Homework Answers
Income statement
| Service revenue | 20,000 | |
| Total revenue | 20,000 | |
| Expenses : | ||
| Utilities expenses | 2,000 | |
| Salaries expenses | 1,200 | |
| Total expenses | -3,200 | |
| Net income | $16,800 |
Net income = $16,800
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1. Jackson Services had the following accounts and balances at December 31: Cash Account Debit Credit...
Bologna Lodging had the following accounts and balances as of December 31: Account Debit Credit Cash...
Bologna Lodging had the following accounts and balances as of December 31: Account Debit Credit Cash $ 20,000 Accounts Receivable 2,000 Salaries Expense 500 Accounts Payable $ 4,000 Lodging Revenue 7,000 Utilities Expense 500 Prepaid Insurance 1,400 Supplies 1,500 Common Stock 10,000 Retained Earnings 4,900 Totals $ 25,900 $ 25,900 Using the information in the table, calculate the total assets reported on Bologna's balance sheet for the period.
woud Solutions had the following accounts and balances as of December 31 Account Debit Cre Cash...
woud Solutions had the following accounts and balances as of December 31 Account Debit Cre Cash $20,000 Accounts Receivable 2,000 Salaries Expense 500 Accounts Payable $ 4,000 Lodging Revenue 7,000 Utilities Expense See Prepaid Insurance 1,400 Supplies 1,500 Common Stock 14,980 Totals $25,900 $25,900 PERLE Using the information in the table, calculate the total assets reported on the balance sheet for the period 0 SOO 0 0 0 0
Smiles Entertainment had the following accounts and balances at December 31: Account Debit Credit Cash $...
Smiles Entertainment had the following accounts and balances at December 31: Account Debit Credit Cash $ 10,400 Accounts Receivable 2,080 Prepaid Insurance 2,560 Supplies 1,080 Accounts Payable $ 5,200 Common Stock 4,200 Retained Earnings 940 Service Revenue 7,400 Salaries Expense 540 Utilities Expense 1,080 Totals $ 17,740 $ 17,740 Using the information in the table, calculate the company's reported net income for the period. Multiple Choice $1,180. $10,880. $5,780. $4,120. $4,660.
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Smiles Entertainment had the following accounts and balances at December 31: Credit Debit Account $12,100 2,420...
Smiles Entertainment had the following accounts and balances at December 31: Credit Debit Account $12,100 2,420 3,240 1,420 Cash Accounts Receivable Prepaid Insurance Supplies Accounts Payable $ 6,050 5,050 Common Stock Retained Earnings 1,110 9,100 Service Revenue Salaries Expense 710 Utilities Expense 1,420 $21,310 $21,310 Totals Using the information in the table, calculate the company's reported net income for the period. Multiple Cholce O $1520. O $4,630. O $5.340.
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Following is a list of account balances of Lincoln Lawn Services as of December 31, after...
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Below are the account balances of Bruins Company at the end of November. Accounts Cash Accounts...
Below are the account balances of Bruins Company at the end of November. Accounts Cash Accounts Receivable Supplies Prepaid Rent Equipment Accounts Payable Salaries Payable Interest Payable Deferred Revenue Notes Payable Balances Accounts $ 40,000 Common Stock 50,000 Retained Earnings 1,100 Dividends 3,000 Service Revenue Salaries Expense 17,000 Rent Expense 5,000 Interest Expense 3,000 Supplies Expense 9,000 Utilities Expense 30,000 Balances $50,000 35,000 1,100 65,000 30,000 12,000 3,000 7,000 6,000 Required: Prepare a trial balance by placing amounts in the...
Excel Trainers, Inc. Worksheet Month Ended January 31 Adjustments Debit Credit 2009 Adjusted Trial Balance Debit...
Excel Trainers, Inc. Worksheet Month Ended January 31 Adjustments Debit Credit 2009 Adjusted Trial Balance Debit Credit Trial Balance Debit Credit 60,000 10,000 19,000 36,000 64,000 5,000 12,000 30,000 3,000 Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Dep. - Equipment Accounts Payable Notes Payable Unearned Revenue Interest Payable Salaries Payable Common Stock Retained Earnings Service Income Salaries Expense Insurance Expense Depreciation Expense Supplies Expense Utilities Expense Interest Expense Totals 96,000 7,000 70,000 28,000 2002 1800 6,000 150g report. i)...
woud Solutions had the following accounts and balances as of December 31 Account Debit Cre Cash $20,000 Accounts Receivable 2,000 Salaries Expense 500 Accounts Payable $ 4,000 Lodging Revenue 7,000 Utilities Expense See Prepaid Insurance 1,400 Supplies 1,500 Common Stock 14,980 Totals $25,900 $25,900 PERLE Using the information in the table, calculate the total assets reported on the balance sheet for the period 0 SOO 0 0 0 0
Centurion Co. had the following accounts and balances at December 31: Account Cash Accounts Receivable Prepaid Insurance Supplies Accounts Payable T. Happy, Capital Service Revenue Salaries Expense Utilities Expense Totals Debit Credit $11,000 2,200 2,800 1,200 $ 5,500 5,500 8,000 600 1,200 $19,000 $19,000 Using the information in the table, calculate the company's reported net income for the period. Multiple Choice 0 O $1,300 0 $4,300 0 O $4,900 0 O $11.600
Smiles Entertainment had the following accounts and balances at December 31: Credit Debit Account $12,100 2,420 3,240 1,420 Cash Accounts Receivable Prepaid Insurance Supplies Accounts Payable $ 6,050 5,050 Common Stock Retained Earnings 1,110 9,100 Service Revenue Salaries Expense 710 Utilities Expense 1,420 $21,310 $21,310 Totals Using the information in the table, calculate the company's reported net income for the period. Multiple Cholce O $1520. O $4,630. O $5.340.
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Below are the account balances of Bruins Company at the end of November. Accounts Cash Accounts Receivable Supplies Prepaid Rent Equipment Accounts Payable Salaries Payable Interest Payable Deferred Revenue Notes Payable Balances Accounts $ 40,000 Common Stock 50,000 Retained Earnings 1,100 Dividends 3,000 Service Revenue Salaries Expense 17,000 Rent Expense 5,000 Interest Expense 3,000 Supplies Expense 9,000 Utilities Expense 30,000 Balances $50,000 35,000 1,100 65,000 30,000 12,000 3,000 7,000 6,000 Required: Prepare a trial balance by placing amounts in the...
Excel Trainers, Inc. Worksheet Month Ended January 31 Adjustments Debit Credit 2009 Adjusted Trial Balance Debit Credit Trial Balance Debit Credit 60,000 10,000 19,000 36,000 64,000 5,000 12,000 30,000 3,000 Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Dep. - Equipment Accounts Payable Notes Payable Unearned Revenue Interest Payable Salaries Payable Common Stock Retained Earnings Service Income Salaries Expense Insurance Expense Depreciation Expense Supplies Expense Utilities Expense Interest Expense Totals 96,000 7,000 70,000 28,000 2002 1800 6,000 150g report. i)...
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