Homework Answers
| Balance Sheet | |||||
| Liabilties | Amount | Amount $ | Assets | Amount | Amount $ |
| Capital stock | 50600 | Buildings | 116000 | ||
| Retained Earnings | 67200 | Less: Accumulated depreciation on buildings | -53300 | ||
| Less: Dvidends | -17500 | 62700 | |||
| Add: Profit (W.N.1) | 51300 | 101000 | Equipment | 61600 | |
| 7500 | Less: Accumulated depreciation on Equipments | -16000 | |||
| Accounts Payable | 45200 | 45600 | |||
| Accounts Receivable | 40100 | ||||
| Cash | 36200 | ||||
| Prepaid Rent | 19700 | ||||
| 204300 | 204300 | ||||
| WN.1 Calculation of Profit | $ | ||||
| Service Revenue | 104300 | ||||
| Less: Supplies | -22200 | ||||
| Less: Supplies Exp | -3900 | ||||
| Less: Rent Expenses | -5900 | ||||
| Less: salary exp | -3200 | ||||
| Less: Dep on Building | -10100 | ||||
| Less: Dep on equipment | -7700 | ||||
| Profit | 51300 |
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prepare a balance sheet with the following information please
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Accounts Payable $...
ACCOUNTING CYCLE Balance sheet subtotals Accounts Payable $ 39,500 Service Revenue $ 42,100 Accounts Receivable 48,500...
ACCOUNTING CYCLE Balance sheet subtotals Accounts Payable $ 39,500 Service Revenue $ 42,100 Accounts Receivable 48,500 Legal Expense 5,600 17,300 Note Payable, due in two years. 15,000 Accumulated Depreciation, Equipment Accumulated Depreciation, Buildings 68,900 O Prepaid Rent 15,500 U Advertising Expense 9,700 7,600 0 Rent Expense 82,000 Beginning Capital Salaries Expense 3,800 Buildings 86,000 14,000 Salaries Payable 23,000 Cash 19,300 Supplies Drawing 17,100 7.000 O Supplies Expense 35,700 Equipment lanation Check Required: Compute the dollar amount of the total current...
Chapter 5-Balance Sheet Using the following information, prepare a Classified Balance Sheet Accounts Payable Accounts Receivable...
Chapter 5-Balance Sheet Using the following information, prepare a Classified Balance Sheet Accounts Payable Accounts Receivable $19,4 82460Office Equipment 7.900 Office Supplies 23,00 18,75 Accumulated Depreciation Office Equipment Accumulated Depreciation Store Administrative Expenses Allowance for Doubtful Accounts 32,000 Revenue 68,19 28,980 36,000Sales ed Earnings Payable Ex Cost of Merchandise Sold Common Stock 9,09 42,780 nterest Expense 800 Equipment 25,100 nearned Rent Merchandise Inventory Notes Payable (due in two years) 20 Total Current Assets Net Property, Plant, & Equipment I Assets...
Prepare an Income Statement, Statement of Retained Earnings, and Balance Sheet using the following information. Credit...
Prepare an Income Statement, Statement of Retained Earnings, and
Balance Sheet using the following information.
Credit (CR) Debit (DR) 11,000 Cash 5,000 23,500 4,000 12,000 4,000 2,500 3,800 60,000 32,000 29,500 21,000 Accounts Payable Accounts Receviable Rent Expense Unearned Revenue Depreciation Expense Prepaid Insurance Supplies Expense Equipment Accumulated Depreciation - Equipment Cost of Goods Sold Merchandise Inventory Notes Payable Salary Payable Buildings Interest Payable Sales Revenue Interest Expense Supplies Accumulated Depreciation - Buildings Prepaid Insurance Common Stock Retained Earnings Dividends...
Prepare a balance sheet for the following information: (if something doesnt belong in the balance sheet,...
Prepare a balance sheet for the following information: (if something doesnt belong in the balance sheet, just leave it) Cash 990,000 Common Stock 10,000 Service Revenue 355,000 Accounts Receivable 65,000 Additional Paid in Capital 390,000 Notes Payable 350,000 Interest Expense 29,167 Interest Payable 29,167 Prepaid Rent 24,000 Equipment 76,000 Depreciation 10,000 Accumulated Depreciation 10,000 Supplies 5,000 Unearned Service Revenue 30,000 Misc Expense 50,000 prepaid insurance 12,000 insurance expense 12,000 accounts payable 6,000 unrealized gain in investment 6,000 unrealized gain in...
Accounts Payable Accounts Receivable Accumulated Depreciation - Buildings Accumulated Depreciation - Equipment Accumulated Depreciation - Furniture...
Accounts Payable
Accounts Receivable
Accumulated Depreciation - Buildings
Accumulated Depreciation - Equipment
Accumulated Depreciation - Furniture
Accumulated Depreciation - Vehicles
Advertising Expense
Bank Loan Payable
Bank Loan Receivable
Buildings
Cash
Common Shares
Depreciation Expense
Dividends Declared
Equipment
Fees Earned
Furniture
Income Summary
Income Tax Expense
Income Tax Payable
Income Tax Receivable
Insurance Expense
Insurance Revenue
Interest Expense
Interest Payable
Interest Receivable
Interest Revenue
Land
Mortgage Payable
No Entry
Notes Receivable
Office Expense
Prepaid Advertising
Prepaid Expense
Prepaid Insurance
Prepaid Rent...
prepare an Income statement, statement of owners equity, and balance sheet for the following .. Cash...
prepare an Income statement, statement of owners equity, and balance sheet for the following .. Cash 16,500 Accounts Receivable 10,450 Office Supplies 264 Prepaid Rent 880 Office Equipment 9,240 Accumulated Depreciation - Office Equipment 2,200 Accounts Payable 5,940 Notes Payable 11,000 Unearned Service Revenue 1,166 Interest Payable 550 Salaries Payable 330 B. Cooper, Capital 24,002 B. Cooper, Withdrawal 22,000 Service Revenue 76,604 Salaries Expense 49,730 Rent Expense 4,840 Utilities Expense 4,280 Office Supplies Expense 2,398 Depreciation Expense - Office Equipment...
11. Balance sheet presentation. ccount information for Leong Corporation, prepare a balance sheet in report form...
11. Balance sheet presentation. ccount information for Leong Corporation, prepare a balance sheet in report form for the company as of December 31, 2020. All accounts have not 70,000 2,400 600 2 Equipment Interest Expense Interest Payable Retained Earnings Dividends Land Accounts Receivable Bonds Payable Notes Payable (due in 6 months) Common Stock Accumulated Depreciation - Equip Prepaid Advertising Service Revenue Buildings Supplies Income Taxes Payable Utilities Expense Advertising Expense Salaries and Wages Expense Salaries and Wages Payable Accumulated Depr....
In addition to those accounts listed on the trial balance, the chart of accounts for Cullumber...
In addition to those accounts listed on the trial balance, the
chart of accounts for Cullumber Company also contains the following
accounts and account numbers: No. 142 Accumulated
Depreciation—Buildings, No. 150 Accumulated Depreciation—Equipment,
No. 212 Salaries and Wages Payable, No. 230 Interest Payable, No.
619 Depreciation Expense, No. 631 Supplies Expense, No. 718
Interest Expense, and No. 722 Insurance Expense. Other data: 1.
Prepaid insurance is a 1-year policy starting May 1, 2020. 2. A
count of supplies shows $700...
In addition to those accounts listed on the trial balance
In addition to those accounts listed on the trial balance, the chart of accounts for Novak Corp. also contains the following accounts and account numbers: No. 142 Accumulated Depreciation-Buildings, No. 150 Accumulated Depreciation Equipment, No. 212 Salaries and Wages Payable, No 230 interest Payable, No. 619 Depreciation Expense, No. 631 Supplies Expense, No. 718 Interest Expense, and No. 722 insurance Expense.Other data: .1. Prepaid insurance is a 1-year policy starting May 1, 2022 2. A count of supplies shows $945 of unused supplies...
33) Using the adjusted trial balance below write the four closing entries necessary to prepare accounts...
33) Using the adjusted trial balance below write the four closing entries necessary to prepare accounts for the beginning of the next accounting period. DODSON CONTAINERS Adjusted Trial Balance December 31 $ 3,050 400 830 80 4,200 $ 1,100 98,000 28,000 115,000 880 1,400 2,200 Cash.... Accounts receivable.......... Prepaid insurance Office supplies ........... Office equipment Accumulated depreciation office equipment ... Buildings.. Accumulated depreciation—buildings.......... Land Wages Payable.............. Property taxes payable... Interest payable............. Unearned rent........... Long-term notes payable........... Common stock ........... •...
ACCOUNTING CYCLE Balance sheet subtotals Accounts Payable $ 39,500 Service Revenue $ 42,100 Accounts Receivable 48,500 Legal Expense 5,600 17,300 Note Payable, due in two years. 15,000 Accumulated Depreciation, Equipment Accumulated Depreciation, Buildings 68,900 O Prepaid Rent 15,500 U Advertising Expense 9,700 7,600 0 Rent Expense 82,000 Beginning Capital Salaries Expense 3,800 Buildings 86,000 14,000 Salaries Payable 23,000 Cash 19,300 Supplies Drawing 17,100 7.000 O Supplies Expense 35,700 Equipment lanation Check Required: Compute the dollar amount of the total current...
Chapter 5-Balance Sheet Using the following information, prepare a Classified Balance Sheet Accounts Payable Accounts Receivable $19,4 82460Office Equipment 7.900 Office Supplies 23,00 18,75 Accumulated Depreciation Office Equipment Accumulated Depreciation Store Administrative Expenses Allowance for Doubtful Accounts 32,000 Revenue 68,19 28,980 36,000Sales ed Earnings Payable Ex Cost of Merchandise Sold Common Stock 9,09 42,780 nterest Expense 800 Equipment 25,100 nearned Rent Merchandise Inventory Notes Payable (due in two years) 20 Total Current Assets Net Property, Plant, & Equipment I Assets...
Prepare an Income Statement, Statement of Retained Earnings, and
Balance Sheet using the following information.
Credit (CR) Debit (DR) 11,000 Cash 5,000 23,500 4,000 12,000 4,000 2,500 3,800 60,000 32,000 29,500 21,000 Accounts Payable Accounts Receviable Rent Expense Unearned Revenue Depreciation Expense Prepaid Insurance Supplies Expense Equipment Accumulated Depreciation - Equipment Cost of Goods Sold Merchandise Inventory Notes Payable Salary Payable Buildings Interest Payable Sales Revenue Interest Expense Supplies Accumulated Depreciation - Buildings Prepaid Insurance Common Stock Retained Earnings Dividends...
Accounts Payable
Accounts Receivable
Accumulated Depreciation - Buildings
Accumulated Depreciation - Equipment
Accumulated Depreciation - Furniture
Accumulated Depreciation - Vehicles
Advertising Expense
Bank Loan Payable
Bank Loan Receivable
Buildings
Cash
Common Shares
Depreciation Expense
Dividends Declared
Equipment
Fees Earned
Furniture
Income Summary
Income Tax Expense
Income Tax Payable
Income Tax Receivable
Insurance Expense
Insurance Revenue
Interest Expense
Interest Payable
Interest Receivable
Interest Revenue
Land
Mortgage Payable
No Entry
Notes Receivable
Office Expense
Prepaid Advertising
Prepaid Expense
Prepaid Insurance
Prepaid Rent...
11. Balance sheet presentation. ccount information for Leong Corporation, prepare a balance sheet in report form for the company as of December 31, 2020. All accounts have not 70,000 2,400 600 2 Equipment Interest Expense Interest Payable Retained Earnings Dividends Land Accounts Receivable Bonds Payable Notes Payable (due in 6 months) Common Stock Accumulated Depreciation - Equip Prepaid Advertising Service Revenue Buildings Supplies Income Taxes Payable Utilities Expense Advertising Expense Salaries and Wages Expense Salaries and Wages Payable Accumulated Depr....
In addition to those accounts listed on the trial balance, the
chart of accounts for Cullumber Company also contains the following
accounts and account numbers: No. 142 Accumulated
Depreciation—Buildings, No. 150 Accumulated Depreciation—Equipment,
No. 212 Salaries and Wages Payable, No. 230 Interest Payable, No.
619 Depreciation Expense, No. 631 Supplies Expense, No. 718
Interest Expense, and No. 722 Insurance Expense. Other data: 1.
Prepaid insurance is a 1-year policy starting May 1, 2020. 2. A
count of supplies shows $700...
33) Using the adjusted trial balance below write the four closing entries necessary to prepare accounts for the beginning of the next accounting period. DODSON CONTAINERS Adjusted Trial Balance December 31 $ 3,050 400 830 80 4,200 $ 1,100 98,000 28,000 115,000 880 1,400 2,200 Cash.... Accounts receivable.......... Prepaid insurance Office supplies ........... Office equipment Accumulated depreciation office equipment ... Buildings.. Accumulated depreciation—buildings.......... Land Wages Payable.............. Property taxes payable... Interest payable............. Unearned rent........... Long-term notes payable........... Common stock ........... •...
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