Homework Answers
Requirement:
| Date | General Journal | Debit | Credit |
| Aug,01 | Cash | $ 100,000 | |
| Mr.A ,capital | $ 100,000 | ||
| (To record investment by Mr.A) | |||
| Aug,05 | Supplies - Bikes | $ 50,000 | |
| Accounts payable- XYZ company | $ 50,000 | ||
| ( To record purchase of supplies) | |||
| Aug,07 | Cash | $ 10,000 | |
| Sales revenue | $ 10,000 | ||
| ( To record sales revenue) | |||
| Aug,12 | Furniture | $ 5,000 | |
| Cash | $ 5,000 | ||
| ( To record purchase of furniture) | |||
| Aug,15 | Cash | $ 20,000 | |
| Loan | $ 20,000 | ||
| ( To record loan) | |||
| Aug,20 | Account receivable | $ 15,000 | |
| Sales revenue | $ 15,000 | ||
| ( To record sales on account) | |||
| Aug,25 | Cash | $ 10,000 | |
| Service revenue | $ 10,000 | ||
| (To record service revenue) | |||
| Aug,26 | Accounts payable- XYZ company | $ 20,000 | |
| Cash | $ 20,000 | ||
| (To record payment to XYZ company) | |||
| Aug,28 | Cash | $ 10,000 | |
| Account receivable | $ 10,000 | ||
| ( To record collection of account receivable) | |||
| Aug,31 | Salaries expense | $ 1,500 | |
| Cash | $ 1,500 | ||
| (To record salaries expense) |
Add Answer to:
DRAFTING OF QUESTION FOR THE MONTH OF AUGUST 2020 MR.A STARTED A BUSINESS OF BIKES ,BUSINESS...
Create an Income Statement with this data: There is a 20% tax rate. CR DR 10000...
Create an Income Statement with this data:
There is a 20% tax rate.
CR DR 10000 15000 12000 25000 24000 12000 50000 100000 50000 120000 ооооо 200000 250000 50000 3000.00 750.00 25000 30XXXD 10000 15000 6000D 1000DD Cash Accounts Receivable Short-Term Marketable Securities Irwentory Prepaid Rent Prepaid Insurance Long-Term Marketable Securities Land Held for Future Use Debt Service Fund Land in Use Buildings Accumulated Depreciation - Buildings Machinery and Equipment Accumulated Depreciation - Mach and Equip Copper Mine Accumulated Depletion...
Please help with graph, thank you! This is a small business started by Alex Lopez in...
Please help with graph, thank you! This is a small business started by Alex Lopez in 1980. He was 22 years old, and had just graduated from UTSA with a degree in Business. As a young entrepreneur, he bought a greenhouse, and started a hydroponic farm growing tomatoes. Growing various vegetables in water was a new industry at that time. Alex’s business is operating in a perfectly competitive industry, competing with other greenhouse and field producers in the U.S. and...
Question 1 2 pts Crane Company has the following sales data: August September October November December...
Question 1 2 pts Crane Company has the following sales data: August September October November December Cash Sales $4000 $5000 $6000 $7000 $16000 Sales on Account $50000 $57,755 $65000 $71,288 $100000 Crane Company's credit customers have the following payment history: 38% in month of sale 59% in month following sale the rest are never collected What are budgeted cash receipts for September?
Bartowski Enterprises, Inc. Account balances as of the year ended 12/31/17 Accounts payable 22000 Accounts...
Bartowski Enterprises, Inc. Account balances as of the year ended 12/31/17 Accounts payable 22000 Accounts receivable 35000 Accumulated depreciation 45000 Advertising expense 6100 Cash 30000 Common stock 20000 Cost of goods sold 120000 Depreciation expense 2000 Dividends 40000 Equipment 100000 Insurance expense 4800 Interest expense 4000 Inventory 14600 Miscellaneous expense 1500 Note payable 50000 Payroll tax expense 5000 Payroll taxes payable 800 Prepaid insurance 2000 Rent expense 12000 Retained earnings, January 1 39500 Salaries expense 50000 Salaries payable 4000...
i need help on my retained earnings and income statement. i have a income tax rate...
i need help on my retained earnings and income statement. i
have a income tax rate of 20% and my RE ending has to be 361,000.
not sure what i am missing on my income statement
here are some updated pictures
We were unable to transcribe this imageWe were unable to transcribe this imageWe were unable to transcribe this image17000 75000 25000 117000 50000 150000 400000 Liabilities and Shareholders' Equity Current Liabilities: Accounts Payable Income Tax Payable t Payable Current...
In August 2020, Angela Martin started her new contracting business: Stair at Me Inc. The business...
In August 2020, Angela Martin started her new contracting business: Stair at Me Inc. The business focused on building staircases. The following transactions occurred during August: August 1 Angela invested $1,000 cash in exchange for 250 common shares. August 2 The company borrowed $5,000 in the form of a long-term bank loan. The money was planned to purchase much of the equipment that would be needed. August 5 Purchased equipment: $4,000. Paid $1,000 cash with the rest payable at the...
the template adjusted trail balance, prepare an Income Statement, Owner's Equity Statement, and CLASSIFIED Balance Sheet...
the template
adjusted trail balance, prepare an Income Statement, Owner's Equity Statement, and CLASSIFIED Balance Sheet for the month ended Dec. 31st. You may use the template provided or attach an excel spreadsheet with your solution. Trent Company Adjusted Trial Balance December 31 Account Debit Credit 12700 20000 15000 35000 Cash Accounts Receivable Prepaid Insurance Equipment Acc Depreciation Equipment Accounts Payable Unearned Revenue Notes Payable Trent, Capital Trent, Drawing Service Revenue Adversting Expense Depreciation Expense Salary Expense Insurance Expense Rent...
1 J , 13 Secunos, Question Completion Status: 10000 20000 5000 37000 Cash Accounts Receivable Supplies...
1 J , 13 Secunos, Question Completion Status: 10000 20000 5000 37000 Cash Accounts Receivable Supplies Land Accounts Payable Wages Payable Common Stock Retained Earnings Dividends Fees Earned Wages Expense Rent Expense 11000 3000 44000 7000 15000 35000 6000 7000 100000 100000 Prepare a statement of Retained Earnings to get the ending retained earnings. Don't forget you have to do an income statement before you can do the statement of retained earnings. Negative ($8000) $14,000 $7000 None of the above...
Date General Journal Debit Credit Aug,01 Cash $ 100,000 Mr.A ,capital $ 100,000 (To record investment...
Date
General Journal
Debit
Credit
Aug,01
Cash
$ 100,000
Mr.A ,capital
$ 100,000
(To record investment by Mr.A)
Aug,05
Supplies - Bikes
$ 50,000
Accounts payable- XYZ company
$ 50,000
( To record purchase of supplies)
Aug,07
Cash
$ 10,000
Sales revenue
$ 10,000
( To record sales revenue)
Aug,12
Furniture
$ 5,000
Cash
$ 5,000
( To record purchase of furniture)
Aug,15
Cash
$ 20,000
Loan
$ 20,000
( To record loan)
Aug,20
Account receivable
$ 15,000
Sales revenue...
Journalize the adjusting entries on August 31 for the 3-month period June 1–August 31. (Round answers...
Journalize the adjusting entries on August 31 for the 3-month
period June 1–August 31. (Round answers to the nearest
whole dollar, e.g. 5,275. Credit account titles are automatically
indented when the amount is entered. Do not indent manually. If no
entry is required, select "No entry" for the account titles and
enter 0 for the amounts.)
Blossom Resort opened for business on June 1 with eight air-conditioned units. Its trial balance on August 31 is as follows. Credit BLOSSOM RESORT...
Create an Income Statement with this data:
There is a 20% tax rate.
CR DR 10000 15000 12000 25000 24000 12000 50000 100000 50000 120000 ооооо 200000 250000 50000 3000.00 750.00 25000 30XXXD 10000 15000 6000D 1000DD Cash Accounts Receivable Short-Term Marketable Securities Irwentory Prepaid Rent Prepaid Insurance Long-Term Marketable Securities Land Held for Future Use Debt Service Fund Land in Use Buildings Accumulated Depreciation - Buildings Machinery and Equipment Accumulated Depreciation - Mach and Equip Copper Mine Accumulated Depletion...
Question 1 2 pts Crane Company has the following sales data: August September October November December Cash Sales $4000 $5000 $6000 $7000 $16000 Sales on Account $50000 $57,755 $65000 $71,288 $100000 Crane Company's credit customers have the following payment history: 38% in month of sale 59% in month following sale the rest are never collected What are budgeted cash receipts for September?
i need help on my retained earnings and income statement. i
have a income tax rate of 20% and my RE ending has to be 361,000.
not sure what i am missing on my income statement
here are some updated pictures
We were unable to transcribe this imageWe were unable to transcribe this imageWe were unable to transcribe this image17000 75000 25000 117000 50000 150000 400000 Liabilities and Shareholders' Equity Current Liabilities: Accounts Payable Income Tax Payable t Payable Current...
the template
adjusted trail balance, prepare an Income Statement, Owner's Equity Statement, and CLASSIFIED Balance Sheet for the month ended Dec. 31st. You may use the template provided or attach an excel spreadsheet with your solution. Trent Company Adjusted Trial Balance December 31 Account Debit Credit 12700 20000 15000 35000 Cash Accounts Receivable Prepaid Insurance Equipment Acc Depreciation Equipment Accounts Payable Unearned Revenue Notes Payable Trent, Capital Trent, Drawing Service Revenue Adversting Expense Depreciation Expense Salary Expense Insurance Expense Rent...
1 J , 13 Secunos, Question Completion Status: 10000 20000 5000 37000 Cash Accounts Receivable Supplies Land Accounts Payable Wages Payable Common Stock Retained Earnings Dividends Fees Earned Wages Expense Rent Expense 11000 3000 44000 7000 15000 35000 6000 7000 100000 100000 Prepare a statement of Retained Earnings to get the ending retained earnings. Don't forget you have to do an income statement before you can do the statement of retained earnings. Negative ($8000) $14,000 $7000 None of the above...
Date
General Journal
Debit
Credit
Aug,01
Cash
$ 100,000
Mr.A ,capital
$ 100,000
(To record investment by Mr.A)
Aug,05
Supplies - Bikes
$ 50,000
Accounts payable- XYZ company
$ 50,000
( To record purchase of supplies)
Aug,07
Cash
$ 10,000
Sales revenue
$ 10,000
( To record sales revenue)
Aug,12
Furniture
$ 5,000
Cash
$ 5,000
( To record purchase of furniture)
Aug,15
Cash
$ 20,000
Loan
$ 20,000
( To record loan)
Aug,20
Account receivable
$ 15,000
Sales revenue...
Journalize the adjusting entries on August 31 for the 3-month
period June 1–August 31. (Round answers to the nearest
whole dollar, e.g. 5,275. Credit account titles are automatically
indented when the amount is entered. Do not indent manually. If no
entry is required, select "No entry" for the account titles and
enter 0 for the amounts.)
Blossom Resort opened for business on June 1 with eight air-conditioned units. Its trial balance on August 31 is as follows. Credit BLOSSOM RESORT...
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