Use the following information for questions 11 through 16. Agnes Hardware has the following selected account...
Use the following information for questions 11 through 16. Agnes Hardware has the following selected account balances at the end of 2020 (except for retained earnings). No dividends were declared or paid. Place your answers on the answer sheet at the end of the section. For these questions and just the below accounts, show your calculations in the following pages provided. Accounts payable 25 Accounts receivable 170 Accumulated depreciation 80 Building 400 Cash 40 Common stock 300 Depreciation expense 50 Interest expense 25 Income tax expense 90 Inventory 320 Land 210 Notes payable, due 2025 300 Retained earnings, 12/31/19 255 Salary expense 150 Salary payable 45 Sales revenue 700 Utilities expense 250 11.
Agnes’s Net Income for 2020 is? 12. Agnes’s Total Current Assets at 12/31/20 is? 13. Agnes’s Current Ratio at 12/31/20 is? 14. Agnes’s Total Assets at 12/31/20 is? 15. Agnes’s Total Debt at 12/31/20 is? 16. Agnes’s Retained Earnings at 12/31/20 is?
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Use the following information for questions 11 through 16. Agnes
Hardware has the following selected account...
Use the following to answer questions 20 - 26 The following are the year-end account balances...
Use the following to answer questions 20 - 26 The following are the year-end account balances for 20XC (prior to closing) of BA Corporation: Cash Accounts Receivable Supplies $15,000 20,000 200 1.000.000 200.000 Equipment Accumulated depreciation Accounts payable Notes payable 10,000 250,000 400,000 56.200 60,000 456,000 Common stock Retained earnings Dividends Service revenue Salaries expense Supplies expense Rent expense Depreciation expense 195.000 25 000 Miscellaneous expense 50,000 _Determine total expenses for the year _Determine net income for the year Determine...
Use the following to answer questions 20-26 The following are the year-end account balances for 20XC...
Use the following to answer questions 20-26 The following are the year-end account balances for 20XC (prior to closing) of BA Corporation: Cash Accounts Receivable Supplies Equipment Accumulated depreciation Accounts payable Notes payable Common stock Retained earnings Dividends Service revenue Salaries expense Supplies expense Rent expense Depreciation expense Miscellaneous ex pense $15,000 20,000 200 1,000,000 200,000 10,000 250,000 400,000 56,200 60,000 456,000 195,000 1,000 6,000 25,000 50,000 Determine total expenses for the year _Determine net income for the year Determine...
Agnes Co. Unadjusted Trial Balance 6/30/20 Debit Credit Cash $10,000 Accounts Receivable $13,200 Supplies $2,400 Prepaid...
Agnes Co. Unadjusted Trial Balance 6/30/20 Debit Credit Cash $10,000 Accounts Receivable $13,200 Supplies $2,400 Prepaid Insurance $1,500 Equipment $38,500 Accumulated Depreciation $8,300 Accounts Payable $2,500 Unearned Service Revenue $8,900 Common Stock $15,000 Retained Earnings $9,500 Service Revenue $35,000 Salary Expense $11,200 Utilities Expenses $2,400 $79,200 $79,200 Additional information (not reflected in the above): Supplies used during the month, $450. Prepaid insurance expired during the month, $300. Depreciation on equipment for the month, $500. Unearned service revenue earned during the...
Check my work Part 5 of 7 Required information (The following information applies to the questions...
Check my work Part 5 of 7 Required information (The following information applies to the questions displayed below.) Mint Cleaning Inc. prepared the following unadjusted trial balance at the end of its second year of operations ending December 31. (Assume amounts are reported in thousands of dollars.) points Debit Credit $ 40 eBook 84 $ 0 11 Print Account Titles Cash Accounts Receivable Prepaid Insurance Equipment Accumulated Depreciation Accounts Payable Common Stock Retained Earnings Sales Revenue Insurance Expense Salaries and...
Use the following to answer questions 20-26 lowing are the year-end account balances for 20xC (prior...
Use the following to answer questions 20-26 lowing are the year-end account balances for 20xC (prior to closing) of BA Corporation: $15,000 20,000 A=LASE 200 RECS 1,000,000 200,000 10,000 250,000 400,000 RE+I-D Cash Accounts Receivable Supplies Equipment Accumulated depreciation Accounts payable Notes payable Common stock Retained earnings Dividends Service revenue Salaries expense Supplies expense Rent expense Depreciation expense Miscellaneous expense 56,200 Beginning 60,000 456,000 - 195,000 - 1.000 - 6,000 - 25,000 - 50,000 - 20. 5271000 Determine total expenses...
Use the following selected financial information for Wilcox Corporation to answer questions 11-20. Wilcox Corporation Income...
Use the following selected financial information for Wilcox Corporation to answer questions 11-20. Wilcox Corporation Income Statement For the Year Ended December 31, 20XX Net sales $2,870 Cost of goods sold 1,985 Gross profit $ 885 Operating expenses 620 Operating profit $ 265 Interest expense 40 Earnings before taxes $ 225 Income tax expense 80 Net profit $ 145 Wilcox Corporation Balance Sheet December 31, 20XX Assets Liabilities and stockholders' equity Current assets Current liabilities Cash $ 25 Accounts payable $ 85 Short-term investments 15 Accrued liabilities 45 Accounts receivable 70 Total current...
Use the following information for the Quick Study below. (The following information applies to the questions...
Use the following information for the Quick Study below. (The following information applies to the questions displayed below.) A comparative balance sheet and income statement is shown for Cruz, Inc. 2016 CRUZ, INC. Comparative Balance Sheets December 31, 2017 2017 Assets Cash $ 75,900 Accounts receivable, net 32,600 Inventory 68,300 Prepaid expenses 4,200 Total current assets 181,000 Furniture 84,600 Accum. depreciation-Furniture (13, 100) Total assets $252,500 Liabilities and Equity Accounts payable $ 11,900 Wages payable 7,100 Income taxes payable 1,200...
Use the following information for the Quick Study below. (The following information applies to the questions...
Use the following information for the Quick Study below. (The following information applies to the questions displayed below.) A comparative balance sheet and income statement is shown for Cruz, Inc. 2016 CRUZ, INC. Comparative Balance Sheets December 31, 2017 2017 Assets Cash $ 75,900 Accounts receivable, net 32,600 Inventory 68,300 Prepaid expenses 4,200 Total current assets 181,000 Furniture 84,600 Accum. depreciation-Furniture (13, 100) Total assets $252,500 Liabilities and Equity Accounts payable $ 11,900 Wages payable 7,100 Income taxes payable 1,200...
Question 11 of 14 5 > Current Attempt in Progress The adjusted trial balance of Joseph...
Question 11 of 14 5 > Current Attempt in Progress The adjusted trial balance of Joseph Cooper Co. as of December 31, 2020, contains the following. Credit JOSEPH COOPER CO. ADJUSTED TRIAL BALANCE DECEMBER 31, 2020 Debit Cash $20,012 Accounts Receivable 7,460 Prepaid Rent 2.820 Equipment 18,590 Accumulated Depreciation-Equipment Notes Payable Accounts Payable Common Stock Retained Earnings Dividends 3.540 Service Revenue Salaries and Wages Expense 7.380 Rent Expense 2.218 Depreciation Expense 187 Interest Expense 125 Interest Payable $62,332 $5,435 6,240...
Use the following information for the Quick Study below. [The following information applies to the questions...
Use the following information for the Quick Study below. [The following information applies to the questions displayed below A comparative balance sheet and income statement is shown for Cruz, Inc. CRUZ, INC. Comparative Balance Sheets December 31, 2017 2017 2016 Assets Cash Accounts rece ivable , net Inventory Prepaid expenses $75,900 32,600 68,300 4,200 18,900 40,100 75,300 3,500 Total current assets 181,000 84,600 (13,100) $252,500 137,800 Furniture 99,200 (7,500) Accum. depreciation-Furniture Total assets $229,500 Liabilities and Equity Accounts payable Wages...
Use the following to answer questions 20 - 26 The following are the year-end account balances for 20XC (prior to closing) of BA Corporation: Cash Accounts Receivable Supplies $15,000 20,000 200 1.000.000 200.000 Equipment Accumulated depreciation Accounts payable Notes payable 10,000 250,000 400,000 56.200 60,000 456,000 Common stock Retained earnings Dividends Service revenue Salaries expense Supplies expense Rent expense Depreciation expense 195.000 25 000 Miscellaneous expense 50,000 _Determine total expenses for the year _Determine net income for the year Determine...
Use the following to answer questions 20-26 The following are the year-end account balances for 20XC (prior to closing) of BA Corporation: Cash Accounts Receivable Supplies Equipment Accumulated depreciation Accounts payable Notes payable Common stock Retained earnings Dividends Service revenue Salaries expense Supplies expense Rent expense Depreciation expense Miscellaneous ex pense $15,000 20,000 200 1,000,000 200,000 10,000 250,000 400,000 56,200 60,000 456,000 195,000 1,000 6,000 25,000 50,000 Determine total expenses for the year _Determine net income for the year Determine...
Check my work Part 5 of 7 Required information (The following information applies to the questions displayed below.) Mint Cleaning Inc. prepared the following unadjusted trial balance at the end of its second year of operations ending December 31. (Assume amounts are reported in thousands of dollars.) points Debit Credit $ 40 eBook 84 $ 0 11 Print Account Titles Cash Accounts Receivable Prepaid Insurance Equipment Accumulated Depreciation Accounts Payable Common Stock Retained Earnings Sales Revenue Insurance Expense Salaries and...
Use the following to answer questions 20-26 lowing are the year-end account balances for 20xC (prior to closing) of BA Corporation: $15,000 20,000 A=LASE 200 RECS 1,000,000 200,000 10,000 250,000 400,000 RE+I-D Cash Accounts Receivable Supplies Equipment Accumulated depreciation Accounts payable Notes payable Common stock Retained earnings Dividends Service revenue Salaries expense Supplies expense Rent expense Depreciation expense Miscellaneous expense 56,200 Beginning 60,000 456,000 - 195,000 - 1.000 - 6,000 - 25,000 - 50,000 - 20. 5271000 Determine total expenses...
Use the following information for the Quick Study below. (The following information applies to the questions displayed below.) A comparative balance sheet and income statement is shown for Cruz, Inc. 2016 CRUZ, INC. Comparative Balance Sheets December 31, 2017 2017 Assets Cash $ 75,900 Accounts receivable, net 32,600 Inventory 68,300 Prepaid expenses 4,200 Total current assets 181,000 Furniture 84,600 Accum. depreciation-Furniture (13, 100) Total assets $252,500 Liabilities and Equity Accounts payable $ 11,900 Wages payable 7,100 Income taxes payable 1,200...
Use the following information for the Quick Study below. (The following information applies to the questions displayed below.) A comparative balance sheet and income statement is shown for Cruz, Inc. 2016 CRUZ, INC. Comparative Balance Sheets December 31, 2017 2017 Assets Cash $ 75,900 Accounts receivable, net 32,600 Inventory 68,300 Prepaid expenses 4,200 Total current assets 181,000 Furniture 84,600 Accum. depreciation-Furniture (13, 100) Total assets $252,500 Liabilities and Equity Accounts payable $ 11,900 Wages payable 7,100 Income taxes payable 1,200...
Question 11 of 14 5 > Current Attempt in Progress The adjusted trial balance of Joseph Cooper Co. as of December 31, 2020, contains the following. Credit JOSEPH COOPER CO. ADJUSTED TRIAL BALANCE DECEMBER 31, 2020 Debit Cash $20,012 Accounts Receivable 7,460 Prepaid Rent 2.820 Equipment 18,590 Accumulated Depreciation-Equipment Notes Payable Accounts Payable Common Stock Retained Earnings Dividends 3.540 Service Revenue Salaries and Wages Expense 7.380 Rent Expense 2.218 Depreciation Expense 187 Interest Expense 125 Interest Payable $62,332 $5,435 6,240...
Use the following information for the Quick Study below. [The following information applies to the questions displayed below A comparative balance sheet and income statement is shown for Cruz, Inc. CRUZ, INC. Comparative Balance Sheets December 31, 2017 2017 2016 Assets Cash Accounts rece ivable , net Inventory Prepaid expenses $75,900 32,600 68,300 4,200 18,900 40,100 75,300 3,500 Total current assets 181,000 84,600 (13,100) $252,500 137,800 Furniture 99,200 (7,500) Accum. depreciation-Furniture Total assets $229,500 Liabilities and Equity Accounts payable Wages...
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