Homework Answers
For the year ending December 31, 2022
| Revenue | ||
| Service revenue | $20,000 | |
| Expense | ||
| Advertising expense | $1,600 | |
| Rent expense | $1,920 | |
| Salaries expense | $4,640 | |
| Supplies expense | $1,360 | |
| Total expense | $9,520 | |
| Profit before tax | $10,480 | |
| Income tax expense | $1,440 | |
| Profit after tax | $9,040 |
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Ayayai Corporation began operations on January 1, 2022. The following information is avaijable for Ayayai Corporation...
Ayayal Corporation began operations on January 1, 2022. The following information is available for Ayayai Corporation...
Ayayal Corporation began operations on January 1, 2022. The following information is available for Ayayai Corporation on December 31, 2022. Accounts payable Accounts receivable Advertising expense Cash Common shares (Dec. 31) Dividends declared Equipment Income tax expense $4,000 2,400 1,600 2,480 12,000 2,000 22,240 1,440 Bank loan payable Rent expense Retained earnings (Dec. 31) Salaries expense Service revenue Supplies Supplies [xpense $5,600 1,920 ? 4,640 20.000 1,520 1,360 al LES Revenues Service Revenu 20,000 Expenses Advertising Expense 1.600 Rent Expense...
just need helo filling out photo 4:) Ayayal Corporation began operations on January 1, 2022. The...
just need helo filling out photo 4:)
Ayayal Corporation began operations on January 1, 2022. The following information is available for Ayayai Corporation on December 31, 2022. $5,600 1,920 Accounts payable Accounts receivable Advertising expense Cash Common shares (Dec. 31) Dividends declared Equipment Income tax expense $4,000 2,400 1,600 2,480 12,000 2,000 22,240 1,440 Bank loan payable Rent expense Retained earnings (Dec. 31) Salaries expense Service revenue Supplies Supplies expense 4,640 20,000 1,520 1,360 4/ 6 III Revenues Service Revenue...
These accounts and balances are taken from the financial statements of Ayayai Corporation for the year...
These accounts and balances are taken from the financial statements of Ayayai Corporation for the year ended December 31, 2022. Retained earnings, January 1 Utilities expense Equipment Accounts payable Income tax payable Cash Salaries payable Common shares January 1 Dividends declared Service revenue Prepaid insurance Repair and maintenance expense Depreciation expense Accounts receivable Insurance expense Salaries expense $26,000 2,000 71,000 11.200 2.100 7.900 3.000 13.000 7,000 67.000 3.500 1.800 3.300 14.200 2.200 27.500 ACCOUNSTecervadie 14.ZUU Insurance expense Salaries expense Income...
Ayayai Company ended its fiscal year on July 31, 2022. The company's adjusted trial balance as...
Ayayai Company ended its fiscal year on July 31, 2022. The company's adjusted trial balance as of the end of its fiscal year is shown as follows. No. Debit Credit 101 112 157 $8,600 8,600 16,500 Ayayai Company Adjusted Trial Balance July 31, 2022 Account Titles Cash Accounts Receivable Equipment Accumulated Depreciation-Equip. Accounts Payable Unearned Rent Revenue Common Stock Retained Earnings Dividends Service Revenue 158 201 $7,100 4,200 1,700 208 311 18,100 27,200 320 332 16,500 400 63,500 7,000 429...
Prepare a retained earnings statement for the year ended December 31, 2022. (List items that increase...
Prepare a retained earnings statement for
the year ended December 31, 2022. (List items that
increase retained earnings first.)
Prepare a classified balance sheet as of December 31, 2022.
(List Current Assets in order of
liquidity.)
These items are taken from the financial statements of Cullumber Company for 2022. Retained earnings (beginning of year) Utilities expense Equipment Accounts payable Cash Salaries and wages payable Common stock Dividends Supplies Debt investment (long-term) Trademarks Service revenue Prepaid insurance Maintenance and repairs expense...
Problem 19-1 The following information is available for Ayayai Corporation for 2017. 1. Depreciation reported on...
Problem 19-1 The following information is available for Ayayai Corporation for 2017. 1. Depreciation reported on the tax return exceeded depreciation reported on the income statement by $122,000 This difference will reverse in equal amounts of $30,500 over the years 2018-2021. 2. Interest received on municipal bonds was $11,000. 3. Rent collected in advance on January 1, 2017, totaled $63,900 for a 3-year period. Of this amount, $42,600 was reported as unearned at December 31, 2017, for book purposes 4....
Problem 2-03A (Part Level Submission) You are provided with the following information for Sheridan Company, effective...
Problem 2-03A (Part Level Submission) You are provided with the following information for Sheridan Company, effective as of its April 30, 2022, year-end. $ 856 910 650 1,330 17,100 1,020 365 375 2,480 1,900 180 160 Accounts payable Accounts receivable Accumulated depreciation equipment Cash Common stock Cost of goods sold Depreciation expense Dividends Equipment Goodwill Income tax expense Income taxes payable Insurance expense Interest expense Inventory Investment in land Land Mortgage payable (long-term) Notes payable (short-term) Prepaid insurance Retained camnings...
hese financial statement items are for Crane Corporation at year end, July 31, 2018: Operating expenses...
hese financial statement items are for Crane Corporation at year
end, July 31, 2018:
Operating expenses
$32,500
Interest payable
$ 2,000
Salaries expense
46,200
Supplies expense
1,700
Unearned revenue
12,000
Dividends declared
12,500
Utilities expense
2,400
Depreciation expense
2,800
Equipment
61,700
Retained earnings, Aug. 1, 2017
20,440
Accounts payable
4,720
Rent expense
11,000
Service revenue
115,100
Income tax expense
5,800
Rent revenue
19,500
Supplies
1,600
Common shares
24,500
Held for trading investments
22,500
Cash
5,560
Bank loan payable (due Dec....
These financial statement items are for Cullumber Company at year-end, July 31, 2022. Salaries and wages...
These financial statement items are for Cullumber Company at year-end, July 31, 2022. Salaries and wages payable Salaries and wages expense Supplies expense Equipment Accounts payable Service revenue Rent revenue Notes payable (due in 2025) Common stock Cash Accounts receivable Accumulated depreciation-equipment Dividends Depreciation expense Retained earnings (beginning of the year) $ 3,500 59,100 17,500 16,120 4,400 67,700 10,400 3,700 16,000 37,280 11,700 8,000 4,000 4,000 36,000 Prepare an income statement for the year. Cullumber Company did not issue any...
Problem 2-02A (Part Level Submission) These items are taken from the financial statements of Sandhill Co....
Problem 2-02A (Part Level Submission) These items are taken from the financial statements of Sandhill Co. for 2022 Retained earnings (beginning of year) Utilities expense Equipment Accounts payable Cash Salaries and wages payable Common stock Dividends Supplies Debt investment (long-term) Trademarks Service revenue Prepaid insurance Maintenance and repairs expense Depreciation expense Accounts receivable Insurance expense Salaries and wages expense Accumulated depreciation-equipment $35,530 2,150 62,100 13,960 11,750 6,280 23,000 12,000 3,400 6,600 2,700 71,600 6,780 1,650 3,320 14,150 2,480 40,540 19,250...
Ayayal Corporation began operations on January 1, 2022. The following information is available for Ayayai Corporation on December 31, 2022. Accounts payable Accounts receivable Advertising expense Cash Common shares (Dec. 31) Dividends declared Equipment Income tax expense $4,000 2,400 1,600 2,480 12,000 2,000 22,240 1,440 Bank loan payable Rent expense Retained earnings (Dec. 31) Salaries expense Service revenue Supplies Supplies [xpense $5,600 1,920 ? 4,640 20.000 1,520 1,360 al LES Revenues Service Revenu 20,000 Expenses Advertising Expense 1.600 Rent Expense...
just need helo filling out photo 4:)
Ayayal Corporation began operations on January 1, 2022. The following information is available for Ayayai Corporation on December 31, 2022. $5,600 1,920 Accounts payable Accounts receivable Advertising expense Cash Common shares (Dec. 31) Dividends declared Equipment Income tax expense $4,000 2,400 1,600 2,480 12,000 2,000 22,240 1,440 Bank loan payable Rent expense Retained earnings (Dec. 31) Salaries expense Service revenue Supplies Supplies expense 4,640 20,000 1,520 1,360 4/ 6 III Revenues Service Revenue...
These accounts and balances are taken from the financial statements of Ayayai Corporation for the year ended December 31, 2022. Retained earnings, January 1 Utilities expense Equipment Accounts payable Income tax payable Cash Salaries payable Common shares January 1 Dividends declared Service revenue Prepaid insurance Repair and maintenance expense Depreciation expense Accounts receivable Insurance expense Salaries expense $26,000 2,000 71,000 11.200 2.100 7.900 3.000 13.000 7,000 67.000 3.500 1.800 3.300 14.200 2.200 27.500 ACCOUNSTecervadie 14.ZUU Insurance expense Salaries expense Income...
Ayayai Company ended its fiscal year on July 31, 2022. The company's adjusted trial balance as of the end of its fiscal year is shown as follows. No. Debit Credit 101 112 157 $8,600 8,600 16,500 Ayayai Company Adjusted Trial Balance July 31, 2022 Account Titles Cash Accounts Receivable Equipment Accumulated Depreciation-Equip. Accounts Payable Unearned Rent Revenue Common Stock Retained Earnings Dividends Service Revenue 158 201 $7,100 4,200 1,700 208 311 18,100 27,200 320 332 16,500 400 63,500 7,000 429...
Prepare a retained earnings statement for
the year ended December 31, 2022. (List items that
increase retained earnings first.)
Prepare a classified balance sheet as of December 31, 2022.
(List Current Assets in order of
liquidity.)
These items are taken from the financial statements of Cullumber Company for 2022. Retained earnings (beginning of year) Utilities expense Equipment Accounts payable Cash Salaries and wages payable Common stock Dividends Supplies Debt investment (long-term) Trademarks Service revenue Prepaid insurance Maintenance and repairs expense...
Problem 19-1 The following information is available for Ayayai Corporation for 2017. 1. Depreciation reported on the tax return exceeded depreciation reported on the income statement by $122,000 This difference will reverse in equal amounts of $30,500 over the years 2018-2021. 2. Interest received on municipal bonds was $11,000. 3. Rent collected in advance on January 1, 2017, totaled $63,900 for a 3-year period. Of this amount, $42,600 was reported as unearned at December 31, 2017, for book purposes 4....
Problem 2-03A (Part Level Submission) You are provided with the following information for Sheridan Company, effective as of its April 30, 2022, year-end. $ 856 910 650 1,330 17,100 1,020 365 375 2,480 1,900 180 160 Accounts payable Accounts receivable Accumulated depreciation equipment Cash Common stock Cost of goods sold Depreciation expense Dividends Equipment Goodwill Income tax expense Income taxes payable Insurance expense Interest expense Inventory Investment in land Land Mortgage payable (long-term) Notes payable (short-term) Prepaid insurance Retained camnings...
hese financial statement items are for Crane Corporation at year
end, July 31, 2018:
Operating expenses
$32,500
Interest payable
$ 2,000
Salaries expense
46,200
Supplies expense
1,700
Unearned revenue
12,000
Dividends declared
12,500
Utilities expense
2,400
Depreciation expense
2,800
Equipment
61,700
Retained earnings, Aug. 1, 2017
20,440
Accounts payable
4,720
Rent expense
11,000
Service revenue
115,100
Income tax expense
5,800
Rent revenue
19,500
Supplies
1,600
Common shares
24,500
Held for trading investments
22,500
Cash
5,560
Bank loan payable (due Dec....
These financial statement items are for Cullumber Company at year-end, July 31, 2022. Salaries and wages payable Salaries and wages expense Supplies expense Equipment Accounts payable Service revenue Rent revenue Notes payable (due in 2025) Common stock Cash Accounts receivable Accumulated depreciation-equipment Dividends Depreciation expense Retained earnings (beginning of the year) $ 3,500 59,100 17,500 16,120 4,400 67,700 10,400 3,700 16,000 37,280 11,700 8,000 4,000 4,000 36,000 Prepare an income statement for the year. Cullumber Company did not issue any...
Problem 2-02A (Part Level Submission) These items are taken from the financial statements of Sandhill Co. for 2022 Retained earnings (beginning of year) Utilities expense Equipment Accounts payable Cash Salaries and wages payable Common stock Dividends Supplies Debt investment (long-term) Trademarks Service revenue Prepaid insurance Maintenance and repairs expense Depreciation expense Accounts receivable Insurance expense Salaries and wages expense Accumulated depreciation-equipment $35,530 2,150 62,100 13,960 11,750 6,280 23,000 12,000 3,400 6,600 2,700 71,600 6,780 1,650 3,320 14,150 2,480 40,540 19,250...
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