Net income = Service revenue + Merchandise revenue - Rent expense - Salaries expense
= 18000 + 12000 - 20000 - 4500
= 5500
The following table contains Asbury Inc.'s adjusted trial balance: Cash Supplies Prepaid rent Salaries expense Equipment...
The following table contains Michigan Corp.'s adjusted trial balance at December 31st: Cash Supplies Prepaid rent Salaries expense Equipment Service revenue Rent expense Dividends Merchandise revenue Accounts payable Common stock Retained earnings $8,000 $2,000 $4,000 $8,200 $40,000 $21,000 $10,000 $5,000 $8,000 $14,000 ? $6,200 On Michigan's balance sheet, the amount shown for Common stock would make up what percentage of total stockholders' equity? (Enter the percentage as a whole number, ex: 15 not.15)
The following table contains Michigan Corp.'s adjusted trial balance at December 31st: Cash Supplies Prepaid rent Salaries expense Equipment Service revenue Rent expense Dividends Merchandise revenue Accounts payable Common stock Retained earnings $8,000 $2,000 $4,000 $8,200 $40,000 $21,000 $10,000 $5,000 $8,000 $14,000 ? $6,200 On Michigan's balance sheet, the amount shown for Common stock would make up what percentage of total stockholders' equity? (Enter the percentage as a whole number, ex: 15 not.15) Numeric Response
A company reports the following balances before closing entries: Cash Supplies Prepaid Rent Salary Expense Equipment Service Revenue Miscellaneous Expenses Dividends Accounts Payable Common Stock Retained Earnings $12,000 4,500 2.000 4,500 65.000 30,000 20,000 3,000 5,000 68,000 8,000 What is the amount of ending Retained Earnings reported in the balance sheet?
Data Table Cash 10,000 Accounts receivable 18,900 Supplies 2,000 1,300 Prepaid rent Equipment 36,900 Accumulated depreciation-equipment 4,100 Accounts payable 8,700 Interest payable 800 Unearned service revenue 500 Income tax payable 2,000 Note payable 18,400 Common stock 11,000 Retained earnings 5,000 Dividends 3,000 Service revenue 98,900 Depreciation expense-equipment 1,300 Salary expense 49,800 Rent expense 11,200 Interest expense 2,500 Insurance expense 3,500 2,100 Supplies expense 6,900 Income tax expense 149,400 $ 149,400 Total Print Done %24 The adjusted trial balance for the...
The following table contains financial information for Trumpeter Inc. Cash Supplies Prepaid Rent Salary Expense Equipment Service Revenue Miscellaneous Expenses Dividends Accounts Payable Common Stock Retained Earnings $13,500 5,600 2,600 5,300 66,700 29,300 21,200 4,100 4,900 67,600 17,200 What is Trumpeter's net income? O $8,700 O $7,700 O $2,800 O $3,300
Credit $ 2,000 BUSI 1043 INC. Adjusted Trial Balance Asat December 31, 2019 Debit Cash $ 20,000 Accounts Receivable $ 17,000 Allowance for doubtful accounts Inventory $ 10,000 Prepaid Expenses $ 2,000 Long Term Investments $100,000 Building $300,000 Accumulated Depreciation - Building Equipment $ 75,000 Accumulated Depreciation - Equipment Accounts Payable Salaries Payable Interest Payable Income Tax Payable Unearned Revenue Current portion of bank loan payable Bank loan payable Common Shares Dividends Declared $ 16,000 $ 30,000 $ 15,000 $...
Debit Company Adjusted Trial Balance December 31, 20X7 Cash $6,500 Accounts receivable 8,000 Supplies 1,000 Prepaid Rent (3 months) 2,500 Equipment, net 42,000 Accounts payable Salary payable Unearned revenue (2 month advance) Note payable - long term Common stock Retained earnings Dividends 4,000 Service revenue Salary expense 40,000 Rent expense 10,000 Supplies expense 1,500 Depreciation expense 5,000 Utilities expense 1,200 $4,000 2,000 2,000 14,000 10,000 14,700 75,000 Total $121,700 $121.700 *Assume 30% income tax Balance Sheet Assets Liabilities Total Liabilities...
The following table contains financial information for Trumpeter Inc. before closing entries: Cash Supplies Prepaid Rent Salaries Expense Equipment Service Revenue Miscellaneous Expenses Dividends Accounts Payable Common Stock Retained Earnings $12,700 5,400 3,100 5,100 65,200 29,700 21,000 5,000 3,400 67.900 16,500 27:29 Dok "ences What is the amount of Trumpeter's total assets? Multiple Choice < Prev 45 of 50 Next > Taw pe here to search OR
The following table contains financial information for Trumpeter Inc. before closing entries: Cash Supplies Prepaid Rent Salaries Expense Equipment Service Revenue Miscellaneous Expenses Dividends Accounts Payable Common Stock Retained Earnings $13,400 5,200 2,600 6,100 65,900 29,100 21,900 4,400 4,400 66,200 19,800 What is Trumpeter's net income?
The following table contains financial information for Trumpeter Inc. before closing entries: Cash Supplies Prepaid Rent Salaries Expense Equipment Service Revenue Miscellaneous Expenses Dividends Accounts Payable Common Stock Retained Earnings $13,200 5,600 2,500 5,600 65,500 29,500 20,700 3,200 3,600 66,700 16,500 What is Trumpeter's net income?