Homework Answers
--Requirements
| Cash | $12,060 | |
| Equipment | $38,860 | |
| Accounts receivables | $18,090 | |
| Total Assets | $69,010 | Answer #1 |
| Service revenue | $72,360 | |
| Less: Expenses | ||
| Advertising expense | $8,040 | |
| Salaries & wages expense | $22,110 | |
| Rent expense | $13,132 | |
| Net Income | $29,078 | Answer #2 |
| Total Assets | $69,010 | |
| Less: Total Liabilities- | ||
| Accounts Payable | $4,020 | |
| Notes Payable | $33,500 | |
| Total Stockholder's equity | $31,490 | Answer #3 |
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Presented below is selected information related to Wildhorse Co. at December 31, 2019. Wildhorse Co. reports...
Presented below is selected information related to Swifty Corporation at December 31, 2019. Swifty Corporation reports...
Presented below is selected information related to Swifty Corporation at December 31, 2019. Swifty Corporation reports financial information monthly Accounts Payable $3,120 Salaries and Wages Expense Cash 9,360 Notes Payable Advertising Expense 6,240 Rent Expense $17.160 26,000 10,192 14.040 7,800 Service Revenue 56,160 Accounts Receivable Dividends Equipment 30,160 Determine the total assets of Swifty Corporation at December 31, 2019. Total assets of Swifty Corporation $ eTextbook and Media Determine the net income that Swifty Corporation reported for December 2014 Net...
Presented below is selected information related to Dubai Company at December 31, 2020. The reports of...
Presented below is selected information related to Dubai Company at December 31, 2020. The reports of financial information shows monthly the following (amounts in thousands). Accounts Payable HK$ 3,000 Salaries and Wages Expense HK$16,500 Cash 6,500 Notes Payable 25,000 Advertising Expense 6,000 Rent Expense 10,500 Service Revenue 53,500 Accounts Receivable 13,500 Equipment 29,000 Owner's Drawings 7,500 a. Determine the total assets of at December 31, 2020. b. Determine the net income that reported for December 2020. c. Determine the owner's...
Presented below is selected information related to Kirby Company at December 31, 2017. Kirby reports financial informati...
Presented below is selected information related to Kirby Company
at December 31, 2017. Kirby reports financial information
monthly.
1) Determine the total assets of Kirby Company at December 31,
2017.
2) Determine the total net income that Kirby Company reported
for December 2017.
3) Determine the owner’s equity of Kirby Company at December 31,
2017.
Salaries and Wages Expense $ 3,193 $17,563 Accounts Payable 6919 Notes Payable 26,610 Cash Advertising Expense 6386 Rent Expense 11,176 Service Revenue 56,945 Accounts Receivable...
G bandate KUCOLICIT 14 ew Policies urrent Attempt in Progress Presented below is selected information related...
G bandate KUCOLICIT 14 ew Policies urrent Attempt in Progress Presented below is selected information related to Swifty Corporation at December 31, 2019. Swifty Corporation reports financial information monthly Accounts Payable Cash Advertising Expense Service Revenue 53.120 Salaries and Wages Expense $17.160 9.360 Notes Payable 26,000 6,240 Rent Expense 10.192 5 6,160 Accounts Receivable 14,040 30.160 Dividends Equipment 7.800 Determine the total assets of Swifty Corporation at December 31 20 Total assets of Swifty Corporation $ e Textbook and Media...
Presented below is the adjusted trial balance of Wildhorse Corporation at December 31, 2020. Debit Credit...
Presented below is the adjusted trial balance of Wildhorse Corporation at December 31, 2020. Debit Credit Cash $ ? 1,430 1,230 48,230 $ 4,230 1,180 10,230 730 Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Trademarks Accounts Payable Salaries and Wages Payable Unearned Service Revenue Bonds Payable (due 2027) Common Stock Retained Earnings Service Revenue Salaries and Wages Expense Insurance Expense Rent Expense Interest Expense 2,230 9,230 10,230 25,230 10,230 9,230 1,630 1,430 1,130 Total $ ? $ ? Additional information: 1....
Question 8 Wildhorse Co. began operations on January 1,2017. The following information is available for Wildhorse...
Question 8 Wildhorse Co. began operations on January 1,2017. The following information is available for Wildhorse Co. on December 31, 2017. Accounts payable 7,300 Notes payable 11,600 Accounts receivable 4,300 Rent expense Advertising expense 4,130 Retaid earnings? Cash Common stock Dividends Equipment 12,300 5,400 Service revenue 17,300 Supplies 29,600 4,200 4,800 Supplies expense 1,570 29,100 Prepare an income statement for Wildhorse Co.. Wildhorse Co. Income Statement For the Year Ended December 31,2017 evenues Service Revenue 29600 xpenses Rent Expense Advertising...
Exercise 12-9 Here are comparative balance sheets for Wildhorse Co.. 2018 Wildhorse Co. Comparative Balance Sheets...
Exercise 12-9 Here are comparative balance sheets for Wildhorse Co.. 2018 Wildhorse Co. Comparative Balance Sheets December 31 Assets 2019 Cash $ 73,000 Accounts receivable 86,500 Inventory 170,000 Land 72,900 Equipment 261,000 Accumulated depreciation-equipment (66,000) Total $597,400 Liabilities and Stockholders' Equity Accounts payable $ 35,400 Bonds payable 148,800 Common stock ($1 par) 216,500 Retained earnings 196,700 Total $597,400 $ 33,400 70,900 187,000 100,300 200,700 (34,200) $558,100 $ 47,000 203,600 175,300 132,200 $558,100 Additional information: 1. Net Income for 2019 was...
Problem 1: Presented below is selected data related to Mike Corporation at December 31, 2020. Mike...
Problem 1: Presented below is selected data related to Mike Corporation at December 31, 2020. Mike reports financial information monthly. Service Revenue $36,000 Utilities Expense $4,000 Cash 8,000 Accounts Receivable 9,000 Equipment 10,000 Salaries and Wages Expense 7,000 Rent Expense 11,000 Notes Payable 16,500 Accounts payable 2,000 Dividends 5,000 Instructions: Determine the total assets of the firm Determine the net income of the firm (Show Your Work) Determine the stockholders’ equity of the firm (Show your work) Determine the total liabilities of the firm
The following are financial statements of Wildhorse Co.. Wildhorse Co. Income Statement For the Year Ended...
The following are financial statements of Wildhorse Co.. Wildhorse Co. Income Statement For the Year Ended December 31, 2022 Net sales $2,239,000 Cost of goods sold 1.015.000 Selling and administrative expenses 910,000 75,000 Interest expense Income tax expense 73,000 $ 166,000 Net income Wildhorse Co. Balance Sheet December 31, 2022 Assets Current assets Cash $ 56,200 Debt investments 87,000 Accounts receivable (net) 168,300 Inventory 161,350 Total current assets 472,850 Plant assets (net) 572,000 $ 1,044,850 Total assets Liabilities and Stockholders'...
? ? The December 31, 2019, balance sheet for Baird Corporation is presented here. These are...
? ? The December 31, 2019, balance sheet for Baird Corporation is presented here. These are the only accounts on Baird's balance sheet. Amounts Indicated by question marks (?) can be calculated using the following additional Information: BAIRD CORPORATION Balance Sheet As of December 31, 2019 Assets Cash $ 20,000 Accounts receivable (net) Inventory Property, plant, and equipment (net) 295,000 $442,eee Liabilities and Stockholders' Equity Accounts payable (trade) $ 2 Income taxes payable (current) 20,000 Long-term debt ? Connon stock...
Presented below is selected information related to Swifty Corporation at December 31, 2019. Swifty Corporation reports financial information monthly Accounts Payable $3,120 Salaries and Wages Expense Cash 9,360 Notes Payable Advertising Expense 6,240 Rent Expense $17.160 26,000 10,192 14.040 7,800 Service Revenue 56,160 Accounts Receivable Dividends Equipment 30,160 Determine the total assets of Swifty Corporation at December 31, 2019. Total assets of Swifty Corporation $ eTextbook and Media Determine the net income that Swifty Corporation reported for December 2014 Net...
Presented below is selected information related to Dubai Company at December 31, 2020. The reports of financial information shows monthly the following (amounts in thousands). Accounts Payable HK$ 3,000 Salaries and Wages Expense HK$16,500 Cash 6,500 Notes Payable 25,000 Advertising Expense 6,000 Rent Expense 10,500 Service Revenue 53,500 Accounts Receivable 13,500 Equipment 29,000 Owner's Drawings 7,500 a. Determine the total assets of at December 31, 2020. b. Determine the net income that reported for December 2020. c. Determine the owner's...
Presented below is selected information related to Kirby Company
at December 31, 2017. Kirby reports financial information
monthly.
1) Determine the total assets of Kirby Company at December 31,
2017.
2) Determine the total net income that Kirby Company reported
for December 2017.
3) Determine the owner’s equity of Kirby Company at December 31,
2017.
Salaries and Wages Expense $ 3,193 $17,563 Accounts Payable 6919 Notes Payable 26,610 Cash Advertising Expense 6386 Rent Expense 11,176 Service Revenue 56,945 Accounts Receivable...
G bandate KUCOLICIT 14 ew Policies urrent Attempt in Progress Presented below is selected information related to Swifty Corporation at December 31, 2019. Swifty Corporation reports financial information monthly Accounts Payable Cash Advertising Expense Service Revenue 53.120 Salaries and Wages Expense $17.160 9.360 Notes Payable 26,000 6,240 Rent Expense 10.192 5 6,160 Accounts Receivable 14,040 30.160 Dividends Equipment 7.800 Determine the total assets of Swifty Corporation at December 31 20 Total assets of Swifty Corporation $ e Textbook and Media...
Presented below is the adjusted trial balance of Wildhorse Corporation at December 31, 2020. Debit Credit Cash $ ? 1,430 1,230 48,230 $ 4,230 1,180 10,230 730 Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Trademarks Accounts Payable Salaries and Wages Payable Unearned Service Revenue Bonds Payable (due 2027) Common Stock Retained Earnings Service Revenue Salaries and Wages Expense Insurance Expense Rent Expense Interest Expense 2,230 9,230 10,230 25,230 10,230 9,230 1,630 1,430 1,130 Total $ ? $ ? Additional information: 1....
Question 8 Wildhorse Co. began operations on January 1,2017. The following information is available for Wildhorse Co. on December 31, 2017. Accounts payable 7,300 Notes payable 11,600 Accounts receivable 4,300 Rent expense Advertising expense 4,130 Retaid earnings? Cash Common stock Dividends Equipment 12,300 5,400 Service revenue 17,300 Supplies 29,600 4,200 4,800 Supplies expense 1,570 29,100 Prepare an income statement for Wildhorse Co.. Wildhorse Co. Income Statement For the Year Ended December 31,2017 evenues Service Revenue 29600 xpenses Rent Expense Advertising...
Exercise 12-9 Here are comparative balance sheets for Wildhorse Co.. 2018 Wildhorse Co. Comparative Balance Sheets December 31 Assets 2019 Cash $ 73,000 Accounts receivable 86,500 Inventory 170,000 Land 72,900 Equipment 261,000 Accumulated depreciation-equipment (66,000) Total $597,400 Liabilities and Stockholders' Equity Accounts payable $ 35,400 Bonds payable 148,800 Common stock ($1 par) 216,500 Retained earnings 196,700 Total $597,400 $ 33,400 70,900 187,000 100,300 200,700 (34,200) $558,100 $ 47,000 203,600 175,300 132,200 $558,100 Additional information: 1. Net Income for 2019 was...
The following are financial statements of Wildhorse Co.. Wildhorse Co. Income Statement For the Year Ended December 31, 2022 Net sales $2,239,000 Cost of goods sold 1.015.000 Selling and administrative expenses 910,000 75,000 Interest expense Income tax expense 73,000 $ 166,000 Net income Wildhorse Co. Balance Sheet December 31, 2022 Assets Current assets Cash $ 56,200 Debt investments 87,000 Accounts receivable (net) 168,300 Inventory 161,350 Total current assets 472,850 Plant assets (net) 572,000 $ 1,044,850 Total assets Liabilities and Stockholders'...
? ? The December 31, 2019, balance sheet for Baird Corporation is presented here. These are the only accounts on Baird's balance sheet. Amounts Indicated by question marks (?) can be calculated using the following additional Information: BAIRD CORPORATION Balance Sheet As of December 31, 2019 Assets Cash $ 20,000 Accounts receivable (net) Inventory Property, plant, and equipment (net) 295,000 $442,eee Liabilities and Stockholders' Equity Accounts payable (trade) $ 2 Income taxes payable (current) 20,000 Long-term debt ? Connon stock...
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