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Homework Answers
| Income Statement | |
| Sales revenue | 326,240 |
| Less expenses: | |
| Office expense | -6,320 |
| Salaries and wages expense | -128,900 |
| Rent expense | -164,400 |
| Income tax expense | -10,520 |
| Net income | $16,100 |
| Statement of Retained Earnings | |
| Retained earnings, beginning | 99,880 |
| Add: Net income | 16,100 |
| 115,980 | |
| Less: Dividends | 0 |
| Retained earnings, ending | $115,980 |
| Rollcom, Inc. | ||
| POST -Closing Trial Balance | ||
| At September 30, 2018 | ||
| Accounts Titles | Debit | Credit |
| Cash | 80,500 | |
| Accounts receivable | 66,700 | |
| Supplies | 35,400 | |
| Equipment | 90,900 | |
| Accumulated depreciation - equipment | 21,700 | |
| Accounts payable | 39,300 | |
| Notes payable (long term) | 1,520 | |
| Common stock | 95,000 | |
| Retained earnings | 115,980 | |
| Totals | $ 273,500 | $ 273,500 |
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[The following information applies to the questions displayed below] The following is a list of accounts...
The following is a list of accounts and adjusted amounts for Rollcom, Inc., for the fiscal...
The following is a list of accounts and adjusted amounts for
Rollcom, Inc., for the fiscal year ended September 30, 2018. The
accounts have normal debit or credit balances.
Accounts Payable
$
39,300
Accounts Receivable
66,700
Accumulated Depreciation
21,700
Cash
80,500
Common Stock
95,000
Equipment
90,900
Income Tax Expense
10,520
Notes Payable (long-term)
1,520
Office Expenses
6,320
Rent Expense
164,400
Retained Earnings
99,880
Salaries and Wages Expense
128,900
Sales Revenue
326,240
Supplies
35,400
Prepare the closing entry required at September...
[The following information applies to the questions displayed below.] The following is a list of accounts...
[The following information applies to the questions displayed below.] The following is a list of accounts and adjusted amounts for Rollcom, Inc., for the fiscal year ended September 30, 2018. The accounts have normal debit or credit balances. Accounts Payable Accounts Receivable Accumulated Depreciation Cash Common Stock Equipment Income Tax Expense Notes Payable (long-term) Office Expenses Rent Expense Retained Earnings Salaries and Wages Expense Sales Revenue Supplies $ 40,000 67,400 22,400 81,200 95,700 91,600 10,590 1,590 6,390 165, 100 99,810...
Required information [The following information applies to the questions displayed below.] The following is a list...
Required information [The following information applies to the questions displayed below.] The following is a list of accounts and adjusted amounts for Rollcom, Inc., for the fiscal year ended September 30, 2018. The accounts have normal debit or credit balances. Accounts Payable Accounts Receivable Accumulated Depreciation Cash Common Stock Equipment Income Tax Expense Notes Payable (long-term) Office Expenses Rent Expense Retained Earnings Salaries and Wages Expense Sales Revenue Supplies $ 40,000 67,400 22,400 81,200 95,700 91,600 10,590 1,590 6,390 165,...
Required information [The following information applies to the questions displayed below) The following is a list...
Required information [The following information applies to the questions displayed below) The following is a list of accounts and adjusted amounts for Rollcom, Inc., for the fiscal year ended September 30, 2018 The accounts have normal debitor credit balances, Accounts Payable Accounts Receivable Accumulated Depreciation Cash Common Stock Equipment Income Tax Expense Notes Payable (long-term) office Expenses Rent Expense Retained Earnings Salaries and Wages Expense Sales Revenue Supplies $ 39,100 66,500 21,500 80,300 94,800 90,700 10,500 1,500 6,300 164,204 99,900...
Required information (The following information applies to the questions displayed below.) Starbooks Corporation provides an online...
Required information (The following information applies to the questions displayed below.) Starbooks Corporation provides an online bookstore for electronic books. The following is a simplified list of accounts and amounts reported in its accounting records. The accounts have normal debitor credit balances. Assume the year ended on September 30, 2018 $ 592 292 892 292 192 292 3.192 Accounts Payable Accounts Receivable Accumulated Depreciation Cash Common Stock Deferred Revenue Depreciation Expense Equipment Theone Taxpense Interest Revenue Notes Payable long-term) Notes...
Required information [The following information applies to the questions displayed below.) The following is a list...
Required information [The following information applies to the questions displayed below.) The following is a list of accounts and adjusted amounts for Rollcom, Inc., for the fiscal year ended September 30, 2018. The accounts have normal debit or credit balances. Accounts Payable Accounts Receivable Accumulated Depreciation Cash Common Stock Equipment Income Tax Expense Notes Payable (long-term) Office Expenses Rent Expense Retained Earnings Salaries and Wages Expense Sales Revenue Supplies $ 39,100 66,500 21,500 80,300 94,800 90,700 10,500 1,500 6,300 164,200...
Required information CP4-1 Preparing an Adjusted Trial Balance, Closing Journal Entry, and Post-Closing Trial Balance [LO...
Required information CP4-1 Preparing an Adjusted Trial Balance, Closing Journal Entry, and Post-Closing Trial Balance [LO 4-3, LO 4-5) [The following information applies to the questions displayed below) The following is a list of accounts and adjusted amounts for Rollcom, Inc., for the fiscal year ended September 30, 2018, The accounts have normal debitor credit balances. Accounts Payable Accounts Receivable Accumulated Depreciation Cash Common Stock Equipment Income Tax Expenso Notes Payable (long-term) Office Expenses Rent Expense Retained Earnings Salaries and...
post closing trial balance financial accounting Required information The following information applies to the questions displayed...
post closing trial balance financial accounting
Required information The following information applies to the questions displayed below.] Starbooks Corporation provides an online bookstore for electronic books. The following is a simplified list of accounts and amounts reported in its accounting records. The accounts have normal debitor credit balances. Assume the year ended on September 30, 2018 Accounts Payable Recounts Receivable Melated Depreciation Common Deferred Revenue ti per iment Income Tax Expense Notes Payable long-term) Notes Payable short-ter) wense Retained Earnings...
Save & Exl Checic Required information [The following information applies to the questions displayed below.) Starbooks...
Save & Exl Checic Required information [The following information applies to the questions displayed below.) Starbooks Corporation provides an online bookstore for electronic books. The following is a simplified list of accounts and amounts reported in its accounting records. The accounts have normal debit or credit balances. Assume the year ended on September 30, 2018. Accounts Payable Accounts Receivable Accumulated Depreciation Cash Common Stock Deferred Revenue Depreciation Expense Equipment Income Tax Expense Interest Revenue Notes Payable (long-term) Notes Payable (short-term)...
Required Information [The following information applies to the questions displayed below) Starbooks Corporation provides an online...
Required Information [The following information applies to the questions displayed below) Starbooks Corporation provides an online bookstore for electronic books. The following is a simplified list of accounts and amounts reported in its accounting records. The accounts have normal debit or credit balances. Assume the year ended on September 30, 2018 Accounts Payable Accounts Receivable Accumulated Depreciation Cash Common Stock Deferred Revenue Depreciation Expense Equipment Income Tax Expense Interest Revenue Notes Payable (long-term) Notes Payable (short-term Prepaid Rent Rent Expense...
The following is a list of accounts and adjusted amounts for
Rollcom, Inc., for the fiscal year ended September 30, 2018. The
accounts have normal debit or credit balances.
Accounts Payable
$
39,300
Accounts Receivable
66,700
Accumulated Depreciation
21,700
Cash
80,500
Common Stock
95,000
Equipment
90,900
Income Tax Expense
10,520
Notes Payable (long-term)
1,520
Office Expenses
6,320
Rent Expense
164,400
Retained Earnings
99,880
Salaries and Wages Expense
128,900
Sales Revenue
326,240
Supplies
35,400
Prepare the closing entry required at September...
[The following information applies to the questions displayed below.] The following is a list of accounts and adjusted amounts for Rollcom, Inc., for the fiscal year ended September 30, 2018. The accounts have normal debit or credit balances. Accounts Payable Accounts Receivable Accumulated Depreciation Cash Common Stock Equipment Income Tax Expense Notes Payable (long-term) Office Expenses Rent Expense Retained Earnings Salaries and Wages Expense Sales Revenue Supplies $ 40,000 67,400 22,400 81,200 95,700 91,600 10,590 1,590 6,390 165, 100 99,810...
Required information [The following information applies to the questions displayed below.] The following is a list of accounts and adjusted amounts for Rollcom, Inc., for the fiscal year ended September 30, 2018. The accounts have normal debit or credit balances. Accounts Payable Accounts Receivable Accumulated Depreciation Cash Common Stock Equipment Income Tax Expense Notes Payable (long-term) Office Expenses Rent Expense Retained Earnings Salaries and Wages Expense Sales Revenue Supplies $ 40,000 67,400 22,400 81,200 95,700 91,600 10,590 1,590 6,390 165,...
Required information [The following information applies to the questions displayed below) The following is a list of accounts and adjusted amounts for Rollcom, Inc., for the fiscal year ended September 30, 2018 The accounts have normal debitor credit balances, Accounts Payable Accounts Receivable Accumulated Depreciation Cash Common Stock Equipment Income Tax Expense Notes Payable (long-term) office Expenses Rent Expense Retained Earnings Salaries and Wages Expense Sales Revenue Supplies $ 39,100 66,500 21,500 80,300 94,800 90,700 10,500 1,500 6,300 164,204 99,900...
Required information (The following information applies to the questions displayed below.) Starbooks Corporation provides an online bookstore for electronic books. The following is a simplified list of accounts and amounts reported in its accounting records. The accounts have normal debitor credit balances. Assume the year ended on September 30, 2018 $ 592 292 892 292 192 292 3.192 Accounts Payable Accounts Receivable Accumulated Depreciation Cash Common Stock Deferred Revenue Depreciation Expense Equipment Theone Taxpense Interest Revenue Notes Payable long-term) Notes...
Required information [The following information applies to the questions displayed below.) The following is a list of accounts and adjusted amounts for Rollcom, Inc., for the fiscal year ended September 30, 2018. The accounts have normal debit or credit balances. Accounts Payable Accounts Receivable Accumulated Depreciation Cash Common Stock Equipment Income Tax Expense Notes Payable (long-term) Office Expenses Rent Expense Retained Earnings Salaries and Wages Expense Sales Revenue Supplies $ 39,100 66,500 21,500 80,300 94,800 90,700 10,500 1,500 6,300 164,200...
Required information CP4-1 Preparing an Adjusted Trial Balance, Closing Journal Entry, and Post-Closing Trial Balance [LO 4-3, LO 4-5) [The following information applies to the questions displayed below) The following is a list of accounts and adjusted amounts for Rollcom, Inc., for the fiscal year ended September 30, 2018, The accounts have normal debitor credit balances. Accounts Payable Accounts Receivable Accumulated Depreciation Cash Common Stock Equipment Income Tax Expenso Notes Payable (long-term) Office Expenses Rent Expense Retained Earnings Salaries and...
post closing trial balance financial accounting
Required information The following information applies to the questions displayed below.] Starbooks Corporation provides an online bookstore for electronic books. The following is a simplified list of accounts and amounts reported in its accounting records. The accounts have normal debitor credit balances. Assume the year ended on September 30, 2018 Accounts Payable Recounts Receivable Melated Depreciation Common Deferred Revenue ti per iment Income Tax Expense Notes Payable long-term) Notes Payable short-ter) wense Retained Earnings...
Save & Exl Checic Required information [The following information applies to the questions displayed below.) Starbooks Corporation provides an online bookstore for electronic books. The following is a simplified list of accounts and amounts reported in its accounting records. The accounts have normal debit or credit balances. Assume the year ended on September 30, 2018. Accounts Payable Accounts Receivable Accumulated Depreciation Cash Common Stock Deferred Revenue Depreciation Expense Equipment Income Tax Expense Interest Revenue Notes Payable (long-term) Notes Payable (short-term)...
Required Information [The following information applies to the questions displayed below) Starbooks Corporation provides an online bookstore for electronic books. The following is a simplified list of accounts and amounts reported in its accounting records. The accounts have normal debit or credit balances. Assume the year ended on September 30, 2018 Accounts Payable Accounts Receivable Accumulated Depreciation Cash Common Stock Deferred Revenue Depreciation Expense Equipment Income Tax Expense Interest Revenue Notes Payable (long-term) Notes Payable (short-term Prepaid Rent Rent Expense...
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