Answer: The correct answer is $72,000
Current Assets = Cash + Accounts Receivable + Prepaid
Insurance
Current Assets = $41,000 + $22,000 + $9,000
Current Assets = $72,000
Use the information in the adjusted trial balance presented below to calculate current assets for Wicked...
Use the information in the adjusted trial balance presented below to calculate current assets for Taron Company: Account Title Dr. Cr. Cash $ 41,000 22,000 9,000 Accounts receivable Prepaid insurance Equipment Accumulated depreciation-Equipment 160,000 $ 80,000 Land 101,000 Accounts payable Interest payable 23,000 3,900 6,800 Unearned revenue Long-term notes payable Retained earnings 48,000 171,300 Totals $333,000 $333,000 Multiple Choice $101,000. $72,000. $101,000. $72,000. $333,000. $23.000. $41,200.
Use the information in the adjusted trial balance presented below to calculate current assets for Wicked Wicker Company: points (8 01:52:43 Account Title Cash Accounts receivable Prepaid insurance Equipment Accumulated depreciation-Equipment Land Accounts payable Interest payable Unearned revenue Long-term notes payable Retained earnings Totals Dr. Cr. $ 77,000 34,000 13,800 280,000 $140,000 113,000 35,000 6,900 10,400 84,000 241,500 $517,800 $517,800 Multiple Choice 0 $41,200. 0 $124.800. 0 $113,000 0 $517,800
Use the information in the adjusted trial balance presented below to calculate the current ratio for Wicked Wicker Company: Cr. Dr. $ 50,000 25,000 10,200 190,000 points (8 01:53:57 $ 95,000 Account Title Cash Accounts receivable Prepaid insurance Equipment Accumulated depreciation-Equipment Land Accounts payable Interest payable Unearned revenue Long-term notes payable Retained earnings Totals 104,000 26,000 4,650 7,700 57,000 188,850 $379,200 O O O O
Use the information in the adjusted trial balance presented below to calculate current assets for Taron Company: Account Title Dr. Cr. Cash $ 65,000 Accounts receivable 30,000 Prepaid insurance 12,200 Equipment 240,000 Accumulated depreciation—Equipment $ 120,000 Land 109,000 Accounts payable 31,000 Interest payable 5,900 Unearned revenue 9,200 Long-term notes payable 72,000 Retained earnings 218,100 Totals $ 456,200 $ 456,200 Multiple Choice $41,200. $109,000. $107,200. $456,200. $31,000.
44) Use the information in the adjusted trial balance presented below to calculate total current liabilities for Taron Company: Cr Dr $ 23,000 16,000 6,600 100,000 $ 50,000 Account Title Cash Accounts receivable Prepaid insurance Equipment Accumulated depreciation - Equipment Land Accounts payable (due in 1 week) Interest payable (due in 1 month) Unearned revenue (service to be provided in 2 months) Long-term notes payable Z. Taron, Capital Totals 95,000 17,000 2,400 5,000 30,000 136,200 $ 240,600 $ 240,600 A)...
Use the information in the partial adjusted trail balance presented below to calculate the Acid Test (or Quick) ratio. Account Title Debit Credit Cash $23,000 Accounts receivable 16,000 Prepaid insurance 6,600 Equipment 100,000 Accumulated Depreciation - Equipment $50,000 Land 95,000 Accounts payable 17,000 Salaries payable 2,400 Unearned revenue (short term) 5,000 Long-term notes payable 30,000 Common stock 136,200 Totals $240,600 $240,600
MC Qu. 310 Use the information in the adjusted... Use the information in the adjusted trial balance presented below to calculate the current ratio for Taron Company: Cr. Dr. $ 80,000 35,000 14,200 290,000 $145,000 Account Title Cash Accounts receivable Prepaid insurance Equipment Accumulated depreciation Equipment Land Accounts payable Interest payable Unearned revenue Long-term notes payable Retained earnings Totals 114,000 36,000 7,150 10,700 87,000 247,350 $533,200 Multiple Choice O 0.42 Prev 2 of 19 !!! Next >
Data Table Michael's Bowling Alley's adjusted trial balance as of December 31, 2024, is presented bel E: (Click the icon to view the adjusted trial balance.) Read the requirements. Balance Michael's Bowling Alley Adjusted Trial Balance December 31, 2024 Account Title Debit Credit Balance Account Title Debit Credit Cash $ 15,500 2,400 Accounts Receivable Office Supplies 500 Prepaid Insurance 2,900 Land 15,000 115,000 $ 5,000 42,000 14,000 Building Accumulated Depreciation-Building Equipment Accumulated Depreciation Equipment Accounts Payable Utilities Payable Salaries Payable...
The December 31, 2021, adjusted trial balance for Fightin' Blue
Hens Corporation is presented below. AccountsDebitCreditCash$10,600Accounts Receivable136,000Prepaid Rent4,600Supplies23,000Equipment260,000Accumulated Depreciation$121,000Accounts Payable10,600Salaries Payable9,600Interest Payable3,600Notes Payable (due in two years)26,000Common Stock160,000Retained Earnings46,000Service Revenue360,000Salaries Expense260,000Rent Expense13,000Depreciation Expense26,000Interest Expense3,600Totals$736,800$736,800Prepare a classified balance sheet as of December 31, 2021.(Amounts to be deducted should be indicated by a minus
sign.)
The December 31, 2021, adjusted trial balance for Fightin' Blue
Hens Corporation is presented below.
Accounts
Debit
Credit
Cash
$
10,600
Accounts Receivable
136,000
Prepaid Rent
4,600
Supplies
23,000
Equipment
260,000
Accumulated Depreciation
$
121,000
Accounts Payable
10,600
Salaries Payable
9,600
Interest Payable
3,600
Notes Payable (due in two years)
26,000
Common Stock
160,000
Retained Earnings
46,000
Service Revenue
360,000
Salaries Expense
260,000
Rent Expense
13,000
Depreciation Expense
26,000
Interest Expense
3,600
Totals
$
736,800
$
736,800
Prepare an...