help, please!Homework Answers
35 (B) Interest receivable is considered as investing activity in statement of cash flow and non operating income in income statement
reason is interest will come on investment only and it not our business so non operating income
34 (B( Interest Receivable A/C. Dr
To Interest revenue
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In 2019, Trevor Construction is in its first year of business. All of Trevor's...
need help with these The Containers Inc, experienced the following events during its first year of...
need help with these
The Containers Inc, experienced the following events during its first year of operations, Year 1: 1. Acquired $42.000 cash by issuing common stock. 2. Earned $25,000 revenue on account. 3. Paid $18,000 cash for operating expenses. 4. Borrowed $10,000 cash from a bank. 5. Collected $22,000 of the balance in accounts receivable. 6. Paid a $1,000 cash dividend. Required Show the effects of the events on the financial statements using a horizontal financial statements model like...
Help please Cordell Inc, experienced the following events in Year 1, its first year of operation:...
Help please
Cordell Inc, experienced the following events in Year 1, its first year of operation: 1. Received $56,000 cash from the issue of common stock 2. Performed services on account for $78,000. 3. Pald a $5,600 cash dividend to the stockholders. 4. Collected $62,000 of the accounts receivable. 5. Paid $56.000 cash for other operating expenses. 6. Performed services for $18,500 cash. 7. Recognized $2,600 of accrued utilities expense at the end of the year. Required a. & c....
can you help andwering e & f G CONSTRUCTION COMPANY Unadjusted Trial Balance December 31, 2030...
can
you help andwering e & f
G CONSTRUCTION COMPANY Unadjusted Trial Balance December 31, 2030 ADJUSTMENTS DEBIT CREDIT CERIT DEBIT CREDIT 210.000 III 18.000 12,500 75.000 124.000 ACCOUNT TITLE Cash Notes Receivable Accounts Recente Inventory 12/31/2020 Prepaid insurance Prepaid Rent Supplies Land Equipment Accum Deprec-Equipment Accounts Payable Unearned Rent Revenue Mortgage Payable (Due 2022) Owner's Capital Owner's Drawings Sales Revenue Sales Returns and Allowances Sales Discount Purchases Purchases and Allowances Purchases Discount Freight-in Rent Expense alaries and Wages Expense...
Flint Corporation completed its first year of operations on December 31, 2022. Its initial income statement...
Flint Corporation completed its first year of operations on December 31, 2022. Its initial income statement showed that Flint Corporation had sales revenue of $212,058 and operatin $88,893. Accounts receivable and accounts payable at year-end were $64,260 and $24,633, respectively. Assume that accounts payable related to operating expenses. Ignore incom Compute net cash provided (used) by operating activity using the direct method. (Show amounts that decrease cash flow with either a - signe.g.-15,000 or in parenthesis (15,000).) Net cash provided...
Chamberlain Enterprises Inc. reported the following receivables in its December 31, 2018, year-end balance sheet: Curren...
Chamberlain Enterprises Inc. reported the following receivables in its December 31, 2018, year-end balance sheet: Current assets: Accounts receivable, net of $24,000 in allowance for uncollectible accounts $ 218,000 Interest receivable 6,800 Notes receivable 260,000 Additional Information: The notes receivable account consists of two notes, a $60,000 note and a $200,000 note. The $60,000 note is dated October 31, 2018, with principal and interest payable on October 31, 2019. The $200,000 note is dated June 30, 2018, with principal and...
I just need help with the statement of cash flow Required: a. Record the transactions for...
I just need help with the
statement of cash flow
Required: a. Record the transactions for the year in general journal form. b. Prepare a Statement of Revenues, Expenses, and Changes in Fund Net Position. c. Prepare a Statement of Net Position as of June 30, 2020. d. Prepare a Statement of Cash Flows for the year ended June 30, 2020. Assume all debt and interest are related to capital outlay. Assume the entire construction work in progress liability (see...
ACCOUNT TITLE UNADJUSTEDTB DEBT CREDIT BIG CONSTRUCTION COMPANY Uradjusted Trial Balance December 200 ADJUSTMENTS ROSTEDTST DEBIT...
ACCOUNT TITLE UNADJUSTEDTB DEBT CREDIT BIG CONSTRUCTION COMPANY Uradjusted Trial Balance December 200 ADJUSTMENTS ROSTEDTST DEBIT CREDIT DER GET Notes Receivable Accounts Receivable Inventory 12/31/2020 Prepaid Insurance Prepaid Rent Supplies 220.000 24 000 23.000 47000 OVE E ST 18,000 1 HELPLBL 12,500 TI 279.000 Land Equipment Accu Deprec Equipment Accounts Payable Unearned Rent Revenue Mortgage Payable (Due 2022) Owner's Capital Owner's Drawings Sales Revenue Sales Returns and Allowances Sales Discount Purchases Purchases and Allowances Purchases Discount Freight in Rent Expense...
The following transactions apply to Hooper Co. for Year 1, its first year of operations: Issued...
The following transactions apply to Hooper Co. for Year 1, its first year of operations: Issued $110,000 of common stock for cash. Provided $90,000 of services on account. Collected $76,000 cash from accounts receivable. Loaned $13,000 to Mosby Co. on November 30, Year 1. The note had a one-year term to maturity and a 8 percent interest rate. Paid $44,000 of salaries expense for the year. Paid a $2,500 dividend to the stockholders. Recorded the accrued interest on December 31,...
8. The WeBuild Construction Company sold $28 million of buildings in its first year of operations....
8. The WeBuild Construction Company sold $28 million of
buildings in its first year of operations. The company received
payments of $16.00 million for these buildings. The company's
income statement would report:
9.
10.
11.
12.
13.
14.
Multiple Choice Accounts Receivable of $16.00 million. o Expenses of $12.00 million. Sales Revenue of $16.00 million. Sales Revenue of $28 million. Required information [The following information applies to the questions displayed below.) The following information for the year ended December 31,...
The adjusted trial balance for Tybalt Construction as of December 31, 2019, follows. TYBALT CONSTRUCTION Adjusted...
The adjusted trial balance for Tybalt Construction as of December 31, 2019, follows. TYBALT CONSTRUCTION Adjusted Trial Balance December 31, 2019 Debit Account Title Credit No. $ 6,000 101 Cash 104 Short-term investments 24,000 126 Supplies 128 Prepaid insurance 167 Equipment 9,000 8,800 55,000 $ 27,500 168 Accumulated depreciation-Equipment 173 Building 174 Accumulated depreciation-Building 180,000 60,000 183 Land 59,050 201 Accounts payable 203 Interest payable 208 Rent payable 16,500 2,200 3,400 210 Wages payable 213 Property taxes payable 233 Unearned...
need help with these
The Containers Inc, experienced the following events during its first year of operations, Year 1: 1. Acquired $42.000 cash by issuing common stock. 2. Earned $25,000 revenue on account. 3. Paid $18,000 cash for operating expenses. 4. Borrowed $10,000 cash from a bank. 5. Collected $22,000 of the balance in accounts receivable. 6. Paid a $1,000 cash dividend. Required Show the effects of the events on the financial statements using a horizontal financial statements model like...
Help please
Cordell Inc, experienced the following events in Year 1, its first year of operation: 1. Received $56,000 cash from the issue of common stock 2. Performed services on account for $78,000. 3. Pald a $5,600 cash dividend to the stockholders. 4. Collected $62,000 of the accounts receivable. 5. Paid $56.000 cash for other operating expenses. 6. Performed services for $18,500 cash. 7. Recognized $2,600 of accrued utilities expense at the end of the year. Required a. & c....
can
you help andwering e & f
G CONSTRUCTION COMPANY Unadjusted Trial Balance December 31, 2030 ADJUSTMENTS DEBIT CREDIT CERIT DEBIT CREDIT 210.000 III 18.000 12,500 75.000 124.000 ACCOUNT TITLE Cash Notes Receivable Accounts Recente Inventory 12/31/2020 Prepaid insurance Prepaid Rent Supplies Land Equipment Accum Deprec-Equipment Accounts Payable Unearned Rent Revenue Mortgage Payable (Due 2022) Owner's Capital Owner's Drawings Sales Revenue Sales Returns and Allowances Sales Discount Purchases Purchases and Allowances Purchases Discount Freight-in Rent Expense alaries and Wages Expense...
Flint Corporation completed its first year of operations on December 31, 2022. Its initial income statement showed that Flint Corporation had sales revenue of $212,058 and operatin $88,893. Accounts receivable and accounts payable at year-end were $64,260 and $24,633, respectively. Assume that accounts payable related to operating expenses. Ignore incom Compute net cash provided (used) by operating activity using the direct method. (Show amounts that decrease cash flow with either a - signe.g.-15,000 or in parenthesis (15,000).) Net cash provided...
I just need help with the
statement of cash flow
Required: a. Record the transactions for the year in general journal form. b. Prepare a Statement of Revenues, Expenses, and Changes in Fund Net Position. c. Prepare a Statement of Net Position as of June 30, 2020. d. Prepare a Statement of Cash Flows for the year ended June 30, 2020. Assume all debt and interest are related to capital outlay. Assume the entire construction work in progress liability (see...
ACCOUNT TITLE UNADJUSTEDTB DEBT CREDIT BIG CONSTRUCTION COMPANY Uradjusted Trial Balance December 200 ADJUSTMENTS ROSTEDTST DEBIT CREDIT DER GET Notes Receivable Accounts Receivable Inventory 12/31/2020 Prepaid Insurance Prepaid Rent Supplies 220.000 24 000 23.000 47000 OVE E ST 18,000 1 HELPLBL 12,500 TI 279.000 Land Equipment Accu Deprec Equipment Accounts Payable Unearned Rent Revenue Mortgage Payable (Due 2022) Owner's Capital Owner's Drawings Sales Revenue Sales Returns and Allowances Sales Discount Purchases Purchases and Allowances Purchases Discount Freight in Rent Expense...
8. The WeBuild Construction Company sold $28 million of
buildings in its first year of operations. The company received
payments of $16.00 million for these buildings. The company's
income statement would report:
9.
10.
11.
12.
13.
14.
Multiple Choice Accounts Receivable of $16.00 million. o Expenses of $12.00 million. Sales Revenue of $16.00 million. Sales Revenue of $28 million. Required information [The following information applies to the questions displayed below.) The following information for the year ended December 31,...
The adjusted trial balance for Tybalt Construction as of December 31, 2019, follows. TYBALT CONSTRUCTION Adjusted Trial Balance December 31, 2019 Debit Account Title Credit No. $ 6,000 101 Cash 104 Short-term investments 24,000 126 Supplies 128 Prepaid insurance 167 Equipment 9,000 8,800 55,000 $ 27,500 168 Accumulated depreciation-Equipment 173 Building 174 Accumulated depreciation-Building 180,000 60,000 183 Land 59,050 201 Accounts payable 203 Interest payable 208 Rent payable 16,500 2,200 3,400 210 Wages payable 213 Property taxes payable 233 Unearned...
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