Will you explain your answer please? I know it is a pretty straight forward assignment but I am just stuck. Thanks!
Homework Answers
| S. No | Name of Account | Account Type | Normal Balance | Financial Statement |
| 1 | Accounts Receivable | Asset | Debit | Balance Sheet |
| 2 | Sales Revenue | Income | Credit | Income Statement |
| 3 | Supplies | Asset | Debit | Balance Sheet |
| 4 | Accounts Payable | Liability | Credit | Balance Sheet |
| 5 | Advertisement Expenses | Expenses | Debit | Income Statement |
| 6 | Common Stock | Equity | Credit | Balance Sheet |
| 7 | Deferred Revenue | Liability | Credit | Balance Sheet |
| 8 | Equipment | Asset | Debit | Balance Sheet |
| 9 | Dividends | Liability | Credit | Balance Sheet |
| 10 | Prepaid Insurance | Asset | Debit | Balance Sheet |
| 11 | Cost of Goods Sold | Expenses | Debit | Income Statement |
| 12 | Interest Expenses | Expenses | Debit | Income Statement |
| 13 | Land | Asset | Debit | Balance Sheet |
| 14 | Rent Revenue | Income | Credit | Income Statement |
| 15 | Depreciation Expenses | Expenses | Debit | Income Statement |
| 16 | Retained Earnings | Equity | Credit | Balance Sheet |
| 17 | Supplies Expenses | Expenses | Debit | Income Statement |
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Will you explain your answer please? I know it is a pretty
straight forward assignment but...
Please explain your answer. Thank you. Learning Objective 5 P1-43A Preparing financial statements Picture Perfect Photography...
Please explain your answer. Thank you.
Learning Objective 5 P1-43A Preparing financial statements Picture Perfect Photography works weddings and prom-type parties. The balance of retained earnings was $16,000 at December 31, 2017. At December 31, 2018, the business's accounting records show these balances: b. Ending Retained Earnings $48,000 Insurance Expense $ 13,000 14,000 Cash Accounts Payable Advertising Expense Service Revenue Dividends $ 6,000 Accounts Receivable 42,000 Notes Payable 11,000 Retained Earnings, Dec. 31, 2018 4,000 Salaries Expense 75,000 Equipment 8,000...
I need help with this accouting problem. S1-11 Identifying accounts on the financial statements Consider the...
I need help with this accouting problem.
S1-11 Identifying accounts on the financial statements Consider the following accounts: a. Accounts Payable f. Service Revenue b. Cash g. Office Supplies c. Common Stock h. Dividends d. Accounts Receivable i. Land e. Rent Expense j. Salaries Expense Identify the financial statement (or statements) that each account would appear on. Use I for Income Statement, RE for Statement of Retained Earnings, B for Balance Sheet, and C for Statement of Cash Flows.
itional Exercise 243 Your answer is partially correct. Try again. e adjusted trial balance of C.S....
itional Exercise 243 Your answer is partially correct. Try again. e adjusted trial balance of C.S. Financial Planners appears below. Credit C.S. Financial Planners Adjusted Trial Balance December 31, 2018 Debit Cash $4,900 Accounts Receivable 2,200 Supplies 1,800 Equipment 15,000 Accumulated Depreciation-Equipment Accounts Payable Unearned Service Revenue Common Stock Retained Earnings Dividends 2,500 Service Revenue Supplies Expense 600 Depreciation Expense 2,500 Rent Expense 2,400 $31,900 $4,000 3,300 6,000 10,000 4,400 4,200 $31,900 Using the information from the adjusted trial balance,...
Credit Gain on Sale of an Asset Common Stock Retained Earnings Credit Credit Land Debit Notes...
Credit Gain on Sale of an Asset Common Stock Retained Earnings Credit Credit Land Debit Notes Payable Credit Fees Earned Credit Equipment Debit Sales Credit Accounts Receivable Debit Auto Expense Debit Rent Expense Debit Supplies Debit Cash Debit Accounts Payable Credit Service Revenue Credit Accumulated Depreciation-Equipment Credit Cash Dividends Debit Type here to search Paid in Capital in Excess of Par Credit Bonds Payable Credit Credit Unearned Revenue Salary Expense Debit Identify which financial statement each one of these accounts...
Did all the financial statements( pretty sure they are all correct) I just do not understand what I am suppose to do fo...
Did all the financial statements( pretty sure they are all
correct) I just do not understand what I am suppose to do for this
last picture. Please help. Don't know how to find the return on
equity or any of those questions on this last picture.
On January 1, 2021, the general ledger of Grand Finale Fireworks includes the following account balances: Credit Debit $ 44,700 48,500 9,500 84,000 Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Common...
Prepare a classified statement of financial position. 1 N 4 5 6 Statement of Financial Position...
Prepare a classified statement of financial
position.
1 N 4 5 6 Statement of Financial Position Dr. Cr. 7 8 Madrasah SE Worksheet (PARTIAL) For the Month Ended April 30, 2019 Adjusted Income Trial Balance Statement Account Titles Dr. Cr. Dr. Cr. Cash 18,972 9 Accounts Receivable 6,920 10 Prepaid Rent 2,280 11 Equipment 18,050 12 Accumulated Depreciation-Equipment 4,895 13 Notes Payable 5,700 14 Accounts Payable 15 Share Capital-Ordinary 33,960 16 Retained Earnings, April 1, 2019 1,000 17 Dividends 6,650...
Account Balance Account Balance Dividends. ..................$ 3,100 Common stock......... S 17,100 Utilities expense 1,500 Accounts payable...
Account Balance Account Balance Dividends. ..................$ 3,100 Common stock......... S 17,100 Utilities expense 1,500 Accounts payable 4,300 Accounts receivable 6,000 Service revenue 20,900 Delivery expense 500 Equipment 29,200 Retained earnings.... 5,800 Note payable 20,000 Salary expense 8,800 Cash 19,000 Trial Balance April 30, 2018 Account Cash Accounts receivable Equipment Accounts payable Note payable Common stock Retained earnings Dividends Service revenue Balance Debit Credit 19,000 6,000 29,200 4,300 20,000 17,100 5,800 3,100 20,900 Salary expense Utilities expense 8,800 1,500 500 Delivery...
Indicate the financial statement on which each of the following items appears. Use I for income...
Indicate the financial statement on which each of the following items appears. Use I for income statement, E for statement of retained earnings, and B for balance sheet. a. Wages Expense b. Wages Payable c. Warehouse d. Janitorial Expense e. Accounts Payable f. Accounts Receivable 9. Advertising Expense h. Buildings i. Cash j. Commission Revenue k. Consulting Revenue 1. Delivery Expense
Revise the data in your spreadsheet based on the following assumptions, and then answer the questions...
Revise the data in your spreadsheet based on the following assumptions, and then answer the questions that follow: Expenses: Advertising Expense $ 14,000 Assets: Cash $ 26,000 Insurance expense 20,000 Accounts receivable 24,000 Salaries expense 49,000 Supplies 15,000 Rent expense 10,000 Land 55,000 Liabilities: Salaries payable 12,000 Revenues: Service revenue 94,000 Notes payable 36,000 Interest revenue 9,000 Dividends: Dividends 9,000 Equity: Common stock 44,000 Retained earnings 27,000 Required: 1. What is the Net Income/(Loss)? $27,000 $10,000 $13,000 $20,500 Assume the...
PR 1-2B Financial statements O. 5 e amounts of the assets and liabilities of Wilderness Travel...
PR 1-2B Financial statements O. 5 e amounts of the assets and liabilities of Wilderness Travel Service at April 30, 2018, the ts revenue and expenses for the year follow. The retained earnings were $1 at Alay i, 2017, the beginning of the year, and dividends of $10,000 were paid during the 1. Net income: Th of the year, and its 45 Accounts payable Accounts receivable Cash Common stock Fees earned Miscellaneous expense $ 25,000 210,000 146,000 35,000 875,000 15,000...
Please explain your answer. Thank you.
Learning Objective 5 P1-43A Preparing financial statements Picture Perfect Photography works weddings and prom-type parties. The balance of retained earnings was $16,000 at December 31, 2017. At December 31, 2018, the business's accounting records show these balances: b. Ending Retained Earnings $48,000 Insurance Expense $ 13,000 14,000 Cash Accounts Payable Advertising Expense Service Revenue Dividends $ 6,000 Accounts Receivable 42,000 Notes Payable 11,000 Retained Earnings, Dec. 31, 2018 4,000 Salaries Expense 75,000 Equipment 8,000...
I need help with this accouting problem.
S1-11 Identifying accounts on the financial statements Consider the following accounts: a. Accounts Payable f. Service Revenue b. Cash g. Office Supplies c. Common Stock h. Dividends d. Accounts Receivable i. Land e. Rent Expense j. Salaries Expense Identify the financial statement (or statements) that each account would appear on. Use I for Income Statement, RE for Statement of Retained Earnings, B for Balance Sheet, and C for Statement of Cash Flows.
itional Exercise 243 Your answer is partially correct. Try again. e adjusted trial balance of C.S. Financial Planners appears below. Credit C.S. Financial Planners Adjusted Trial Balance December 31, 2018 Debit Cash $4,900 Accounts Receivable 2,200 Supplies 1,800 Equipment 15,000 Accumulated Depreciation-Equipment Accounts Payable Unearned Service Revenue Common Stock Retained Earnings Dividends 2,500 Service Revenue Supplies Expense 600 Depreciation Expense 2,500 Rent Expense 2,400 $31,900 $4,000 3,300 6,000 10,000 4,400 4,200 $31,900 Using the information from the adjusted trial balance,...
Credit Gain on Sale of an Asset Common Stock Retained Earnings Credit Credit Land Debit Notes Payable Credit Fees Earned Credit Equipment Debit Sales Credit Accounts Receivable Debit Auto Expense Debit Rent Expense Debit Supplies Debit Cash Debit Accounts Payable Credit Service Revenue Credit Accumulated Depreciation-Equipment Credit Cash Dividends Debit Type here to search Paid in Capital in Excess of Par Credit Bonds Payable Credit Credit Unearned Revenue Salary Expense Debit Identify which financial statement each one of these accounts...
Did all the financial statements( pretty sure they are all
correct) I just do not understand what I am suppose to do for this
last picture. Please help. Don't know how to find the return on
equity or any of those questions on this last picture.
On January 1, 2021, the general ledger of Grand Finale Fireworks includes the following account balances: Credit Debit $ 44,700 48,500 9,500 84,000 Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Common...
Prepare a classified statement of financial
position.
1 N 4 5 6 Statement of Financial Position Dr. Cr. 7 8 Madrasah SE Worksheet (PARTIAL) For the Month Ended April 30, 2019 Adjusted Income Trial Balance Statement Account Titles Dr. Cr. Dr. Cr. Cash 18,972 9 Accounts Receivable 6,920 10 Prepaid Rent 2,280 11 Equipment 18,050 12 Accumulated Depreciation-Equipment 4,895 13 Notes Payable 5,700 14 Accounts Payable 15 Share Capital-Ordinary 33,960 16 Retained Earnings, April 1, 2019 1,000 17 Dividends 6,650...
Account Balance Account Balance Dividends. ..................$ 3,100 Common stock......... S 17,100 Utilities expense 1,500 Accounts payable 4,300 Accounts receivable 6,000 Service revenue 20,900 Delivery expense 500 Equipment 29,200 Retained earnings.... 5,800 Note payable 20,000 Salary expense 8,800 Cash 19,000 Trial Balance April 30, 2018 Account Cash Accounts receivable Equipment Accounts payable Note payable Common stock Retained earnings Dividends Service revenue Balance Debit Credit 19,000 6,000 29,200 4,300 20,000 17,100 5,800 3,100 20,900 Salary expense Utilities expense 8,800 1,500 500 Delivery...
Indicate the financial statement on which each of the following items appears. Use I for income statement, E for statement of retained earnings, and B for balance sheet. a. Wages Expense b. Wages Payable c. Warehouse d. Janitorial Expense e. Accounts Payable f. Accounts Receivable 9. Advertising Expense h. Buildings i. Cash j. Commission Revenue k. Consulting Revenue 1. Delivery Expense
PR 1-2B Financial statements O. 5 e amounts of the assets and liabilities of Wilderness Travel Service at April 30, 2018, the ts revenue and expenses for the year follow. The retained earnings were $1 at Alay i, 2017, the beginning of the year, and dividends of $10,000 were paid during the 1. Net income: Th of the year, and its 45 Accounts payable Accounts receivable Cash Common stock Fees earned Miscellaneous expense $ 25,000 210,000 146,000 35,000 875,000 15,000...
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