Homework Answers
OPTION - $85,400.
Calculation of Net Income = Sales Revenue + Fees earned - Depreciation expense - Insurance expense - miscellaneous expenses - Rent expenses - Supplies Expenses - Utilities Expenses - wages Expenses. => $153,700 + $380,600 - $38,000 - 25,000 - 2,900 - 124,000 - 12,000 - 6,000 - 260,000 = $66,400.
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Refer to the list of the accounts and balances below for the year-ended December 31, 2020....
Refer to the list of the accounts and balances below for the year-ended December 31, 2020....
Refer to the list of the accounts and balances below for the year-ended December 31, 2020. Common Stock Depreciation Expense Dividends Fees Earned Insurance Expense Miscellaneous Expense Prepaid Insurance Expense Rent Expense Retained Earnings Sales Revenue Supplies Expense Unearned Sales Revenue Utilities Expense Wages Expense Wages Payable $ 400,000 $ 45,000 $ 15,500 $ 405,000 $ 40,000 $ 5,700 $ 18,000 $ 45,000 $ 133,000 $ 29,000 $ 13,700 $ 32,000 $ 4,900 $ 189,000 $ 5,600 What are the...
Refer to the list of the accounts and balances below for the year-ended December 31, 2020....
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Refer to the list of the accounts and balances below for the year-ended December 31, 2020....
Refer to the list of the accounts and balances below for the year-ended December 31, 2020. Accounts Payable Accounts Receivable Accumulated Depreciation - Building Building Cash Common Stock Depreciation Expense Dividends Interest Payable Land Notes Payable Supplies Supplies Expense Unearned Sales Revenue Utilities Expense Wages Expense Wages Payable $ 38,900 $ 27,000 $ 93,600 $ 234,000 $ 89,000 $ 300,000 $ 23,000 $ 20,000 $ 4,000 $ 200,000 $ 250,000 $ 98,000 $ 26,000 $ 53,000 $ 8.000 $ 120,000...
Refer to the list of the accounts and balances below for the year-ended December 31, 2020....
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Prepare a retained earnings statement for the year ended December 31, 2022. (List items that increase...
Prepare a retained earnings statement for the year ended December 31, 2022. (List items that increase retained earnings first.) CULLUMBER COMPANY Retained Earnings Statement $ < $ These items are taken from the financial statements of Cullumber Company for 2022. Retained earnings (beginning of year) Utilities expense Equipment Accounts payable Cash Salaries and wages payable Common stock Dividends Supplies Debt investment (long-term) Trademarks Service revenue Prepaid insurance Maintenance and repairs expense Depreciation expense Accounts receivable Insurance expense Salaries and wages...
The adjusted trial balance for Bay Shore Tax Accountants for the year-ended December 31, 2020 is...
The adjusted trial balance for Bay Shore Tax Accountants for the year-ended December 31, 2020 is included below. Only use the information below to answer the question. Do NOT rely on information provided in another question. Bay Shore Tax Accountants Adjusted Trial Balance December 31, 2020 US Dollar Debit Credit $ 40,000 $ 18,000 $ 270,000 $ 86,000 $ 900,000 $ 120,600 $ 720,000 $ 81,000 $ 28,000 $ 330,000 $ 729,000 $ 33,100 $ 72,600 Accounts Payable Accounts Receivable...
Prepare a retained earnings statement for the year ended December 31, 2022. (List items that increase...
Prepare a retained earnings statement for
the year ended December 31, 2022. (List items that
increase retained earnings first.)
Prepare a classified balance sheet as of December 31, 2022.
(List Current Assets in order of
liquidity.)
These items are taken from the financial statements of Cullumber Company for 2022. Retained earnings (beginning of year) Utilities expense Equipment Accounts payable Cash Salaries and wages payable Common stock Dividends Supplies Debt investment (long-term) Trademarks Service revenue Prepaid insurance Maintenance and repairs expense...
Listed below are account balances for Accounts Company for the fiscal year ended December 31, 2019....
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Listed below are account balances for Accounts Company for the fiscal year ended December 31, 2019....
Listed below are account balances for Accounts Company for the fiscal year ended December 31, 2019. Long-term investments Notes payable, long-term Prepaid insurance Wages payable Common Stock Equipment Land Interest payable Interest expense Income tax payable Cost of goods sold Cash Accounts payable Buildings Accumulated depreciation Dividends General and administrative expenses Accounts receivable Inventory Notes payable, current portion Selling expenses Trademarks Sales revenue Income tax expense Supplies Retained earnings, Jan. 1, 2019 $26,250 208,500 5,250 13,500 225,000 183,750 26,250 10,500...
QUESTION 22 For the year ended December 31, 2020, Transformers Inc. reported the following: Net income...
QUESTION 22 For the year ended December 31, 2020, Transformers Inc. reported the following: Net income $300,000 Dividends declared 60,000 Additional paid-in capital 10,000 Unearned revenue 5,000 Retained earnings, beginning balance 400,000 Common stock 200,000 Accumulated Other Comprehensive Income, Beginning Balance 25,000 What would Transformers report as the ending balance of Retained Earnings? $695,000 $665,000 $640,000 $645,000
Refer to the list of the accounts and balances below for the year-ended December 31, 2020. Common Stock Depreciation Expense Dividends Fees Earned Insurance Expense Miscellaneous Expense Prepaid Insurance Expense Rent Expense Retained Earnings Sales Revenue Supplies Expense Unearned Sales Revenue Utilities Expense Wages Expense Wages Payable $ 400,000 $ 45,000 $ 15,500 $ 405,000 $ 40,000 $ 5,700 $ 18,000 $ 45,000 $ 133,000 $ 29,000 $ 13,700 $ 32,000 $ 4,900 $ 189,000 $ 5,600 What are the...
Refer to the list of the accounts and balances below for the year-ended December 31, 2020. Common Stock Depreciation Expense Dividends Fees Earned Insurance Expense Miscellaneous Expense Prepaid Insurance Expense Rent Expense Retained Earnings Sales Revenue Supplies Expense Unearned Sales Revenue Utilities Expense Wages Expense Wages Payable $ 600,000 $ 101,000 $ 32,000 $ 912,000 $ 90,000 $ 12,800 $ 40,500 $ 101,200 $ 300,000 $ 65,100 $ 30,900 $ 72,000 $ 11,100 $ 426,000 $ 12,600 What is the...
Refer to the list of the accounts and balances below for the year-ended December 31, 2020. Accounts Payable Accounts Receivable Accumulated Depreciation - Building Building Cash Common Stock Depreciation Expense Dividends Interest Payable Land Notes Payable Supplies Supplies Expense Unearned Sales Revenue Utilities Expense Wages Expense Wages Payable $ 38,900 $ 27,000 $ 93,600 $ 234,000 $ 89,000 $ 300,000 $ 23,000 $ 20,000 $ 4,000 $ 200,000 $ 250,000 $ 98,000 $ 26,000 $ 53,000 $ 8.000 $ 120,000...
Refer to the list of the accounts and balances below for the year-ended December 31, 2020. Accounts Payable Accounts Receivable Accumulated Depreciation - Building Building Cash Common Stock Depreciation Expense Dividends Interest Payable Land Notes Payable Supplies Supplies Expense Unearned Sales Revenue Utilities Expense Wages Expense Wages Payable $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 56,000 33,500 95,000 450,000 125,000 750,000 45,000 15,000 5,300 550,000 250,000 90,000 14,000 64,000 6,700...
Prepare a retained earnings statement for the year ended December 31, 2022. (List items that increase retained earnings first.) CULLUMBER COMPANY Retained Earnings Statement $ < $ These items are taken from the financial statements of Cullumber Company for 2022. Retained earnings (beginning of year) Utilities expense Equipment Accounts payable Cash Salaries and wages payable Common stock Dividends Supplies Debt investment (long-term) Trademarks Service revenue Prepaid insurance Maintenance and repairs expense Depreciation expense Accounts receivable Insurance expense Salaries and wages...
The adjusted trial balance for Bay Shore Tax Accountants for the year-ended December 31, 2020 is included below. Only use the information below to answer the question. Do NOT rely on information provided in another question. Bay Shore Tax Accountants Adjusted Trial Balance December 31, 2020 US Dollar Debit Credit $ 40,000 $ 18,000 $ 270,000 $ 86,000 $ 900,000 $ 120,600 $ 720,000 $ 81,000 $ 28,000 $ 330,000 $ 729,000 $ 33,100 $ 72,600 Accounts Payable Accounts Receivable...
Prepare a retained earnings statement for
the year ended December 31, 2022. (List items that
increase retained earnings first.)
Prepare a classified balance sheet as of December 31, 2022.
(List Current Assets in order of
liquidity.)
These items are taken from the financial statements of Cullumber Company for 2022. Retained earnings (beginning of year) Utilities expense Equipment Accounts payable Cash Salaries and wages payable Common stock Dividends Supplies Debt investment (long-term) Trademarks Service revenue Prepaid insurance Maintenance and repairs expense...
QUESTION 22 For the year ended December 31, 2020, Transformers Inc. reported the following: Net income $300,000 Dividends declared 60,000 Additional paid-in capital 10,000 Unearned revenue 5,000 Retained earnings, beginning balance 400,000 Common stock 200,000 Accumulated Other Comprehensive Income, Beginning Balance 25,000 What would Transformers report as the ending balance of Retained Earnings? $695,000 $665,000 $640,000 $645,000
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