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C. Net income of $80,000
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Beck Company had the following accounts and balances at the end of the year. What is...
Gold Enterprises showed the following balances at the end of its first year: Cash $ 4,000...
Gold Enterprises showed the following balances at the end of its first year: Cash $ 4,000 Prepaid insurance 7,000 Accounts receivable 5,000 Accounts payable 5,000 Notes payable 6,000 Common stock 2,000 Dividends 1,000 Revenues 32,000 Expenses 25,000 What did Gold Enterprises show as total credits on its trial balance? a. $12,000 b. $44,000 C. $45,000 d. $50,000
The following are account balances for Sam Olin Co. for the year ended December 31, 2018:...
The following are account balances for Sam Olin Co. for the year ended December 31, 2018: Fees earned $168,000 Cash $30,000 14,000 Selling expenses Accounts receivable 44,000 42,000 Sam, capital Equipment 36,000 Accounts payable 12,000 Interest Payable 3,000 Salaries & wages expense 40,000 Rent expense 51,000 Income taxes payable 5,000 Supplies 2,000 Notes payable Income taxes expense 20,000 18,000 Prepare an income statement for Sam Olin Co. For the Year Ended December 31, 2018. (Don
Following is a random list of accounts with normal balances for the Wiggins Company as of...
Following is a random list of accounts with normal balances for the Wiggins Company as of December 31, 2018. Based on the information given below, calculate operating income for the year ended December 31, 2018. Cost of Goods Sold $117,000 General Expenses 36,000 Administrative Expenses 12,000 Net Cash Provided by Financing Activities 69,000 Dividends Paid 16,000 Extraordinary Loss from a flood, Net of tax savings of $32,000 74,000 Income Tax Expense 11,000 Other Selling Expenses 26,000 Net Sales 278,000...
DJ ULICU 43. Electrelane Company showed the following balances at the end of its first year:...
DJ ULICU 43. Electrelane Company showed the following balances at the end of its first year: Cash $ 4,000 Prepaid insurance 7,000 Accounts receivable 5,000 Accounts payable 4,000 Notes payable 6,000 Common stock 2,000 Dividends 1,000 Revenues 32,000 Expenses 25,000 What did Electrelene Company show as total credits on its trial balance? A) $49,000 B) $9,000 C) $44,000 D) $45,000
Wetzel Company has the following accounts and balances at the end of the fiscal year: Long...
Wetzel Company has the following accounts and balances at the end of the fiscal year: Long - Term Notes Payable Accounts Receivable Accounts Payable Building Cash and Cash Equivalents Salaries Expense Common Stock Interest Payable Land Short-term Investments Income Taxes Payable $152,000 $31,000 $42,000 $55,000 $73,000 $20,500 $23,000 $6,500 $42,000 $25,000 $14,000 O A. $116,500 B. $214,500 O C. $62,500 OD. $211,000 Short-term Investments Income Taxes Payable Equipment Supplies Service Revenue Supplies Expense Utilities Expense Income Tax Expense $25,000 $14,000...
The following are the ending balances of accounts at December 31, 2021. for the Valley Pump...
The following are the ending balances of accounts at December 31, 2021. for the Valley Pump Corporation Account Title Cash Accounts receivable Inventory Interest payable Investment in equity securities Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment Copyright (net) Prepaid expenses (next 12 months) Accounts payable Deferred revenue (next 12 months) Notes payable Allowance for uncollectible accounts Common stock Retained earnings Totals Debits Credits 44,000 94,000 119,000 $ 29,000 82,000 158,000 395,000 119,000 113,000 44,000 31,000 51,000 84,000 39,000 345,000 6,000...
Below are the account balances of Bruins Company at the end of November. Accounts Cash Accounts...
Below are the account balances of Bruins Company at the end of November. Accounts Cash Accounts Receivable Supplies Prepaid Rent Equipment Accounts Payable Salaries Payable Interest Payable Deferred Revenue Notes Payable Balances Accounts $ 40,000 Common Stock 50,000 Retained Earnings 1,100 Dividends 3,000 Service Revenue Salaries Expense 17,000 Rent Expense 5,000 Interest Expense 3,000 Supplies Expense 9,000 Utilities Expense 30,000 Balances $50,000 35,000 1,100 65,000 30,000 12,000 3,000 7,000 6,000 Required: Prepare a trial balance by placing amounts in the...
THE Company reported the following account balances at December 31, 2026: |||Utilities Expense $33,000||| |||Inventory $47,000|||...
THE Company reported the following account balances at December 31, 2026: |||Utilities Expense $33,000||| |||Inventory $47,000||| |||Unearned Revenue $35,000||| |||Retained Earnings $52,000||| (at January 1, 2026) |||Income Tax Expense $24,000||| |||Accounts Payable $51,000||| |||Cost of Goods Sold $38,000||| |||Cash $21,000||| |||Utilities Payable $19,000||| |||Common Stock $71,000||| |||Building $74,000||| |||Service Revenue $55,000||| |||Accounts Receivable $69,000||| |||Equipment $61,000||| |||Sales Revenue $96,000||| |||Dividends $17,000||| |||Patent $42,000||| |||Notes Payable $88,000||| |||Loss on Sale of Land $26,000||| |||Supplies $15,000||| Calculate the amount of gross profit...
) Figgaro Company's accounts and their balances, as of the end of August, are included below....
) Figgaro Company's accounts and their balances, as of the end of August, are included below. All accounts have normal balances: Accounts receivable….. $36,000 Cash……………………. $27,000 Equipment…………….. 59,000 Advertising expense… 5,000 Service revenues earned. 75,000 Accounts payable……… 31,000 Rent expense………….. 3,600 Dividends……………... 24,000 Office supplies……… 1,500 Salaries expense……….. 30,000 Notes payable………… 22,000 Common Stock…….. 58,100 a. Calculate net income. b. Determine the amount of total equity to be shown on the August 31 balance sheet. 2) List the four steps...
Kolander Company has the following accounts and balances at the end of the year: What is...
Kolander Company has the following accounts and balances at the
end of the year:
What is the amount of Retained Earnings at the end of the
year?
Long-Term Notes Payable Accounts Receivable Accounts Payable Building Cash and Cash Equivalents Common Stock Interest Payable Land Short-term Investments Income Taxes Payable Equipment Supplies $50,000 $28,000 $39,000 $56,000 $80,000 $123,000 $5,500 $40,000 $8,000 $14,000 $60,500 $9,000
Gold Enterprises showed the following balances at the end of its first year: Cash $ 4,000 Prepaid insurance 7,000 Accounts receivable 5,000 Accounts payable 5,000 Notes payable 6,000 Common stock 2,000 Dividends 1,000 Revenues 32,000 Expenses 25,000 What did Gold Enterprises show as total credits on its trial balance? a. $12,000 b. $44,000 C. $45,000 d. $50,000
The following are account balances for Sam Olin Co. for the year ended December 31, 2018: Fees earned $168,000 Cash $30,000 14,000 Selling expenses Accounts receivable 44,000 42,000 Sam, capital Equipment 36,000 Accounts payable 12,000 Interest Payable 3,000 Salaries & wages expense 40,000 Rent expense 51,000 Income taxes payable 5,000 Supplies 2,000 Notes payable Income taxes expense 20,000 18,000 Prepare an income statement for Sam Olin Co. For the Year Ended December 31, 2018. (Don
DJ ULICU 43. Electrelane Company showed the following balances at the end of its first year: Cash $ 4,000 Prepaid insurance 7,000 Accounts receivable 5,000 Accounts payable 4,000 Notes payable 6,000 Common stock 2,000 Dividends 1,000 Revenues 32,000 Expenses 25,000 What did Electrelene Company show as total credits on its trial balance? A) $49,000 B) $9,000 C) $44,000 D) $45,000
Wetzel Company has the following accounts and balances at the end of the fiscal year: Long - Term Notes Payable Accounts Receivable Accounts Payable Building Cash and Cash Equivalents Salaries Expense Common Stock Interest Payable Land Short-term Investments Income Taxes Payable $152,000 $31,000 $42,000 $55,000 $73,000 $20,500 $23,000 $6,500 $42,000 $25,000 $14,000 O A. $116,500 B. $214,500 O C. $62,500 OD. $211,000 Short-term Investments Income Taxes Payable Equipment Supplies Service Revenue Supplies Expense Utilities Expense Income Tax Expense $25,000 $14,000...
The following are the ending balances of accounts at December 31, 2021. for the Valley Pump Corporation Account Title Cash Accounts receivable Inventory Interest payable Investment in equity securities Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment Copyright (net) Prepaid expenses (next 12 months) Accounts payable Deferred revenue (next 12 months) Notes payable Allowance for uncollectible accounts Common stock Retained earnings Totals Debits Credits 44,000 94,000 119,000 $ 29,000 82,000 158,000 395,000 119,000 113,000 44,000 31,000 51,000 84,000 39,000 345,000 6,000...
Below are the account balances of Bruins Company at the end of November. Accounts Cash Accounts Receivable Supplies Prepaid Rent Equipment Accounts Payable Salaries Payable Interest Payable Deferred Revenue Notes Payable Balances Accounts $ 40,000 Common Stock 50,000 Retained Earnings 1,100 Dividends 3,000 Service Revenue Salaries Expense 17,000 Rent Expense 5,000 Interest Expense 3,000 Supplies Expense 9,000 Utilities Expense 30,000 Balances $50,000 35,000 1,100 65,000 30,000 12,000 3,000 7,000 6,000 Required: Prepare a trial balance by placing amounts in the...
Kolander Company has the following accounts and balances at the
end of the year:
What is the amount of Retained Earnings at the end of the
year?
Long-Term Notes Payable Accounts Receivable Accounts Payable Building Cash and Cash Equivalents Common Stock Interest Payable Land Short-term Investments Income Taxes Payable Equipment Supplies $50,000 $28,000 $39,000 $56,000 $80,000 $123,000 $5,500 $40,000 $8,000 $14,000 $60,500 $9,000
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