Contrail Hospital provides you with the following information: Inventory, December 31, 20X1 $57,000 Inventory, December 31,...
Contrail Hospital provides you with the following information:
Inventory, December 31, 20X1 $57,000
Inventory, December 31, 20X2 60,000
Cost of supplies purchased during 20X2 437,000
What was the cost of supplies used during 20X2?
Homework Answers
Hi
Let me know in case any issue and query:
Supplies used = (Beginning Balance + Purchases - Ending Balance)
Add Answer to:
Contrail Hospital provides you with the following
information:
Inventory, December 31, 20X1 $57,000
Inventory, December 31,...
E3.5. Convex Hospital provides you with the following information: Cost of supplies used during 20X2 Accounts...
E3.5. Convex Hospital provides you with the following information: Cost of supplies used during 20X2 Accounts payable, December 31, 20X1 Accounts payable, December 31, 20X2 Inventory, December 31, 20X1 Inventory, December 31, 20X2 $855,000 200,000 246,000 191,000 100,000 Required: What was the total amount paid on accounts payable during 20X22
Catspaw Hospital provides you with the following information: Accounts payable, December 31, 20X2 $45,000 Purchases of...
Catspaw Hospital provides you with the following information: Accounts payable, December 31, 20X2 $45,000 Purchases of supplies on account during 20X2 316,000 Payments on accounts payable during 20X2 301,000 What was the balance of accounts payable at December 31, 20X1?
E17.2 Quirk Hospital made inventory errors as follows: O · December 31, 20X1 inventory overstated by...
E17.2 Quirk Hospital made inventory errors as follows: O · December 31, 20X1 inventory overstated by $400 • December 31, 20X1 inventory understated by $100 (1) By what amount was the hospital's 20X2 excess of revenues over expenses overstated or understated due to these errors? (2) By what amount were the hospital's net assets (fund balance) overstated or understated at December 31, 20X2 due to these errors?
The following information pertains to Powers Corp. as of December 31, 20X1: Cumulative Preferred stock Dividends...
The following information pertains to Powers Corp. as of December 31, 20X1: Cumulative Preferred stock Dividends in arrears $165,000 20X1 Dividends $75,000 Common Stock 20X1 dividends to be declared in 20X2 $50,000 In addition, Jeff Kurtz, the CFO of Powers Corp. will be paid his 20X1, $120,000 bonus on January 8, 20X2. What amount should Powers Corp. report as current liabilities on its balance sheet at December 31, 20X1?
Following are partial balance sheet data for CCR Ltd. as at December 31, 20x2 and 20x1,...
Following are partial balance sheet data for CCR Ltd. as at December 31, 20x2 and 20x1, and the partial income statement for the year ended December 31, 20x2: Balance Sheets - Cash Inventory Accounts payable Interest payable 20x1 $13393 $3210 92932 82635 45327 34832 1038 20x2 1038 income Statement Revenue Cost of Goods Sold 20x2 $816602 492312 Which of the following is the correct amount for cash paid to suppliers? Select one a. $471520 b. $513104 c. $492510 d. $492114
E6.4. Favor Hospital invested $60,000 in 8 percent government bonds on August 1, 20X1. These bonds,...
E6.4. Favor Hospital invested $60,000 in 8 percent government bonds on August 1, 20X1. These bonds, which were purchased at face value, pay interest annually on August 1, commencing August 1, 20X2. Required: Assuming that adjustments are made annually on December 31 only, prepare the necessary adjusting entry for accrued interest as of December 31, 20X1.
For December 31, 20X1, the balance sheet of Baxter Corporation was as follows: Current Assets Liabilities...
For December 31, 20X1, the balance sheet of Baxter Corporation was as follows: Current Assets Liabilities Cash $ 20,000 Accounts payable $ 22,000 Accounts receivable 25,000 Notes payable 30,000 Inventory 35,000 Bonds payable 60,000 Prepaid expenses 13,000 Fixed Assets Stockholders’ Equity Gross plant and equipment $ 260,000 Preferred stock $ 30,000 Less: Accumulated depreciation 52,000 Common stock 65,000 Paid in Capital 35,000 Net plant and equipment $ 208,000 Retained earnings 59,000 Total assets $ 301,000 Total liabilities and stockholders’ equity...
OLU 5 IULIS. 1) Prepaid professional liability insurance was purchased for $3,200 on December 1, 20X1,...
OLU 5 IULIS. 1) Prepaid professional liability insurance was purchased for $3,200 on December 1, 20X1, and provides insurance coverage from December 1, 20X1, through March 31, 20X2 2) Prepaid rent was paid on December 1, 20X1, in the amount of $30,000 for the six- month period December 1, 20X1, through May 31, 20X2. 3) Equipment was purchased on December 1, 20X1, for $100,000 which is being depreciated monthly based on an estimated life of 8 years. The estimated salvage...
28.5. Goshen Hospital paid an account payable of $4,500 during December 20X1. In the transaction entry,...
28.5. Goshen Hospital paid an account payable of $4,500 during December 20X1. In the transaction entry, however, the debit was made to supplies expense. The error was not discovered until after the financial statements for 20X1 were prepared. What effect would this error have on total assets, total liabilities, and hospital net assets, as reported in the hospital's December 31, 20x1, balance sheet?
Clark Co.'s advertising expense account had a balance of $153241 at December 31, 20x1, before any...
Clark Co.'s advertising expense account had a balance of $153241 at December 31, 20x1, before any necessary year-end adjustment relating to the following: Included in the $153241 is the $16319 cost of printing catalogs for a sales promotional campaign in January 20x2. Radio advertisements broadcast during December 20x1 were billed to Clark on January 2, 20x2. Clark paid the $9107 invoice on January 11, 20x2 What amount should Clark report as advertising expense in its income statement for the year...
E3.5. Convex Hospital provides you with the following information: Cost of supplies used during 20X2 Accounts payable, December 31, 20X1 Accounts payable, December 31, 20X2 Inventory, December 31, 20X1 Inventory, December 31, 20X2 $855,000 200,000 246,000 191,000 100,000 Required: What was the total amount paid on accounts payable during 20X22
E17.2 Quirk Hospital made inventory errors as follows: O · December 31, 20X1 inventory overstated by $400 • December 31, 20X1 inventory understated by $100 (1) By what amount was the hospital's 20X2 excess of revenues over expenses overstated or understated due to these errors? (2) By what amount were the hospital's net assets (fund balance) overstated or understated at December 31, 20X2 due to these errors?
Following are partial balance sheet data for CCR Ltd. as at December 31, 20x2 and 20x1, and the partial income statement for the year ended December 31, 20x2: Balance Sheets - Cash Inventory Accounts payable Interest payable 20x1 $13393 $3210 92932 82635 45327 34832 1038 20x2 1038 income Statement Revenue Cost of Goods Sold 20x2 $816602 492312 Which of the following is the correct amount for cash paid to suppliers? Select one a. $471520 b. $513104 c. $492510 d. $492114
E6.4. Favor Hospital invested $60,000 in 8 percent government bonds on August 1, 20X1. These bonds, which were purchased at face value, pay interest annually on August 1, commencing August 1, 20X2. Required: Assuming that adjustments are made annually on December 31 only, prepare the necessary adjusting entry for accrued interest as of December 31, 20X1.
OLU 5 IULIS. 1) Prepaid professional liability insurance was purchased for $3,200 on December 1, 20X1, and provides insurance coverage from December 1, 20X1, through March 31, 20X2 2) Prepaid rent was paid on December 1, 20X1, in the amount of $30,000 for the six- month period December 1, 20X1, through May 31, 20X2. 3) Equipment was purchased on December 1, 20X1, for $100,000 which is being depreciated monthly based on an estimated life of 8 years. The estimated salvage...
28.5. Goshen Hospital paid an account payable of $4,500 during December 20X1. In the transaction entry, however, the debit was made to supplies expense. The error was not discovered until after the financial statements for 20X1 were prepared. What effect would this error have on total assets, total liabilities, and hospital net assets, as reported in the hospital's December 31, 20x1, balance sheet?
Clark Co.'s advertising expense account had a balance of $153241 at December 31, 20x1, before any necessary year-end adjustment relating to the following: Included in the $153241 is the $16319 cost of printing catalogs for a sales promotional campaign in January 20x2. Radio advertisements broadcast during December 20x1 were billed to Clark on January 2, 20x2. Clark paid the $9107 invoice on January 11, 20x2 What amount should Clark report as advertising expense in its income statement for the year...
Most questions answered within 3 hours.
-
10. Two forces act on a 3 kg object, the gravitational force and
a second, constant...
asked 10 minutes ago -
Dividing Partnership Net Loss
Leigh Meadows and Byron Leef formed a partnership in which the
partnership...
asked 7 minutes ago -
Discuss how Entrepreneurial leadership style differs
from traditional leadership?
asked 33 minutes ago -
A futuristic design for a car is to have a large solid
disk-shaped flywheel within the...
asked 31 minutes ago -
Solid NaOH is added to a solution of 0.50 M acetic acid until
the pH of...
asked 34 minutes ago -
Which of the following statements is not a characteristic of the
Internal Revenue Code?
A) The...
asked 42 minutes ago -
Say true or false and explain it.
A heap is represented using an array. The array...
asked 52 minutes ago -
Explain how the DNA replication enzyme complex is organized and
functions, please don't copy paste from...
asked 51 minutes ago -
how
can personality contribute to one scoring high on the need to
evaluate measurement by Jarvis?
asked 52 minutes ago -
A high jumper is attempting to jump over a crossbar that is
placed at a height...
asked 56 minutes ago -
1.
A hemophiliac male mates with a healthy female. what are the
possible genotypes for the...
asked 1 hour ago -
You could argue that even though Rockefeller clearly had
enormous market power (90% of the market)...
asked 1 hour ago