Homework Answers
Answer 37.
Total current assets = Cash + Accounts receivable +
Supplies
Total current assets = $18,000 + $15,000 + $200
Total current assets = $33,200
Answer 38.
Book value of equipment = Equipment - Accumulated
depreciation
Book value of equipment = $800,000 - $80,000
Book value of equipment = $720,000
Answer 39.
Net income = Service revenue - Depreciation expense - Rent
expense - Salaries expense - Supplies expense
Net income = $458,000 - $40,000 - $6,000 - $256,000 - $1,800
Net income = $154,200
Add Answer to:
900.000-80,000 Use the following for questions 37-39 T Corp has provided their accounts in alphabetical order....
please show work Use the following to answer questions 34 - 36 The year-end adjusted trial...
please show work
Use the following to answer questions 34 - 36 The year-end adjusted trial balance of the Corporation included the following account balances Retained earnings $300.000 Service revenue Salvies expense 650,000 325,000 25.000 Rent expense Interest expense 10.000 Dividends 150,000 Prepare the closing entries. In preparing the closing entries for the temporary accounts, how much should Retained earnings be credited? In preparing the closing entries for the temporary accounts, how much should Retained earnings be debited? After closing...
Use the following to answer questions 34 - 36 The year-end adjusted trial balance of the...
Use the following to answer questions 34 - 36 The year-end adjusted trial balance of the Corporation included the following account balances: Retained earnings Service revenue Salaries expense $300,000 650,000 325,000 25,000 10,000 150,000 Rent expense Interest expense Dividends Prepare the closing entries. 34. $___ In preparing the closing entries for the temporary accounts, how much should Retained earnings be credited? 35. S_ In preparing the closing entries for the temporary accounts, how much should Retained earnings be debited? 36....
I need help with 34-39 Use the following to answer questions 34 - 36 The year-end...
I need help with 34-39
Use the following to answer questions 34 - 36 The year-end adjusted trial balance of the Corporation included the following account balances: Retained earnings Service revenue Salaries expense Rent expense Interest expense Dividends $300,000 450,000 250,000 20,000 5,000 75,000 Prepare the closing entries. 34. $_ In preparing the closing entries for the temporary accounts, how much should Retained earnings be credited? 35. $ In preparing the closing entries for the temporary accounts, how much should...
The following is a list of accounts, in alphabetical order, for Sheridan, Inc. at July 31,...
The following is a list of accounts, in alphabetical order, for Sheridan, Inc. at July 31, 2018: Accounts payable Accounts receivable Accumulated depreciation-equipment Bank loan payable, due 2020 Cash Common shares Depreciation expense Dividends declared Equipment Held for trading investments $9,800 14,300 21,300 38,300 Prepaid insurancee 13,500 Rent expense 38,000 $3,000 1,800 3,700 100 8,700 10,200 20,300 24,700 800 77,900 Income tax expense Insurance expense Interest expense Repairs and maintenance expense 9,500 Retained earnings 800 Salaries expense 98,100 Salaries payable...
A list of accounts, in alphabetical order, and their balances at October 31, 2022 is presented...
A list of accounts, in alphabetical order, and their balances at October 31, 2022 is presented below for Blossom Corporation: Accounts payable Accounts receivable Bank loan payable Cash Common shares Deferred revenue Equipment Income tax expense $3,510 6,790 8,670 13,144 20.240 3,220 16,480 1,406 Rent expense Salaries expense Service revenue Supplies Supplies expense Utilities $1,530 7,080 14,900 2,390 900 820 Prepare a trial balance at October 31, 2022 BLOSSOM CORP. Trial Balance Credit Debit Debit Credit Totals
Question 9 The following is a list of accounts, in alphabetical order, for Sheridan, Inc. at...
Question 9 The following is a list of accounts, in alphabetical order, for Sheridan, Inc. at July 31, 2018: Accounts payable Accounts receivable Accumulated depreciation-equipment Bank loan payable, due 2020 Cash Common shares Depreciation expense Dividends declared Equipment Held for trading investments $9,800 14,300 21,300 38,300 Prepaid insurancee 13,500 Rent expense 38,000 $3,000 1,800 3,700 100 8,700 10,200 20,300 24,700 800 77,900 Income tax expense Insurance expense Interest expense Repairs and maintenance expense 9,500 Retained earnings 800 Salaries expense 98,100...
Use the following to answer questions 10-13 Indicate which of the following accounts should be debited...
Use the following to answer questions 10-13 Indicate which of the following accounts should be debited and which should be credited. An example has been provided (ex). Purchase Office Supplies in exchange for cash Debit : N (Supplies) Credit: C (Cash)...See below. Only include the letter of the account not the account name. A Accounts payable B. Accounts receivable C Cash D. Common stock E. Dividends F. Equipment G. Notes payable H. Prepaid rent L. Rent expense J. Retained earnings...
Following are the general ledger account balances, listed in alphabetical order Accounts payable Accounts receivable Accumulated...
Following are the general ledger account balances, listed in alphabetical order Accounts payable Accounts receivable Accumulated depreciation-equipment 3,700 Rent expense Cash Common shares Dividends declared Equipment s 3,000 Held for trading investments 5,600 400 900 11,720 3,700 6,020 160 4,000 Income tax expense 2,400 Retained earnings 9,100 Salaries expense 300 Service revenue 16,400 Unearned revenue Identify the normal balance of each account. Normal Balance Accounts payable Accounts receivable Accumulated depreciation-equipment Cash Common shares Dividends declared Equipment Held for trading investments...
ccounts from the adjusted trial balance at September 30, 2018, are listed in alphabetical order below...
ccounts from the adjusted trial balance at September 30, 2018,
are listed in alphabetical order below for Ozaki Corp.:
Accounts payable
$4,460
Income tax payable
$200
Accounts receivable
8,600
Interest expense
102
Accumulated depreciation—equipment
750
Interest payable
102
Bank loan payable
7,800
Rent expense
1,500
Cash
3,250
Retained earnings
1,965
Common shares
7,000
Salaries expense
13,040
Depreciation expense
750
Salaries payable
840
Dividends declared
700
Supplies
1,195
Equipment
15,040
Supplies expense
485
Fees earned
22,485
Unearned revenue
480
Income tax...
5,400 BE4-11 Oromocto Corporation reports the following adjusted account balances, shown in alphabetical order, at the...
5,400 BE4-11 Oromocto Corporation reports the following adjusted account balances, shown in alphabetical order, at the end of its fiscal year, February 28, 2018: Accounts payable $13,000 Income tax payable $ 4,550 Accounts receivable 28,000 Insurance expense 3,500 Accumulated depreciation-equipment Prepaid insurance 2,500 Cash 18,000 Rent expense 6,000 Common shares 10,000 Retained earnings 21,000 Depreciation expense 4,400 Salaries payable 3,000 Dividends declared 2,000 Salaries expense 46,400 Equipment 23,450 Supplies 1,000 Fees earned 89,500 Supplies expense 4,000 Income tax expense 4,800...
please show work
Use the following to answer questions 34 - 36 The year-end adjusted trial balance of the Corporation included the following account balances Retained earnings $300.000 Service revenue Salvies expense 650,000 325,000 25.000 Rent expense Interest expense 10.000 Dividends 150,000 Prepare the closing entries. In preparing the closing entries for the temporary accounts, how much should Retained earnings be credited? In preparing the closing entries for the temporary accounts, how much should Retained earnings be debited? After closing...
Use the following to answer questions 34 - 36 The year-end adjusted trial balance of the Corporation included the following account balances: Retained earnings Service revenue Salaries expense $300,000 650,000 325,000 25,000 10,000 150,000 Rent expense Interest expense Dividends Prepare the closing entries. 34. $___ In preparing the closing entries for the temporary accounts, how much should Retained earnings be credited? 35. S_ In preparing the closing entries for the temporary accounts, how much should Retained earnings be debited? 36....
I need help with 34-39
Use the following to answer questions 34 - 36 The year-end adjusted trial balance of the Corporation included the following account balances: Retained earnings Service revenue Salaries expense Rent expense Interest expense Dividends $300,000 450,000 250,000 20,000 5,000 75,000 Prepare the closing entries. 34. $_ In preparing the closing entries for the temporary accounts, how much should Retained earnings be credited? 35. $ In preparing the closing entries for the temporary accounts, how much should...
The following is a list of accounts, in alphabetical order, for Sheridan, Inc. at July 31, 2018: Accounts payable Accounts receivable Accumulated depreciation-equipment Bank loan payable, due 2020 Cash Common shares Depreciation expense Dividends declared Equipment Held for trading investments $9,800 14,300 21,300 38,300 Prepaid insurancee 13,500 Rent expense 38,000 $3,000 1,800 3,700 100 8,700 10,200 20,300 24,700 800 77,900 Income tax expense Insurance expense Interest expense Repairs and maintenance expense 9,500 Retained earnings 800 Salaries expense 98,100 Salaries payable...
A list of accounts, in alphabetical order, and their balances at October 31, 2022 is presented below for Blossom Corporation: Accounts payable Accounts receivable Bank loan payable Cash Common shares Deferred revenue Equipment Income tax expense $3,510 6,790 8,670 13,144 20.240 3,220 16,480 1,406 Rent expense Salaries expense Service revenue Supplies Supplies expense Utilities $1,530 7,080 14,900 2,390 900 820 Prepare a trial balance at October 31, 2022 BLOSSOM CORP. Trial Balance Credit Debit Debit Credit Totals
Question 9 The following is a list of accounts, in alphabetical order, for Sheridan, Inc. at July 31, 2018: Accounts payable Accounts receivable Accumulated depreciation-equipment Bank loan payable, due 2020 Cash Common shares Depreciation expense Dividends declared Equipment Held for trading investments $9,800 14,300 21,300 38,300 Prepaid insurancee 13,500 Rent expense 38,000 $3,000 1,800 3,700 100 8,700 10,200 20,300 24,700 800 77,900 Income tax expense Insurance expense Interest expense Repairs and maintenance expense 9,500 Retained earnings 800 Salaries expense 98,100...
Use the following to answer questions 10-13 Indicate which of the following accounts should be debited and which should be credited. An example has been provided (ex). Purchase Office Supplies in exchange for cash Debit : N (Supplies) Credit: C (Cash)...See below. Only include the letter of the account not the account name. A Accounts payable B. Accounts receivable C Cash D. Common stock E. Dividends F. Equipment G. Notes payable H. Prepaid rent L. Rent expense J. Retained earnings...
Following are the general ledger account balances, listed in alphabetical order Accounts payable Accounts receivable Accumulated depreciation-equipment 3,700 Rent expense Cash Common shares Dividends declared Equipment s 3,000 Held for trading investments 5,600 400 900 11,720 3,700 6,020 160 4,000 Income tax expense 2,400 Retained earnings 9,100 Salaries expense 300 Service revenue 16,400 Unearned revenue Identify the normal balance of each account. Normal Balance Accounts payable Accounts receivable Accumulated depreciation-equipment Cash Common shares Dividends declared Equipment Held for trading investments...
ccounts from the adjusted trial balance at September 30, 2018,
are listed in alphabetical order below for Ozaki Corp.:
Accounts payable
$4,460
Income tax payable
$200
Accounts receivable
8,600
Interest expense
102
Accumulated depreciation—equipment
750
Interest payable
102
Bank loan payable
7,800
Rent expense
1,500
Cash
3,250
Retained earnings
1,965
Common shares
7,000
Salaries expense
13,040
Depreciation expense
750
Salaries payable
840
Dividends declared
700
Supplies
1,195
Equipment
15,040
Supplies expense
485
Fees earned
22,485
Unearned revenue
480
Income tax...
5,400 BE4-11 Oromocto Corporation reports the following adjusted account balances, shown in alphabetical order, at the end of its fiscal year, February 28, 2018: Accounts payable $13,000 Income tax payable $ 4,550 Accounts receivable 28,000 Insurance expense 3,500 Accumulated depreciation-equipment Prepaid insurance 2,500 Cash 18,000 Rent expense 6,000 Common shares 10,000 Retained earnings 21,000 Depreciation expense 4,400 Salaries payable 3,000 Dividends declared 2,000 Salaries expense 46,400 Equipment 23,450 Supplies 1,000 Fees earned 89,500 Supplies expense 4,000 Income tax expense 4,800...
Most questions answered within 3 hours.
-
The energy levels of a quantum mechanical system are given by
the equation: En = -hfo/√n^2+9....
asked 9 minutes ago -
Calculate the molality of an aqueous solution of iron (II)
nitrate with a solute mole fraction...
asked 19 minutes ago -
Use the adjusted trial balance for Stockton Company. Determine
the current asset.
Stockton Company
Adjusted Trial...
asked 11 minutes ago -
Mry has net and taxable income of $55000; her claim for
charitable donation is $4000. How...
asked 28 minutes ago -
Independent random samples were selected from two binomial
populations, with sample sizes and the number of...
asked 29 minutes ago -
Calculate the wavelength of light (in nanometers) emitted from a
hydrogen atom if the electron is...
asked 40 minutes ago -
Please answer in Python 3! 16.2** (Maximum increasingly ordered
subsequence) Write a program that prompts the...
asked 44 minutes ago -
Energy is carried by which of the following waves?
(Select all that apply)
a) light wave...
asked 44 minutes ago -
(Part 1) An investor wants to have $1,000,000 when she retires
in 20 years. If she...
asked 45 minutes ago -
ESP8266/Arduino UNO and temperature sensor MCP9700A.
Temperature sensor gives incorrect temperature readings in
celsius.
Both ESP8266...
asked 47 minutes ago -
1. Why has Dunkin’ Donuts increased its focus on
coffee?
2. Describe the strategy that Dunkin’...
asked 55 minutes ago -
two lady bugs sit on a rotating disk without slipping. lady bug
1 is half away...
asked 59 minutes ago