Students should create an income statement from the trial balance provided:
Homework Answers
| Income Statement | ||
| Revenue | 10,230 | |
| Expenses: | ||
| Painting supplies expense | 380 | |
| Auto expense | 80 | |
| Depreciation expense | 233 | |
| Interest expense | 33 | |
| Insurance expense | 33 | |
| Total expenses | -759 | |
| Net Income | $9,471 | |
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Students should create an income statement from the trial
balance provided:
Ken & Bill Partnership Credits...
Students should create an income statement from the trial balance provided: Ken & Bill Partnership Credits...
Students should create an income statement from the trial
balance provided:
Ken & Bill Partnership Credits Cash Debits 9,920 850 1,167 1,800 10,000 25 208 8,000 33 Accounts Receivable Prepaid Insurance Equipment Vehicles Accumulated Depreciation Equipment Accumulated Depreciation-Vehicle Notes Payable Accrued Interest Payable Ken, Capital Bill, Capital Revenues Painting Supplies Expense Auto Expense Depreciation Expese Interest Expense Insurance Expense 3,000 3,000 10,230 380 *** 233 33 33 24,496 24,496
Create a Statement of Cash Flow from the following Trial Balance. Adjusted Trial Balance December 31,...
Create a Statement of Cash Flow from the following Trial Balance.
Adjusted Trial Balance December 31, 2019 PR Debit 107 110 5 05.00 $11.750.00 140 $ 1.000.00 230 S 1.000.00 $224.00 $2.025.00 $10.098.00 $42.465.00 410 S8632.00 $ 1.200.00 $10,800.00 550 S60 $ 1.200.00 $14,167.00 $1,100.00 Petty Cash Accounts Receivable Supplies on Hand Lerpaid Insurance Computer Equipment Accumulated Depreciation - Computer Equipment Cell Phone Accumulated Depreciation - Cell Phone Vehicles Accumulated Depreciation - Vehicles Accounts Payable Customer Deposits Uneare Revenue SUTA...
Frank's Trucking Co. Adjusted Trial Balance October 31, 2021 Dobit Credit $ 35,420 Cash. Supplies ($6,000...
Frank's Trucking Co. Adjusted Trial Balance October 31, 2021 Dobit Credit $ 35,420 Cash. Supplies ($6,000 - $4,000).... 2,000 Equipment...... 140,000 $ 56,000 Accumulated depreciation equipment... Vehicles.. 110,000 61,875 Accumulated depreciation-vehicles................ Accounts payable.. 7,950 Salaries payable 2,550 60,000 275 75,750 36,000 200,525 Notes payable... Interest payable. H. Burke, capital ......... H. Burke, drawings ....- Service revenue Depreciation expense.... Repairs expense.... Insurance expense ........ Interest expense ($3,392 + $275).......... Rent expense..... Salaries expense ($45,000 + $2,550)...... Supplies expense ... 27,750 28,038...
Create a Post-Closing Trial Balance. Adjusted Trial Balance December 31, 2019 PR Debit 107 110 5...
Create a Post-Closing Trial Balance.
Adjusted Trial Balance December 31, 2019 PR Debit 107 110 5 05.00 $11.750.00 140 $ 1.000.00 230 S 1.000.00 $224.00 $2.025.00 $10.098.00 $42.465.00 410 S8632.00 $ 1.200.00 $10,800.00 550 S60 $ 1.200.00 $14,167.00 $1,100.00 Petty Cash Accounts Receivable Supplies on Hand Lerpaid Insurance Computer Equipment Accumulated Depreciation - Computer Equipment Cell Phone Accumulated Depreciation - Cell Phone Vehicles Accumulated Depreciation - Vehicles Accounts Payable Customer Deposits Uneare Revenue SUTA Payable FICA Payable FUTA Payable Federal...
Credit $ 30,000 51,000 TYBALT CONSTRUCTION Adjusted Trial Balance December 31, 2019 No. Account Title Debit...
Credit $ 30,000 51,000 TYBALT CONSTRUCTION Adjusted Trial Balance December 31, 2019 No. Account Title Debit 101 Cash $ 6,000 184 Short-term investments 23,000 126 Supplies 9,280 128 Prepaid insurance 8,300 167 Equipment 60,000 168 Accumulated depreciation-Equipment 173 Building 153,000 174 Accumulated depreciation-Building 183 Land 73,980 201 Accounts payable 203 Interest payable 208 Rent payable 210 Wages payable 213 Property taxes payable 233 Unearned professional fees 2. Current portion of long term note payable 251 Long-term notes payable 301 O....
Prepare an Income Statement, Statement of Retained Earnings, and Balance Sheet using the following information. Credit...
Prepare an Income Statement, Statement of Retained Earnings, and
Balance Sheet using the following information.
Credit (CR) Debit (DR) 11,000 Cash 5,000 23,500 4,000 12,000 4,000 2,500 3,800 60,000 32,000 29,500 21,000 Accounts Payable Accounts Receviable Rent Expense Unearned Revenue Depreciation Expense Prepaid Insurance Supplies Expense Equipment Accumulated Depreciation - Equipment Cost of Goods Sold Merchandise Inventory Notes Payable Salary Payable Buildings Interest Payable Sales Revenue Interest Expense Supplies Accumulated Depreciation - Buildings Prepaid Insurance Common Stock Retained Earnings Dividends...
Adjusted Trial Balance December 31, 2017 Debit Credit 100,000.00 54,000.00 125,000.00 23,000.00 6,300.00 1,200,000.00 150.00 10,000.00...
Adjusted Trial Balance December 31, 2017 Debit Credit 100,000.00 54,000.00 125,000.00 23,000.00 6,300.00 1,200,000.00 150.00 10,000.00 855,000.00 8,333.00 5,750.00 128,000.00 Accounts Receivable Accounts Payable Accumulated Depreciation-Building Accumulated Depreciation-Vehicles Advertising Expense Buildings Cash--Checking Cash-Savings Delivery Fees Earned Depreciation Expense-Building Depreciation Expense-Vehicles H. Jackson, Capital H. Jackson, Withdrawals Insurance Expense Insurance Payable Intangible Assets Interest Expense Land Loan Payable Note Payable Prepaid Insurance Prepaid Mortgage Rental Vehicle Expense Short-term Investments Supplies Expense Supplies Inventory Utilities Expense 15,000.00 22,000.00 11,400.00 175,000.00 25,000.00 125,000.00...
Winners Adjusted Trial Balance December 31, 2017 Debit Credit 100,000.00 54,000.00 125,000.00 23,000.00 6,300.00 1,200,000.00 150.00...
Winners Adjusted Trial Balance December 31, 2017 Debit Credit 100,000.00 54,000.00 125,000.00 23,000.00 6,300.00 1,200,000.00 150.00 10,000.00 855,000.00 8,333.00 5,750.00 128,000.00 Accounts Receivable Accounts Payable Accumulated Depreciation-Building Accumulated Depreciation Vehicles Advertising Expense Buildings Cash--Checking Cash-Savings Delivery Fees Earned Depreciation Expense-Building Depreciation Expense-Vehicles H. Jackson, Capital H. Jackson, Withdrawals Insurance Expense Insurance Payable Intangible Assets Interest Expense Land Loan Payable Note Payable Prepaid Insurance Prepaid Mortgage Rental Vehicle Expense Short-term Investments Supplies Expense Supplies Inventory Utilities Expense 15,000.00 22,000.00 11,400.00 175,000.00...
The adjusted trial balance for Tybalt Construction as of December 31, 2017, follows. TYBALT CONSTRUCTION Adjusted...
The adjusted trial balance for Tybalt Construction as of December 31, 2017, follows. TYBALT CONSTRUCTION Adjusted Trial Balance December 31, 2017 No. Account Title Debit Credit 101 Cash $ 5,500 104 Short-term investments 24,000 126 Supplies 9,200 128 Prepaid insurance 8,400 167 Equipment 45,000 168 Accumulated depreciation—Equipment $ 22,500 173 Building 171,000 174 Accumulated depreciation—Building 57,000 183 Land 57,910 201 Accounts payable 17,500 203 Interest payable 2,300 208 Rent payable 3,500 210 Wages payable 3,000 213 Property taxes payable 1,100...
Prepare the income statement for the calendar year 2017 The adjusted trial balance for Tybalt Construction...
Prepare the income statement for the calendar year 2017 The adjusted trial balance for Tybalt Construction as of December 31, 2017, follows. CONSTRUC TYBALT CONSTRUCTION Adjusted Trial Balance December 31, 2017 Income Statement For Year Ended December 31, 2017 Account Title Revenues No 101 Cash 104 Short-term investments 126 Supplies 128 Prepaid insurance 167 Equipment 168 Accumulated depreciation-Equipment 173 Building 174 Accumulated depreciation-Building 183 Land 201 Accounts payable 203 Interest payable 288 Rent payable 210 Wages payable 213 Property taxes...
Students should create an income statement from the trial
balance provided:
Ken & Bill Partnership Credits Cash Debits 9,920 850 1,167 1,800 10,000 25 208 8,000 33 Accounts Receivable Prepaid Insurance Equipment Vehicles Accumulated Depreciation Equipment Accumulated Depreciation-Vehicle Notes Payable Accrued Interest Payable Ken, Capital Bill, Capital Revenues Painting Supplies Expense Auto Expense Depreciation Expese Interest Expense Insurance Expense 3,000 3,000 10,230 380 *** 233 33 33 24,496 24,496
Create a Statement of Cash Flow from the following Trial Balance.
Adjusted Trial Balance December 31, 2019 PR Debit 107 110 5 05.00 $11.750.00 140 $ 1.000.00 230 S 1.000.00 $224.00 $2.025.00 $10.098.00 $42.465.00 410 S8632.00 $ 1.200.00 $10,800.00 550 S60 $ 1.200.00 $14,167.00 $1,100.00 Petty Cash Accounts Receivable Supplies on Hand Lerpaid Insurance Computer Equipment Accumulated Depreciation - Computer Equipment Cell Phone Accumulated Depreciation - Cell Phone Vehicles Accumulated Depreciation - Vehicles Accounts Payable Customer Deposits Uneare Revenue SUTA...
Frank's Trucking Co. Adjusted Trial Balance October 31, 2021 Dobit Credit $ 35,420 Cash. Supplies ($6,000 - $4,000).... 2,000 Equipment...... 140,000 $ 56,000 Accumulated depreciation equipment... Vehicles.. 110,000 61,875 Accumulated depreciation-vehicles................ Accounts payable.. 7,950 Salaries payable 2,550 60,000 275 75,750 36,000 200,525 Notes payable... Interest payable. H. Burke, capital ......... H. Burke, drawings ....- Service revenue Depreciation expense.... Repairs expense.... Insurance expense ........ Interest expense ($3,392 + $275).......... Rent expense..... Salaries expense ($45,000 + $2,550)...... Supplies expense ... 27,750 28,038...
Create a Post-Closing Trial Balance.
Adjusted Trial Balance December 31, 2019 PR Debit 107 110 5 05.00 $11.750.00 140 $ 1.000.00 230 S 1.000.00 $224.00 $2.025.00 $10.098.00 $42.465.00 410 S8632.00 $ 1.200.00 $10,800.00 550 S60 $ 1.200.00 $14,167.00 $1,100.00 Petty Cash Accounts Receivable Supplies on Hand Lerpaid Insurance Computer Equipment Accumulated Depreciation - Computer Equipment Cell Phone Accumulated Depreciation - Cell Phone Vehicles Accumulated Depreciation - Vehicles Accounts Payable Customer Deposits Uneare Revenue SUTA Payable FICA Payable FUTA Payable Federal...
Credit $ 30,000 51,000 TYBALT CONSTRUCTION Adjusted Trial Balance December 31, 2019 No. Account Title Debit 101 Cash $ 6,000 184 Short-term investments 23,000 126 Supplies 9,280 128 Prepaid insurance 8,300 167 Equipment 60,000 168 Accumulated depreciation-Equipment 173 Building 153,000 174 Accumulated depreciation-Building 183 Land 73,980 201 Accounts payable 203 Interest payable 208 Rent payable 210 Wages payable 213 Property taxes payable 233 Unearned professional fees 2. Current portion of long term note payable 251 Long-term notes payable 301 O....
Prepare an Income Statement, Statement of Retained Earnings, and
Balance Sheet using the following information.
Credit (CR) Debit (DR) 11,000 Cash 5,000 23,500 4,000 12,000 4,000 2,500 3,800 60,000 32,000 29,500 21,000 Accounts Payable Accounts Receviable Rent Expense Unearned Revenue Depreciation Expense Prepaid Insurance Supplies Expense Equipment Accumulated Depreciation - Equipment Cost of Goods Sold Merchandise Inventory Notes Payable Salary Payable Buildings Interest Payable Sales Revenue Interest Expense Supplies Accumulated Depreciation - Buildings Prepaid Insurance Common Stock Retained Earnings Dividends...
Adjusted Trial Balance December 31, 2017 Debit Credit 100,000.00 54,000.00 125,000.00 23,000.00 6,300.00 1,200,000.00 150.00 10,000.00 855,000.00 8,333.00 5,750.00 128,000.00 Accounts Receivable Accounts Payable Accumulated Depreciation-Building Accumulated Depreciation-Vehicles Advertising Expense Buildings Cash--Checking Cash-Savings Delivery Fees Earned Depreciation Expense-Building Depreciation Expense-Vehicles H. Jackson, Capital H. Jackson, Withdrawals Insurance Expense Insurance Payable Intangible Assets Interest Expense Land Loan Payable Note Payable Prepaid Insurance Prepaid Mortgage Rental Vehicle Expense Short-term Investments Supplies Expense Supplies Inventory Utilities Expense 15,000.00 22,000.00 11,400.00 175,000.00 25,000.00 125,000.00...
Winners Adjusted Trial Balance December 31, 2017 Debit Credit 100,000.00 54,000.00 125,000.00 23,000.00 6,300.00 1,200,000.00 150.00 10,000.00 855,000.00 8,333.00 5,750.00 128,000.00 Accounts Receivable Accounts Payable Accumulated Depreciation-Building Accumulated Depreciation Vehicles Advertising Expense Buildings Cash--Checking Cash-Savings Delivery Fees Earned Depreciation Expense-Building Depreciation Expense-Vehicles H. Jackson, Capital H. Jackson, Withdrawals Insurance Expense Insurance Payable Intangible Assets Interest Expense Land Loan Payable Note Payable Prepaid Insurance Prepaid Mortgage Rental Vehicle Expense Short-term Investments Supplies Expense Supplies Inventory Utilities Expense 15,000.00 22,000.00 11,400.00 175,000.00...
Prepare the income statement for the calendar year 2017 The adjusted trial balance for Tybalt Construction as of December 31, 2017, follows. CONSTRUC TYBALT CONSTRUCTION Adjusted Trial Balance December 31, 2017 Income Statement For Year Ended December 31, 2017 Account Title Revenues No 101 Cash 104 Short-term investments 126 Supplies 128 Prepaid insurance 167 Equipment 168 Accumulated depreciation-Equipment 173 Building 174 Accumulated depreciation-Building 183 Land 201 Accounts payable 203 Interest payable 288 Rent payable 210 Wages payable 213 Property taxes...
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