Homework Answers
Revenue = $18,800
Rent Revenue = $840
Unearned Revenue = $520
Total Revenue = $18,800 + $840 + $520 = $20,160
Utility Expense = $450
Wages Expense = $14,600
Total Expense = $450 + $14,600 = $15,050
Net Income Before Tax = Total Revenue - Total Expense
= 20,160 - 15,050
= $5,110
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$ $ Cash Accounts receivable Supplies Equipment Land Building 6,700 30, 600 1,510 10,500 8,100 27,300...
$ Cash Accounts receivable Supplies Equipment Land Building 7,000 30,600 1,530 10,300 7,400 26,600 Accounts payable...
$ Cash Accounts receivable Supplies Equipment Land Building 7,000 30,600 1,530 10,300 7,400 26,600 Accounts payable Unearned revenue Long-term note payable Common stock Additional paid in capital Retained earnings $ 9,600 3,340 47,600 1,600 6,400 14,890 a. Rebuilt and delivered five pianos in January to customers who paid $18,900 in cash. b. Received a $570 deposit from a customer who wanted her piano rebuilt. c. Rented a part of the building to a bicycle repair shop, received $820 for rent...
Stacey's Piano Rebuilding Company has been operating for one year. At the start of the second...
Stacey's Piano Rebuilding Company has been operating for one year. At the start of the second year, its income statement accounts had zero balances and its balance sheet account balances were as follows: Cash Accounts receivable Supplies Equipment Land Building $ 8.500 42.500 2.550 11,600 9,500 35,800 Accounts payable Uneamed revenue Note payable long-term) Common stock Retained eamings Additional paid in capital $ 11,700 4,680 61.100 2650 8.200 22,060 a. Rebuilt and delivered five planos in January to customers who...
Stacey's Piano Rebuilding Company has been operating for one year. At the start of the second...
Stacey's Piano Rebuilding Company has been operating for one year. At the start of the second year, its income statement accounts had zero balances and its balance sheet account balances were as follows: $ $ Cash Accounts receivable Supplies Equipment Land Building 6,900 30,300 1,520 9,800 8,100 25, 400 Accounts payable Unearned revenue Long-term note payable Common stock Additional paid-in capital Retained earnings 9,600 3,540 47,600 192 768 20,320 a. Rebuilt and delivered five pianos in January to customers who...
Time remainings t. Ordered as utility bill for $420 to be paid in February We 10.00...
Time remainings t. Ordered as utility bill for $420 to be paid in February We 10.00 points Stacey's Plano Rebuilding Company has been operating for one year. At the start of the second or, to income statement accounts had zero balances and its balance sheet account balances were as follows: Cash $ 6.900 Accounts payable $ 9.200 Accounts receivable 30 300 Unearned revenue 3,540 Supplies 1,490 Note payable long-term) 47.200 Equipment 10,400 Common ock 188 Land 7.700 Retained earnings 21,310...
enter the following transactions for january of the second year into the t-account using the letter...
enter the following transactions for january of the second
year into the t-account using the letter of each as the transaction
as reference .
Stacey's Piano Rebuilding Company has been operating for one year. At the start of the second year, its income statement accounts had zero balances and its balance sheet account balances were as follows: $ $ Cash Accounts receivable Supplies Equipment 7,000 30,600 1,530 10,300 7,400 26,600 Accounts payable Unearned revenue Long-term note payable Common stock Additional...
[The following information applies to the questions displayed below.] Stacey's Piano Rebuilding Company has been operating...
[The following information applies to the questions displayed below.] Stacey's Piano Rebuilding Company has been operating for one year. At the start of the second year, its income statement accounts had zero balances and its balance sheet account balances were as follows: Cash $ 6,700 Accounts payable $ 8,800 Accounts receivable 30,700 Unearned revenue 3,140 Supplies 1,540 Long-term note payable 47,600 Equipment 9,600 Common stock 1,640 Land 8,000 Additional paid-in capital 6,560 Building 26,800 Retained earnings 15,600 Rebuilt and delivered...
Check my workCheck My Work button is now disabled Item 2 Item 2 Part 1 of...
Check my workCheck My Work button is now disabled
Item 2
Item 2 Part 1 of 3 10 points
Required information
[The following information applies to the questions
displayed below.]
Stacey's Piano Rebuilding Company has been operating for one
year. At the start of the second year, its income statement
accounts had zero balances and its balance sheet account balances
were as follows:
Cash
$
6,900
Accounts payable
$
8,600
Accounts receivable
30,100
Unearned revenue
3,440
Supplies
1,470
Long-term note...
Stacey's Piano Rebuilding Company has been operating for one year. At the start of the second...
Stacey's Piano Rebuilding Company has been operating for one year. At the start of the second year, its income statement accounts had zero balances and its balance sheet account balances were as follows: $ Cash Accounts receivable Supplies Equipment Land Building 6,900 30,700 1,470 10,100 7,700 24,400 Accounts payable $ Unearned revenue Long-term note payable Common stock Additional paid-in capital Retained earnings 9,200 3,540 47,300 188 20,290 a. Rebuilt and delivered five pianos in January to customers who paid $19,400...
Stacey's Piano Rebuilding Company has been operating for one year (2010). At the start of 2011,...
Stacey's Piano Rebuilding Company has been operating for one year (2010). At the start of 2011, its income statement accounts had zero balances and its balance sheet account balances were as follows: Cash Accounts receivable Supplies Equipment Land Building $ 6,500 Accounts payable 30,500 Unearned fee revenue (deposits) 1,480 Note payable long-term) 9,900 Contributed capital 7.600 Retained earnings 26,800 $ 8.900 3.840 47,600 7.900 14,540 a. Rebuilt and delivered five pianos in January to customers who paid $18.800 in cash....
4. What is net income if Stacey’s used the cash basis of accounting? Stacey's Piano Rebuilding...
4.
What is
net income if Stacey’s used the cash basis of
accounting?
Stacey's Piano Rebuilding Company has been operating for one year. At the start of the second year, its income statement accounts had zero balances and its balance sheet account balances were as follows $ 8,700 3.640 47400 1,580 15120 6,320 $6,600 Accounts payable 30,300 Unearned revenue Cash Accounts receivable Supplios Equipment 1460 Note payable (long term) 10,400 Common stock 7400 Retained earnings Building 26,600 Additional paid-in capital...
$ Cash Accounts receivable Supplies Equipment Land Building 7,000 30,600 1,530 10,300 7,400 26,600 Accounts payable Unearned revenue Long-term note payable Common stock Additional paid in capital Retained earnings $ 9,600 3,340 47,600 1,600 6,400 14,890 a. Rebuilt and delivered five pianos in January to customers who paid $18,900 in cash. b. Received a $570 deposit from a customer who wanted her piano rebuilt. c. Rented a part of the building to a bicycle repair shop, received $820 for rent...
Stacey's Piano Rebuilding Company has been operating for one year. At the start of the second year, its income statement accounts had zero balances and its balance sheet account balances were as follows: Cash Accounts receivable Supplies Equipment Land Building $ 8.500 42.500 2.550 11,600 9,500 35,800 Accounts payable Uneamed revenue Note payable long-term) Common stock Retained eamings Additional paid in capital $ 11,700 4,680 61.100 2650 8.200 22,060 a. Rebuilt and delivered five planos in January to customers who...
Stacey's Piano Rebuilding Company has been operating for one year. At the start of the second year, its income statement accounts had zero balances and its balance sheet account balances were as follows: $ $ Cash Accounts receivable Supplies Equipment Land Building 6,900 30,300 1,520 9,800 8,100 25, 400 Accounts payable Unearned revenue Long-term note payable Common stock Additional paid-in capital Retained earnings 9,600 3,540 47,600 192 768 20,320 a. Rebuilt and delivered five pianos in January to customers who...
Time remainings t. Ordered as utility bill for $420 to be paid in February We 10.00 points Stacey's Plano Rebuilding Company has been operating for one year. At the start of the second or, to income statement accounts had zero balances and its balance sheet account balances were as follows: Cash $ 6.900 Accounts payable $ 9.200 Accounts receivable 30 300 Unearned revenue 3,540 Supplies 1,490 Note payable long-term) 47.200 Equipment 10,400 Common ock 188 Land 7.700 Retained earnings 21,310...
enter the following transactions for january of the second
year into the t-account using the letter of each as the transaction
as reference .
Stacey's Piano Rebuilding Company has been operating for one year. At the start of the second year, its income statement accounts had zero balances and its balance sheet account balances were as follows: $ $ Cash Accounts receivable Supplies Equipment 7,000 30,600 1,530 10,300 7,400 26,600 Accounts payable Unearned revenue Long-term note payable Common stock Additional...
Check my workCheck My Work button is now disabled
Item 2
Item 2 Part 1 of 3 10 points
Required information
[The following information applies to the questions
displayed below.]
Stacey's Piano Rebuilding Company has been operating for one
year. At the start of the second year, its income statement
accounts had zero balances and its balance sheet account balances
were as follows:
Cash
$
6,900
Accounts payable
$
8,600
Accounts receivable
30,100
Unearned revenue
3,440
Supplies
1,470
Long-term note...
Stacey's Piano Rebuilding Company has been operating for one year. At the start of the second year, its income statement accounts had zero balances and its balance sheet account balances were as follows: $ Cash Accounts receivable Supplies Equipment Land Building 6,900 30,700 1,470 10,100 7,700 24,400 Accounts payable $ Unearned revenue Long-term note payable Common stock Additional paid-in capital Retained earnings 9,200 3,540 47,300 188 20,290 a. Rebuilt and delivered five pianos in January to customers who paid $19,400...
Stacey's Piano Rebuilding Company has been operating for one year (2010). At the start of 2011, its income statement accounts had zero balances and its balance sheet account balances were as follows: Cash Accounts receivable Supplies Equipment Land Building $ 6,500 Accounts payable 30,500 Unearned fee revenue (deposits) 1,480 Note payable long-term) 9,900 Contributed capital 7.600 Retained earnings 26,800 $ 8.900 3.840 47,600 7.900 14,540 a. Rebuilt and delivered five pianos in January to customers who paid $18.800 in cash....
4.
What is
net income if Stacey’s used the cash basis of
accounting?
Stacey's Piano Rebuilding Company has been operating for one year. At the start of the second year, its income statement accounts had zero balances and its balance sheet account balances were as follows $ 8,700 3.640 47400 1,580 15120 6,320 $6,600 Accounts payable 30,300 Unearned revenue Cash Accounts receivable Supplios Equipment 1460 Note payable (long term) 10,400 Common stock 7400 Retained earnings Building 26,600 Additional paid-in capital...
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