Homework Answers
| DATE | GENERAL JOURNAL | DEBIT | CREDIT |
|---|---|---|---|
| Dec 31 | Sales revenue | 50,130 | |
| Rent revenue | 390 | ||
| Salaries and Wages Expense | 23,400 | ||
| Depreciation expense | 2,200 | ||
| Utilities expense | 5,120 | ||
| Insurance expense | 2,300 | ||
| Rent expense | 6,900 | ||
| Income tax expense | 3,800 | ||
| Income summary | 6,800 | ||
| (to close revenues and expenses) | |||
| Dec 31 | Retained earnings | 390 | |
| Dividends | 390 |
(to close dividends account)
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The Sky Blue Corporation has the following adjusted trial balance at December 31. Credit Debit $...
Required information The following information applies to the questions displayed below.] The Sky Blue Corporation has...
Required information The following information applies to the questions displayed below.] The Sky Blue Corporation has the following adjusted trial balance at December 31 Debit Credit S 1,320 2,900 3,200 3,900 16,500 Cash Accounts Receivable Prepaid Insurance Notes Receivable (long-term) Equipment Accumulated Depreciation Accounts Payable Salaries and Wages Payable Income Taxes Payable Deferred Revenue Common Stock Retained Earnings Dividends Sales Revenue Rent Revenue Salaries and Wages Expense Depreciation Expense Utilities Expense Insurance Expense Rent Expense Income Tax Expense $ 4,400...
The Sky Blue Corporation has the following adjusted trial balance at December 31 Credit Debit $...
The Sky Blue Corporation has the following adjusted trial balance at December 31 Credit Debit $ 1,350 3,200 3,500 4,200 18,000 Cash Accounts Receivable Prepaid Insurance Notes Receivable (long- term) Equipment Accumulated Depreciation Accounts Payable Salaries and Wages Payable Income Taxes Payable Unearned Revenue Common Stock Retained Earnings Dividends Sales Revenue Rent Revenue Salaries and Wages Expense Depreciation Expense Utilities Expense Insurance Expense Rent Expense Income Tax Expense $ 5,000 6,620 1,600 4,100 840 3,600 1,480 420 52,830 420 24,000...
The Sky Blue Corporation has the following adjusted trial balance at December 31. Credit Debit $...
The Sky Blue Corporation has the following adjusted trial balance at December 31. Credit Debit $ 1,280 2,500 2,800 3,500 14,500 Cash Accounts Receivable Prepaid Insurance Notes Receivable (long-term) Equipment Accumulated Depreciation Accounts Payable Salaries and Wages Payable Income Taxes Payable Deferred Revenue Common Stock Retained Earnings Dividends Sales Revenue Rent Revenue Salaries and Wages Expense Depreciation Expense Utilities Expense Insurance Expense Rent Expense Income Tax Expense Total $ 3,600 5,920 1,250 3,400 700 2,900 1,200 350 46,530 350 22,600...
The Sky Blue Corporation has the following adjusted trial balance at December 31. Debit Credit Cash...
The Sky Blue Corporation has the following adjusted trial balance at December 31. Debit Credit Cash $ 1,370 Accounts Receivable 3,400 Prepaid Insurance 3,700 Notes Receivable (long-term) 4,400 Equipment 19,000 Accumulated Depreciation $ 5,400 Accounts Payable 6,820 Salaries and Wages Payable 1,700 Income Taxes Payable 4,300 Deferred Revenue 880 Common Stock 3,800 Retained Earnings 1,560 Dividends 440 Sales Revenue 54,630 Rent Revenue 440 Salaries and Wages Expense 24,400 Depreciation Expense 2,700 Utilities Expense 5,620 Insurance Expense 2,800 Rent Expense 7,400...
The Sky Blue Corporation has the following adjusted trial balance at December 31. Debit Credit Cash...
The Sky Blue Corporation has the following adjusted trial balance at December 31. Debit Credit Cash $ 1,270 Accounts Receivable 2,400 Prepaid Insurance 2,700 Notes Receivable (long-term) 3,400 Equipment 12,400 Accumulated Depreciation $ 3,000 Accounts Payable 5,620 Salaries and Wages Payable 1,100 Income Taxes Payable 3,300 Unearned Revenue 640 Common Stock 2,800 Retained Earnings 1,100 Dividends 340 Sales Revenue 44,030 Rent Revenue 340 Salaries and Wages Expense 22,000 Depreciation Expense 1,500 Utilities Expense 4,620 Insurance Expense 1,600 Rent Expense 6,400 Income...
The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented below. ...
The December 31, 2021, adjusted trial balance for Fightin' Blue
Hens Corporation is presented below.
Accounts
Debit
Credit
Cash
$
10,800
Accounts
Receivable
138,000
Prepaid
Rent
4,800
Supplies
24,000
Equipment
280,000
Accumulated
Depreciation
$
123,000
Accounts
Payable
10,800
Salaries
Payable
9,800
Interest
Payable
3,800
Notes Payable
(due in two years)
28,000
Common
Stock
180,000
Retained
Earnings
48,000
Service
Revenue
380,000
Salaries
Expense
280,000
Rent
Expense
14,000
Depreciation
Expense
28,000
Interest
Expense
3,800
Totals
$
783,400
$
783,400
1. Record...
Required information [The following information applies to the questions displayed below.) The Sky Blue Corporation has...
Required information [The following information applies to the questions displayed below.) The Sky Blue Corporation has the following adjusted trial balance at December 31. Credit Debit $ 1,310 2,800 3,100 3,800 16,000 Cash Accounts Receivable Prepaid Insurance Notes Receivable (long-term) Equipment Accumulated Depreciation Accounts Payable Salaries and Wages Payable Income Taxes Payable Deferred Revenue Common Stock Retained Earnings Dividends Sales Revenue Rent Revenue Salaries and Wages Expense Depreciation Expense Utilities Expense Insurance Expense Rent Expense Income Tax Expense Total $...
Account Trial Balance Debit Credit 8,300 6,800 Adjusted Trial Balance Debit Credit $ 8,300 6,850 800...
Account Trial Balance Debit Credit 8,300 6,800 Adjusted Trial Balance Debit Credit $ 8,300 6,850 800 4,300 1,000 4,300 1.900 Cash Accounts receivable Interest receivable Note receivable Supplies Prepaid insurance Building Accumulated depreciation building Accounts payable Wages payable Unearned rental revenue 2,200 66,700 600 66,700 $ 9,700 6,300 11,600 6,300 850 600 19,000 Common stock Retained earnings Dividends 1,400 19,000 43,800 43,800 4,000 4,000 Rental revenue 15,600 800 16,450 1,600 Interest revenue Depreciation expense-building Supplies expense Utilities expense Wage expense...
The adjusted trial balance for China Tea Company at December 31, 2021. is presented below: Credit...
The adjusted trial balance for China Tea Company at December 31, 2021. is presented below: Credit Debit 18,500 150,000 5,000 25,000 зеееее Cash Accounts receivable Prepaid rent Inventory Equipment Accumulated depreciation equipment Accounts payable Notes payable-due in three months Salaries payable Interest payable Common stock Retained earnings Dividends Sales revenue costs of goods sold Salaries expense Rent expense Depreciation expense Interest expense Advertising expense Totals 125,000 30.000 30,000 4,000 9.000 200,000 50,000 8.000 400,000 180,000 120,000 15,000 30.oe 2.ee 2,500...
The Sky Blue Corporation has the following adjusted trial balance at December 31. Prepare a classified balance sheet at December 31. (Amounts to be deducted should be indicated by a minus sign.) Are the Sky Blue Corporation's assets financed primarily by
he Sky Blue Corporation has the following adjusted trial balance at December 31. DebitCredit Cash$1,230 Accounts Receivable2,000 Prepaid Insurance2,300 Notes Receivable (long-term)3,000 Equipment12,000 Accumulated Depreciation$2,600 Accounts Payable5,420 Salaries and Wages Payable1,000 Income Taxes Payable2,900 Unearned Revenue600 Common Stock2,400 Retained Earnings1,000 Dividends300 Sales Revenue42,030 Rent Revenue300 Salaries and Wages Expense21,600 Depreciation Expense1,300 Utilities Expense4,220 Insurance Expense1,400 Rent Expense6,000 Income Tax Expense2,900 Total$58,250$58,250 1.Prepare a classified balance sheet at December 31. (Amounts to be deducted should be indicated by a minus sign.) SKY BLUE CORPORATIONBalance SheetAt December 31Assets00$0LiabilitiesCash0Stockholders' Equity0$0 2.Are the Sky Blue Corporation's assets financed primarily by debt or equity?EquityDebt
Required information The following information applies to the questions displayed below.] The Sky Blue Corporation has the following adjusted trial balance at December 31 Debit Credit S 1,320 2,900 3,200 3,900 16,500 Cash Accounts Receivable Prepaid Insurance Notes Receivable (long-term) Equipment Accumulated Depreciation Accounts Payable Salaries and Wages Payable Income Taxes Payable Deferred Revenue Common Stock Retained Earnings Dividends Sales Revenue Rent Revenue Salaries and Wages Expense Depreciation Expense Utilities Expense Insurance Expense Rent Expense Income Tax Expense $ 4,400...
The Sky Blue Corporation has the following adjusted trial balance at December 31 Credit Debit $ 1,350 3,200 3,500 4,200 18,000 Cash Accounts Receivable Prepaid Insurance Notes Receivable (long- term) Equipment Accumulated Depreciation Accounts Payable Salaries and Wages Payable Income Taxes Payable Unearned Revenue Common Stock Retained Earnings Dividends Sales Revenue Rent Revenue Salaries and Wages Expense Depreciation Expense Utilities Expense Insurance Expense Rent Expense Income Tax Expense $ 5,000 6,620 1,600 4,100 840 3,600 1,480 420 52,830 420 24,000...
The Sky Blue Corporation has the following adjusted trial balance at December 31. Credit Debit $ 1,280 2,500 2,800 3,500 14,500 Cash Accounts Receivable Prepaid Insurance Notes Receivable (long-term) Equipment Accumulated Depreciation Accounts Payable Salaries and Wages Payable Income Taxes Payable Deferred Revenue Common Stock Retained Earnings Dividends Sales Revenue Rent Revenue Salaries and Wages Expense Depreciation Expense Utilities Expense Insurance Expense Rent Expense Income Tax Expense Total $ 3,600 5,920 1,250 3,400 700 2,900 1,200 350 46,530 350 22,600...
The December 31, 2021, adjusted trial balance for Fightin' Blue
Hens Corporation is presented below.
Accounts
Debit
Credit
Cash
$
10,800
Accounts
Receivable
138,000
Prepaid
Rent
4,800
Supplies
24,000
Equipment
280,000
Accumulated
Depreciation
$
123,000
Accounts
Payable
10,800
Salaries
Payable
9,800
Interest
Payable
3,800
Notes Payable
(due in two years)
28,000
Common
Stock
180,000
Retained
Earnings
48,000
Service
Revenue
380,000
Salaries
Expense
280,000
Rent
Expense
14,000
Depreciation
Expense
28,000
Interest
Expense
3,800
Totals
$
783,400
$
783,400
1. Record...
Required information [The following information applies to the questions displayed below.) The Sky Blue Corporation has the following adjusted trial balance at December 31. Credit Debit $ 1,310 2,800 3,100 3,800 16,000 Cash Accounts Receivable Prepaid Insurance Notes Receivable (long-term) Equipment Accumulated Depreciation Accounts Payable Salaries and Wages Payable Income Taxes Payable Deferred Revenue Common Stock Retained Earnings Dividends Sales Revenue Rent Revenue Salaries and Wages Expense Depreciation Expense Utilities Expense Insurance Expense Rent Expense Income Tax Expense Total $...
Account Trial Balance Debit Credit 8,300 6,800 Adjusted Trial Balance Debit Credit $ 8,300 6,850 800 4,300 1,000 4,300 1.900 Cash Accounts receivable Interest receivable Note receivable Supplies Prepaid insurance Building Accumulated depreciation building Accounts payable Wages payable Unearned rental revenue 2,200 66,700 600 66,700 $ 9,700 6,300 11,600 6,300 850 600 19,000 Common stock Retained earnings Dividends 1,400 19,000 43,800 43,800 4,000 4,000 Rental revenue 15,600 800 16,450 1,600 Interest revenue Depreciation expense-building Supplies expense Utilities expense Wage expense...
The adjusted trial balance for China Tea Company at December 31, 2021. is presented below: Credit Debit 18,500 150,000 5,000 25,000 зеееее Cash Accounts receivable Prepaid rent Inventory Equipment Accumulated depreciation equipment Accounts payable Notes payable-due in three months Salaries payable Interest payable Common stock Retained earnings Dividends Sales revenue costs of goods sold Salaries expense Rent expense Depreciation expense Interest expense Advertising expense Totals 125,000 30.000 30,000 4,000 9.000 200,000 50,000 8.000 400,000 180,000 120,000 15,000 30.oe 2.ee 2,500...
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