Homework Answers
Retained Earnings, December 2010 = $3,500
Retained Earnings, December 2009 = $1,500
Net Income, 2010 = $4,500
Retained Earnings, December 2010 = Retained Earnings, December
2009 + Net Income, 2010 - Dividends, 2010
$3,500 = $1,500 + $4,500 - Dividends, 2010
Dividends, 2010 = $2,500
So, Jones paid a dividend of $2,500 in 2010.
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December December 2009 2010 Net Income $2,500 $4,500 Accounts receivable 800 1000 Accumulated depreciation 1,000 1,500...
$ 3,500 8,500 2,500 16,90 Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Utilities Payable...
$ 3,500 8,500 2,500 16,90 Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Utilities Payable Deferred Revenue Common Stock Retained Earnings Totals $ 4,000 2,eee 3,000 13,eee 8,5ee $30,500 $30,500 The following is a summary of the transactions for the year 1. January 24 Provide plumbing services for cash, $10,000, and on account, $55,000. 2. March 13 Collect on accounts receivable, $43,000. 3. May 6 Issue shares of common stock in exchange for $12,000 cash. 4. June 30 Pay...
Calculator December 31 6,255 2,779 633 14,739 Cash Accounts Receivable Prepaid Expenses Equipment Accumulated Depreciation Accounts...
Calculator December 31 6,255 2,779 633 14,739 Cash Accounts Receivable Prepaid Expenses Equipment Accumulated Depreciation Accounts Payable Notes Payable Common Stock Retained Earnings Dividends Fees Earned Wages Expense Rent Expense Utilities Expense Depreciation Expense Miscellaneous Expense 9,207 1,466 4,449 1,000 4,958 790 8,202 2,543 798 458 182 105 29,282 Totals 29,282 Determine the net income (loss) for the period. Oa. Net income $3,326 Ob. Net loss $3,326 Oc. Net loss $4,116 Od. Net income $4,116 Next > Email Instructor Submit...
December 31 Cash 6,224 Accounts Receivable 2,435 Prepaid Expenses 694 14,493 Equipment Accumulated Depreciation 3,806 Accounts...
December 31 Cash 6,224 Accounts Receivable 2,435 Prepaid Expenses 694 14,493 Equipment Accumulated Depreciation 3,806 Accounts Payable 1,606 Notes Payable 4,908 Common Stock 1,000 Retained Earnings 10,891 828 Dividends Fees Earned 6,700 Wages Expense 2,701 Rent Expense 761 Utilities Expense Depreciation Expense Miscellaneous Expense 443 219 113 Totals 28,911 28,911 Determine the current assets. Oa. $20,040 Ob. $28,911 c. $11,891 d. $9,353
December 31 Cash 5,703 Accounts Receivable 2,315 Prepaid Expenses 765 Equipment 15,560 Accumulated Depreciation 1,846 Accounts...
December 31 Cash 5,703 Accounts Receivable 2,315 Prepaid Expenses 765 Equipment 15,560 Accumulated Depreciation 1,846 Accounts Payable 1,670 Notes Payable 4,135 Common Stock 1,000 Retained Earnings 13,418 Dividends 608 Fees Earned 6,931 Wages Expense 2,684 Rent Expense 729 Utilities Expense 387 170 Depreciation Expense Miscellaneous Expense 79 Totals 29,000 29,000 Determine the total assets. Oa. $29,000 Ob. $14,418 Oc. $24,343 Od. $22,497
Cash 11,000 Accounts Receivable 7,300 Prepaid Rent 2,200 Equipment 23,000 Accumulated Depreciation-Equip. 4,500 Notes Payable 5,700...
Cash 11,000 Accounts Receivable 7,300 Prepaid Rent 2,200 Equipment 23,000 Accumulated Depreciation-Equip. 4,500 Notes Payable 5,700 Accounts Payable 4,500 Common Stock 22,790 Retained Earnings 7,030 Dividends 3,600 Service Revenue 15,200 Salaries and Wages Expense 11,000 Rent Expense 900 Depreciation Expense Interest Expense Interest Payable Totals 59,750 59,750 NO. Date ACCOUNE Trues and explanation WEDNE (1) Apr. 30 (To dose revenue account) (2) Apr. 30 (To dose expense accounts) (3) Apr. 30 (To dose net income / (loss)) (4) Apr. 30...
Data Table Cash 10,000 Accounts receivable 18,900 Supplies 2,000 1,300 Prepaid rent Equipment 36,900 Accumulated depreciation-equipment...
Data Table Cash 10,000 Accounts receivable 18,900 Supplies 2,000 1,300 Prepaid rent Equipment 36,900 Accumulated depreciation-equipment 4,100 Accounts payable 8,700 Interest payable 800 Unearned service revenue 500 Income tax payable 2,000 Note payable 18,400 Common stock 11,000 Retained earnings 5,000 Dividends 3,000 Service revenue 98,900 Depreciation expense-equipment 1,300 Salary expense 49,800 Rent expense 11,200 Interest expense 2,500 Insurance expense 3,500 2,100 Supplies expense 6,900 Income tax expense 149,400 $ 149,400 Total Print Done %24 The adjusted trial balance for the...
5,478 "Accumulated Depreciation 1,730 Accounts Payable 4,570 Notes Payable 1,000 Common Stock 8,468 Retained Earnings 700...
5,478 "Accumulated Depreciation 1,730 Accounts Payable 4,570 Notes Payable 1,000 Common Stock 8,468 Retained Earnings 700 Dividends 6,292 Fees Earned 3 311 Wages Expense 725 Rent Expense 383 Utilities Expense 185 Depreciation Expense 122 Miscellaneous Expense 28,538 28,538 Totals Determine the total liabilities for the period. O$10,468 $17.634 56 300 O $11.778 The following is the adjusted trial balance for Stockton Company. Stockton Company Adjusted Trial Balance December 31 Cash 6, 53 Accounts Receivable 2,366 Prepaid Expenses 782 Equipment 13,811...
please prepare the cash flow statement Rhodes Corporation: Income Statements for Year Ending December 31 (Millions...
please prepare the cash flow statement
Rhodes Corporation: Income Statements for Year Ending December 31 (Millions of Dollars) 2009 S10,000 8,500 360 S 1,140 100 040 416 2010 Sales $11,000 Operating costs excluding depreciation Depreciation Earnings before interest and taxes 9,360 Less interest Earnings before taxes S 1,260 120 S 1,140 S 1, Taxes (40%) Net income available to common stockholders S 684 S 220 Common dividends S 200 Rhodes Corporation: Bolance Sheets as of December 31 (Millions of Dollors)...
RYAN FINANCIAL PLANNERS Adjusted Trial Balance December 31, 2020 Cash Accounts Receivable Supplies.. Equipment Accumulated Depreciation...
RYAN FINANCIAL PLANNERS Adjusted Trial Balance December 31, 2020 Cash Accounts Receivable Supplies.. Equipment Accumulated Depreciation Equipment Accounts Payable Unearned Service Revenue.. Common Stock Retained Earnings Dividends Service Revenue Supplies Expense Depreciation Expense Rent Expense Debit Credit $ 2.900 2,200 600 16,000 $ 4,000 3,800 4,400 4,700 5,000 2,000 10,000 1,800 2,500 3.900 $31.900 $31.900 Instructions a Using the information given above, prepare the necessary closing entries at December 31, 2020. b. What is the balance in Retained Earnings after...
Please use the correct accounts List of Accounts : Accounts Payable Accounts Receivable Accumulated Depreciation-Buildings Accumulated...
Please use the correct accounts
List of Accounts :
Accounts Payable
Accounts Receivable
Accumulated Depreciation-Buildings
Accumulated Depreciation-Equipment
Accumulated Depreciation-Trucks
Accumulated Depreciation-Vehicles
Advertising Expense
Buildings
Cash
Common Shares
Cost of Goods Sold
Depreciation Expense
Dividends Payable
Equipment
Income Tax Payable
Interest Expense
Interest Payable
Inventory
Land
Miscellaneous Expense
Notes Payable
Operating Expense
Other Expenses
Prepaid Insurance
Prepaid Rent
Rent Expense
Rent Revenue
Retained Earnings
Selling and Administrative Expenses
Supplies Expense
Wages Payable
Wages Expense
Advances to Employees
Bank Loan Payable
Deposits...
$ 3,500 8,500 2,500 16,90 Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Utilities Payable Deferred Revenue Common Stock Retained Earnings Totals $ 4,000 2,eee 3,000 13,eee 8,5ee $30,500 $30,500 The following is a summary of the transactions for the year 1. January 24 Provide plumbing services for cash, $10,000, and on account, $55,000. 2. March 13 Collect on accounts receivable, $43,000. 3. May 6 Issue shares of common stock in exchange for $12,000 cash. 4. June 30 Pay...
Calculator December 31 6,255 2,779 633 14,739 Cash Accounts Receivable Prepaid Expenses Equipment Accumulated Depreciation Accounts Payable Notes Payable Common Stock Retained Earnings Dividends Fees Earned Wages Expense Rent Expense Utilities Expense Depreciation Expense Miscellaneous Expense 9,207 1,466 4,449 1,000 4,958 790 8,202 2,543 798 458 182 105 29,282 Totals 29,282 Determine the net income (loss) for the period. Oa. Net income $3,326 Ob. Net loss $3,326 Oc. Net loss $4,116 Od. Net income $4,116 Next > Email Instructor Submit...
December 31 Cash 6,224 Accounts Receivable 2,435 Prepaid Expenses 694 14,493 Equipment Accumulated Depreciation 3,806 Accounts Payable 1,606 Notes Payable 4,908 Common Stock 1,000 Retained Earnings 10,891 828 Dividends Fees Earned 6,700 Wages Expense 2,701 Rent Expense 761 Utilities Expense Depreciation Expense Miscellaneous Expense 443 219 113 Totals 28,911 28,911 Determine the current assets. Oa. $20,040 Ob. $28,911 c. $11,891 d. $9,353
December 31 Cash 5,703 Accounts Receivable 2,315 Prepaid Expenses 765 Equipment 15,560 Accumulated Depreciation 1,846 Accounts Payable 1,670 Notes Payable 4,135 Common Stock 1,000 Retained Earnings 13,418 Dividends 608 Fees Earned 6,931 Wages Expense 2,684 Rent Expense 729 Utilities Expense 387 170 Depreciation Expense Miscellaneous Expense 79 Totals 29,000 29,000 Determine the total assets. Oa. $29,000 Ob. $14,418 Oc. $24,343 Od. $22,497
Cash 11,000 Accounts Receivable 7,300 Prepaid Rent 2,200 Equipment 23,000 Accumulated Depreciation-Equip. 4,500 Notes Payable 5,700 Accounts Payable 4,500 Common Stock 22,790 Retained Earnings 7,030 Dividends 3,600 Service Revenue 15,200 Salaries and Wages Expense 11,000 Rent Expense 900 Depreciation Expense Interest Expense Interest Payable Totals 59,750 59,750 NO. Date ACCOUNE Trues and explanation WEDNE (1) Apr. 30 (To dose revenue account) (2) Apr. 30 (To dose expense accounts) (3) Apr. 30 (To dose net income / (loss)) (4) Apr. 30...
Data Table Cash 10,000 Accounts receivable 18,900 Supplies 2,000 1,300 Prepaid rent Equipment 36,900 Accumulated depreciation-equipment 4,100 Accounts payable 8,700 Interest payable 800 Unearned service revenue 500 Income tax payable 2,000 Note payable 18,400 Common stock 11,000 Retained earnings 5,000 Dividends 3,000 Service revenue 98,900 Depreciation expense-equipment 1,300 Salary expense 49,800 Rent expense 11,200 Interest expense 2,500 Insurance expense 3,500 2,100 Supplies expense 6,900 Income tax expense 149,400 $ 149,400 Total Print Done %24 The adjusted trial balance for the...
5,478 "Accumulated Depreciation 1,730 Accounts Payable 4,570 Notes Payable 1,000 Common Stock 8,468 Retained Earnings 700 Dividends 6,292 Fees Earned 3 311 Wages Expense 725 Rent Expense 383 Utilities Expense 185 Depreciation Expense 122 Miscellaneous Expense 28,538 28,538 Totals Determine the total liabilities for the period. O$10,468 $17.634 56 300 O $11.778 The following is the adjusted trial balance for Stockton Company. Stockton Company Adjusted Trial Balance December 31 Cash 6, 53 Accounts Receivable 2,366 Prepaid Expenses 782 Equipment 13,811...
please prepare the cash flow statement
Rhodes Corporation: Income Statements for Year Ending December 31 (Millions of Dollars) 2009 S10,000 8,500 360 S 1,140 100 040 416 2010 Sales $11,000 Operating costs excluding depreciation Depreciation Earnings before interest and taxes 9,360 Less interest Earnings before taxes S 1,260 120 S 1,140 S 1, Taxes (40%) Net income available to common stockholders S 684 S 220 Common dividends S 200 Rhodes Corporation: Bolance Sheets as of December 31 (Millions of Dollors)...
RYAN FINANCIAL PLANNERS Adjusted Trial Balance December 31, 2020 Cash Accounts Receivable Supplies.. Equipment Accumulated Depreciation Equipment Accounts Payable Unearned Service Revenue.. Common Stock Retained Earnings Dividends Service Revenue Supplies Expense Depreciation Expense Rent Expense Debit Credit $ 2.900 2,200 600 16,000 $ 4,000 3,800 4,400 4,700 5,000 2,000 10,000 1,800 2,500 3.900 $31.900 $31.900 Instructions a Using the information given above, prepare the necessary closing entries at December 31, 2020. b. What is the balance in Retained Earnings after...
Please use the correct accounts
List of Accounts :
Accounts Payable
Accounts Receivable
Accumulated Depreciation-Buildings
Accumulated Depreciation-Equipment
Accumulated Depreciation-Trucks
Accumulated Depreciation-Vehicles
Advertising Expense
Buildings
Cash
Common Shares
Cost of Goods Sold
Depreciation Expense
Dividends Payable
Equipment
Income Tax Payable
Interest Expense
Interest Payable
Inventory
Land
Miscellaneous Expense
Notes Payable
Operating Expense
Other Expenses
Prepaid Insurance
Prepaid Rent
Rent Expense
Rent Revenue
Retained Earnings
Selling and Administrative Expenses
Supplies Expense
Wages Payable
Wages Expense
Advances to Employees
Bank Loan Payable
Deposits...
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