Homework Answers
Answer: Trumpeter's net income = $3,200
Working:
| Trumpeter Inc | ||
| Income statement | ||
| For the Year Ended | ||
| Revenue | ||
| Service revenue | $ 29,500 | |
| Total Revenue (A) | $ 29,500 | |
| Expenses: | ||
| Salaries expense | $ 5,600 | |
| Miscellaneous expense | $ 20,700 | |
| Total Expense (B) | $ 26,300 | |
| Net Income (A-B) | $ 3,200 | |
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The following table contains financial information for Trumpeter Inc. before closing entries: Cash Supplies Prepaid Rent...
The following table contains financial information for Trumpeter Inc. before closing entries: Cash Supplies Prepaid Rent...
The following table contains financial information for Trumpeter Inc. before closing entries: Cash Supplies Prepaid Rent Salaries Expense Equipment Service Revenue Miscellaneous Expenses Dividends Accounts Payable Common Stock Retained Earnings $12,700 5,400 3,100 5,100 65,200 29,700 21,000 5,000 3,400 67.900 16,500 27:29 Dok "ences What is the amount of Trumpeter's total assets? Multiple Choice < Prev 45 of 50 Next > Taw pe here to search OR
The following table contains financial information for Trumpeter Inc. before closing entries: Cash Supplies Prepaid Rent...
The following table contains financial information for Trumpeter Inc. before closing entries: Cash Supplies Prepaid Rent Salaries Expense Equipment Service Revenue Miscellaneous Expenses Dividends Accounts Payable Common Stock Retained Earnings $13,400 6,300 2,100 4,900 66,900 30,000 20,500 3,200 3,300 66,200 17,800 What is Trumpeter's net income? Multiple Choice Ο Ο 55 10ο Ο $7100 Ο $4,600 Ο Ο 58,100
The following table contains financial information for Trumpeter Inc. before closing entries: Cash Supplies Prepaid Rent...
The following table contains financial information for Trumpeter Inc. before closing entries: Cash Supplies Prepaid Rent Salaries Expense Equipment Service Revenue Miscellaneous Expenses Dividends Accounts Payable Common Stock Retained Earnings $13,400 5,200 2,600 6,100 65,900 29,100 21,900 4,400 4,400 66,200 19,800 What is Trumpeter's net income?
The following table contains financial information for Trumpeter Inc., before closing entries: Cash Supplies Prepaid Rent...
The following table contains financial information for Trumpeter Inc., before closing entries: Cash Supplies Prepaid Rent Salary Expense Equipment Service Revenue Miscellaneous Expenses Dividends Accounts Payable Common Stock Retained Earnings $13,500 4,700 3,300 4,800 66,200 29,700 20,300 3.800 4,300 67,600 15,000 What is Trumpeter's net income? O $5,100 0 $4,600 OOO $6,800 O $7,800
The following table contains financial information for Trumpeter Inc. Cash Supplies Prepaid Rent Salary Expense Equipment...
The following table contains financial information for Trumpeter Inc. Cash Supplies Prepaid Rent Salary Expense Equipment Service Revenue Miscellaneous Expenses Dividends Accounts Payable Common Stock Retained Earnings $13,500 5,600 2,600 5,300 66,700 29,300 21,200 4,100 4,900 67,600 17,200 What is Trumpeter's net income? O $8,700 O $7,700 O $2,800 O $3,300
The following table contains financial information for Trumpter Inc. before closing entries: Cash Supplies Prepaid Rent...
The following table contains financial information for Trumpter Inc. before closing entries: Cash Supplies Prepaid Rent Salaries Expense Equipment Service Revenue Miscellaneous Expenses Dividends Accounts Payable Common Stock Retained Earnings $12,100 6,100 2,900 6,100 65,400 29,300 20,600 4,000 3,900 66,800 17,200 What is the amount of Trumpter's total assets? Ο $83,600 Ο $86,500 Ο $21,100 Ο $153,300
The following table contains financial information for Trumpter Inc before closing entries: Cash Supplies Prepaid Rent...
The following table contains financial information for Trumpter Inc before closing entries: Cash Supplies Prepaid Rent Salaries Expense Equipment Service Revenue Miscellaneous Expenses Dividends Accounts Payable Common Stock Retained Earnings $14,000 5,800 3,900 4,700 67,000 28,900 20,800 4,000 3,400 66,800 21,100 What is the amount of Trumpter's total assets? Multiple Choice O $90.700 O $86,800 O $157,500 0 $23,700
ID ITIL The following table contains financial information for Trumpter Inc. before closing entries: Cash Supplies...
ID ITIL The following table contains financial information for Trumpter Inc. before closing entries: Cash Supplies Prepaid Rent Salaries Expense Equipment Service Revenue Miscellaneous Expenses Dividends Accounts Payable Common Stock Retained Earnings $13,600 6,400 3,600 6,100 65,900 28,900 20,200 3,000 4,100 67,100 18,700 What is the amount of Trumpter's total assets?
A company reports the following balances before closing entries: Cash Supplies Prepaid Rent Salary Expense Equipment...
A company reports the following balances before closing entries: Cash Supplies Prepaid Rent Salary Expense Equipment Service Revenue Miscellaneous Expenses Dividends Accounts Payable Common Stock Retained Earnings $12,000 4,500 2.000 4,500 65.000 30,000 20,000 3,000 5,000 68,000 8,000 What is the amount of ending Retained Earnings reported in the balance sheet?
Eve's Apples opened for business on January 1, 2021, and paid for two insurance policies effective...
Eve's Apples opened for business on January 1, 2021, and paid for two insurance policies effective that date. The liability policy was $64,800 for 18 months, and the crop damage policy was $28,800 for a two-year term. What was the balance in Eve's Prepaid Insurance account as of December 31, 2021? o o o o The following table contains financial information for Trumpeter Inc. before closing entries: Cash Supplies Prepaid Rent Salaries Expense Equipment Service Revenue Miscellaneous Expenses Dividends Accounts...
The following table contains financial information for Trumpeter Inc. before closing entries: Cash Supplies Prepaid Rent Salaries Expense Equipment Service Revenue Miscellaneous Expenses Dividends Accounts Payable Common Stock Retained Earnings $12,700 5,400 3,100 5,100 65,200 29,700 21,000 5,000 3,400 67.900 16,500 27:29 Dok "ences What is the amount of Trumpeter's total assets? Multiple Choice < Prev 45 of 50 Next > Taw pe here to search OR
The following table contains financial information for Trumpeter Inc. before closing entries: Cash Supplies Prepaid Rent Salaries Expense Equipment Service Revenue Miscellaneous Expenses Dividends Accounts Payable Common Stock Retained Earnings $13,400 6,300 2,100 4,900 66,900 30,000 20,500 3,200 3,300 66,200 17,800 What is Trumpeter's net income? Multiple Choice Ο Ο 55 10ο Ο $7100 Ο $4,600 Ο Ο 58,100
The following table contains financial information for Trumpeter Inc. before closing entries: Cash Supplies Prepaid Rent Salaries Expense Equipment Service Revenue Miscellaneous Expenses Dividends Accounts Payable Common Stock Retained Earnings $13,400 5,200 2,600 6,100 65,900 29,100 21,900 4,400 4,400 66,200 19,800 What is Trumpeter's net income?
The following table contains financial information for Trumpeter Inc., before closing entries: Cash Supplies Prepaid Rent Salary Expense Equipment Service Revenue Miscellaneous Expenses Dividends Accounts Payable Common Stock Retained Earnings $13,500 4,700 3,300 4,800 66,200 29,700 20,300 3.800 4,300 67,600 15,000 What is Trumpeter's net income? O $5,100 0 $4,600 OOO $6,800 O $7,800
The following table contains financial information for Trumpeter Inc. Cash Supplies Prepaid Rent Salary Expense Equipment Service Revenue Miscellaneous Expenses Dividends Accounts Payable Common Stock Retained Earnings $13,500 5,600 2,600 5,300 66,700 29,300 21,200 4,100 4,900 67,600 17,200 What is Trumpeter's net income? O $8,700 O $7,700 O $2,800 O $3,300
The following table contains financial information for Trumpter Inc. before closing entries: Cash Supplies Prepaid Rent Salaries Expense Equipment Service Revenue Miscellaneous Expenses Dividends Accounts Payable Common Stock Retained Earnings $12,100 6,100 2,900 6,100 65,400 29,300 20,600 4,000 3,900 66,800 17,200 What is the amount of Trumpter's total assets? Ο $83,600 Ο $86,500 Ο $21,100 Ο $153,300
The following table contains financial information for Trumpter Inc before closing entries: Cash Supplies Prepaid Rent Salaries Expense Equipment Service Revenue Miscellaneous Expenses Dividends Accounts Payable Common Stock Retained Earnings $14,000 5,800 3,900 4,700 67,000 28,900 20,800 4,000 3,400 66,800 21,100 What is the amount of Trumpter's total assets? Multiple Choice O $90.700 O $86,800 O $157,500 0 $23,700
ID ITIL The following table contains financial information for Trumpter Inc. before closing entries: Cash Supplies Prepaid Rent Salaries Expense Equipment Service Revenue Miscellaneous Expenses Dividends Accounts Payable Common Stock Retained Earnings $13,600 6,400 3,600 6,100 65,900 28,900 20,200 3,000 4,100 67,100 18,700 What is the amount of Trumpter's total assets?
A company reports the following balances before closing entries: Cash Supplies Prepaid Rent Salary Expense Equipment Service Revenue Miscellaneous Expenses Dividends Accounts Payable Common Stock Retained Earnings $12,000 4,500 2.000 4,500 65.000 30,000 20,000 3,000 5,000 68,000 8,000 What is the amount of ending Retained Earnings reported in the balance sheet?
Eve's Apples opened for business on January 1, 2021, and paid for two insurance policies effective that date. The liability policy was $64,800 for 18 months, and the crop damage policy was $28,800 for a two-year term. What was the balance in Eve's Prepaid Insurance account as of December 31, 2021? o o o o The following table contains financial information for Trumpeter Inc. before closing entries: Cash Supplies Prepaid Rent Salaries Expense Equipment Service Revenue Miscellaneous Expenses Dividends Accounts...
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