Homework Answers
In the above given options Notes Receivable is an Asset. Because Future inflow of resources into the organisation will takes place at this only.
The other options namely common stock and retained earnings forms in part of Equity and Notes payable represents Liabilities which is ought to be paid.
Therefore the answer is '' Notes Receivable "
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Which of the following is an asset? Multiple Choice O Common stock Retained Earnings Notes Receivable...
Credit Gain on Sale of an Asset Common Stock Retained Earnings Credit Credit Land Debit Notes...
Credit Gain on Sale of an Asset Common Stock Retained Earnings Credit Credit Land Debit Notes Payable Credit Fees Earned Credit Equipment Debit Sales Credit Accounts Receivable Debit Auto Expense Debit Rent Expense Debit Supplies Debit Cash Debit Accounts Payable Credit Service Revenue Credit Accumulated Depreciation-Equipment Credit Cash Dividends Debit Type here to search Paid in Capital in Excess of Par Credit Bonds Payable Credit Credit Unearned Revenue Salary Expense Debit Identify which financial statement each one of these accounts...
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...
15 Which of the following is considered an asset? A] Sales B] Accounts Receivable C Common...
15 Which of the following is considered an asset? A] Sales B] Accounts Receivable C Common Stock DI Accounts Payable [6 The first financial statement that is prepared is the: [A] Statement of Cash Flows. B Statement of Retained Earnings [C] Balance Sheet. D] Income Statement. 17] A type of asset in which a customer owes the company money would be a: [A] receivable. [B] payable. [C] sale. D] dividend 81 A T-account has a $698 credit balance. This account...
Which of the following accounts is increased with a credit? Multiple Choice O Accounts receivable Prepaid...
Which of the following accounts is increased with a credit? Multiple Choice O Accounts receivable Prepaid rent 0 Common stock O Dividends
Which of the following best describes the relationship between revenue and retained earnings? Multiple Choice A....
Which of the following best describes the relationship between revenue and retained earnings? Multiple Choice A. Revenue represents a cash receipt; retained earnings is an element of stockholders' equity. B. Retained earnings is equal to assets minus expenses. C. Revenue represents the price of goods sold or services rendered; retained earnings represents cash available for paying dividends. D. Revenue increases net income, which in turn increases retained earnings. Which of the following is not a right of stockholders? Multiple Choice...
supplies: $1,700 operating expenses: $9,200 Accounts payable: $10,000 Accounts Receivable: $3,000 Common Stock:$9,000 Retained Earnings (begining):...
supplies: $1,700 operating expenses: $9,200 Accounts payable: $10,000 Accounts Receivable: $3,000 Common Stock:$9,000 Retained Earnings (begining): $5,700 Service Revenue: $19,000 Cash: $14,000 Dividends: $6,500 Notes Payable: $2,000 Equipment: $11,300 Calculate the following: Net Income/(Net Loss), Ending retained Earnings, and total assets?
A debit would make which of the following accounts increase? Common Stock Inventory Notes Payable Retained...
A debit would make which of the following accounts increase? Common Stock Inventory Notes Payable Retained Earnings Consider the following journal entry: Software 18,000 Cash 7,200 Note Payable 10,800 Which of the following explanations best describes this journal entry? A) The company buys $18,000 of software, pays cash of $7,200, and signs a note for $10,800. B) The company receives $7,200 in cash and $10,800 in notes payable in exchange for selling $18,000 of software. C) The company...
Accounts payable $ 4,500 Accounts receivable 9.350 Cash 23,490 Common stock 90,000 Equipment 49,500 Inventory 31,...
Accounts payable $ 4,500 Accounts receivable 9.350 Cash 23,490 Common stock 90,000 Equipment 49,500 Inventory 31, 200 Notes payable, due June, 2021 2500 Retained earnings, Jun 30, 2018 14,090 Wages payable 2.450 What is the amount of current assets on the classified balance sheet? Multiple Choice $64,040. o $13,540. o $82170. c S32,840
Cash Accounts receivable (net) Inventory Accounts payable Notes payable Common stock, $100 par Retained earnings December...
Cash Accounts receivable (net) Inventory Accounts payable Notes payable Common stock, $100 par Retained earnings December 31, 2017 $ 34,000 77,000 210,000 54,000 29,000 417,000 106,000 December 31, 2016 $ 16,500 122,500 183,000 92,500 65,000 417,000 102,500 Additional information: 1. The inventory turnover is 2.2 times. 2. The return on common stockholders' equity is 25%. The company had no additional paid-in capital. 3. The accounts receivable turnover is 8.1 times. 4. The return on assets is 12.5%. 5. Total assets...
Help Sa Homework Required information 6,176 Notes Payable (short-term) Notes Payable (long-term) Common Stock Retained Earnings...
Help Sa Homework Required information 6,176 Notes Payable (short-term) Notes Payable (long-term) Common Stock Retained Earnings Service Revenue Interest Revenue Travel Expense Salaries and Wages Exponse Rent Expense Depreciation Expense Supplies Expense Income Tax Expense 2,5927 2,192 392 292 192 292 10,312 Totals $ $ 10,312 1-b. Is the Retained Earnings balance of $1,492 the amount that would be reported on the balance sheet as of September 30, 2018? Yes No < Prey 8 9 10 of 10 ! Next...
Credit Gain on Sale of an Asset Common Stock Retained Earnings Credit Credit Land Debit Notes Payable Credit Fees Earned Credit Equipment Debit Sales Credit Accounts Receivable Debit Auto Expense Debit Rent Expense Debit Supplies Debit Cash Debit Accounts Payable Credit Service Revenue Credit Accumulated Depreciation-Equipment Credit Cash Dividends Debit Type here to search Paid in Capital in Excess of Par Credit Bonds Payable Credit Credit Unearned Revenue Salary Expense Debit Identify which financial statement each one of these accounts...
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...
15 Which of the following is considered an asset? A] Sales B] Accounts Receivable C Common Stock DI Accounts Payable [6 The first financial statement that is prepared is the: [A] Statement of Cash Flows. B Statement of Retained Earnings [C] Balance Sheet. D] Income Statement. 17] A type of asset in which a customer owes the company money would be a: [A] receivable. [B] payable. [C] sale. D] dividend 81 A T-account has a $698 credit balance. This account...
Which of the following accounts is increased with a credit? Multiple Choice O Accounts receivable Prepaid rent 0 Common stock O Dividends
Accounts payable $ 4,500 Accounts receivable 9.350 Cash 23,490 Common stock 90,000 Equipment 49,500 Inventory 31, 200 Notes payable, due June, 2021 2500 Retained earnings, Jun 30, 2018 14,090 Wages payable 2.450 What is the amount of current assets on the classified balance sheet? Multiple Choice $64,040. o $13,540. o $82170. c S32,840
Cash Accounts receivable (net) Inventory Accounts payable Notes payable Common stock, $100 par Retained earnings December 31, 2017 $ 34,000 77,000 210,000 54,000 29,000 417,000 106,000 December 31, 2016 $ 16,500 122,500 183,000 92,500 65,000 417,000 102,500 Additional information: 1. The inventory turnover is 2.2 times. 2. The return on common stockholders' equity is 25%. The company had no additional paid-in capital. 3. The accounts receivable turnover is 8.1 times. 4. The return on assets is 12.5%. 5. Total assets...
Help Sa Homework Required information 6,176 Notes Payable (short-term) Notes Payable (long-term) Common Stock Retained Earnings Service Revenue Interest Revenue Travel Expense Salaries and Wages Exponse Rent Expense Depreciation Expense Supplies Expense Income Tax Expense 2,5927 2,192 392 292 192 292 10,312 Totals $ $ 10,312 1-b. Is the Retained Earnings balance of $1,492 the amount that would be reported on the balance sheet as of September 30, 2018? Yes No < Prey 8 9 10 of 10 ! Next...
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