Op-4J Company's December 31, 2028 unadjusted trial balance reported the following accounts: Accounts Payable ............ $54,000...
Op-4J Company's December 31, 2028 unadjusted trial balance reported the following accounts: Accounts Payable ............ $54,000 Accounts Receivable ......... $47,000 Advertising Expense ......... $21,000 Cash ........................ $18,000 Common Stock ................ $73,000 Cost of Goods Sold .......... $41,000 Dividends ................... $10,000 Equipment ................... $68,000 Income Tax Expense .......... $20,000 Interest Revenue ............ $46,000 Inventory ................... $55,000 Mortgage Payable ............ $51,000 Retained Earnings ........... $36,000 (at January 1, 2028) Sales Revenue ............... $93,000 Supplies .................... $28,000 Trademark ................... $49,000 Unearned Revenue ............ $33,000 Wage Expense ................ $29,000 Op-4J Company has not yet recorded an adjusting entry to record $9,000 of supplies that were used up during 2028. Calculate the amount of net income that Op-4J Company would report in its 2028 income statement after the appropriate adjusting entry is made to record the used up supplies.
Homework Answers
Net income:
= Revenues - Expenses
= ($46,000 + $93,000) - ($21,000 + $41,000 + $20,000 + $29,000 + $9,000)
= $19,000
Add Answer to:
Op-4J Company's December 31, 2028 unadjusted trial
balance reported the following accounts:
Accounts Payable ............ $54,000...
Company's December 31, 2028 unadjusted trial balance reported the following accounts: |||Accounts Payable ............ $54,000||| |||Accounts...
Company's December 31, 2028 unadjusted trial balance reported the following accounts: |||Accounts Payable ............ $54,000||| |||Accounts Receivable ......... $47,000||| |||Advertising Expense ......... $21,000||| |||Cash ........................ $18,000||| |||Common Stock ................ $73,000||| |||Cost of Goods Sold .......... $41,000||| |||Dividends ................... $10,000||| |||Equipment ................... $68,000||| |||Income Tax Expense .......... $20,000||| |||Interest Revenue ............ $46,000||| |||Inventory ................... $55,000||| |||Mortgage Payable ............ $51,000||| |||Retained Earnings ........... $36,000 |||(at January 1, 2028) |||Sales Revenue ............... $93,000||| |||Supplies .................... $28,000||| |||Trademark ................... $49,000||| |||Unearned Revenue ............ $33,000|||...
R2-Uz Company's December 31, 2026 unadjusted trial balance reported the following accounts: Accounts Payable Accounts Receivable...
R2-Uz Company's December 31, 2026 unadjusted trial balance reported the following accounts: Accounts Payable Accounts Receivable Accumulated Depreciation Cash ... Common Stock Cost of Goods Sold Depreciation Expense Equipment Income Tax Expense Inventory Investment Revenue Mortgage Payable Retained Earnings Sales Revenue Supplies Trademark Unearned Revenue Hage Expense $37,600 561,800 $33,000 $20,000 $45,000 $47.000 $16.000 $71,800 $12,000 $70,000 565,000 $40,000 542,600 Cat January 1, 2026) 595,000 $26.000 $22,000 $19,000 $31.000 R2-Uz Company has not yet recorded an adjusting entry to record...
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Barney Company Unadjusted Trial Balance December 31, 2018 Cash Accounts Receivable Supplies Prepaid Insurance Inventory Vehicle 145,000 23,000 6,500 24,000 110,000 15,000 75,000 50,000 8,000 16,900 3,000 45,000 46,000 67,600 5,000 490,000 Equipment Accumulated Depreciation Accounts Payable Unearned Revenue Wages Payable Long-Term Notes Payable Common Stock Retained Earnings (1/1/2018) Dividends Service Revenue Repair Expense Delivery Expense Depreciation Expense Rent Expense Insurance Expense Wages Expense Supplies Expense Interest Expense Income Tax Expense Total 10,000 45,000 5,000 54,000 12,000 145,000 13,000 4,000...
R2-Uz Company's December 31, 2026 unadjusted trial balance reported the following accounts: Accounts Payable Accounts Receivable Accumulated Depreciation Cash ... Common Stock Cost of Goods Sold Depreciation Expense Equipment Income Tax Expense Inventory Investment Revenue Mortgage Payable Retained Earnings Sales Revenue Supplies Trademark Unearned Revenue Hage Expense $37,600 561,800 $33,000 $20,000 $45,000 $47.000 $16.000 $71,800 $12,000 $70,000 565,000 $40,000 542,600 Cat January 1, 2026) 595,000 $26.000 $22,000 $19,000 $31.000 R2-Uz Company has not yet recorded an adjusting entry to record...
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