Homework Answers
| Ans. | CRYSTAL COMPANY | |||
| Income Statement | ||||
| December 31, 2021 | ||||
| Particulars | Amount | |||
| Revenues : | ||||
| Net sales revenue | $1,903,700 | |||
| Interest revenue | $12,000 | |||
| Rent revenue | $25,000 | |||
| Total revenues | $1,940,700 | |||
| Less: Expenses: | ||||
| Cost of goods sold | -$860,000 | |||
| Advertising expense | -$53,000 | |||
| Freight out | -$27,000 | |||
| Depreciation expense | -$43,540 | |||
| Insurance expense | -$16,000 | |||
| Interest expense | -$10,500 | |||
| Salaries expense | -$630,000 | |||
| Total expenses | -$1,640,040 | |||
| Net income | $300,660 | |||
| *Net sales = Sales - Sales returns and allowances - Sales discounts | ||||
| $1,970,000 - $9,300 - $57,000 | ||||
| $1,903,700 | ||||
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The following is information from Crystal Company's adjusted trial balance at December 31, 2021: Debit Credit...
The following is information from Crystal Company's adjusted trial balance at December 31, 2021: Debit Credit...
The following is information from Crystal Company's adjusted trial balance at December 31, 2021: Debit Credit Cash $76,000 Notes receivable 101,000 Merchandise inventory 70,000 Equipment 450,600 Accumulated depreciation-equipment $135,180 Unearned revenue 8,600 Notes payable 168,880 L. Crystal, capital 235,000 L. Crystal, drawings 144,000 Interest revenue 11,000 25,000 Rent revenue Sales 1,980,000 Advertising expense 57,000 Cost of goods sold 850,000 Depreciation expense 45,060 Freight out 25,000 - BUSA-2205 NE X Chapter 5 Assignment .com / ments 657282 Unearned revenue 8,600 Notes...
Question 3 View Policies Current Attempt in Progress laborations The following is information from Crystal Company's...
Question 3 View Policies Current Attempt in Progress laborations The following is information from Crystal Company's adjusted trial balance at December 31, 2021 ey PLUS port Debit Credit Cash $74.000 Notes receivable Merchandise inventory 102,000 71,000 Equipment 464,200 Accumulated depreciation-equipment $139,260 Unearned revenue 7.700 Notes payable 217,960 231,000 L. Crystal, capital L. Crystal, drawings 160,000 Interest revenue 12.000 search 0 e 9 terlagen Tindred.com G FAIRCHI Shok Notes payable L. Crystal, capital 217,960 231,000 L. Crystal, drawings 160,000 Interest revenue...
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Saved The adjusted trial balance for Starbucks Electric Crane (SEC) Company at December 31, 2021, is...
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The adjusted trial balance for China Tea Company at December 31, 2021, is presented below: Accounts Debit Credit...
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The adjusted trial balance for China Tea Company at December 31, 2021, Is presented below: Credit...
The adjusted trial balance for China Tea Company at December 31, 2021, Is presented below: Credit Debit 11,900 164,000 6,400 39,000 440,000 Cash Accounts receivable Prepaid rent Inventory Equipment Accumulated depreciation- equipment Accounts payable Notes payable due in three months Salaries payable Interest payable Common stock Retained earnings Dividends Sales revenue Costs of goods sold Salaries expense Rent expense Depreciation expense Interest expense Advertising expense Totals 139,000 44,000 44,000 5,400 16,100 270,000 80,800 79,100 540,000 250,000 134,000 29,000 44,000 3,400...
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The following information applies to the questions displayed below) The December 31, 2021. adjusted trial balance...
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The following is information from Crystal Company's adjusted trial balance at December 31, 2021: Debit Credit Cash $76,000 Notes receivable 101,000 Merchandise inventory 70,000 Equipment 450,600 Accumulated depreciation-equipment $135,180 Unearned revenue 8,600 Notes payable 168,880 L. Crystal, capital 235,000 L. Crystal, drawings 144,000 Interest revenue 11,000 25,000 Rent revenue Sales 1,980,000 Advertising expense 57,000 Cost of goods sold 850,000 Depreciation expense 45,060 Freight out 25,000 - BUSA-2205 NE X Chapter 5 Assignment .com / ments 657282 Unearned revenue 8,600 Notes...
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The adjusted trial balance for China Tea Company at December 31, 2021, is presented below: Credit Debit 10,500 150,000 5,000 25,000 300,000 Cash Accounts receivable Prepaid rent Inventory Equipment Accumulated depreciation equipment Accounts payable Notes payable-due in three months Salaries payable Interest payable Common stock Retained earnings Dividends Sales revenue Costs of goods sold Salaries expense Rent expense Depreciation expense Interest expense Advertising expense Totals 125,000 30,000 30,000 4,000 9,000 200,000 50,000 8,000 400,000 nces 180,000 120,000 15,000 30,000 2,000...
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The following information applies to the questions displayed below) The December 31, 2021. adjusted trial balance for Fight Blue Hens Corporation is presented below. Debit $ 10,500 135.00 1,500 22,500 250, $120,000 10,5ee 9, See Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts Payable Salaries Payable Interest Payable Notes Payable (due in two years) Common Stock Retained Earnings Service Revenue Salaries Expense Rent Expense Depreciation Expense Interest Expense Totals 45, 350,000 250.000 5713,500 $713,50 Required: 1. Prepare an...
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