Homework Answers
| Particulars | Amount (in $ ) |
| Credit Balance of Income Statement | $ 92,000 |
| Less: Debit Balance of Income Statement | ($ 79,000) |
| Net Income for the period | $ 13,000 |
|
Option (b) is Correct $ 13,000 Income |
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22. The income statement and balance sheet columns of Iron and Purple Company's worksheet reflect the...
The adjusted trial balance columns of the worksheet for Bridgeport Company are as follows. Complete the...
The adjusted trial balance columns of the worksheet for
Bridgeport Company are as follows.
Complete the worksheet.
Exercise 4-02 The adjusted trial balance columns of the worksheet for Bridgeport Company are as follows. Complete the worksheet. Bridgeport Company Worksheet (Partial) Balance Sheet Adjusted Trial Balance Cr. Income Statement Dr. Cr. Account Titles Dr. Cash 10,600 Accounts Receivable 7,100 Prepaid Rent 2,200 Equipment 23,200 Accumulated Depreciation-Equip. 4,600 Notes Payable 5,900 Accounts Payable 4,800 Common Stock 20,400 Retained Earnings 7,750 Dividends 3,400...
The trial balance columns of the worksheet for Monty at March 31, 2019, are as follows....
The trial balance columns of the worksheet for Monty at March 31, 2019, are as follows. Cr. Monty Worksheet For the Month Ended March 31, 2019 Trial Balance Account Titles Dr. Cash 4,800 Accounts Receivable 3,000 Supplies 2,500 Equipment 11,440 Accumulated Depreciation, 1,300 Equipment Accounts Payable 2,400 Unearned Service Revenue 700 Common Stock 11,020 Retained Earnings 3,100 Dividends 1,100 Service Revenue 6,000 Salaries and Wages Expense 1,300 Miscellaneous Expense 380 24,520 24,520 Other data: 1. A physical count reveals only...
The adjusted trial balance columns of the worksheet for Blue Spruce Company are as follows: Complete...
The adjusted trial balance columns of the worksheet for Blue Spruce Company are as follows: Complete the worksheet Blue Spruce Company Worksheet (Partial) Adjusted Trial Balance Income Statement Balano Account Titles Dr. Cr. Dr. Cr. Dr. Cash 10,000 Accounts Receivable 7.200 Prepaid Rent 2,000 Equipment 22,900 5,000 5,800 Accumulated Depreciation -Equip Notes Payable Accounts Payable Common Stock 5,500 18,040 MacBook Air 5,500 Toyo Accounts Payable Common Stock Retained Earnings 18,040 8.340 Dividends 3,700 15,500 15.500 10.980 700 Service Revenue Salaries...
- / 1 ili View Policies Current Attempt in Progress Baxter Company's worksheet had the following...
- / 1 ili View Policies Current Attempt in Progress Baxter Company's worksheet had the following balances: Income Statement columns, debit of $37.000 and credit of $49,000 and Balance Sheet columns, debit of $85,000 and credit of $73,000. The net income or net loss for the period is O $12,000 net loss. O not determinable from the information O $12.000 net income. O $49,000 net income. Save for Later Attempts: 0 of 1 used Submit Answer
Struggling with this one. Any help would be appreciated! The trial balance columns of the worksheet...
Struggling with this one. Any help would be appreciated!
The trial balance columns of the worksheet using a perpetual inventory system for Marquez Company at June 30, 2017, are as follows. Other data: Operating expenses incurred on account, but not yet recorded, total $1,500, Enter the trial balance on a worksheet and complete the worksheet. MARQUEZ COMPANY Worksheet For the Month Ended June 30, 2017 Adj. Trial Balance Dr. Cr. Account Titles Adjustments Income Statement Trial Balance Dr. Cr. 1,920...
BE7.8 (LO 3) Villar Co. uses special journals and a general journal. Identify the journal in...
BE7.8 (LO 3) Villar Co. uses special journals and a general journal. Identify the journal in which each of the following transactions is recorded. a. Purchased equipment on account. b. Purchased merchandise on account. c. Paid utility expense in cash. d. Sold merchandise on account. VIII. The income statement and balance sheet columns of Pine Company's work sheet reflect the following totals: (9 points) Balance Sheet Income Statement Cr. $100,000 Dr. $20,000 Dr. Cr. $140,000 Totals $60,000 Net Income/Loss Totals
Problem 4-1A The trial balance columns of the worksheet for Bridgeport at March 31, 2019, are...
Problem 4-1A The trial balance columns of the worksheet for Bridgeport at March 31, 2019, are as follows. Bridgeport Worksheet For the Month Ended March 31, 2019 Trial Balance Account Titles Dr. Cr Cash 4,400 Accounts Receivable 3,000 Supplies 1,800 Equipment 10,868 Accumulated Depreciation-Equipment 1,235 Accounts Payable 2,200 Unearned Service Revenue 400 Common Stock 9,203 Retained Earnings 3,000 Dividends 1,000 Service Revenue 7,000 Salaries and Wages Expense 1,500 Miscellaneous Expense 470 23,038 23,038 Other data: 1. A physical count reveals...
Exercise 4-01 The trial balance columns of the worksheet for Riverbed Company at June 30, 2019,...
Exercise 4-01 The trial balance columns of the worksheet for Riverbed Company at June 30, 2019, are as follows. Riverbed Company Worksheet For the Month Ended June 30, 2019 Trial Balance Account Titles Dr. Cr. Cash 2,000 Accounts Receivable 2,700 Supplies 1,900 Accounts Payable 1,000 Unearned Service Revenue 380 Common Stock 2,300 Service Revenue 3,600 Salaries and Wages Expense 510 Miscellaneous Expense 170 7,280 7,280 Other data: 2. 3. A physical count reveals $500 of supplies on hand. $100 of...
The adjusted trial balance columns of the worksheet for Grouper Company are as follows. Complete the...
The adjusted trial balance columns of the worksheet for Grouper
Company are as follows.
Complete the worksheet
Grouper Company Worksheet (Partial) Adjusted Trial Balance Income Statement Balanc Account Titles Dr. Cr. Dr. Cr. Dr. Cash 11,200 Accounts Receivable 7,300 Prepaid Rent 2,400 Equipment 23,100 5,200 5,500 Accumulated Depreciation -Equip. Notes Payable Accounts Payable Common Stock Retained Earnings 4,600 18,900 9,350 Dividends 3,300 Service Revenue 15,700 10,500 700 Salaries and Wages Expense Rent Expense Depreciation Expense Interest Expense Interest Payable 750...
The adjusted trial balance columns of the worksheet for Pharoah Company are as follows. Complete the...
The adjusted trial balance columns of the worksheet for Pharoah Company are as follows. Complete the worksheet PHAROAH COMPANY Worksheet (partial) For the Month Ended April 30, 2020 Income Statement Adjusted Trial Balance Balan Account Titles Dr. Cr. Dr. Cr. Dr. Cash 11,700 Accounts Receivable 7,300 Prepaid Rent 2.000 23,300 5,100 5,800 Equipment Accumulated Depreciation --Equipment Notes Payable Accounts Payable Owner's Capital Owner's Drawings 5.500 28,250 3,400 15,000 10,500 Drawings Service Revenue Salaries and Wages Expense Rent Expense Depreciation Expense...
The adjusted trial balance columns of the worksheet for
Bridgeport Company are as follows.
Complete the worksheet.
Exercise 4-02 The adjusted trial balance columns of the worksheet for Bridgeport Company are as follows. Complete the worksheet. Bridgeport Company Worksheet (Partial) Balance Sheet Adjusted Trial Balance Cr. Income Statement Dr. Cr. Account Titles Dr. Cash 10,600 Accounts Receivable 7,100 Prepaid Rent 2,200 Equipment 23,200 Accumulated Depreciation-Equip. 4,600 Notes Payable 5,900 Accounts Payable 4,800 Common Stock 20,400 Retained Earnings 7,750 Dividends 3,400...
The trial balance columns of the worksheet for Monty at March 31, 2019, are as follows. Cr. Monty Worksheet For the Month Ended March 31, 2019 Trial Balance Account Titles Dr. Cash 4,800 Accounts Receivable 3,000 Supplies 2,500 Equipment 11,440 Accumulated Depreciation, 1,300 Equipment Accounts Payable 2,400 Unearned Service Revenue 700 Common Stock 11,020 Retained Earnings 3,100 Dividends 1,100 Service Revenue 6,000 Salaries and Wages Expense 1,300 Miscellaneous Expense 380 24,520 24,520 Other data: 1. A physical count reveals only...
The adjusted trial balance columns of the worksheet for Blue Spruce Company are as follows: Complete the worksheet Blue Spruce Company Worksheet (Partial) Adjusted Trial Balance Income Statement Balano Account Titles Dr. Cr. Dr. Cr. Dr. Cash 10,000 Accounts Receivable 7.200 Prepaid Rent 2,000 Equipment 22,900 5,000 5,800 Accumulated Depreciation -Equip Notes Payable Accounts Payable Common Stock 5,500 18,040 MacBook Air 5,500 Toyo Accounts Payable Common Stock Retained Earnings 18,040 8.340 Dividends 3,700 15,500 15.500 10.980 700 Service Revenue Salaries...
- / 1 ili View Policies Current Attempt in Progress Baxter Company's worksheet had the following balances: Income Statement columns, debit of $37.000 and credit of $49,000 and Balance Sheet columns, debit of $85,000 and credit of $73,000. The net income or net loss for the period is O $12,000 net loss. O not determinable from the information O $12.000 net income. O $49,000 net income. Save for Later Attempts: 0 of 1 used Submit Answer
Struggling with this one. Any help would be appreciated!
The trial balance columns of the worksheet using a perpetual inventory system for Marquez Company at June 30, 2017, are as follows. Other data: Operating expenses incurred on account, but not yet recorded, total $1,500, Enter the trial balance on a worksheet and complete the worksheet. MARQUEZ COMPANY Worksheet For the Month Ended June 30, 2017 Adj. Trial Balance Dr. Cr. Account Titles Adjustments Income Statement Trial Balance Dr. Cr. 1,920...
BE7.8 (LO 3) Villar Co. uses special journals and a general journal. Identify the journal in which each of the following transactions is recorded. a. Purchased equipment on account. b. Purchased merchandise on account. c. Paid utility expense in cash. d. Sold merchandise on account. VIII. The income statement and balance sheet columns of Pine Company's work sheet reflect the following totals: (9 points) Balance Sheet Income Statement Cr. $100,000 Dr. $20,000 Dr. Cr. $140,000 Totals $60,000 Net Income/Loss Totals
Problem 4-1A The trial balance columns of the worksheet for Bridgeport at March 31, 2019, are as follows. Bridgeport Worksheet For the Month Ended March 31, 2019 Trial Balance Account Titles Dr. Cr Cash 4,400 Accounts Receivable 3,000 Supplies 1,800 Equipment 10,868 Accumulated Depreciation-Equipment 1,235 Accounts Payable 2,200 Unearned Service Revenue 400 Common Stock 9,203 Retained Earnings 3,000 Dividends 1,000 Service Revenue 7,000 Salaries and Wages Expense 1,500 Miscellaneous Expense 470 23,038 23,038 Other data: 1. A physical count reveals...
Exercise 4-01 The trial balance columns of the worksheet for Riverbed Company at June 30, 2019, are as follows. Riverbed Company Worksheet For the Month Ended June 30, 2019 Trial Balance Account Titles Dr. Cr. Cash 2,000 Accounts Receivable 2,700 Supplies 1,900 Accounts Payable 1,000 Unearned Service Revenue 380 Common Stock 2,300 Service Revenue 3,600 Salaries and Wages Expense 510 Miscellaneous Expense 170 7,280 7,280 Other data: 2. 3. A physical count reveals $500 of supplies on hand. $100 of...
The adjusted trial balance columns of the worksheet for Grouper
Company are as follows.
Complete the worksheet
Grouper Company Worksheet (Partial) Adjusted Trial Balance Income Statement Balanc Account Titles Dr. Cr. Dr. Cr. Dr. Cash 11,200 Accounts Receivable 7,300 Prepaid Rent 2,400 Equipment 23,100 5,200 5,500 Accumulated Depreciation -Equip. Notes Payable Accounts Payable Common Stock Retained Earnings 4,600 18,900 9,350 Dividends 3,300 Service Revenue 15,700 10,500 700 Salaries and Wages Expense Rent Expense Depreciation Expense Interest Expense Interest Payable 750...
The adjusted trial balance columns of the worksheet for Pharoah Company are as follows. Complete the worksheet PHAROAH COMPANY Worksheet (partial) For the Month Ended April 30, 2020 Income Statement Adjusted Trial Balance Balan Account Titles Dr. Cr. Dr. Cr. Dr. Cash 11,700 Accounts Receivable 7,300 Prepaid Rent 2.000 23,300 5,100 5,800 Equipment Accumulated Depreciation --Equipment Notes Payable Accounts Payable Owner's Capital Owner's Drawings 5.500 28,250 3,400 15,000 10,500 Drawings Service Revenue Salaries and Wages Expense Rent Expense Depreciation Expense...
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