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800 Problem 2 - (worth 5 Points) 2. Following is a list of account balances (except...
Following is a random list showing the account balances of various assets, liabilities, revenues, and expenses...
Following is a random list showing the account balances of various assets, liabilities, revenues, and expenses for Spiffy's Garage at December 31, 2019, the end of its first year of operations. E: (Click the icon to view the account balances.) The owner, Spiffy Sloan, invested $22,600 at the beginning of the year and withdrew $5,000 during the year for personal use Owner's equity at December 31, 2019. was 8 O A. $22.700 OB. $13.900 OC. $22.600 OD. $18,700 8 X...
Adam Vega's Landscaping Company has compiled the following list of account balances of various assets, liabilities,...
Adam Vega's Landscaping Company has compiled the following list of account balances of various assets, liabilities, revenues and expenses on December 31, 2016, the end of its first year of operations. Common stock $25,200, Accounts payable 5,000 Salary expense 9,000 Repairs expense 1,600 Dividends 10,000 Truck 17,000 Equipment 12,600 Notes payable 16,400 Cash 35,200 Supplies expense 3,200 Service revenue 43,600 Gasoline expense 1,600 The stockholders' equity for Adam Vega's Landscaping on December 31, 2013 is: Select one: A. $55,400 B....
Adam Vega's Landscaping Company has compiled the following list of account balances of various assets, liabilities,...
Adam Vega's Landscaping Company has compiled the following list of account balances of various assets, liabilities, revenues and expenses on December 31, 2016, the end of its first year of operations. Common stock Accounts payable Salary expense Repairs expense Dividends Truck Equipment Notes payable Cash Supplies expense Service revenue Gasoline expense $25,200 5,000 9,000 1,600 10,000 17,000 12,600 16,400 35,200 3,200 43,600 1,600 4. The total liabilities for Adam Vega's Landscaping on December 31, 2016 are (Note: There are 2...
Chapter 1 Adam Vega's Landscaping company hos compiled the following list of account balances of various...
Chapter 1 Adam Vega's Landscaping company hos compiled the following list of account balances of various assests, liabilities, revenues and expenses on December 31, 2016, the end of its first year of operations. Common stock #25, 200 Notes payable 16,400 Accounts payable 5,000 Cash 35,000 Salary expense 9,000 Supplies expense 3,200 Repairs expense 1,600 Service revenue 43,60 Dividends 10,000 Gasoline expense 1,600 Truck 17,000 Equipment 12, 600 (4) The total liabihtes for Adam Vega's Landscaping Dec 31, 2016 ore (Note:...
700 Following is a list of account balances of Nabers Delivery Services as of December 31,...
700 Following is a list of account balances of Nabers Delivery Services as of December 31, after the first year of operations. Accounts Receivable $4,000 Accounts Payable 7,000 Salaries Expense 7,000 Repairs Expense Truck 12,000 Equipment 11,000 Notes Payable 8.200 Cash 7,300 Supplies Expense 1,300 Service Revenue 34,000 Gasoline Expense 3,000 Salaries Payable 300 What is the amount of total liabilities at the end of the Year O A. $15,500 O B. $24.500 C. 515,200 OD. $27,500 Click to select...
Accounts Payable Salaries Expense Repairs Expense Truck Equipment Notes Payable Cash Supplies Expense Service Revenue Gasoline...
Accounts Payable Salaries Expense Repairs Expense Truck Equipment Notes Payable Cash Supplies Expense Service Revenue Gasoline Expense Salaries Payable 4,000 6,000 700 10,000 9,000 8,200 7,100 1,600 34,000 3,900 DO What is the amount of total liabilities at the end of the year? A. $24,600 B. $20,700 C. $12,400 OD. $12,200
Problem 3 - (worth 5 Points) 3) For each of the following items, indicate whether a...
Problem 3 - (worth 5 Points) 3) For each of the following items, indicate whether a debit (dr.) or credit (er.) causes the account to decrease. Accounts receivable _Accounts payable _Equipment Capital _Notes Payable Salary payable _Building Supplies Interest payable Furniture For each of the following items, indicate whether the normal balance is a debit (dr.) or credit (er.) Cash Service Revenue Land Owner's Withdrawals _Notes Receivable Salary Expense _Notes Payable Supplies Expense Interest Expense Furniture
Exercise 4-11 Preparing financial statements LO C3 The following adjusted year-end trial balance at December 31...
Exercise 4-11 Preparing financial statements LO C3 The following adjusted year-end trial balance at December 31 of Wilson Trucking Company. Account Title Debit Credit Cash $ 6,300 Accounts receivable 16,500 office supplies 2,000 Trucks 174,000 Accumulated depreciation-Trucks $ 35,844 Land 75,000 Accounts payable 10,300 Interest payable 3,000 Long-term notes payable 52,000 x. Wilson, Capital 154, 193 x. Wilson, withdrawals 19,000 Trucking fees earned 148,500 Depreciation expense 23,119 Trucks Salaries expense 69,647 Office supplies expense 5,500 Repairs expense Trucks 12,771 Totals...
Following is a list of account balances of Lincoln Lawn Services as of December 31, after...
Following is a list of account balances of Lincoln Lawn Services as of December 31, after the first year of operations. Accounts Receivable $6,000 Accounts Payable $5,000 Salaries Expense $7,000 Repairs Expense $900 Truck $11,000 Equipment $12,000 Notes Payable $26,100 Cash $20,000 Supplies Expense $200 Service Revenue $32,000 Gasoline Expense $7,200 Salaries Payable $1,200 Calculate the net income. A. $49,000 B. $31,100 C. $16,700 D. $17,900
Problem 7 – (worth 10 Points) 7.) The following work sheet is for Tuttle Photography, a...
Problem 7 – (worth 10 Points) 7.) The following work sheet is for Tuttle Photography, a proprietorship. Tuttle Photography Work Sheet For the Year Ended December 31, 2011 Accounts Debit Credit Cash 15,000 Accounts receivable 30,000 Prepaid insurance 7,500 Office supplies 3,200 Land 40,000 Building 160,000 Accumulated depreciation 12,000 Equipment 75,000 Accumulated depreciation 8,500 Accounts payable 12,000 Salaries payable 12,000 Unearned service revenue 25,000 Mortgage payable 100,000 Capital 11,290 Withdrawals 23,000 Service revenue 289,000 Salaries expense 61,000 Depreciation expense 6,150...
Following is a random list showing the account balances of various assets, liabilities, revenues, and expenses for Spiffy's Garage at December 31, 2019, the end of its first year of operations. E: (Click the icon to view the account balances.) The owner, Spiffy Sloan, invested $22,600 at the beginning of the year and withdrew $5,000 during the year for personal use Owner's equity at December 31, 2019. was 8 O A. $22.700 OB. $13.900 OC. $22.600 OD. $18,700 8 X...
Adam Vega's Landscaping Company has compiled the following list of account balances of various assets, liabilities, revenues and expenses on December 31, 2016, the end of its first year of operations. Common stock Accounts payable Salary expense Repairs expense Dividends Truck Equipment Notes payable Cash Supplies expense Service revenue Gasoline expense $25,200 5,000 9,000 1,600 10,000 17,000 12,600 16,400 35,200 3,200 43,600 1,600 4. The total liabilities for Adam Vega's Landscaping on December 31, 2016 are (Note: There are 2...
Chapter 1 Adam Vega's Landscaping company hos compiled the following list of account balances of various assests, liabilities, revenues and expenses on December 31, 2016, the end of its first year of operations. Common stock #25, 200 Notes payable 16,400 Accounts payable 5,000 Cash 35,000 Salary expense 9,000 Supplies expense 3,200 Repairs expense 1,600 Service revenue 43,60 Dividends 10,000 Gasoline expense 1,600 Truck 17,000 Equipment 12, 600 (4) The total liabihtes for Adam Vega's Landscaping Dec 31, 2016 ore (Note:...
700 Following is a list of account balances of Nabers Delivery Services as of December 31, after the first year of operations. Accounts Receivable $4,000 Accounts Payable 7,000 Salaries Expense 7,000 Repairs Expense Truck 12,000 Equipment 11,000 Notes Payable 8.200 Cash 7,300 Supplies Expense 1,300 Service Revenue 34,000 Gasoline Expense 3,000 Salaries Payable 300 What is the amount of total liabilities at the end of the Year O A. $15,500 O B. $24.500 C. 515,200 OD. $27,500 Click to select...
Accounts Payable Salaries Expense Repairs Expense Truck Equipment Notes Payable Cash Supplies Expense Service Revenue Gasoline Expense Salaries Payable 4,000 6,000 700 10,000 9,000 8,200 7,100 1,600 34,000 3,900 DO What is the amount of total liabilities at the end of the year? A. $24,600 B. $20,700 C. $12,400 OD. $12,200
Problem 3 - (worth 5 Points) 3) For each of the following items, indicate whether a debit (dr.) or credit (er.) causes the account to decrease. Accounts receivable _Accounts payable _Equipment Capital _Notes Payable Salary payable _Building Supplies Interest payable Furniture For each of the following items, indicate whether the normal balance is a debit (dr.) or credit (er.) Cash Service Revenue Land Owner's Withdrawals _Notes Receivable Salary Expense _Notes Payable Supplies Expense Interest Expense Furniture
Exercise 4-11 Preparing financial statements LO C3 The following adjusted year-end trial balance at December 31 of Wilson Trucking Company. Account Title Debit Credit Cash $ 6,300 Accounts receivable 16,500 office supplies 2,000 Trucks 174,000 Accumulated depreciation-Trucks $ 35,844 Land 75,000 Accounts payable 10,300 Interest payable 3,000 Long-term notes payable 52,000 x. Wilson, Capital 154, 193 x. Wilson, withdrawals 19,000 Trucking fees earned 148,500 Depreciation expense 23,119 Trucks Salaries expense 69,647 Office supplies expense 5,500 Repairs expense Trucks 12,771 Totals...
Problem 7 – (worth 10 Points) 7.) The following work sheet is for Tuttle Photography, a proprietorship. Tuttle Photography Work Sheet For the Year Ended December 31, 2011 Accounts Debit Credit Cash 15,000 Accounts receivable 30,000 Prepaid insurance 7,500 Office supplies 3,200 Land 40,000 Building 160,000 Accumulated depreciation 12,000 Equipment 75,000 Accumulated depreciation 8,500 Accounts payable 12,000 Salaries payable 12,000 Unearned service revenue 25,000 Mortgage payable 100,000 Capital 11,290 Withdrawals 23,000 Service revenue 289,000 Salaries expense 61,000 Depreciation expense 6,150...
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