Homework Answers
| Accounts would be reported on balance sheet |
| Cash |
| Merchandise Inventory |
| Common Stock |
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Use the following account numbers and corresponding account titles to answer the following question. Account Number...
The following account titles and balances were taken from the adjusted trial balance of King Co....
The following account titles and balances were taken from the adjusted trial balance of King Co. for 2018. The company uses the periodic inventory system. Account Title Sales returns and allowances Miscellaneous expense Transportation-out Sales Advertising expense Salaries expense Transportation-in Purchases Interest expense Merchandise inventory, January 1 Rent expense Merchandise inventory, December 31 Purchase returns and allowances Loss on sale of land Utilities expense Balance $ 4,100 800 3,100 161,000 7,100 22,200 3,250 91,000 400 13,200 9,100 11,300 3,100 4,100...
Company reported the following account balances at December 31, 2026: Utilities Expense $33,000 Inventory $47,000 Unearned...
Company reported the following account balances at December 31, 2026: Utilities Expense $33,000 Inventory $47,000 Unearned Revenue $35,000 Retained Earnings $52,000 (at January 1, 2026) Income Tax Expense $24,000 Accounts Payable $51,000 Cost of Goods Sold $38,000 Cash $21,000 Utilities Payable $19,000 Common Stock $71,000 Building $74,000 Service Revenue $55,000 Accounts Receivable $69,000 Equipment $61,000 Sales Revenue $96,000 Dividends $17,000 Patent $42,000 Notes Payable $88,000 Loss on Sale of Land $26,000 Supplies $15,000 Calculate : gross profit reported by Company...
THE Company reported the following account balances at December 31, 2026: |||Utilities Expense $33,000||| |||Inventory $47,000|||...
THE Company reported the following account balances at December 31, 2026: |||Utilities Expense $33,000||| |||Inventory $47,000||| |||Unearned Revenue $35,000||| |||Retained Earnings $52,000||| (at January 1, 2026) |||Income Tax Expense $24,000||| |||Accounts Payable $51,000||| |||Cost of Goods Sold $38,000||| |||Cash $21,000||| |||Utilities Payable $19,000||| |||Common Stock $71,000||| |||Building $74,000||| |||Service Revenue $55,000||| |||Accounts Receivable $69,000||| |||Equipment $61,000||| |||Sales Revenue $96,000||| |||Dividends $17,000||| |||Patent $42,000||| |||Notes Payable $88,000||| |||Loss on Sale of Land $26,000||| |||Supplies $15,000||| Calculate the amount of gross profit...
The following account titles were drawn from the general ledger of Holt Food Supplies, Incorporated (HFSI):...
The following account titles were drawn from the general ledger of Holt Food Supplies, Incorporated (HFSI): Computers, Operating Expenses, Rent Revenue, Building, Cash, Notes Payable, Land, Utilities Payable, Utilities Expense, Trucks, Gasoline Expense, Retained Earnings, Supplies, Accounts Payable, Office Furniture, Salaries Expense, Common Stock, Service Revenue, Interest Expense, Dividends, Supplies Expense. Required a. List each account title under the element of the accounting equation to which it belongs.
Using the account titles listed below, create these financial statements for EXAMPLE COMPANY for the year...
Using the account titles listed below, create these financial statements for EXAMPLE COMPANY for the year ended December 31, XXXX: income statement, statement of retained earnings, and balance sheet. Please prepare your answers in a spreadsheet that you create, using proper spreadsheet techniques. You don't need to add numbers. Account Title Account Payable Account Receivable Accumulated Depreciation - Building Accumulated Depreciation - Office Equipment Accumulated Depreciation - Store Fixtures Administration Salaries Expense Advertising expense Allowance for Doubtful Accounts Beginning Retained...
I have been provided with the following list of account titles. I need to create an...
I have been provided with the following list of account titles.
I need to create an income statement, a
statement of retained earnings, and a
balance sheet using all of the account
titles from the list (provided in the photos below). There
does not need to be any money amounts, and there is no specific
company. The purpose is just to make correctly formatted financial
statements with their correct accounts. (Ex: Cash, Accounts
Receivable, Inventory on a Balance Sheet, and...
Can you make a balance sheet using the following information: General Ledger Accounts Title Debit Credit Cash 468,236,1...
Can you make a balance sheet using the following
information:
General Ledger Accounts Title Debit Credit Cash 468,236,170 Accounts Receivable 47,294,000 Allowance for Bad Debts 1,181,880 Inventory 13,556,530 Notes Receivable 400,000 Accumulated Depreciation 74,937,000 Equipment 114,940,000 Buildings 1,000,000 Land 2,914,300 Patents 180,000 Accumulated Amortization 53,000 Interest Receivable 4,666 Prepaid Insurance Expense Accounts Payable 10,000 95,550,000 Unearned Rent Revenue Common Stock 120,006,500 APIC-Common Stock 266,266,500 Retained Earnings 73,230,000 65,421,000 10,000 Sales Revenue Rent Revenue 4,666 Interest Revenue Loss on Sale of...
TY-9c Company reported the following account balances at December 31, 2026: Utilities Expense $33,000 Inventory $47,000...
TY-9c Company reported the following account balances at December 31, 2026: Utilities Expense $33,000 Inventory $47,000 Unearned Revenue $35,000 Retained Earnings $52,000 (at January 1, 2026) Income Tax Expense $24,000 Accounts Payable $51,000 Cost of Goods Sold $38,000 Cash $21,000 Utilities Payable $19,000 Common Stock $71,000 Building $74,000 Service Revenue $55,000 Accounts Receivable $69,000 Equipment $61,000 Sales Revenue $96,000 Dividends $17,000 Patent $42,000 Notes Payable $88,000 Loss on Sale of Land $26,000 Supplies $15,000 Calculate the amount of gross profit...
TY-9c Company reported the following account balances at December 31, 2026: Utilities Expense $33,000 Inventory $47,000...
TY-9c Company reported the following account balances at December 31, 2026: Utilities Expense $33,000 Inventory $47,000 Unearned Revenue $35,000 Retained Earnings $52,000 (at January 1, 2026) Income Tax Expense $24,000 Accounts Payable $51,000 Cost of Goods Sold $38,000 Cash $21,000 Utilities Payable $19,000 Common Stock $71,000 Building $74,000 Service Revenue $55,000 Accounts Receivable $69,000 Equipment $61,000 Sales Revenue $96,000 Dividends $17,000 Patent $42,000 Notes Payable $88,000 Loss on Sale of Land $26,000 Supplies $15,000 The retained earnings balance at December...
On December 31, Harris Company had the following adjusted trial balance: Account Titles Debit Credit Cash...
On December 31, Harris Company had the following adjusted trial balance: Account Titles Debit Credit Cash 11,580 9,370 5,250 42,200 Accounts Receivable Prepaid Rent Equipment Accumulated Depreciation Accounts Payable Capital Stock Retained Earnings Dividends Sales 8,000 28,740 20,500 22,800 15,900 70,100 Sales Discounts Sales Returns and Allowances Cost of Goods Sold Selling Expenses General and Administrative Expenses 640 2,140 42,060 10,300 10,700 150,140150,140 Required Prepare the second closing entry to close the expense accounts and contra-revenue accounts to Income Summary...
The following account titles and balances were taken from the adjusted trial balance of King Co. for 2018. The company uses the periodic inventory system. Account Title Sales returns and allowances Miscellaneous expense Transportation-out Sales Advertising expense Salaries expense Transportation-in Purchases Interest expense Merchandise inventory, January 1 Rent expense Merchandise inventory, December 31 Purchase returns and allowances Loss on sale of land Utilities expense Balance $ 4,100 800 3,100 161,000 7,100 22,200 3,250 91,000 400 13,200 9,100 11,300 3,100 4,100...
I have been provided with the following list of account titles.
I need to create an income statement, a
statement of retained earnings, and a
balance sheet using all of the account
titles from the list (provided in the photos below). There
does not need to be any money amounts, and there is no specific
company. The purpose is just to make correctly formatted financial
statements with their correct accounts. (Ex: Cash, Accounts
Receivable, Inventory on a Balance Sheet, and...
Can you make a balance sheet using the following
information:
General Ledger Accounts Title Debit Credit Cash 468,236,170 Accounts Receivable 47,294,000 Allowance for Bad Debts 1,181,880 Inventory 13,556,530 Notes Receivable 400,000 Accumulated Depreciation 74,937,000 Equipment 114,940,000 Buildings 1,000,000 Land 2,914,300 Patents 180,000 Accumulated Amortization 53,000 Interest Receivable 4,666 Prepaid Insurance Expense Accounts Payable 10,000 95,550,000 Unearned Rent Revenue Common Stock 120,006,500 APIC-Common Stock 266,266,500 Retained Earnings 73,230,000 65,421,000 10,000 Sales Revenue Rent Revenue 4,666 Interest Revenue Loss on Sale of...
On December 31, Harris Company had the following adjusted trial balance: Account Titles Debit Credit Cash 11,580 9,370 5,250 42,200 Accounts Receivable Prepaid Rent Equipment Accumulated Depreciation Accounts Payable Capital Stock Retained Earnings Dividends Sales 8,000 28,740 20,500 22,800 15,900 70,100 Sales Discounts Sales Returns and Allowances Cost of Goods Sold Selling Expenses General and Administrative Expenses 640 2,140 42,060 10,300 10,700 150,140150,140 Required Prepare the second closing entry to close the expense accounts and contra-revenue accounts to Income Summary...
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