1.
determine the total assets ?
2. Adjusting entries are required at the end of the accounting period in order to fulfill the _____ principle.
a.matching
b.objectivity
c.business entity
d.going concern
3. Under the revenue recognition principle, revenues are recorded______
a.when earned or when cash is received, depending on which occurs first
b.when cash is received
c.when earned
d.in the same period as related expenses
Homework Answers
1.
Total assets:
= $6,530 + $2,100 + $700 + $13,700
= $23,030
2.
Incomes and expenses are recorded in the period in which they are incurred irrespective of cash receipt or payment.
a. matching
3.
Under revenue recognition principle revenue is recorded when it is earned irrespect of cash receipt.
c. when earned
Add Answer to:
1.
determine the total assets ?
2. Adjusting entries are required at the end of the...
Use the adjusted trial balance for Stockton Company to answer the question that follows. Stockton Company...
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Use the adjusted trial balance for Stockton Company below to answer the questions that follow- Stockton Company Adjusted Trial Balance December 31 7,530 2,100 700 13,700 Cash Accounts Receivable Prepaid Expenses Equipment Accumulated Depreciation Accounts Payable Notes Payable Common Stock Retained Earnings Dividends Fees Earned Wages Expense Rent Expense Utilities Expense Depreciation Expense Miscellaneous Expense Totals 1,100 1,900 4,300 1,000 12,940 790) 9,250 2,500 1,960 775 250 185 30,490 30.490 6. Determine the net income (loss) for the period. a....
Use the adjusted trial balance for Stockton Company below to answer the questions that follow. Stockton...
Use the adjusted trial balance for Stockton Company below to answer the questions that follow. Stockton Company Adjusted Trial Balance December 31 7,530 2,100 700 13,700 Cash Accounts Receivable Prepaid Expenses Equipment Accumulated Depreciation Accounts Payable Notes Payable Common Stock Retained Earnings Dividends Fees Earned Wages Expense Rent Expense Utilities Expense Depreciation Expense Miscellaneous Expense Totals 1.100 1,900 4,300 1,000 12,940 790 9,250 2,500 1,960 775 250| 185 30,490 30,490 9. Determine the total liabilities for the period. a. $1,900...
A v2.ceng genow.com CU + Cannot Open Page Cengage CengageNOWV2 Online tea Calculator December 31 Account...
A v2.ceng genow.com CU + Cannot Open Page Cengage CengageNOWV2 Online tea Calculator December 31 Account No. Debit Balances Credit Balances Cash 116 ,530 Accounts Receivable 12 2.100 Prepaid Expenses 13 7 00 Equipment 18 13.700 Accumulated Depreciation 19 1.100 Accounts Payable 21 1.900 Notes Payable Bob Steely, Capital 31 1 12.940 Bob Steely, Drawing 32 790 Fees Eamed 9.250 Wages Expense 2.500 Rent Expense 1,960 Utilities Expense 775 Depreciation Expense 250 Miscellaneous Expense 185 Totals | 29.490 29.490 Use...
d. the final guies will below to answer the questions that for Use the adjusted trial...
d. the final guies will below to answer the questions that for Use the adjusted trial balance for Stockton Company below to answer th Stockton Company Adjusted Trial Balance December 31 7,530) 2,100 700 13,700 1 1,100 1,900 4,300 1,000 12,940 790 Cash Accounts Receivable Prepaid Expenses Equipment Accumulated Depreciation Accounts Payable Notes Payable Common Stock Retained Earnings Dividends Fees Earned Wages Expense Rent Expense Utilities Expense Depreciation Expense Miscellaneous Expense Totals 9,250 2,500 1,960 7751 - 250 185 30,490...
Calculator Use the adjusted trial balance for Stockton Company to answer the question that follows Stockton...
Calculator Use the adjusted trial balance for Stockton Company to answer the question that follows Stockton Company Adjusted Trial Balance December 31 Accoun / / / / / / / / / / / / / 1,359 / Account Debit Credit I No. Balances Balances Cash 1 5,992 Accounts Receivable 2,578 Prepaid Expenses Equipment 18 3,723 Accumulated Depreciation Accounts Payable 21 1,731 Notes Payable 5.827 Bob Steely, Capital 10,589 Bob Steely, Drawing Fees Eamed Wages Expense 2,067 Rent Expense 887...
Use the adjusted trial balance for Stockton Company below to answer the questions that follow. Stockton...
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Prepare the Income Statement, the Statement of Stockholders Equity, the Classified Balance Sheet, and the Closing...
Prepare the Income Statement, the Statement of Stockholders Equity,
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Use the adjusted trial balance for Stockton Company below to answer the question that follow. Stockton...
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Use the adjusted trial balance for Stockton Company to answer the question that follows. Stockton Company Adjusted Trial Balance December 31 Account No. Debit Balances Credit Balances HA ge 2,100 700 13,700 Accounts Receivable Prepaid Expenses Equipment Accumulated Depreciation Accounts Payable Notes Payable Bob Steely, Capital Bob Steely, Drawing Fees Earned Wages Expense Rent Expense Utilities Expense Depreciation Expense Miscellaneous Expense Totals IIIIIIIIIII 1,100 1,900 4,300 12,940 790 9,250 2,500 1,960 775 250 59 185 29.490 29.490 Use the adjusted...
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Use the adjusted trial balance for Stockton Company below to answer the questions that follow. Stockton Company Adjusted Trial Balance December 31 7,530 2,100 700 13,700 Cash Accounts Receivable Prepaid Expenses Equipment Accumulated Depreciation Accounts Payable Notes Payable Common Stock Retained Earnings Dividends Fees Earned Wages Expense Rent Expense Utilities Expense Depreciation Expense Miscellaneous Expense Totals 1.100 1,900 4,300 1,000 12,940 790 9,250 2,500 1,960 775 250| 185 30,490 30,490 9. Determine the total liabilities for the period. a. $1,900...
A v2.ceng genow.com CU + Cannot Open Page Cengage CengageNOWV2 Online tea Calculator December 31 Account No. Debit Balances Credit Balances Cash 116 ,530 Accounts Receivable 12 2.100 Prepaid Expenses 13 7 00 Equipment 18 13.700 Accumulated Depreciation 19 1.100 Accounts Payable 21 1.900 Notes Payable Bob Steely, Capital 31 1 12.940 Bob Steely, Drawing 32 790 Fees Eamed 9.250 Wages Expense 2.500 Rent Expense 1,960 Utilities Expense 775 Depreciation Expense 250 Miscellaneous Expense 185 Totals | 29.490 29.490 Use...
d. the final guies will below to answer the questions that for Use the adjusted trial balance for Stockton Company below to answer th Stockton Company Adjusted Trial Balance December 31 7,530) 2,100 700 13,700 1 1,100 1,900 4,300 1,000 12,940 790 Cash Accounts Receivable Prepaid Expenses Equipment Accumulated Depreciation Accounts Payable Notes Payable Common Stock Retained Earnings Dividends Fees Earned Wages Expense Rent Expense Utilities Expense Depreciation Expense Miscellaneous Expense Totals 9,250 2,500 1,960 7751 - 250 185 30,490...
Calculator Use the adjusted trial balance for Stockton Company to answer the question that follows Stockton Company Adjusted Trial Balance December 31 Accoun / / / / / / / / / / / / / 1,359 / Account Debit Credit I No. Balances Balances Cash 1 5,992 Accounts Receivable 2,578 Prepaid Expenses Equipment 18 3,723 Accumulated Depreciation Accounts Payable 21 1,731 Notes Payable 5.827 Bob Steely, Capital 10,589 Bob Steely, Drawing Fees Eamed Wages Expense 2,067 Rent Expense 887...
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Prepare the Income Statement, the Statement of Stockholders Equity,
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