Homework Answers
Answer
1)B.$14,900
| Income Statement | |||
| Cost of Goods sold | 6000 | Sales Revenue | 15000 |
| gross profit | 18400 | Service revenue | 9400 |
| 24400 | 24400 | ||
| By Gross profit | 18400 | ||
| Salaries expenses | 2300 | ||
| Advertising expenses | 1200 | ||
| Net income | 14900 | ||
| Total | 18400 | 18400 | |
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1 8 .00 29. Below are the account balances for a corporation at the end of...
4. Below are the account balances for Huffman Corporation at the end of December. Use only...
4. Below are the account balances for Huffman Corporation at the end of December. Use only the appropriate accounts to prepare an income statement. (10) Accounts Balances Cash $ 5,200 Salaries expense 2,300 Retained earnings 2,500 Advertising expense 1,200 Equipment 12,400 Service revenue 9,400 Common stock 8,000 Accounts payable 2,200 5. On May 1, 2019, a company lends $100,000 to one of its main suppliers and accepts a 12- month, 6% note. Record the acceptance of the note on May...
160. Below are the account balances for Huffman Corporation at the end of December. Use only...
160. Below are the account balances for Huffman Corporation at the end of December. Use only the appropriate accounts to prepare an income statement. Accounts Cash Salaries expense Retained earnings Advertising expense Equipment Service revenue Common stock Accounts payable Balances $ 5,200 2,300 2,500 1,200 12,400 9,400 8,000 2,200 the beginning of the year (January 1), Maurice and Sons bas SI2.000 ore 161. At the beginning of the year (January 1), Maurice and Sons has $12,000 of common stock outstanding...
WCC Financial Accounting Mid-Term 3. Prepare the closing entries for YORK Company for the year ended...
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2. The following is selected financial information for Cargo company for 2012 and 2013: (10) Retained...
2. The following is selected financial information for Cargo company for 2012 and 2013: (10) Retained earnings, January 1 8 83.000 2013 Det income... January 1 Dividends declared and paid Common stock $53,000 37,000 42,000 15,000 18.000 70,000 Issued 2,000 shares of additional capital stock in 2013 for $20,000. There were no other capital transactions. Prepare a statement of stockholders' equity for the year ended December 31, 2013. WCC Financial Accounting Mid-Term 3. Prepare the closing entries for YORK Company...
The account balances for Big Screen Theatre Corporation are listed below. All balances are as of December 31, 2015, except where noted otherwise.
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Fever Corporation has the following account balances. Cash $7,071 Common Stock $1,200 Accounts Receivable $2,352 Rent Expense $1,200 Accounts Payable $2,200 Dividends $1,145 Supplies $1,800 Retained Earnings $2,744 Revenue $11,100 Salary Expense $1,176 Supplies Expense $2,500 How much is owed to this company by its customers? a. $2,744 b. $2,352 c. $1,145 d. $2,200 e. $9,023
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Below are the account balances for Huffman Corporation at the end of December Accounts Cash Salaries...
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The account balances for a company are listed below. All balances are as of Dec 31,...
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4. Below are the account balances for Huffman Corporation at the end of December. Use only the appropriate accounts to prepare an income statement. (10) Accounts Balances Cash $ 5,200 Salaries expense 2,300 Retained earnings 2,500 Advertising expense 1,200 Equipment 12,400 Service revenue 9,400 Common stock 8,000 Accounts payable 2,200 5. On May 1, 2019, a company lends $100,000 to one of its main suppliers and accepts a 12- month, 6% note. Record the acceptance of the note on May...
160. Below are the account balances for Huffman Corporation at the end of December. Use only the appropriate accounts to prepare an income statement. Accounts Cash Salaries expense Retained earnings Advertising expense Equipment Service revenue Common stock Accounts payable Balances $ 5,200 2,300 2,500 1,200 12,400 9,400 8,000 2,200 the beginning of the year (January 1), Maurice and Sons bas SI2.000 ore 161. At the beginning of the year (January 1), Maurice and Sons has $12,000 of common stock outstanding...
WCC Financial Accounting Mid-Term 3. Prepare the closing entries for YORK Company for the year ended December 31, 2019. (10) FM Credit Debit $ 8.000 18,000 415,000 Cash Prepaid Rent Land Accounts Payable Salaries Payable Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Rent Expense Utilities Expense Totals $ 10,000 14.000 250.000 64.000 10,000 350,000 190,000 21.000 26.000 $688,000 $688.000 4. Below are the account balances for Huffman Corporation at the end of December. Use only the appropriate accounts...
2. The following is selected financial information for Cargo company for 2012 and 2013: (10) Retained earnings, January 1 8 83.000 2013 Det income... January 1 Dividends declared and paid Common stock $53,000 37,000 42,000 15,000 18.000 70,000 Issued 2,000 shares of additional capital stock in 2013 for $20,000. There were no other capital transactions. Prepare a statement of stockholders' equity for the year ended December 31, 2013. WCC Financial Accounting Mid-Term 3. Prepare the closing entries for YORK Company...
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Below are the account balances for Huffman Corporation at the end of December Accounts Cash Salaries expense Retained earnings Advertising expense Equipment Service revenue Common stock Accounts payable Balances $ 4,500 2,000 3,000 1,450 11,700 9,900 4,800 1,430 Use only the appropriate accounts to prepare an income statement. HUFFMAN CORPORATION Income Statement For the year ended December 31 Revenues: Expenses: Total expenses
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