Homework Answers
Ans:
| Account | Financial Statements |
| Accumulated Depreciation | Balance Sheet |
| Depreciation Expense | Income Statement |
| Retained earnings (Beginning) | Balance Sheet |
| Dividends | Balance Sheet |
| Service Revenue | Income Statement |
| Supplies | Income Statement |
| Accounts payable | Balance Sheet |
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Q4.37: Pacific Coast Fisheries incurs fuel cost every month but is billed for the same in...
Q4.10: An adjustment for an accrual affects which of the following accounts? Q4.37: Pacific Coast Fisheries...
Q4.10: An adjustment for an accrual affects which of the following accounts? Q4.37: Pacific Coast Fisheries incurs fuel cost every month but is billed for the same in the following month. If the company pays the fuel bill in the billing month but recognizes the fuel cost as an expense in the month the fuel was consumed, it will be complying with the Chec Perform
Worksheet For the Month Ended March 31, 2019 Trial Balance Account Titles Dr. Cr. Cash 4,200...
Worksheet For the Month Ended March 31, 2019 Trial Balance Account Titles Dr. Cr. Cash 4,200 Accounts Receivable 2,800 Supplies 2,200 Equipment 10,560 Accumulated Depreciation-Equipment 1,200 Accounts Payable 2,600 Unearned Service Revenue 600 Common Stock 8,020 Retained Earnings 3,800 Dividends 1,100 Service Revenue 6,100 Salaries and Wages Expense 1,000 Miscellaneous Expense 460 22,320 22,320 Other data: 1. 2. 3. A physical count reveals only $400 of roofing supplies on hand. Depreciation for March is $240. Unearned service revenue amounted to...
Wiew Policies Show Attempt History Current Attempt in Progress Cheyenne Architects incorporated as licensed architects on...
Wiew Policies Show Attempt History Current Attempt in Progress Cheyenne Architects incorporated as licensed architects on April 1, 2022. During the first month of the operation of the business, these events and transactions occurred: Apr. 1 Stockholders invested $20,700 cash in exchange for common stock of the corporation 1 Hired a secretary-receptionist at a salary of $431 per week, payable monthly Paid office rent for the month $1,035. Purchased architectural supplies on account from Burmingham Company $1,495. Completed blueprints on...
Below are the transactions for Broncho Landscaping Masters, Inc. for the month of April 2019 This...
Below are the transactions for Broncho Landscaping Masters, Inc. for the month of April 2019 This is the company's first month of operation. Its owner is a retired University of Central Oklahoma professor who wants to launch a career on HGTV April 1-Invested $15,000 cash and an SUV valued at $45,000 to start Broncho Landscaping Masters, Inc. The business issued 10,000 shares of no-par common stock in exchange for these assets. April 3-Borrowed $50,000 from Last National Bank. The loan...
Below are the transactions for Broncho Landscaping Masters, Inc. for the month of April 2019. This...
Below are the transactions for Broncho Landscaping Masters, Inc. for the month of April 2019. This is the company's first month of operation. Its owner is a retired University of Central Oklahoma professor who wants to launch a career on HGTV April 1-Invested $15,000 cash and an SUV valued at $45,000 to start Broncho Landscaping Masters, Inc. The business issued 10,000 shares of no-par common stock in exchange for these assets. a. b. April 3--Borrowed $50,000 from Last National Bank....
Mona Kamaka, CPA, was retained by Marin Inc. to prepare financial statements for the month of...
Mona Kamaka, CPA, was retained by Marin Inc. to prepare financial statements for the month of March 2020. Mona accumulated all the ledger balances from the business records and found the following: Marin Inc. Trial Balance March 31, 2020 Credit Debit $8,060 3.920 1,010 16,800 Cash Accounts receivable Supplies Equipment Accumulated depreciation-equipment Accounts payable Salaries and wages payable Unearned revenue Common shares Retained earnings Service revenue Salaries and wages expense Advertising expense Utilities expense Depreciation expense Repairs and maintenance expense...
The following transactions occurred during March 2021 for the Wainwright Corporation. The company owns and operates...
The following transactions occurred during March 2021 for the Wainwright Corporation. The company owns and operates a wholesale warehouse. 1. Issued 45,000 shares of common stock in exchange for $450,000 in cash. 2. Purchased equipment at a cost of $55,000 $17,500 cash was paid and a notes payable to the seller was signed for the balance owed 3. Purchased inventory on account at a cost of $108,000. The company uses the perpetual inventory system. 4. Credit sales for the month...
Len Matthew started his own consulting firm, Matthew Consulting, on June 1, 2022. The trial balance...
Len Matthew started his own consulting firm, Matthew Consulting, on June 1, 2022. The trial balance at June 30 is as follows. MATTHEW CONSULTING Trial Balance June 30, 2022 Credit Debit $ 6,850 7.000 1,982 4.200 15.000 Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accounts Payable Unearned Service Revenue Common Stock Service Revenue Salaries and Wages Expense Rent Expense $4.260 5.200 21.982 8,300 4,000 710 $39.742 $39.742 In addition to those accounts listed on the trial balance, the chart of...
Debit Credit 54500 Accounts receivable 100 Supplies 590 $300 Accounts payable Unearned service revenue Common stock...
Debit Credit 54500 Accounts receivable 100 Supplies 590 $300 Accounts payable Unearned service revenue Common stock Retained earnings 3.100 56. 120 16.120 The company underwent a major expansion in July, New staff was hired and more facing was obtained Grouperconducted the following transactions during July 2022. and adjust counts monthly July 1 Purchased equipment paying $3.200 cash and signing a 2 year note payable for $17.200. The equipment has a 4-year useful . The note has a interest rate which...
I can't figure out adjusting journal entries and T acct Transaction List Sept. 1Purchased new office...
I can't figure out adjusting journal entries and T acct
Transaction List Sept. 1Purchased new office furniture of S6,000 by signing a one-year note payable with vendor. The stated interest rate is 10%. 2 Purchased 30 units of the new coffee table books from supplier, Art Image, on account for $14.50 each. Credit terms are 2/10, 1/30. Shipping terms are FOB Destination. Freight charges on this order amount to $35. 3 Was granted allowance from Art Image for 2 defective...
Q4.10: An adjustment for an accrual affects which of the following accounts? Q4.37: Pacific Coast Fisheries incurs fuel cost every month but is billed for the same in the following month. If the company pays the fuel bill in the billing month but recognizes the fuel cost as an expense in the month the fuel was consumed, it will be complying with the Chec Perform
Worksheet For the Month Ended March 31, 2019 Trial Balance Account Titles Dr. Cr. Cash 4,200 Accounts Receivable 2,800 Supplies 2,200 Equipment 10,560 Accumulated Depreciation-Equipment 1,200 Accounts Payable 2,600 Unearned Service Revenue 600 Common Stock 8,020 Retained Earnings 3,800 Dividends 1,100 Service Revenue 6,100 Salaries and Wages Expense 1,000 Miscellaneous Expense 460 22,320 22,320 Other data: 1. 2. 3. A physical count reveals only $400 of roofing supplies on hand. Depreciation for March is $240. Unearned service revenue amounted to...
Wiew Policies Show Attempt History Current Attempt in Progress Cheyenne Architects incorporated as licensed architects on April 1, 2022. During the first month of the operation of the business, these events and transactions occurred: Apr. 1 Stockholders invested $20,700 cash in exchange for common stock of the corporation 1 Hired a secretary-receptionist at a salary of $431 per week, payable monthly Paid office rent for the month $1,035. Purchased architectural supplies on account from Burmingham Company $1,495. Completed blueprints on...
Below are the transactions for Broncho Landscaping Masters, Inc. for the month of April 2019 This is the company's first month of operation. Its owner is a retired University of Central Oklahoma professor who wants to launch a career on HGTV April 1-Invested $15,000 cash and an SUV valued at $45,000 to start Broncho Landscaping Masters, Inc. The business issued 10,000 shares of no-par common stock in exchange for these assets. April 3-Borrowed $50,000 from Last National Bank. The loan...
Below are the transactions for Broncho Landscaping Masters, Inc. for the month of April 2019. This is the company's first month of operation. Its owner is a retired University of Central Oklahoma professor who wants to launch a career on HGTV April 1-Invested $15,000 cash and an SUV valued at $45,000 to start Broncho Landscaping Masters, Inc. The business issued 10,000 shares of no-par common stock in exchange for these assets. a. b. April 3--Borrowed $50,000 from Last National Bank....
Mona Kamaka, CPA, was retained by Marin Inc. to prepare financial statements for the month of March 2020. Mona accumulated all the ledger balances from the business records and found the following: Marin Inc. Trial Balance March 31, 2020 Credit Debit $8,060 3.920 1,010 16,800 Cash Accounts receivable Supplies Equipment Accumulated depreciation-equipment Accounts payable Salaries and wages payable Unearned revenue Common shares Retained earnings Service revenue Salaries and wages expense Advertising expense Utilities expense Depreciation expense Repairs and maintenance expense...
The following transactions occurred during March 2021 for the Wainwright Corporation. The company owns and operates a wholesale warehouse. 1. Issued 45,000 shares of common stock in exchange for $450,000 in cash. 2. Purchased equipment at a cost of $55,000 $17,500 cash was paid and a notes payable to the seller was signed for the balance owed 3. Purchased inventory on account at a cost of $108,000. The company uses the perpetual inventory system. 4. Credit sales for the month...
Len Matthew started his own consulting firm, Matthew Consulting, on June 1, 2022. The trial balance at June 30 is as follows. MATTHEW CONSULTING Trial Balance June 30, 2022 Credit Debit $ 6,850 7.000 1,982 4.200 15.000 Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accounts Payable Unearned Service Revenue Common Stock Service Revenue Salaries and Wages Expense Rent Expense $4.260 5.200 21.982 8,300 4,000 710 $39.742 $39.742 In addition to those accounts listed on the trial balance, the chart of...
Debit Credit 54500 Accounts receivable 100 Supplies 590 $300 Accounts payable Unearned service revenue Common stock Retained earnings 3.100 56. 120 16.120 The company underwent a major expansion in July, New staff was hired and more facing was obtained Grouperconducted the following transactions during July 2022. and adjust counts monthly July 1 Purchased equipment paying $3.200 cash and signing a 2 year note payable for $17.200. The equipment has a 4-year useful . The note has a interest rate which...
I can't figure out adjusting journal entries and T acct
Transaction List Sept. 1Purchased new office furniture of S6,000 by signing a one-year note payable with vendor. The stated interest rate is 10%. 2 Purchased 30 units of the new coffee table books from supplier, Art Image, on account for $14.50 each. Credit terms are 2/10, 1/30. Shipping terms are FOB Destination. Freight charges on this order amount to $35. 3 Was granted allowance from Art Image for 2 defective...
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