Homework Answers
Ans:
| Smithson Floor Coverings | ||
| Trial Balance | ||
| December 31, 2018 | ||
| Account Title | Debit | Credit |
| Service Revenue | 26,000 | |
| Equipment | 36,000 | |
| Rent Expense | 17,000 | |
| Common Stock | 24,000 | |
| Accounts Payable | 2,200 | |
| Dividends | 16,100 | |
| Salaries Payable | 25,000 | |
| Salaries Expense | 1,600 | |
| Cash | 7,000 | |
| Accounts Receivable | 3,600 | |
| Interest Payable | 6,000 | |
| Utilities Expense | 1,900 | |
| Totals | $ 83,200 | $ 83200 |
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Smithson Floor Coverings reported the following summarized data at December 31, 2018. Accounts appear in no...
Learning S2-8 Preparing a trial balance Smithson Floor Coverings reported the following summarized data at December...
Learning S2-8 Preparing a trial balance Smithson Floor Coverings reported the following summarized data at December 31, 2018. Accounts appear in no particular order, and all have normal balances. Service Revenue Equipment Rent Expense Smithson, Capital Accounts Payable Smithson, Withdrawals $ 26,000 Salaries Payable 36,000 Salaries Expense 17,000 Cash 24,000 Accounts Receivable 2,200 Interest Payable 16,100 Utilities Expense $ 25,000 1,600 7,000 3,600 6,000 1,900 Prepare the trial balance of Smithson Floor Coverings at December 31, 2018.
7. Smithson Floor Coverings reported the following summarized data at December 31, 2018. Accounts appear in...
7. Smithson Floor Coverings reported the following summarized data at December 31, 2018. Accounts appear in no particular order, and all have normal balances. 4(Click the icon to view Smithson Floor Coverings accounts.) Prepare the trial balance of Smithson Floor Coverings at December 31, 2018 Smithson Floor Coverings Trial Balance December 31, 2018 Balance Debit Credit Account Title (2) (10) (11) |(12) Total 4: Data Table Service Revenue $ $ Salaries Payable Salaries Expense 26,000 36,000 17,000 24,000 2,200 Equipment...
Exercise I: Steele Floor Coverings reported the following summarized data at December 31, 2018. Accounts appear...
Exercise I: Steele Floor Coverings reported the following summarized data at December 31, 2018. Accounts appear in no particular order, and all have normal balances. Prepare the trial balance of Steele Floor Coverings at December 31, 2018 $15,000 2,100 18,000 Service Revenue $44,000 Salaries Payable Equipment Rent Expense Steele, Capital Accounts Payable Steele, Withdrawals 12,700 Utilities Expense 38,000 Salaries Expense 8,000 Cash 16,000 Accounts Receivable 4,600 1,400 Interest Payable 8,500 1,500 Exercise II: Capital City Motorcycle's selected accounts as of...
E4-26 (similar to) Boston Veterinary Hospital completed the following worksheet as of December 31, 2018 (Click...
E4-26 (similar to) Boston Veterinary Hospital completed the following worksheet as of December 31, 2018 (Click the icon to view the partial worksheet.) Read the requirements. Requirement 1. Complete the worksheet for Boston Veterinary Hospital. Complete the worksheet by preparing the Income Statement and Balance Sheet columns. Be sure to calculate the total debits and credits in each step. Boston Veterinary Hospital Worksheet December 31, 2018 Income Adjusted Trial Balance Statement Account Names Debit Credit Debit Credit 34,100 10,400 350...
The following information is available for Buckeye Company: January 1, 2018 $25,000 December 31, 2018 $30,000...
The following information is available for Buckeye Company: January 1, 2018 $25,000 December 31, 2018 $30,000 Cash Land 40,000 29,000 42,000 45,000 58,000 7,000 Notes payable Retained earnings 33,000 4,000 8,000 16,000 20,000 11,000 40,000 18,000 Accumulated depreciation Supplies Accounts payable Equipment 10,000 17,000 26,000 Accounts receivable Common stock 40,000 Inventory 42,000 During 2018, Buckeye Company reported sales revenue of $98,000, salaries expense of $22,000, rent expense of $17,000, and cost of goods sold. Buckeye Company paid $9,000 of dividends...
The following information is available for Buckeye Company: January 1, 2018 $25,000 December 31, 2018 ETT...
The following information is available for Buckeye Company: January 1, 2018 $25,000 December 31, 2018 ETT Cash $30,000 42,000 Land 40,000 Notes payable Retained earnings Accumulated depreciation Supplies Accounts payable Equipment 29,000 45,000 33,000 58,000 4,000 7,000 10,000 17,000 8,000 16,000 20,000 11,000 Accounts receivable 26,000 40,000 42,000 Common stock 40,000 Inventory 18,000 During 2018, Buckeye Company reported sales revenue of $98,000, salaries expense of $22,000, rent expense of $17,000, and cost of goods sold. Buckeye Company paid $9,000 of...
The following information is available for Buckeye Company: December 31, 2018 $30,000 42,000 45,000 58,000 January...
The following information is available for Buckeye Company: December 31, 2018 $30,000 42,000 45,000 58,000 January 1, 2018 Cash $25,000 Land 40,000 Notes payable 29,000 Retained earnings 33,000 Accumulated depreciation 4,000 Supplies 8,000 Accounts payable 16,000 Equipment 20,000 Accounts receivable 11,000 Common stock 40,000 Inventory 18,000 7,800 10,000 17,000 26,000 40,000 42,000 During 2018, Buckeye Company reported sales revenue of $98,000, salaries expense of $22,800, rent expense of $17,000, and cost of goods sold. Buckeye Company paid $9,880 of dividends...
Anmum Berhad provided the following financial statement items as at 31 December 2018. (RM) 5,000 3,000...
Anmum Berhad provided the following financial statement items as at 31 December 2018. (RM) 5,000 3,000 23,000 47,000 18,000 50,000 38,000 26,000 90,000 (RM) 24,000 12,000 15,000 20,000 7,500 10,000 30,000 18,500 3,000 Salaries and Wages Payable Salaries and Wages Expense Accumulated Dep. – Off. Equip. Dividends Utilities Expense Interest Expense Accounts Payable Service Revenue Retained Earnings (1 January) Share Capital-Ordinary Depreciation Expense Commission Revenue Note Payable (Long-term) Advertising Expense Interest Payable Cash Accounts Receivable Office Equipment Required: (a) Prepare...
Following are the financial statement data for Jones Temporary Services at December 31, 2018. Prepare Degen’s...
Following are the financial statement data for Jones Temporary Services at December 31, 2018. Prepare Degen’s income statement, statement of owner’s equity and balance sheet. Accounts Payable 10,000 Accounts Receivable 36,000 Cash 65,000 Repairs Expense 1,250 Prepaid Insurance 3,000 Jones, Capital, 1/1/18 53,000 Contributions by Jones 5,000 Rent Expense 24,000 Utilities Expense 1,000 Fees Earned 63,000 Telephone Expense 750
Assume that Navy Harbour Inc. reported the following summarized data at December 31, 2020. Accounts appear...
Assume that Navy Harbour Inc. reported the following summarized data at December 31, 2020. Accounts appear in no particular order; dollar amounts are in millions. (Click the icon to view the data.) Prepare the trial balance of Navy Harbour at December 31, 2020. List the accounts in their proper order. How much was Navy Harbour's net income or net loss? Prepare the trial balance of Navy Harbour Inc. at December 31, 2020. List the accounts in their proper order. (Leave...
Learning S2-8 Preparing a trial balance Smithson Floor Coverings reported the following summarized data at December 31, 2018. Accounts appear in no particular order, and all have normal balances. Service Revenue Equipment Rent Expense Smithson, Capital Accounts Payable Smithson, Withdrawals $ 26,000 Salaries Payable 36,000 Salaries Expense 17,000 Cash 24,000 Accounts Receivable 2,200 Interest Payable 16,100 Utilities Expense $ 25,000 1,600 7,000 3,600 6,000 1,900 Prepare the trial balance of Smithson Floor Coverings at December 31, 2018.
7. Smithson Floor Coverings reported the following summarized data at December 31, 2018. Accounts appear in no particular order, and all have normal balances. 4(Click the icon to view Smithson Floor Coverings accounts.) Prepare the trial balance of Smithson Floor Coverings at December 31, 2018 Smithson Floor Coverings Trial Balance December 31, 2018 Balance Debit Credit Account Title (2) (10) (11) |(12) Total 4: Data Table Service Revenue $ $ Salaries Payable Salaries Expense 26,000 36,000 17,000 24,000 2,200 Equipment...
Exercise I: Steele Floor Coverings reported the following summarized data at December 31, 2018. Accounts appear in no particular order, and all have normal balances. Prepare the trial balance of Steele Floor Coverings at December 31, 2018 $15,000 2,100 18,000 Service Revenue $44,000 Salaries Payable Equipment Rent Expense Steele, Capital Accounts Payable Steele, Withdrawals 12,700 Utilities Expense 38,000 Salaries Expense 8,000 Cash 16,000 Accounts Receivable 4,600 1,400 Interest Payable 8,500 1,500 Exercise II: Capital City Motorcycle's selected accounts as of...
E4-26 (similar to) Boston Veterinary Hospital completed the following worksheet as of December 31, 2018 (Click the icon to view the partial worksheet.) Read the requirements. Requirement 1. Complete the worksheet for Boston Veterinary Hospital. Complete the worksheet by preparing the Income Statement and Balance Sheet columns. Be sure to calculate the total debits and credits in each step. Boston Veterinary Hospital Worksheet December 31, 2018 Income Adjusted Trial Balance Statement Account Names Debit Credit Debit Credit 34,100 10,400 350...
The following information is available for Buckeye Company: January 1, 2018 $25,000 December 31, 2018 $30,000 Cash Land 40,000 29,000 42,000 45,000 58,000 7,000 Notes payable Retained earnings 33,000 4,000 8,000 16,000 20,000 11,000 40,000 18,000 Accumulated depreciation Supplies Accounts payable Equipment 10,000 17,000 26,000 Accounts receivable Common stock 40,000 Inventory 42,000 During 2018, Buckeye Company reported sales revenue of $98,000, salaries expense of $22,000, rent expense of $17,000, and cost of goods sold. Buckeye Company paid $9,000 of dividends...
The following information is available for Buckeye Company: January 1, 2018 $25,000 December 31, 2018 ETT Cash $30,000 42,000 Land 40,000 Notes payable Retained earnings Accumulated depreciation Supplies Accounts payable Equipment 29,000 45,000 33,000 58,000 4,000 7,000 10,000 17,000 8,000 16,000 20,000 11,000 Accounts receivable 26,000 40,000 42,000 Common stock 40,000 Inventory 18,000 During 2018, Buckeye Company reported sales revenue of $98,000, salaries expense of $22,000, rent expense of $17,000, and cost of goods sold. Buckeye Company paid $9,000 of...
The following information is available for Buckeye Company: December 31, 2018 $30,000 42,000 45,000 58,000 January 1, 2018 Cash $25,000 Land 40,000 Notes payable 29,000 Retained earnings 33,000 Accumulated depreciation 4,000 Supplies 8,000 Accounts payable 16,000 Equipment 20,000 Accounts receivable 11,000 Common stock 40,000 Inventory 18,000 7,800 10,000 17,000 26,000 40,000 42,000 During 2018, Buckeye Company reported sales revenue of $98,000, salaries expense of $22,800, rent expense of $17,000, and cost of goods sold. Buckeye Company paid $9,880 of dividends...
Anmum Berhad provided the following financial statement items as at 31 December 2018. (RM) 5,000 3,000 23,000 47,000 18,000 50,000 38,000 26,000 90,000 (RM) 24,000 12,000 15,000 20,000 7,500 10,000 30,000 18,500 3,000 Salaries and Wages Payable Salaries and Wages Expense Accumulated Dep. – Off. Equip. Dividends Utilities Expense Interest Expense Accounts Payable Service Revenue Retained Earnings (1 January) Share Capital-Ordinary Depreciation Expense Commission Revenue Note Payable (Long-term) Advertising Expense Interest Payable Cash Accounts Receivable Office Equipment Required: (a) Prepare...
Assume that Navy Harbour Inc. reported the following summarized data at December 31, 2020. Accounts appear in no particular order; dollar amounts are in millions. (Click the icon to view the data.) Prepare the trial balance of Navy Harbour at December 31, 2020. List the accounts in their proper order. How much was Navy Harbour's net income or net loss? Prepare the trial balance of Navy Harbour Inc. at December 31, 2020. List the accounts in their proper order. (Leave...
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