Homework Answers
Supplies balance in Balance sheet = Beginning supplies+Supplies purchase-Supplies used
= 1480+2150-2070
Supplies balance in balance sheet = 1560
So answer is c) $1560
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At March 1, 2022, Nash's Trading Post, LLC had supplies on hand of $1480. During the...
Question 2 At March 1, 2022, Kingbird, Inc. had supplies on hand of $2280. During the...
Question 2 At March 1, 2022, Kingbird, Inc. had supplies on hand of $2280. During the month, Kingbird, Inc. purchased supples of $3310 and used supplies of $3190. The March 31 balance sheet should report What balance in the supplies account? $3190 $2400 $3310 $2250
On January 1, 2022, Nash's Trading Post, LLC had Accounts Receivable of $57,300 and Allowance for...
On January 1, 2022, Nash's Trading Post, LLC had Accounts Receivable of $57,300 and Allowance for Doubtful Accounts of $3,500. Nash's Trading Post, LLC prepares financial statements annually. During the year, the following selected transactions occurred: Jan. 5 Sold $4,500 of merchandise to Rian Company, terms n/30. Feb. 2 Accepted a $4,500, 4-month, 10% promissory note from Rian Company for balance due. 12 Sold $14,400 of merchandise to Cato Company and accepted Cato's $14,400, 2-month, 10% note for the balance...
edugen.wileyplus.com WileyPLUS Nash's Trading Post, LLC had the following transactions durin Return to Blackboard VPLUS Help...
edugen.wileyplus.com WileyPLUS Nash's Trading Post, LLC had the following transactions durin Return to Blackboard VPLUS Help System Announcements DIII Kimmel, Financial Accounting, 9e TIMER RESOURCES Multiple Choice Question 82 Nash's Trading Post, LLC had the following transactions during 2021: 88 • Sales of $7990 on account • Collected $3550 for services to be performed in 2022 • Paid $1920 cash in salaries for 2021 • Purchased airline tickets for $440 in December for a trip to take place in 2022...
Question 46 2 pts At March 1, 2025, Blanchard, Inc. had supplies on hand of $2,000....
Question 46 2 pts At March 1, 2025, Blanchard, Inc. had supplies on hand of $2,000. During the month, Blanchard purchased supplies of $2,900 and used supplies of $2,800. The March 31 balance sheet should report what balance in the supplies account? $2,900 $2,000 $2,100 $2,800 Next Previous
inment CALCULATOR FI Exercise 2-8 These financial statement items are for Nash's Trading Post, LLC at...
inment CALCULATOR FI Exercise 2-8 These financial statement items are for Nash's Trading Post, LLC at year-end, July 31, 2017. Salaries and wages payable $ 3,080 Salaries and wages expense 58,500 Supplies expense 16,600 Equipment 19,500 Accounts payable 4,100 Service revenue 67,100 Rent revenue 9,500 Notes payable (due in 2020) 2,800 Common stock 16,000 Cash 30,200 Accounts receivable 10,780 Accumulated depreciation-equipment 7,000 Dividends 4,000 Depreciation expense 5,000 Retained earnings (beginning of the year) 35,000 Prepare an income statement for the...
The Nash's Trading Post, LLC purchased $6290 worth of laundry supplies on June 2 and recorded...
The Nash's Trading Post, LLC purchased $6290 worth of laundry supplies on June 2 and recorded the purchase as an asset. On June 30, an inventory of the laundry supplies indicated only $1110 on hand. The adjustment that should be made by the company on June 30 is: increase Supplies, $1110; decrease Supplies Expense, $1110. increase Supplies Expense, $1110; decrease Supplies, $1110. increase Supplies Expense, $5180; decrease Supplies, $5180. increase Supplies, $5180; decrease Supplies Expense, $5180.
Multiple Choice Question 221 The ledger account balances for Nash's Trading Post, LLC at December 31,...
Multiple Choice Question 221 The ledger account balances for Nash's Trading Post, LLC at December 31, 2022 are as follows: Cash Accounts Receivable Prepaid Insurance Supplies Equipment Accumulated Depreciation, Equipment Accounts Payable Common Stock Retained Earnings Service Revenue Salaries and Wages Expense Rent Expense $310 524 84 190 4100 610 386 1300 1410 3100 1100 510 If all accounts have normal balances, what would be total debits on the trial balance at December 31, 2022? $7050 $7420 $6818 $6664 Policy...
Question 22 (2 points) Nash's Trading Post, LLC received a check for $13320 on July 1,...
Question 22 (2 points) Nash's Trading Post, LLC received a check for $13320 on July 1, which represents a 6-month advance payment of rent on a building it rents to a client. Unearned Rent Revenue was increased for the full $13320. Financial statements will be prepared on July 31. Nash's should make the following adjustment on July 31: Cash + $13320; Rent Revenue + $13320 Unearned Rent Revenue ($2220); Rent Revenue + $2220 Rent Revenue ($2220); Unearned Rent Revenue +...
Nash's Trading Post, LLC started the year with $44400 in its Common Stock account and a...
Nash's Trading Post, LLC started the year with $44400 in its Common Stock account and a credit balance in Retained Earnings of $32600. During the year, the company earned net income of $35500 and declared and paid $14800 of dividends. In addition, the company sold additional common stock amounting to $20700. As a result, the amount of its retained earnings at the end of the year would be - $97700. - $53300. - $118400. - $74000.
Current Attempt in Progress At March 1, 2018, Bonita Corp. had supplies on hand of $640....
Current Attempt in Progress At March 1, 2018, Bonita Corp. had supplies on hand of $640. During the month, Minutemen purchased supplies of $1200 and used supplies of $1640. The March 31 adjusting journal entry should include a ООО credit to the supplies account for $640. debit to the supplies account for $1200. debit to the supplies account for $1640. credit to the supplies account for $1640.
Question 2 At March 1, 2022, Kingbird, Inc. had supplies on hand of $2280. During the month, Kingbird, Inc. purchased supples of $3310 and used supplies of $3190. The March 31 balance sheet should report What balance in the supplies account? $3190 $2400 $3310 $2250
On January 1, 2022, Nash's Trading Post, LLC had Accounts Receivable of $57,300 and Allowance for Doubtful Accounts of $3,500. Nash's Trading Post, LLC prepares financial statements annually. During the year, the following selected transactions occurred: Jan. 5 Sold $4,500 of merchandise to Rian Company, terms n/30. Feb. 2 Accepted a $4,500, 4-month, 10% promissory note from Rian Company for balance due. 12 Sold $14,400 of merchandise to Cato Company and accepted Cato's $14,400, 2-month, 10% note for the balance...
edugen.wileyplus.com WileyPLUS Nash's Trading Post, LLC had the following transactions durin Return to Blackboard VPLUS Help System Announcements DIII Kimmel, Financial Accounting, 9e TIMER RESOURCES Multiple Choice Question 82 Nash's Trading Post, LLC had the following transactions during 2021: 88 • Sales of $7990 on account • Collected $3550 for services to be performed in 2022 • Paid $1920 cash in salaries for 2021 • Purchased airline tickets for $440 in December for a trip to take place in 2022...
Question 46 2 pts At March 1, 2025, Blanchard, Inc. had supplies on hand of $2,000. During the month, Blanchard purchased supplies of $2,900 and used supplies of $2,800. The March 31 balance sheet should report what balance in the supplies account? $2,900 $2,000 $2,100 $2,800 Next Previous
inment CALCULATOR FI Exercise 2-8 These financial statement items are for Nash's Trading Post, LLC at year-end, July 31, 2017. Salaries and wages payable $ 3,080 Salaries and wages expense 58,500 Supplies expense 16,600 Equipment 19,500 Accounts payable 4,100 Service revenue 67,100 Rent revenue 9,500 Notes payable (due in 2020) 2,800 Common stock 16,000 Cash 30,200 Accounts receivable 10,780 Accumulated depreciation-equipment 7,000 Dividends 4,000 Depreciation expense 5,000 Retained earnings (beginning of the year) 35,000 Prepare an income statement for the...
The Nash's Trading Post, LLC purchased $6290 worth of laundry supplies on June 2 and recorded the purchase as an asset. On June 30, an inventory of the laundry supplies indicated only $1110 on hand. The adjustment that should be made by the company on June 30 is: increase Supplies, $1110; decrease Supplies Expense, $1110. increase Supplies Expense, $1110; decrease Supplies, $1110. increase Supplies Expense, $5180; decrease Supplies, $5180. increase Supplies, $5180; decrease Supplies Expense, $5180.
Multiple Choice Question 221 The ledger account balances for Nash's Trading Post, LLC at December 31, 2022 are as follows: Cash Accounts Receivable Prepaid Insurance Supplies Equipment Accumulated Depreciation, Equipment Accounts Payable Common Stock Retained Earnings Service Revenue Salaries and Wages Expense Rent Expense $310 524 84 190 4100 610 386 1300 1410 3100 1100 510 If all accounts have normal balances, what would be total debits on the trial balance at December 31, 2022? $7050 $7420 $6818 $6664 Policy...
Question 22 (2 points) Nash's Trading Post, LLC received a check for $13320 on July 1, which represents a 6-month advance payment of rent on a building it rents to a client. Unearned Rent Revenue was increased for the full $13320. Financial statements will be prepared on July 31. Nash's should make the following adjustment on July 31: Cash + $13320; Rent Revenue + $13320 Unearned Rent Revenue ($2220); Rent Revenue + $2220 Rent Revenue ($2220); Unearned Rent Revenue +...
Current Attempt in Progress At March 1, 2018, Bonita Corp. had supplies on hand of $640. During the month, Minutemen purchased supplies of $1200 and used supplies of $1640. The March 31 adjusting journal entry should include a ООО credit to the supplies account for $640. debit to the supplies account for $1200. debit to the supplies account for $1640. credit to the supplies account for $1640.
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