of the month were $200. c. Monthly depreciation was $800. d. Additional accrued salary expense at the end of the month was $6,000....
Question No. (5) (15 minutes): The following account balances were obtained from the trial balance of Alfa Corporation at 31 December 2016. Supplies 1,000 Cash 32,000 Wages Expense 14,000 Dividends 16,000 Accounts Payable 22,000 Notes Payable 4,000 Retained Earnings, 1 Jan, 2016 8,000 Accounts Receivable ??? Rent Expense 6,000 Share Capital 20,000 Commissions Revenue 30,000 Required: Calculate at, or for the year ended, December 31, 2016 (a) Net income or Loss. (b) Retained Earnings. (c) Total Liabilities and Equity. (d)...
Corporation provided the following account balances as of the
end of the current year. The company is subject to a 45% income
tax rate.
Requirement
Prepare a single-step and a multiple-step statement of net
income for Bob Corporation.
Bob Corporation
Trial Balance (Selected Accounts)
For the Year Ended December 31
Account
Debit
Credit
Dividends
$29,000
Sales
$1,800,000
Interest Income
7,500
Dividend Income
5,800
Unrealized Gain on Trading Securities
24,000
Gain on Disposal of Plant Assets
28,000
Gain on Flood Damage-Before...
During the year, the Nadine Corporation reported revenues of $20,000, expenses of $14,000, and dividends of $1,000. At the end of the year, the Corporation reported assets of $97,000, liabilities of $34,000, and contributed capital (common stock + additional paid-in capital) of $21,000. Determine the dollar amount of the Corporation's retained earnings at the end of the year a. $42,000 b. $63,000 c. $26,000 d. $5,000 QUESTION 30 The Sean Corporation's July 31 unadjusted trial balance included many accounts, including...
Similar to prehi . 4A-23 4A-7. The unadjusted trial balance of OLYMPIA Corporation as of November 30, 20x1, is shown on the next page. Data needed for the end-of-month adjustments is as follows: Adjustment information: a. Remaining prepaid rent on November 30 is $1,600. b. Supplies on hand at the end of the month were $200. c. Monthly depreciation was $800. d. Additional accrued salary expense at the end of the month was $6,000. e. $1,900 of commission revenue remained...
The December 31, 2021, unadjusted trial balance for Demon Deacons Corporation is presented below. Credit Debit $10,000 15,000 7,200 4,000 Accounts Cash Accounts Receivable Prepaid Rent Supplies Deferred Revenue Common Stock Retained Earnings Service Revenue Salaries Expense $ 3,000 11,000 6,000 51,200 35,000 $71,200 $71,200 At year-end, the following additional information is available: 1. The balance of Prepaid Rent, $7,200, represents payment on October 31, 2021, for rent from November 1, 2021, to April 30, 2022 2. The balance of...
the rest of the question
Complete Accounting Cycle For the past several years, Jeff Horton has operated a part-time consulting business from his home. As of April 1, 2016. Jeff decided to move to rented quarters and to operate the business, which was to be known as Rosebud Consulting, on a full-time basis. Rosebud entered into the following transactions during April: Apr. 1. The following assets were received from Jeff Horton in exchange for common stock: cash, $20,000; accounts receivable,...
Need to fillout Statments sheet using the info from the last two
pictures.
- MAA A General F Wrap Test Merge Center 5 -% 9 Condition Formatting 2 Normal forms Calculation Table Bad check Good p lanter BCD Balance Sheet December 31, 2018 Statement of Owners Equity December 31, 2018 3 Assets Income Statement December 31, 2018 301 S Rey - Capital Net Income 73,000 19,547 Revenues 92,547 403 Computer Services Revenue 25,659 38,264 12,618 2,545 2,220 3,300 302 S...
JUST NEED 1 &2 OF LAST
PAGE!!! Thank youuuu
Denver Mountain Company Trial Balance 11/30/17 Dr 272,000 114,500 TH9 1,000 50,000 55,000 62,000 75,000 32,000 100,000 12,000 18,000 26,250 Cash Accounts Receivable Allowance for Doubtful Accounts Short Term Note Receivable Supplies Inventory Equipment Building Accumulated Depreciation Copyright Accounts Payable Dividends Payable Interest Payable Unearned Revenue ST Note Payable LT Mortgage Payable Bonds Payable Premium on Bonds Payable Common Stock - $1.50 par Paid In Capital In Excess of Par-CS Preferred...
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