Homework Answers
| Answer | ||||
| Total Current assets | ||||
| Cash | $ 3,230 | |||
| Accounts recievable | $ 3,100 | |||
| Prepaid rent | $ 1,800 | |||
| office supplies | $ 3,600 | |||
| Total Current assets | $ 11,730 | |||
| Total Current liabilities: | ||||
| Accounts payable | $ 5,100 | |||
| Total Current liabilities: | $ 5,100 | |||
| CURRENT RATIO: | ||||
| Current assets / | Current liabilities = | Current ratio | ||
| 11730 / | 5100 = | 2.30 | ||
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Cash Accounts Receivable Prepaid Rent Office Supplies Equipment Accumulated Depreciation Equipment Accounts Payable Notes Payable (long-term)...
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Data Table Cash 10,000 Accounts receivable 18,900 Supplies 2,000 1,300 Prepaid rent Equipment 36,900 Accumulated depreciation-equipment...
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Cash Supplies Prepaid Insurance Land Equipment Accumulated Depreciation Equipment Accounts Payable Uneamed Service Revenue Mortgage Payable...
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Accounts Payable Accounts Receivable Accumulated Depreciation - Buildings Accumulated Depreciation - Equipment Accumulated Depreciation - Furniture...
Accounts Payable
Accounts Receivable
Accumulated Depreciation - Buildings
Accumulated Depreciation - Equipment
Accumulated Depreciation - Furniture
Accumulated Depreciation - Vehicles
Advertising Expense
Bank Loan Payable
Bank Loan Receivable
Buildings
Cash
Common Shares
Depreciation Expense
Dividends Declared
Equipment
Fees Earned
Furniture
Income Summary
Income Tax Expense
Income Tax Payable
Income Tax Receivable
Insurance Expense
Insurance Revenue
Interest Expense
Interest Payable
Interest Receivable
Interest Revenue
Land
Mortgage Payable
No Entry
Notes Receivable
Office Expense
Prepaid Advertising
Prepaid Expense
Prepaid Insurance
Prepaid Rent...
Cash 11,000 Accounts Receivable 7,300 Prepaid Rent 2,200 Equipment 23,000 Accumulated Depreciation-Equip. 4,500 Notes Payable 5,700...
Cash 11,000 Accounts Receivable 7,300 Prepaid Rent 2,200 Equipment 23,000 Accumulated Depreciation-Equip. 4,500 Notes Payable 5,700 Accounts Payable 4,500 Common Stock 22,790 Retained Earnings 7,030 Dividends 3,600 Service Revenue 15,200 Salaries and Wages Expense 11,000 Rent Expense 900 Depreciation Expense Interest Expense Interest Payable Totals 59,750 59,750 NO. Date ACCOUNE Trues and explanation WEDNE (1) Apr. 30 (To dose revenue account) (2) Apr. 30 (To dose expense accounts) (3) Apr. 30 (To dose net income / (loss)) (4) Apr. 30...
Mccount Cash recounts Receivable Computer Supplies Prepaid Insurance Prepaid Rent office Equipment Computer Equipment Accounts Payable...
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CALOVATO Credit Debit $3,600 2.900 18,750 Prepaid Insurance Supplies Equipment Accumulated Depreciation Equipment Notes Payable Unearned...
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August 31, 2022 Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Accounts Payable Salaries and Wages Payable Unearned Rent Revenue Common Stock Retained Earnings Dividends Service Revenue Rent Revenue Salaries and Wages Expense Supplies Expense Rent Expense Insurance Expense Depreciation Expense Before Adjustment Dr. Cr. $10,260 8,470 2,500 4,340 15,800 h $3,555 5,780 0 1,830 19,800 5,830 2.910 32,070 13.570 16,670 0 21,485 O 0 $82,435 $82,435 After Adjustment Dr. Cr. $10,260 8,970 660 3,080 15,800 $4,755 5,780 1,280...
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6,000 2,100 1,000 500 150,000 Cash Accounts Receivable Prepaid Expenses Supplies Equipment Accumulated Depreciation Accounts Payable Unearned Fees Notes Payable Bob Steely, Capital Bob Steely. Withdrawals Fees Earned Wages Expense Rent Expense Utilities Expense Depreciation Expense Miscellaneous Expense 15,000 6,200 4,000 14,000 19,000 8.000 154,900 25,000 12,000 3,400 5,000 100 Totals 213,100 213,100 In the space below, calculate: a) net income b) total assets c) total liabilities d) total current assets e) beginning balance of Owner's Equity for next year.
Accounts Payable
Accounts Receivable
Accumulated Depreciation - Buildings
Accumulated Depreciation - Equipment
Accumulated Depreciation - Furniture
Accumulated Depreciation - Vehicles
Advertising Expense
Bank Loan Payable
Bank Loan Receivable
Buildings
Cash
Common Shares
Depreciation Expense
Dividends Declared
Equipment
Fees Earned
Furniture
Income Summary
Income Tax Expense
Income Tax Payable
Income Tax Receivable
Insurance Expense
Insurance Revenue
Interest Expense
Interest Payable
Interest Receivable
Interest Revenue
Land
Mortgage Payable
No Entry
Notes Receivable
Office Expense
Prepaid Advertising
Prepaid Expense
Prepaid Insurance
Prepaid Rent...
Cash 11,000 Accounts Receivable 7,300 Prepaid Rent 2,200 Equipment 23,000 Accumulated Depreciation-Equip. 4,500 Notes Payable 5,700 Accounts Payable 4,500 Common Stock 22,790 Retained Earnings 7,030 Dividends 3,600 Service Revenue 15,200 Salaries and Wages Expense 11,000 Rent Expense 900 Depreciation Expense Interest Expense Interest Payable Totals 59,750 59,750 NO. Date ACCOUNE Trues and explanation WEDNE (1) Apr. 30 (To dose revenue account) (2) Apr. 30 (To dose expense accounts) (3) Apr. 30 (To dose net income / (loss)) (4) Apr. 30...
Mccount Cash recounts Receivable Computer Supplies Prepaid Insurance Prepaid Rent office Equipment Computer Equipment Accounts Payable Account 101 S. Rey Capital 106 . Rey, Withdrawals 126 Computer Services Revenue 128 Wages Expense 131 Advertising Expense 163 Mileage Expense 167 Miscellaneous Expenses 201 Repairs Expense-Computer 301 302 403 623 655 676 677 Oct. 15. Rey invested $50,000 cash, a $21,000 computer system, and $9,000 of office equipment in the company. 2 The company paid $3,280 cash for four month rent Hint...
$ 3,500 8,500 2,500 16,90 Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Utilities Payable Deferred Revenue Common Stock Retained Earnings Totals $ 4,000 2,eee 3,000 13,eee 8,5ee $30,500 $30,500 The following is a summary of the transactions for the year 1. January 24 Provide plumbing services for cash, $10,000, and on account, $55,000. 2. March 13 Collect on accounts receivable, $43,000. 3. May 6 Issue shares of common stock in exchange for $12,000 cash. 4. June 30 Pay...
CALOVATO Credit Debit $3,600 2.900 18,750 Prepaid Insurance Supplies Equipment Accumulated Depreciation Equipment Notes Payable Unearned Rent Revenue Rent Revenue Interest Expense Salaries and Wages Expense $ 8,700 25.000 10.800 61,000 0 18.000 An analysis of the accounts shows the following. The equipment depreciates $300 per month 2 One-third of the uneared rent revenue was earned during the quarter 3. Interest totaling $625 is accrued on the notes payable for the quarter 4. Supplies on hand total 5680. Insurance expires...
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