Please correct any that are wrong and explain why
Homework Answers
| Sales revenue | Revenue (4) |
| Unearned revenue | Liability (2) |
| Retained earnings | Stockholders equity (3) |
| Preferred stock | Stockholders equity (3) |
| Interest & other financial charges | Expenses (5) |
| Short term borrowings | Liability (2) |
| Inventories | Assets (1) |
| Cost of sales | Expenses (5) |
| Cash & cash equivalents | Assets (1) |
| Investments | Assets (1) |
| Accounts payables | Liability (2) |
| Property, plant & eqyuipments | Assets (1) |
| Trademarks | Assets (1) |
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Please correct any that are wrong and explain why
Match each account to the correct classification....
I got 8/13, which are wrong? Question 17 (13 points) Saved Match each account to the...
I got 8/13, which are wrong?
Question 17 (13 points) Saved Match each account to the correct classification. Inventories Trademarks Unearned Revenue Short-term Borrowings Interest & Other Financial 1. Asset Charges 2. Liability Sales Revenue 3. Stockholders Equity Retained Earnings 4. Revenue Cash and Cash Equivalents 5. Expense Investments 6. Dividend Property, Plant, & Equipment Accounts payable Preferred Stock Cost of Sales > 4. 4. 6. 2. 3.
PLACE AN X UNDER THE CORRECT CLASSIFICATION AND THE CORRECT FINANCIAL STATEMENT INCOME BALANCE ASSET LIABILITY...
PLACE AN X UNDER THE CORRECT CLASSIFICATION AND THE CORRECT FINANCIAL STATEMENT INCOME BALANCE ASSET LIABILITY EQUITY REVENUE EXPENSE STATEMENT SHEET CASH RETAINED EARNINGS ACCOUNTS PAYABLE ACCOUNTS RECEIVABLE RENT WAGES PAYABLE WAGES EXPENSE ADVERTISING INVENTORY COST OF SALES SALES NOTES PAYABLE NOTES RECEIVABLE BONDS PAYABLE FEDERAL INCOME TAX PAYABLE COMMON STOCK EQUIPMENT DIVIDENDS LAND DEPRECIATION ACCUMULATED DEPRECIATION UNEARNED RENT GAIN ON SALE OF EQUIPMENT INTEREST EXPENSE INTEREST INCOME
HELP FAST PLEASE The following financial statement items were taken from the financial statements of Gomez...
HELP FAST PLEASE
The following financial statement items were taken from the financial statements of Gomez Corp. Match each of the financial statement items to its proper balance sheet classification. If the item would not appear on a balance sheet, use "Not Applicable." Trademarks Notes payable (current) Interest revenue Income taxes payable Debt investments (long-term) Unearned sales revenue Inventory Accumulated depreciation Land Common stock Advertising expense Mortgage payable (due in 3 years) Trademark Current Liabilities Notes payat Interest reve Long-term...
The following accounts were taken from the financial statements of Lee Company. Match each of the...
The following accounts were taken from the financial statements of Lee Company. Match each of the accounts to its proper balance sheet classification. If the item would not appear on a balance sheet, use "Not Applicable." Accounts Balance Sheet Classification Interest revenue Utilities payable Accounts payable Current Assets Long-term Investments Supplies Bonds payable Goodwill Property, Plant, and Equipment Intangible Assets Current Liabilities Common stock Accumulated depreciation-equipmer Equipment Long-term Liabilities Stockholders' Equity Salaries and wages expense Debt investments (long-term) Not Applicable...
For the below Income Statement and Balance Sheet, you are to match the Available Choices with...
For the below Income Statement and Balance Sheet, you are to match the Available Choices with the Accounts that are missing numbers. Gross margin 100,000 Accounts receivable 15,000 Goodwill 10,000 Net income 20,000 Cash and cash equivalents 10,000 Inventories 20,000 Retained earnings 20,000 Cost of Goods Sold 400,000 Property, plant and equipment, net 150,000 Operating income 30,000 Bank notes 13,000 Income before income taxes 26,000 Total assets ...
acct hw help An intangible asset derives its value from the rights and privileges it provides...
acct hw help
An intangible asset derives its value from the rights and privileges it provides the owner. is converted into a tangible asset during the operating cycle. is worthless because it has no physical substance. cannot be classified on the balance sheet because it lacks physical substance. QUESTION 11 Which of the following is not a liability? Unearned Service Revenue Notes Payable Prepaid Insurance Interest Payable QUESTION 12 5 0 0 0 0 An investment by the stockholders in...
Problem 5 : P13-41A Background: D-Mobile Wireless needed additional capital to expand, so the business incorporated....
Problem 5 : P13-41A Background: D-Mobile Wireless needed additional capital to expand, so the business incorporated. The charter from the state of Georgia authorizes D-Mobile to issue 50,000 shares of 8%, $50 par value cumulative preferred stock and 160,000 shares of $4 par value common stock. D-Mobile entered into the transactions listed in the Transactions section below during October 2018. Assignment: 1) Using the General Journal tab, click Add Transaction to journalize each transaction. Click Post Transaction once you complete...
asset, expense, liability or revenue Check my work According to its annual report, P&G's billion-dollar brands...
asset, expense, liability or revenue
Check my work According to its annual report, P&G's billion-dollar brands include Pampers, Tide, Ariel, Always, Pantene, Bounty. Charmin, Downy, Olay, Crest, Vicks, Gillette, Duracell, and others. The following are items taken from its recent balanc sheet and income statement. Note that different companies use slightly different titles for the same item. Select each item in the following list as an asset, liability, or stockholders' equity item that would appear on the balance sheet or...
Your answer is partially correct. Presented below is the balance sheet of Grouper Corporation for the...
Your answer is partially correct. Presented below is the balance sheet of Grouper Corporation for the current year, 2020. GROUPER CORPORATION BALANCE SHEET DECEMBER 31, 2020 Current assets $ 489,990 Current liabilities Investments 644,990 Long-term liabilities Property, plant, and equipment 1,724,990 Stockholders' equity Intangible assets 305,000 $3,164,970 $ 384,990 1,004,990 1,774,990 $3,164,970 2. The following information is presented. 1. The current assets section includes cash $154,990, accounts receivable $174,990 less $14,990 for allowance for doubtful accounts, inventories $184,990, and unearned...
Exercise 5-4 Your answer is partially correct. Try again. Assume that Denis Savard Inc. has the...
Exercise 5-4 Your answer is partially correct. Try again. Assume that Denis Savard Inc. has the following accounts at the end of the current year, 1. Common Stock 2. Discount on Bonds Payable. 3. Treasury Stock (at cost). 4. Notes Payable (short-term). 5. Raw Materials 6. Preferred Stock (Equity) Investments (long-term). 7. Unearned Rent Revenue. 8. Work in Process. 9. Copyrights. 10. Buildings. 11. Notes Receivable (short-term). 12. Cash 13. Salaries and Wages Payable. 14. Accumulated Depreciation-Buildings. 15. Cash Restricted...
I got 8/13, which are wrong?
Question 17 (13 points) Saved Match each account to the correct classification. Inventories Trademarks Unearned Revenue Short-term Borrowings Interest & Other Financial 1. Asset Charges 2. Liability Sales Revenue 3. Stockholders Equity Retained Earnings 4. Revenue Cash and Cash Equivalents 5. Expense Investments 6. Dividend Property, Plant, & Equipment Accounts payable Preferred Stock Cost of Sales > 4. 4. 6. 2. 3.
PLACE AN X UNDER THE CORRECT CLASSIFICATION AND THE CORRECT FINANCIAL STATEMENT INCOME BALANCE ASSET LIABILITY EQUITY REVENUE EXPENSE STATEMENT SHEET CASH RETAINED EARNINGS ACCOUNTS PAYABLE ACCOUNTS RECEIVABLE RENT WAGES PAYABLE WAGES EXPENSE ADVERTISING INVENTORY COST OF SALES SALES NOTES PAYABLE NOTES RECEIVABLE BONDS PAYABLE FEDERAL INCOME TAX PAYABLE COMMON STOCK EQUIPMENT DIVIDENDS LAND DEPRECIATION ACCUMULATED DEPRECIATION UNEARNED RENT GAIN ON SALE OF EQUIPMENT INTEREST EXPENSE INTEREST INCOME
HELP FAST PLEASE
The following financial statement items were taken from the financial statements of Gomez Corp. Match each of the financial statement items to its proper balance sheet classification. If the item would not appear on a balance sheet, use "Not Applicable." Trademarks Notes payable (current) Interest revenue Income taxes payable Debt investments (long-term) Unearned sales revenue Inventory Accumulated depreciation Land Common stock Advertising expense Mortgage payable (due in 3 years) Trademark Current Liabilities Notes payat Interest reve Long-term...
The following accounts were taken from the financial statements of Lee Company. Match each of the accounts to its proper balance sheet classification. If the item would not appear on a balance sheet, use "Not Applicable." Accounts Balance Sheet Classification Interest revenue Utilities payable Accounts payable Current Assets Long-term Investments Supplies Bonds payable Goodwill Property, Plant, and Equipment Intangible Assets Current Liabilities Common stock Accumulated depreciation-equipmer Equipment Long-term Liabilities Stockholders' Equity Salaries and wages expense Debt investments (long-term) Not Applicable...
acct hw help
An intangible asset derives its value from the rights and privileges it provides the owner. is converted into a tangible asset during the operating cycle. is worthless because it has no physical substance. cannot be classified on the balance sheet because it lacks physical substance. QUESTION 11 Which of the following is not a liability? Unearned Service Revenue Notes Payable Prepaid Insurance Interest Payable QUESTION 12 5 0 0 0 0 An investment by the stockholders in...
asset, expense, liability or revenue
Check my work According to its annual report, P&G's billion-dollar brands include Pampers, Tide, Ariel, Always, Pantene, Bounty. Charmin, Downy, Olay, Crest, Vicks, Gillette, Duracell, and others. The following are items taken from its recent balanc sheet and income statement. Note that different companies use slightly different titles for the same item. Select each item in the following list as an asset, liability, or stockholders' equity item that would appear on the balance sheet or...
Your answer is partially correct. Presented below is the balance sheet of Grouper Corporation for the current year, 2020. GROUPER CORPORATION BALANCE SHEET DECEMBER 31, 2020 Current assets $ 489,990 Current liabilities Investments 644,990 Long-term liabilities Property, plant, and equipment 1,724,990 Stockholders' equity Intangible assets 305,000 $3,164,970 $ 384,990 1,004,990 1,774,990 $3,164,970 2. The following information is presented. 1. The current assets section includes cash $154,990, accounts receivable $174,990 less $14,990 for allowance for doubtful accounts, inventories $184,990, and unearned...
Exercise 5-4 Your answer is partially correct. Try again. Assume that Denis Savard Inc. has the following accounts at the end of the current year, 1. Common Stock 2. Discount on Bonds Payable. 3. Treasury Stock (at cost). 4. Notes Payable (short-term). 5. Raw Materials 6. Preferred Stock (Equity) Investments (long-term). 7. Unearned Rent Revenue. 8. Work in Process. 9. Copyrights. 10. Buildings. 11. Notes Receivable (short-term). 12. Cash 13. Salaries and Wages Payable. 14. Accumulated Depreciation-Buildings. 15. Cash Restricted...
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