Homework Answers
| A27) | Amount of current liabilities | |||||
| Deferred revenue | 7,000 | |||||
| accounts payable | 15,000 | |||||
| interest payable | 7,000 | |||||
| Amount of current liabilities | 29,000 | answer | ||||
| option a | ||||||
| Answer28) | stockholders equity | |||||
| common stock | 64,000 | |||||
| Retained earnings | 14,500 | |||||
| Total stockholders equity | 78,500 | answer | ||||
| option d | ||||||
| Retained earnings | ||||||
| opening | 13,000 | |||||
| Add : net income | (30000-20000-4500) | 5500 | ||||
| less : dividends | -4000 | |||||
| Closing retained earnings | 14,500 | |||||
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The following financial information is from a company. All debt is due within one year unless...
The following financial information is from Bronco Company. All debt is due within one year unless...
The following financial information is from Bronco Company. All debt is due within one year unless stated otherwise Retained Earnings Supplies Equipment Accounts Receivable Deferred Revenue Accounts Payable Common Stock Notes Payable (due in 18 months) Interest Payable Cash $52,000 37,000 72,000 8,600 6,000 15,000 25,000 35,000 7,000 22,400 What is the amount of current liabilities? $63,000 $28,000. $45,600 $22,000 MacBook Air
6. The following financial information is from Camaro Company. All debt is due within one year...
6. The following financial information is from Camaro Company. All debt is due within one year unless stated otherwise. I Retained Earnings Supplies Equipment Accounts Receivable Uneamed Revenue Accounts Payable Common Stock Notes Payable (due in 18 months) Interest Payable Cash $52,000 37,000 72.000 8,600 6,000 15,000 25 000 35.000 7,000 22.400 What is the amount of current liabilities? a. $63,000 b. $28,000. c. $45,600 d. $22,000
Can you answer that for me and explain why? The following financial information is from a...
Can you answer that for me and explain why?
The following financial information is from a company. All debt is due within one year unless stated otherwise Retained Earnings $52,000 37,000 Supplies Equipment 72,000 Accounts Receivable 8,600 5,000 15,000 Deferred Revenue Accounts Payable Common Stock Notes Payable (due in 6 months) 25,000 Interest Payable 35,000 9,000 22,400 Cash A. | B. What is the amount of current liabilities? $29,000. $22,000. $64,000. $37,600. None of the choices are correct. C. D.
D Question 49 4 pts The following financial information is from Bronco Company. All debt is...
D Question 49 4 pts The following financial information is from Bronco Company. All debt is due within one year unless stated otherwise. Common Stock $100,000 Interest Payable $5,000 Supplies $2,000 Cash $25,000 Notes Payable (due in 18 months) $75,000 Accounts Payable $15,000 Accounts Receivable $22,000 Deferred Revenue $9,000 Retained Earnings $50,000 Equipment $110,000 What is the amount of current liabilities? Question 51 20 pts Use the following to answer the questions Net Sales $900,000 Gross profit $405,000 Beginning inventory...
GobiCorp has the following adjusted trial balance on December 31 of the current year. Debit Credit...
GobiCorp has the following adjusted trial balance on December 31 of the current year. Debit Credit Cash 180.000 Accounts Receivable 39,000 Supplies 47,000 Equipment 143,000 Accounts Payable 20,000 Notes Payable 60,000 Common Stock 200,000 Retained Earnings 100,000 Dividends 25.000 Internet Service Revenue 65,000 Printing Service Revenue 24,000 Salary Expense 20.000 Rent Expense 5,000 Supplies Expense 3,000 Tax Expense 7.000 Prepare the necessary closing entries for GobiCorp on December 31.
the following items were taken from the financial statements of the Pronghorn company the year ending...
the following items were taken from the financial statements of the Pronghorn company the year ending in December 31,2022 Accounts Payable:$18,000 Accounts receivable 7,000 Accumulated depreciation- equipment: 5,200 bonds payable:17,000 cash:24,000 common stock 26,900 cost of goods sold: 28,500 depreciation expense: 5,700 Dividends:5,000 Equipment: 40,000 Interest Expense:2,500 patents: 10,565 retained earnings january 1,2022 salaries and wages expense: 6,100 sales revenue: 53,100 supplies: 1,760 Create a Balance sheet. retained earnings, january 1,2022: 10,925
the following items were taken from the financial statements of Pronghorn Company for the year ending...
the following items were taken from the financial statements of Pronghorn Company for the year ending December 31,2022 Accounts Payable:$18,000 Accounts Recievable:$7,000 Accumulated depreciation- Equipment:$5,200 Bonds Payable:$17,000 Cash: 24,000 Common Stock: $26,900 Cost of Goods sold:$28,500 Depreciation Expense:$5,700 Dividends:$5,000 Equipment:$ 40,000 Interest Expense:$2,500 Patents:$10,565 Retained Earnings January 1,2022: $10,925 Salaries and wages expense: 6,100 Sales Revenue$53,100 Supplies:$1,760 prepare and income statement.. part 1. this question is in 3 parts.
The following items are taken from the financial statements of Grove Company for 2017: Accounts...
The following items are taken from the financial statements of Grove Company for 2017: Accounts payable $18,500 Accounts receivable 8,000 Accumulated depreciation-equipment 4,800 Bonds payable 18,000 Cash 24,000 Common stock 25,000 Cost of goods sold 27,000 Depreciation expense 4,800 Dividends 5,300 Equipment 44,000 Interest expense 2,500 Patents 7,500 Retained earnings, January 1 16,000 Salaries and wages expense 5,200 Sales revenue 50,500 Supplies 4,500 Instructions...
Required information As of December 31, 2019, Armani Company's financial records show the following items and...
Required information As of December 31, 2019, Armani Company's financial records show the following items and amounts. $11,500 10,500 7,500 Cash Accounts receivable Supplies Equipment Accounts payable Common stock 6,500 14,000 15,500 Retained earnings, Dec. 31, 2018 Retained earnings, Dec. 31, 2019 Dividends 4,500 6,500 14,500 36,000 25,000 Consulting revenue Rental revenue Salaries expense Rent expense Selling and administrative expenses 21,500 13,500 9,500 Required: Prepare a year-end statement of retained earnings for Armani Company. ARMANI COMPANY Statement of Retained Earnings...
CULLUMBER COMPANY Income Statement $ $ $ These items are taken from the financial statements of...
CULLUMBER COMPANY Income Statement $ $ $ These items are taken from the financial statements of Cullumber Company for 2022. Retained earnings (beginning of year) Utilities expense Equipment Accounts payable Cash Salaries and wages payable Common stock Dividends Supplies Debt investment (long-term) Trademarks Service revenue Prepaid insurance Maintenance and repairs expense Depreciation expense Accounts receivable Insurance expense Salaries and wages expense Accumulated depreciation equipment $32,850 2,180 65,300 17,650 14,980 5,600 22,400 12,000 3,400 5,200 1,800 72,680 6,130 1,600 3,200 13,600...
The following financial information is from Bronco Company. All debt is due within one year unless stated otherwise Retained Earnings Supplies Equipment Accounts Receivable Deferred Revenue Accounts Payable Common Stock Notes Payable (due in 18 months) Interest Payable Cash $52,000 37,000 72,000 8,600 6,000 15,000 25,000 35,000 7,000 22,400 What is the amount of current liabilities? $63,000 $28,000. $45,600 $22,000 MacBook Air
6. The following financial information is from Camaro Company. All debt is due within one year unless stated otherwise. I Retained Earnings Supplies Equipment Accounts Receivable Uneamed Revenue Accounts Payable Common Stock Notes Payable (due in 18 months) Interest Payable Cash $52,000 37,000 72.000 8,600 6,000 15,000 25 000 35.000 7,000 22.400 What is the amount of current liabilities? a. $63,000 b. $28,000. c. $45,600 d. $22,000
Can you answer that for me and explain why?
The following financial information is from a company. All debt is due within one year unless stated otherwise Retained Earnings $52,000 37,000 Supplies Equipment 72,000 Accounts Receivable 8,600 5,000 15,000 Deferred Revenue Accounts Payable Common Stock Notes Payable (due in 6 months) 25,000 Interest Payable 35,000 9,000 22,400 Cash A. | B. What is the amount of current liabilities? $29,000. $22,000. $64,000. $37,600. None of the choices are correct. C. D.
D Question 49 4 pts The following financial information is from Bronco Company. All debt is due within one year unless stated otherwise. Common Stock $100,000 Interest Payable $5,000 Supplies $2,000 Cash $25,000 Notes Payable (due in 18 months) $75,000 Accounts Payable $15,000 Accounts Receivable $22,000 Deferred Revenue $9,000 Retained Earnings $50,000 Equipment $110,000 What is the amount of current liabilities? Question 51 20 pts Use the following to answer the questions Net Sales $900,000 Gross profit $405,000 Beginning inventory...
GobiCorp has the following adjusted trial balance on December 31 of the current year. Debit Credit Cash 180.000 Accounts Receivable 39,000 Supplies 47,000 Equipment 143,000 Accounts Payable 20,000 Notes Payable 60,000 Common Stock 200,000 Retained Earnings 100,000 Dividends 25.000 Internet Service Revenue 65,000 Printing Service Revenue 24,000 Salary Expense 20.000 Rent Expense 5,000 Supplies Expense 3,000 Tax Expense 7.000 Prepare the necessary closing entries for GobiCorp on December 31.
Required information As of December 31, 2019, Armani Company's financial records show the following items and amounts. $11,500 10,500 7,500 Cash Accounts receivable Supplies Equipment Accounts payable Common stock 6,500 14,000 15,500 Retained earnings, Dec. 31, 2018 Retained earnings, Dec. 31, 2019 Dividends 4,500 6,500 14,500 36,000 25,000 Consulting revenue Rental revenue Salaries expense Rent expense Selling and administrative expenses 21,500 13,500 9,500 Required: Prepare a year-end statement of retained earnings for Armani Company. ARMANI COMPANY Statement of Retained Earnings...
CULLUMBER COMPANY Income Statement $ $ $ These items are taken from the financial statements of Cullumber Company for 2022. Retained earnings (beginning of year) Utilities expense Equipment Accounts payable Cash Salaries and wages payable Common stock Dividends Supplies Debt investment (long-term) Trademarks Service revenue Prepaid insurance Maintenance and repairs expense Depreciation expense Accounts receivable Insurance expense Salaries and wages expense Accumulated depreciation equipment $32,850 2,180 65,300 17,650 14,980 5,600 22,400 12,000 3,400 5,200 1,800 72,680 6,130 1,600 3,200 13,600...
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