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Computation of Total Expenses in a Single step Income Statement
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Ortiz Co, had the following account balances: Sales revenue $ 440.000 Cost of goods sold 220,000...
Ortiz Co. had the following account balances: Sales revenue &nb
Ortiz Co. had the following account balances: Sales revenue $ 440,000 Cost of goods sold 220,000 Salaries and wages expense 30,000 Depreciation expense 60,000 Dividend revenue 12,000 Utilities expense 24,000 Rent revenue 60,000 Interest expense 36,000 Sales returns and allow. 33,000 Advertising expense 39,000 What would Ortiz report as total expenses in a single-step income statement?
Wildhorse company had the following account balances sales revenue 444000 cost of goods sold 217000 salary...
Wildhorse company had the following account balances sales revenue 444000 cost of goods sold 217000 salary and wages expense 25500 depreciation expense 63500 dividend revenue 11200 utility expense 24000 rent revenue 59600 interests expense 36800 ssles returns and allowances 32800 advertising expense 38500 what would wildhorse report as total revenue in a single step income statement
1. The following revenue and expense account balances were taken from the Income Statement columns of...
1. The following revenue and expense account balances were taken from the Income Statement columns of the end-of-period spreadsheet for Fraser Services Co. for December 31: $4,950 2,900 1,200 Depreciation Expense Insurance Expense Miscellaneous Expense Rent Expense Service Revenue Supplies Expense Utilities Expense Wages Expense 24,000 92,500 3,150 5,000 63,750 Prepare an income statement. 2. The following data were taken from the Adjusted Trial Balance columns of the end-of-period spreadsheet for April 30 for Abigail Trucking: $42,600 83,400 28,000 Accounts...
QUESTION 2 Part A Pureen Berhad had the following Adjusted Trial Balance as at 31 December...
QUESTION 2 Part A Pureen Berhad had the following Adjusted Trial Balance as at 31 December 2018. PUREEN BERHAD Adjusted Trial Balance As at 31 December 2018 Credits (RM) Debits (RM) 600,000 382,000 750,000 Account Titles Cash Accounts Receivable Machinery Accounts Payable Accumulated Depreciation-Equip. Share Capital - Ordinary Retained Earnings (1 January) 230,000 24,000 500,000 150,000 Dividends 60,000 545,000 240,000 300,000 Service Revenue Unearned Rent Revenue Rent Revenue Salaries and Wages Expense Depreciation Expense Commission Expense Insurance Expense Advertising Expense...
9. At March 31, account balances after adjustments for Wide Screen are as follows: Account Balances...
9. At March 31, account balances after adjustments for Wide Screen are as follows: Account Balances (After Adjustment) Accounts Cash $ 11,000 Supplies 4,000 Equipment 50,000 Accumulated Depreciation-Equipment 12,000 Accounts Payable 5,000 Owner's, Capital 20,000 Owner's, Drawings 8,000 Ticket Revenue 59,000 Service Revenue Advertising Expense 55,000 Supplies Expense 18,800 Depreciation Expense 17,000 Rent Expense 4,000 Salaries and Wages Expense 26,000 Utilities Expense 24,000 5,200 Instructions Prepare the closing journal entries for Wide Screen. (20 pts) 10
need help solving On January 1, 2018, Dakota, Inc., had the following account balances in its...
need help solving
On January 1, 2018, Dakota, Inc., had the following account balances in its general ledger. All accounts have a "normal" type of balance, i.e., a debitor credit balance, depending on the type of acc Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation Accounts Payable Interest Payable Utilities Payable Unearned Revenue Notes Payable Owner Capital Withdrawals Service Revenue Rent Expense Salaries Expense Insurance Expense Supplies Expense Utilities Expense Depreciation Expense Interest Expense $255,000 160,000 60,000 0 550,000...
What are the adjusting journal entries for the 11 listed adjustments? The following account balances are...
What are the adjusting journal entries for the 11 listed
adjustments?
The following account balances are provided for Privy Piping, Inc. The results are for the month ending July 31, 2019. $ 21,460 359,000 96,740 2,350 150,000 172,100 325,000 241,850 750 120 300 Accounts payable Accounts receivable Accumulated depreciation Advertising expense Bank loan Cash Common stock Furniture and fixtures Interest payable Interest receivable Interest revenue Investments Loss on sale of equipment Parts and supplies Prepaid rent Rent expense Retained earnings...
DB 3.6-Closing Entries Serena Corp. has year-end account balances as follows: Sales Interest Revenue Cost of...
DB 3.6-Closing Entries Serena Corp. has year-end account balances as follows: Sales Interest Revenue Cost of Goods Sold Salaries and Wages Expense Depreciation Expense Advertising Expense Utilities Expense Insurance Expense Income Tax Expense Dividends $808,900 13,500 556,200 100,000 30,000 25,000 15,000 14,000 40,100 18,900 Required: Prepare closing entries in proper journal entry form) for Serena Corp. on December 31st. (Note: Our textbook discuss closing entries and provides examples on p. 31-32 of Chapter 3.)
The ledger of Walters Company includes the following unadjusted balances: Prepaid Insurance $3,000, Service Revenue $60,000,...
The ledger of Walters Company includes the following unadjusted
balances: Prepaid Insurance $3,000, Service Revenue $60,000, and
Salaries and Wages Expense $25,000. Adjusting entries are required
for (a) expired insurance $1,800, (b) services performed $1,100 are
billed and not yet collected, and (c) accrued salaries payable
$900.
The ledger of Walters Company includes the following unadjusted balances: Prepaid Insurance $3,000, Service Revenue $60,000, and Salaries and Wages Expense $25,000. Adjusting entries are required for (a) expired insurance $1,800, (b) services...
The following revenue and expense account balances were taken from the ledger of Wholistic Health Services...
The following revenue and expense account balances were taken from the ledger of Wholistic Health Services Co. after the accounts had been adjusted on February 28, 2019, the end of the fiscal year: Depreciation Expense$7,600 Insurance Expense3,000 Miscellaneous Expense8,850 Rent Expense62,000 Service Revenue447,400 Supplies Expense2,500 Utilities Expense33,900 Wages Expense350,000 CHART OF ACCOUNTS Wholistic Health Services Co. General Ledger ASSETS 11 Cash 12 Accounts Receivable 13 Supplies 14 Prepaid Insurance 15 Office Equipment 16 Building 17 Accumulated Depreciation LIABILITIES 21 Accounts...
1. The following revenue and expense account balances were taken from the Income Statement columns of the end-of-period spreadsheet for Fraser Services Co. for December 31: $4,950 2,900 1,200 Depreciation Expense Insurance Expense Miscellaneous Expense Rent Expense Service Revenue Supplies Expense Utilities Expense Wages Expense 24,000 92,500 3,150 5,000 63,750 Prepare an income statement. 2. The following data were taken from the Adjusted Trial Balance columns of the end-of-period spreadsheet for April 30 for Abigail Trucking: $42,600 83,400 28,000 Accounts...
QUESTION 2 Part A Pureen Berhad had the following Adjusted Trial Balance as at 31 December 2018. PUREEN BERHAD Adjusted Trial Balance As at 31 December 2018 Credits (RM) Debits (RM) 600,000 382,000 750,000 Account Titles Cash Accounts Receivable Machinery Accounts Payable Accumulated Depreciation-Equip. Share Capital - Ordinary Retained Earnings (1 January) 230,000 24,000 500,000 150,000 Dividends 60,000 545,000 240,000 300,000 Service Revenue Unearned Rent Revenue Rent Revenue Salaries and Wages Expense Depreciation Expense Commission Expense Insurance Expense Advertising Expense...
9. At March 31, account balances after adjustments for Wide Screen are as follows: Account Balances (After Adjustment) Accounts Cash $ 11,000 Supplies 4,000 Equipment 50,000 Accumulated Depreciation-Equipment 12,000 Accounts Payable 5,000 Owner's, Capital 20,000 Owner's, Drawings 8,000 Ticket Revenue 59,000 Service Revenue Advertising Expense 55,000 Supplies Expense 18,800 Depreciation Expense 17,000 Rent Expense 4,000 Salaries and Wages Expense 26,000 Utilities Expense 24,000 5,200 Instructions Prepare the closing journal entries for Wide Screen. (20 pts) 10
need help solving
On January 1, 2018, Dakota, Inc., had the following account balances in its general ledger. All accounts have a "normal" type of balance, i.e., a debitor credit balance, depending on the type of acc Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation Accounts Payable Interest Payable Utilities Payable Unearned Revenue Notes Payable Owner Capital Withdrawals Service Revenue Rent Expense Salaries Expense Insurance Expense Supplies Expense Utilities Expense Depreciation Expense Interest Expense $255,000 160,000 60,000 0 550,000...
What are the adjusting journal entries for the 11 listed
adjustments?
The following account balances are provided for Privy Piping, Inc. The results are for the month ending July 31, 2019. $ 21,460 359,000 96,740 2,350 150,000 172,100 325,000 241,850 750 120 300 Accounts payable Accounts receivable Accumulated depreciation Advertising expense Bank loan Cash Common stock Furniture and fixtures Interest payable Interest receivable Interest revenue Investments Loss on sale of equipment Parts and supplies Prepaid rent Rent expense Retained earnings...
DB 3.6-Closing Entries Serena Corp. has year-end account balances as follows: Sales Interest Revenue Cost of Goods Sold Salaries and Wages Expense Depreciation Expense Advertising Expense Utilities Expense Insurance Expense Income Tax Expense Dividends $808,900 13,500 556,200 100,000 30,000 25,000 15,000 14,000 40,100 18,900 Required: Prepare closing entries in proper journal entry form) for Serena Corp. on December 31st. (Note: Our textbook discuss closing entries and provides examples on p. 31-32 of Chapter 3.)
The ledger of Walters Company includes the following unadjusted
balances: Prepaid Insurance $3,000, Service Revenue $60,000, and
Salaries and Wages Expense $25,000. Adjusting entries are required
for (a) expired insurance $1,800, (b) services performed $1,100 are
billed and not yet collected, and (c) accrued salaries payable
$900.
The ledger of Walters Company includes the following unadjusted balances: Prepaid Insurance $3,000, Service Revenue $60,000, and Salaries and Wages Expense $25,000. Adjusting entries are required for (a) expired insurance $1,800, (b) services...
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