Homework Answers
Current assets:
= Cash + Supplies + Accounts receivable + Inventory
= $28,000 + $33,000 + $44,000 + $64,000
= $169,000
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A9-jY Corporation reported the following account balances at December 31, 2029: Depreciation Expense Copyright Gain on...
A9-JY Corporation reported the following account balances at December 31, 2029: Depreciation Expense Copyright Gain on...
A9-JY Corporation reported the following account balances at December 31, 2029: Depreciation Expense Copyright Gain on Sale of Building Dividends Utilities Payable Rental Revenue Income Tax Expense Cash Utilities Expense Accumulated Depreciation Supplies Retained Earnings Unearned Revenue Cost of Goods Sold Accounts Receivable Accounts Payable Land Notes Payable Inventory Common Stock Equipment Sales Revenue $14,000 $16,000 $18,000 $19,000 $20,000 $23,000 $24,000 $28,000 $31,000 $32,000 $33,000 $41,000 (at January 1, 2029) $42,000 $43,000 $44,900 $49,800 $56,000 $60,000 $64,000 $72,000 $79,000 $94,800...
A9-JY Corporation reported the following account balances at December 31, 2029: Depreciation Expense Copyright Gain on...
A9-JY Corporation reported the following account balances at December 31, 2029: Depreciation Expense Copyright Gain on Sale of Building Dividends Utilities Payable Rental Revenue Income Tax Expense Cash Utilities Expense Accumulated Depreciation Supplies Retained Earnings Unearned Revenue Cost of Goods Sold Accounts Receivable Accounts Payable Land Notes Payable Inventory Common Stock Equipment Sales Revenue $14,000 $16,800 $18,000 $19,000 $20,000 $23,990 $24,800 $28,000 $31,000 $32,800 $33,000 $41,000 (at January 1, 2029) $42.000 $43,000 S44,000 $49,000 $56,000 $60,000 564,000 $72,000 $79,900 $94.000...
JYF Company's accounting records at December 31, 2022 reported the following account balances: Cash $25,000 Retained...
JYF Company's accounting records at December 31, 2022 reported
the following account balances:
Cash $25,000
Retained Earnings $53,000 (at January 1, 2022)
Prepaid Insurance $18,000
Advertising Expense $22,000
Cost of Goods Sold $29,000
Interest Revenue $31,000
Copyright $28,000
Supplies $12,000
Accounts Receivable $51,000
Common Stock $91,000
Accounts Payable $50,000
Patent $21,000
Notes Payable $86,000 (due March 1, 2023)
Income Tax Expense $21,000
Inventory $59,000
Building $34,000
Salaries Expense $14,000
Sales Revenue $79,000
Dividends $11,000
Equipment $45,000
Calculate JYF Company's total...
JYF Company's accounting records at December 31, 2022 reported the following account balances: Cash $25,000 Retained...
JYF Company's accounting records at December 31, 2022 reported
the following account balances:
Cash $25,000
Retained Earnings $53,000 (at January 1, 2022)
Prepaid Insurance $18,000
Advertising Expense $22,000
Cost of Goods Sold $29,000
Interest Revenue $31,000
Copyright $28,000
Supplies $12,000
Accounts Receivable $51,000
Common Stock $91,000
Accounts Payable $50,000
Patent $21,000
Notes Payable $86,000 (due March 1, 2023)
Income Tax Expense $21,000
Inventory $59,000
Building $34,000
Salaries Expense $14,000
Sales Revenue $79,000
Dividends $11,000
Equipment $45,000
Calculate JYF Company's total...
The following account balances were taken from DJR Company’s accounting records at December 31, 2021: Accounts...
The following account balances were taken from DJR Company’s
accounting records at December 31, 2021:
Accounts Payable ............ $69,000
Accounts Receivable ......... $56,000
Advertising Expense ......... $33,000
Building .................... $94,000
Cash ........................ $31,000
Common Stock ................ $82,000
Cost of Goods Sold .......... $30,000
Dividends ................... $19,000
Equipment ................... $86,000
Income Tax Expense .......... $17,000
Interest Expense ............ $11,000
Inventory ................... $54,000
Notes Payable ............... $96,000
Rental Revenue .............. $62,000
Retained Earnings ........... $60,000 (at January 1, 2021)
Salaries Expense ...............
Company reported the following account balances at December 31, 2026: Utilities Expense $33,000 Inventory $47,000 Unearned...
Company reported the following account balances at December 31, 2026: Utilities Expense $33,000 Inventory $47,000 Unearned Revenue $35,000 Retained Earnings $52,000 (at January 1, 2026) Income Tax Expense $24,000 Accounts Payable $51,000 Cost of Goods Sold $38,000 Cash $21,000 Utilities Payable $19,000 Common Stock $71,000 Building $74,000 Service Revenue $55,000 Accounts Receivable $69,000 Equipment $61,000 Sales Revenue $96,000 Dividends $17,000 Patent $42,000 Notes Payable $88,000 Loss on Sale of Land $26,000 Supplies $15,000 Calculate : gross profit reported by Company...
JYF Company's accounting records at December 31, 2022 reported the following account balances: Cash $25,000 Retained...
JYF Company's accounting records at December 31, 2022 reported the following account balances: Cash $25,000 Retained Earnings $53,000 (at January 1, 2022) Prepaid Insurance $18,000 Advertising Expense $22,000 Cost of Goods Sold $29,000 Interest Revenue $31,000 Copyright $28,000 Supplies $12,000 Accounts Receivable $51,000 Common Stock $91,000 Accounts Payable $50,000 Patent $21,000 Notes Payable $86,000 (due March 1, 2023) Income Tax Expense $21,000 Inventory $59,000 Building $34,000 Salaries Expense $14,000 Sales Revenue $79,000 Dividends $11,000 Equipment $45,000 Calculate JYF Company's total...
The following account balances were taken from DJR Company’s accounting records at December 31, 2021: Accounts...
The following account balances were taken from DJR Company’s
accounting records at December 31, 2021:
Accounts Payable ............ $69,000
Accounts Receivable ......... $56,000
Advertising Expense ......... $33,000
Building .................... $94,000
Cash ........................ $31,000
Common Stock ................ $82,000
Cost of Goods Sold .......... $30,000
Dividends ................... $19,000
Equipment ................... $86,000
Income Tax Expense .......... $17,000
Interest Expense ............ $11,000
Inventory ................... $54,000
Notes Payable ............... $96,000
Rental Revenue .............. $62,000
Retained Earnings ........... $60,000 (at January 1, 2021)
Salaries Expense ...............
The following are the ending balances of accounts at December 31, 2021. for the Valley Pump...
The following are the ending balances of accounts at December 31, 2021. for the Valley Pump Corporation Account Title Cash Accounts receivable Inventory Interest payable Investment in equity securities Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment Copyright (net) Prepaid expenses (next 12 months) Accounts payable Deferred revenue (next 12 months) Notes payable Allowance for uncollectible accounts Common stock Retained earnings Totals Debits Credits 44,000 94,000 119,000 $ 29,000 82,000 158,000 395,000 119,000 113,000 44,000 31,000 51,000 84,000 39,000 345,000 6,000...
THE Company reported the following account balances at December 31, 2026: |||Utilities Expense $33,000||| |||Inventory $47,000|||...
THE Company reported the following account balances at December 31, 2026: |||Utilities Expense $33,000||| |||Inventory $47,000||| |||Unearned Revenue $35,000||| |||Retained Earnings $52,000||| (at January 1, 2026) |||Income Tax Expense $24,000||| |||Accounts Payable $51,000||| |||Cost of Goods Sold $38,000||| |||Cash $21,000||| |||Utilities Payable $19,000||| |||Common Stock $71,000||| |||Building $74,000||| |||Service Revenue $55,000||| |||Accounts Receivable $69,000||| |||Equipment $61,000||| |||Sales Revenue $96,000||| |||Dividends $17,000||| |||Patent $42,000||| |||Notes Payable $88,000||| |||Loss on Sale of Land $26,000||| |||Supplies $15,000||| Calculate the amount of gross profit...
A9-JY Corporation reported the following account balances at December 31, 2029: Depreciation Expense Copyright Gain on Sale of Building Dividends Utilities Payable Rental Revenue Income Tax Expense Cash Utilities Expense Accumulated Depreciation Supplies Retained Earnings Unearned Revenue Cost of Goods Sold Accounts Receivable Accounts Payable Land Notes Payable Inventory Common Stock Equipment Sales Revenue $14,000 $16,000 $18,000 $19,000 $20,000 $23,000 $24,000 $28,000 $31,000 $32,000 $33,000 $41,000 (at January 1, 2029) $42,000 $43,000 $44,900 $49,800 $56,000 $60,000 $64,000 $72,000 $79,000 $94,800...
A9-JY Corporation reported the following account balances at December 31, 2029: Depreciation Expense Copyright Gain on Sale of Building Dividends Utilities Payable Rental Revenue Income Tax Expense Cash Utilities Expense Accumulated Depreciation Supplies Retained Earnings Unearned Revenue Cost of Goods Sold Accounts Receivable Accounts Payable Land Notes Payable Inventory Common Stock Equipment Sales Revenue $14,000 $16,800 $18,000 $19,000 $20,000 $23,990 $24,800 $28,000 $31,000 $32,800 $33,000 $41,000 (at January 1, 2029) $42.000 $43,000 S44,000 $49,000 $56,000 $60,000 564,000 $72,000 $79,900 $94.000...
JYF Company's accounting records at December 31, 2022 reported
the following account balances:
Cash $25,000
Retained Earnings $53,000 (at January 1, 2022)
Prepaid Insurance $18,000
Advertising Expense $22,000
Cost of Goods Sold $29,000
Interest Revenue $31,000
Copyright $28,000
Supplies $12,000
Accounts Receivable $51,000
Common Stock $91,000
Accounts Payable $50,000
Patent $21,000
Notes Payable $86,000 (due March 1, 2023)
Income Tax Expense $21,000
Inventory $59,000
Building $34,000
Salaries Expense $14,000
Sales Revenue $79,000
Dividends $11,000
Equipment $45,000
Calculate JYF Company's total...
JYF Company's accounting records at December 31, 2022 reported
the following account balances:
Cash $25,000
Retained Earnings $53,000 (at January 1, 2022)
Prepaid Insurance $18,000
Advertising Expense $22,000
Cost of Goods Sold $29,000
Interest Revenue $31,000
Copyright $28,000
Supplies $12,000
Accounts Receivable $51,000
Common Stock $91,000
Accounts Payable $50,000
Patent $21,000
Notes Payable $86,000 (due March 1, 2023)
Income Tax Expense $21,000
Inventory $59,000
Building $34,000
Salaries Expense $14,000
Sales Revenue $79,000
Dividends $11,000
Equipment $45,000
Calculate JYF Company's total...
The following account balances were taken from DJR Company’s
accounting records at December 31, 2021:
Accounts Payable ............ $69,000
Accounts Receivable ......... $56,000
Advertising Expense ......... $33,000
Building .................... $94,000
Cash ........................ $31,000
Common Stock ................ $82,000
Cost of Goods Sold .......... $30,000
Dividends ................... $19,000
Equipment ................... $86,000
Income Tax Expense .......... $17,000
Interest Expense ............ $11,000
Inventory ................... $54,000
Notes Payable ............... $96,000
Rental Revenue .............. $62,000
Retained Earnings ........... $60,000 (at January 1, 2021)
Salaries Expense ...............
The following account balances were taken from DJR Company’s
accounting records at December 31, 2021:
Accounts Payable ............ $69,000
Accounts Receivable ......... $56,000
Advertising Expense ......... $33,000
Building .................... $94,000
Cash ........................ $31,000
Common Stock ................ $82,000
Cost of Goods Sold .......... $30,000
Dividends ................... $19,000
Equipment ................... $86,000
Income Tax Expense .......... $17,000
Interest Expense ............ $11,000
Inventory ................... $54,000
Notes Payable ............... $96,000
Rental Revenue .............. $62,000
Retained Earnings ........... $60,000 (at January 1, 2021)
Salaries Expense ...............
The following are the ending balances of accounts at December 31, 2021. for the Valley Pump Corporation Account Title Cash Accounts receivable Inventory Interest payable Investment in equity securities Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment Copyright (net) Prepaid expenses (next 12 months) Accounts payable Deferred revenue (next 12 months) Notes payable Allowance for uncollectible accounts Common stock Retained earnings Totals Debits Credits 44,000 94,000 119,000 $ 29,000 82,000 158,000 395,000 119,000 113,000 44,000 31,000 51,000 84,000 39,000 345,000 6,000...
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