Homework Answers
Your required answer is option B i.e. $6,600
Explanation:
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Common Stock Depreciation Expense Dividends Fees Earned Insurance Expense Miscellaneous Expense Prepaid Insurance Expense Rent Expense...
Centre Construction Company Adjusted Trial Balance December 31, 2020 US Dollar Debit Credit $ 59.400 $...
Centre Construction Company Adjusted Trial Balance December 31, 2020 US Dollar Debit Credit $ 59.400 $ 27,000 $ 405,000 $ 129,600 $ 850,000 $ 180,900 $ 400,000 $ 121,500 $ 25,000 $ 230,000 $ 875,000 $ 43,200 $ 108,000 Accounts Payable Accounts Receivable Accumulated Depreciation - Building Accumulated Depreciation - Equipment Building Cash Common Stock Depreciation Expense Dividends Equipment Fees Earned Interest Expense Insurance Expense Interest Payable Land Miscellaneous Expense Notes Payable Prepaid Insurance Expense Rent Expense Retained Earnings Sales...
July 31 Fees Earned 21,200 Wages Expense Office Rent Expense 2,940 2,550 1,375 Equipment Rent Expense...
July 31 Fees Earned 21,200 Wages Expense Office Rent Expense 2,940 2,550 1,375 Equipment Rent Expense Utilities Expense 1,215 Music Expense 3,610 Advertising Expense 1,500 Supplies Expense 925 Insurance Expense 225 Depreciation Expense 50 Miscellaneous Expense 1,855 Peyton Smith, Capital 4,955 DATE ACCOUNT POST. REF. DEBIT CREDIT July 31 Peyton Smith, Capital 1,750 Peyton Smith, Drawing 1,750 PS Music Post-Closing Trial Balance July 31, 2019 Debit Balances Credit Balances Cash Accounts Receivable Supplies Prepaid Insurance Office Equipment Accumulated Depreciation Office...
Accounts $33,500 Payable Accounts 67,050 Receivable Cash Common 126,550 Stock Dividends 35,000 Fees Earned 558,700 Insurance...
Accounts $33,500 Payable Accounts 67,050 Receivable Cash Common 126,550 Stock Dividends 35,000 Fees Earned 558,700 Insurance 10,600 Expense Land 153,100 Miscellaneous 15,650 Expense Notes 73,000 Payable Prepaid 5,050 Insurance Rent Expense 106,200 Retained 29,900 Earnings Supplies 3,350 Supplies 13,950 Expense Unearned 15,200 Rent Utilities 74,850 Expense Wages 312,850 Expense a. Prepare an unadjusted trial balance. List all the accounts in the order of Assets, Liabilities, Stockholders' equity, Revenues, and Expenses. Place the amounts in the proper columns. If an entry...
nse Common Stock Cash Dividends Service Revenue Land Miscellaneous Expense...
nse Common Stock Cash Dividends Service Revenue Land Miscellaneous Expense Supplies Supplies Expense Wages Expense Points: Feedback Check My Work Explanation none X Financial Statements A business will construct its financial statements in a particular order because they are interrelated. This means that items formulated in an earlier statement feed into the subsequent statements, and changes to items on one financial statement can have compounding effects on the overall financial position of a company. Which of the following is one...
Accounts payable Accounts receivable Accumulated depreciation, equipment Cash Common stock Depreciation expense, equipment Dividends Equipment Insurance...
Accounts payable Accounts receivable Accumulated depreciation, equipment Cash Common stock Depreciation expense, equipment Dividends Equipment Insurance expense Prepaid insurance Retained earnings Salaries expense Salaries payable Service revenue Supplies Supplies expense Unearned service revenue Utilities expense Data Table The trial balanoe of Lusch Landscaping, Ina, at June 3D, 2016, and the data nended for the month-end adjustments fallaw EEE (Click the icon to view the trial balance.) Read the requ rements (Cick the icon to view the adjustment data.) Lusch Landscaping....
What is the drawing, fees earned, wages expense, rent expense, & utilities expense? 32 | Balance...
What is the drawing,
fees earned, wages expense, rent expense, & utilities
expense?
32 | Balance Kris Storey, Drawing Date Item 2019 June Post Ref. Dr. Cr. Dr. Cr. Fees Earned 41 Post _ Dr. Balance 4 Cr. Item Ref. Cr. Dr. Date 2019 June Wages Expense Enter as a formula calling on amounts in the trial balance. Dr. 51 Balance Dr. Cr. Item cr. Date 2019 June Rent Expense 53 Post Balance Item Ref. Dr. Cr. Dr. Balance Cr....
100 Cash at bank 110 Accounts receivable 120 Inventory 130 Prepaid insurance 171 Shop equipment (cost)...
100
Cash at bank
110
Accounts receivable
120
Inventory
130
Prepaid insurance
171
Shop equipment (cost)
172
Accumulated depreciation - shop equipment
200
Accounts payable
210
PAYG withholding payable
220
Superannuation payable
230
Bank loan
300
Capital
310
Drawings
320
Profit or loss summary
400
Sales revenue
410
Sales returns and allowances
420
Discount received
500
Cost of sales
600
Advertising expense
610
Depreciation expense
620
Discount allowed
630
Electricity expense
640
Insurance expense
650
Interest expense
660
Postage and...
PR 6-10A Periodic Inventory Accounts, Multiple-Step Income Statement, Closing Entries the Journalize the periodic inventory system...
PR 6-10A Periodic Inventory Accounts, Multiple-Step Income
Statement, Closing Entries
the Journalize the periodic inventory system Appendix PR 6-9A Sales-related and purchase-related transactions for buyer and seller using periodic inventory system Selected transactions during August between Summit Company and Beartooth Co. are listed in Problem 64A. Instructions Journalize the entries to record the transactions for (1) Summit Company and (2) Beartooth Co., assuming that both companies use the periodic inventory system. Appendix PR 6-10A Periodic inventory accounts, multiple-step income statement,...
Instructions On December 31, 2045, the balances of the accounts appearing in the ledger of Wyman...
Instructions On December 31, 2045, the balances of the accounts appearing in the ledger of Wyman Company are as follows: Cash Accounts receivable Inventory, January 1, 2045 Estimated returns inventory, January 1, 2045 Office supplies Prepaid insurance Land Store equipment Accumulated depreciation-store equipment Office equipment Accumulated depreciation-office equipment Accounts payable Salaries payable Customer refunds payable Unearned rent Notes payable Common stock Retained earnings Dividends Sales $13,500 72,000 257,000 35,000 3,000 4,500 150,000 270,000 55.900 78,500 16,000 77,800 3,000 50.000 8,300...
Ch 1 1. Given the following dat Dec 31 Year 2 Dec 31 Year 1 Total...
Ch 1 1. Given the following dat Dec 31 Year 2 Dec 31 Year 1 Total liabilities S128,250 $120,000 Total stockholders oquity 95.000 80.000 compute the ratio of liabilities to stockholders' equity for each year Round to two decimal places 1.50 and 107, 11.35 and 1.50 respectively respectively 1.07 and 1.19. 1.1.19 and 1.35 respectively respectively The liabilities and stockholder's equity of a company are $132,000 and $244.000, respectively. Assets should equal SS188.00 $132.00 p $376,00 12.000 A financial statement...
Centre Construction Company Adjusted Trial Balance December 31, 2020 US Dollar Debit Credit $ 59.400 $ 27,000 $ 405,000 $ 129,600 $ 850,000 $ 180,900 $ 400,000 $ 121,500 $ 25,000 $ 230,000 $ 875,000 $ 43,200 $ 108,000 Accounts Payable Accounts Receivable Accumulated Depreciation - Building Accumulated Depreciation - Equipment Building Cash Common Stock Depreciation Expense Dividends Equipment Fees Earned Interest Expense Insurance Expense Interest Payable Land Miscellaneous Expense Notes Payable Prepaid Insurance Expense Rent Expense Retained Earnings Sales...
July 31 Fees Earned 21,200 Wages Expense Office Rent Expense 2,940 2,550 1,375 Equipment Rent Expense Utilities Expense 1,215 Music Expense 3,610 Advertising Expense 1,500 Supplies Expense 925 Insurance Expense 225 Depreciation Expense 50 Miscellaneous Expense 1,855 Peyton Smith, Capital 4,955 DATE ACCOUNT POST. REF. DEBIT CREDIT July 31 Peyton Smith, Capital 1,750 Peyton Smith, Drawing 1,750 PS Music Post-Closing Trial Balance July 31, 2019 Debit Balances Credit Balances Cash Accounts Receivable Supplies Prepaid Insurance Office Equipment Accumulated Depreciation Office...
Accounts $33,500 Payable Accounts 67,050 Receivable Cash Common 126,550 Stock Dividends 35,000 Fees Earned 558,700 Insurance 10,600 Expense Land 153,100 Miscellaneous 15,650 Expense Notes 73,000 Payable Prepaid 5,050 Insurance Rent Expense 106,200 Retained 29,900 Earnings Supplies 3,350 Supplies 13,950 Expense Unearned 15,200 Rent Utilities 74,850 Expense Wages 312,850 Expense a. Prepare an unadjusted trial balance. List all the accounts in the order of Assets, Liabilities, Stockholders' equity, Revenues, and Expenses. Place the amounts in the proper columns. If an entry...
Accounts payable Accounts receivable Accumulated depreciation, equipment Cash Common stock Depreciation expense, equipment Dividends Equipment Insurance expense Prepaid insurance Retained earnings Salaries expense Salaries payable Service revenue Supplies Supplies expense Unearned service revenue Utilities expense Data Table The trial balanoe of Lusch Landscaping, Ina, at June 3D, 2016, and the data nended for the month-end adjustments fallaw EEE (Click the icon to view the trial balance.) Read the requ rements (Cick the icon to view the adjustment data.) Lusch Landscaping....
What is the drawing,
fees earned, wages expense, rent expense, & utilities
expense?
32 | Balance Kris Storey, Drawing Date Item 2019 June Post Ref. Dr. Cr. Dr. Cr. Fees Earned 41 Post _ Dr. Balance 4 Cr. Item Ref. Cr. Dr. Date 2019 June Wages Expense Enter as a formula calling on amounts in the trial balance. Dr. 51 Balance Dr. Cr. Item cr. Date 2019 June Rent Expense 53 Post Balance Item Ref. Dr. Cr. Dr. Balance Cr....
100
Cash at bank
110
Accounts receivable
120
Inventory
130
Prepaid insurance
171
Shop equipment (cost)
172
Accumulated depreciation - shop equipment
200
Accounts payable
210
PAYG withholding payable
220
Superannuation payable
230
Bank loan
300
Capital
310
Drawings
320
Profit or loss summary
400
Sales revenue
410
Sales returns and allowances
420
Discount received
500
Cost of sales
600
Advertising expense
610
Depreciation expense
620
Discount allowed
630
Electricity expense
640
Insurance expense
650
Interest expense
660
Postage and...
PR 6-10A Periodic Inventory Accounts, Multiple-Step Income
Statement, Closing Entries
the Journalize the periodic inventory system Appendix PR 6-9A Sales-related and purchase-related transactions for buyer and seller using periodic inventory system Selected transactions during August between Summit Company and Beartooth Co. are listed in Problem 64A. Instructions Journalize the entries to record the transactions for (1) Summit Company and (2) Beartooth Co., assuming that both companies use the periodic inventory system. Appendix PR 6-10A Periodic inventory accounts, multiple-step income statement,...
Instructions On December 31, 2045, the balances of the accounts appearing in the ledger of Wyman Company are as follows: Cash Accounts receivable Inventory, January 1, 2045 Estimated returns inventory, January 1, 2045 Office supplies Prepaid insurance Land Store equipment Accumulated depreciation-store equipment Office equipment Accumulated depreciation-office equipment Accounts payable Salaries payable Customer refunds payable Unearned rent Notes payable Common stock Retained earnings Dividends Sales $13,500 72,000 257,000 35,000 3,000 4,500 150,000 270,000 55.900 78,500 16,000 77,800 3,000 50.000 8,300...
Ch 1 1. Given the following dat Dec 31 Year 2 Dec 31 Year 1 Total liabilities S128,250 $120,000 Total stockholders oquity 95.000 80.000 compute the ratio of liabilities to stockholders' equity for each year Round to two decimal places 1.50 and 107, 11.35 and 1.50 respectively respectively 1.07 and 1.19. 1.1.19 and 1.35 respectively respectively The liabilities and stockholder's equity of a company are $132,000 and $244.000, respectively. Assets should equal SS188.00 $132.00 p $376,00 12.000 A financial statement...
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