Homework Answers
| Garrett Corporation | Adjusted TB | |
| Account Names | Debit | Credit |
| Cash | 490,000 | |
| Accounts Receivable | 350,000 | |
| Merchandise Inventory | 3,500,000 | |
| Prepaid Supplies | 120,000 | |
| Prepaid Insurance | 425,000 | |
| Land | 1,450,000 | |
| Building | 1,175,000 | |
| Accumulated Depreciation - Building | 150,000 | |
| Furniture | 825,000 | |
| Accumulated Depreciation - Furniture | 160,000 | |
| Accounts Payable | 3,000,000 | |
| Salaries Payable | 675,000 | |
| Notes Payable | 1,500,000 | |
| Common Stock | 2,450,000 | |
| Retained Earnings | 400,000 | |
| Sales | 1,620,000 | |
| Salaries expense | 675,000 | |
| Advertising expense | 320,000 | |
| Depreciation expense, Furniture | 160,000 | |
| Depreciation expense, Building | 150,000 | |
| Insurance expense | 95,000 | |
| Supplies expense | 85,000 | |
| Interest expense | 135,000 | |
| Totals | 9,955,000 | 9,955,000 |
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Chapter 3 Exam Review Use the below information to prepare an Adjusted Trial Balance for the...
The following tables shows the adjusted trial balance of Scott Company: Scott Company Adjusted Trial Balance,...
The following tables shows the adjusted trial balance of Scott Company: Scott Company Adjusted Trial Balance, December 31, 2016 Cash $100,000 Accounts receivable 7,000 Prepaid Insurance 9,000 Office supplies 3,300 Office equipment 8,000 Accumulated depreciation - Equipment $3,200 Building 430,000 Accumulated depreciation - Building 42,000 Accounts payable 5,800 Salaries payable 14,500 Interest payable 2,500 Long-term note payable 52,000 Common stock 50,000 Retained earnings 160,000 Dividends 20,000 Service fees earned 280,300 Salaries expense 20,000 Insurance expense 5,200 Depreciation expense - Equipment...
Print 1. The adjusted trial balance for Green Advertising Services is presented below: (Click on the...
Print 1. The adjusted trial balance for Green Advertising Services is presented below: (Click on the icon to view the adjusted trial balance.) Read the requirements Requirement 1. Prepare the income statement for the year ending December 31, 2018. (Use a minus sign or parentheses to show a net loss. If a box is not used in the statement, leave the box emply; do not select a label or enter a zero.) Green Advertising Services Income Statement Year Ended December...
The adjusted trial balance of Ryan Company appears below. Using the information from the adjusted trial...
The adjusted trial balance of Ryan Company appears below. Using
the information from the adjusted trial balance, you are to prepare
for the month ending December 31:
1.
an income statement.
2.
a retained earnings statement.
3.
a balance sheet.
(You need to calculate the amount of
cash)
Trial Balance Debit 285,000 $ 45,000 16,500 178,500 Cash Accounts Receivable Allowance for Doubtful Accounts Supplies Prepaid Insurance Equipment Accumulated Depreciation - Equipment Notes Payable Accounts Payable Interest Payable...
Build the unadjusted trial balance and adjustments columns from the given information and total the columns....
Build the unadjusted trial balance and adjustments columns from the given information and total the columns. Only input amounts for accounts with balances and do not enter zeros for blank cells. Accounts Payable 5.900 Accounts Receivable 19.600 SMART TOUCH LEARNING Worksheet December 31, 2016 Cash 27,900 Unadjusted Trial Balance Adjustments Common Stock 38,600 Account Names Debit Credit Debit Credit Dividends 5.400 Cash 27900 Furniture 4.400 Accounts Receivable 19600 Notes Payable 6.700 Office Supplies R800 Office Supplies 8.800 Prepaid Rent 12700...
1. Use the information in the adjusted trial balance below to prepare (a) the income statement...
1. Use the information in the adjusted trial balance below to prepare (a) the income statement (IS tab) for the year ended December 31; (b) the statement of owner's eqity (SOE tab) for the year ended December 31 [Note: Crowder capital at December 31 of the prior year was $255,000]; and (c) the balance sheet (BS tab) as of December 31. 2. Compute the profit margin for the year (profit margin tab) (use total revenues as the denominator). The adjusted...
Complete the Adjusted Trial Balance as of December 31, 2016 using the given information. Enter accounts...
Complete the Adjusted Trial Balance as of December 31, 2016 using the given information. Enter accounts in order of assets, liabilities, common stock, dividends, revenues, and expenses. Assume all accounts have normal balances. Accounts Payable 11,240 SMART TOUCH LEARNING Accounts Receivable 7,020 Accumulated Depreciation--Furniture 12,640 Adjusted Trial Balance December 31, 2016 Cash 30,910 120,860 Balance Credit Common Stock Cost of Goods Sold Account Title Furniture Debit 50,590 4,210 Depreciation Expense--Furniture Accounts Receivable 7,020 16,860 25,290 Dividends Accumulated Depreciation V 12,640...
The adjusted trial balance of rain company appears below using the information from the adjusted trial...
The adjusted trial balance of rain company appears below using
the information from the adjusted trial balance you are to prepare
for the month ending December 31
1. an income statement
2. A retained earnings statement
3. A balance sheet
figure out ş Problem #4 - 30 Points (FORMATTING IMPORTANT) The adjusted trial balance of Ryan Company trial balance, you are to prepare for the ance of Ryan Company appears below. Using the information from the adjusted you are to...
need help filling in the blanks given this data on this trial and adjusted trial balance...
need help filling in the blanks given this data on this trial and
adjusted trial balance
Trial Balance Debit Credit Adjusted Trial Balance Debit Credit 33,000 19,000 25,000 6,000 11,000 Account Titles Accounts Receivable Prepaid Insurance Supplies Accumulated Depreciation-Equipment Salaries and Wages Payable Service Revenue Insurance Expense Depreciation Expense Supplies Expense Salaries and Wages Expense 4,000 96,000 87,000 9,000 4,000 48,000 Your answer is partially correct. Try again Account Titles and Explanation Debit Credit Accounts Receivable Service Revenue (To record...
Selected worksheet data for Elsayed Company are presented below. Trial Balance Debit Credit Adjusted Trial Balance...
Selected worksheet data for Elsayed Company are presented
below.
Trial Balance Debit Credit Adjusted Trial Balance Debit Credit 33,670 19,517 25,182 6,118 11,984 Account Titles Accounts Receivable Prepaid Insurance Supplies Accumulated Depreciation Equipment Salaries and Wages Payable Service Revenue Insurance Expense Depreciation Expense Supplies Expense Salaries and Wages Expense 4,051 96,094 88,888 10,675 4,429 48,737 Fill in the missing amounts. Trial Balance Debit Credit Adjusted Trial Balance Debit Credit 33,670 19,517 25,182 6,118 11,984 Account Titles Accounts Receivable Prepaid Insurance...
1. (12 pts) The following data were taken from the adjusted trial balance of Star Search...
1. (12 pts) The following data were taken from the adjusted trial balance of Star Search Video Company. Star Search Video Company Adjusted Trial Balance Data December 31, 20D Accounts Payable Accounts Receivable Accumulated Depreciation-Building Accumulated Depreciation-Furniture & Fixtures Building Capital Stock Cash Copyrights Dividends Declared Furniture & Fixtures Land Note Payable (10%, duc in 5 years) Office Supplies Prepaid Insurance Retained Earnings (January 1, 20D) Salaries Payable Service Revenue Salaries Expense Utilities Expense Depreciation Expense Insurance Expense Office Supplies...
Print 1. The adjusted trial balance for Green Advertising Services is presented below: (Click on the icon to view the adjusted trial balance.) Read the requirements Requirement 1. Prepare the income statement for the year ending December 31, 2018. (Use a minus sign or parentheses to show a net loss. If a box is not used in the statement, leave the box emply; do not select a label or enter a zero.) Green Advertising Services Income Statement Year Ended December...
The adjusted trial balance of Ryan Company appears below. Using
the information from the adjusted trial balance, you are to prepare
for the month ending December 31:
1.
an income statement.
2.
a retained earnings statement.
3.
a balance sheet.
(You need to calculate the amount of
cash)
Trial Balance Debit 285,000 $ 45,000 16,500 178,500 Cash Accounts Receivable Allowance for Doubtful Accounts Supplies Prepaid Insurance Equipment Accumulated Depreciation - Equipment Notes Payable Accounts Payable Interest Payable...
Build the unadjusted trial balance and adjustments columns from the given information and total the columns. Only input amounts for accounts with balances and do not enter zeros for blank cells. Accounts Payable 5.900 Accounts Receivable 19.600 SMART TOUCH LEARNING Worksheet December 31, 2016 Cash 27,900 Unadjusted Trial Balance Adjustments Common Stock 38,600 Account Names Debit Credit Debit Credit Dividends 5.400 Cash 27900 Furniture 4.400 Accounts Receivable 19600 Notes Payable 6.700 Office Supplies R800 Office Supplies 8.800 Prepaid Rent 12700...
Complete the Adjusted Trial Balance as of December 31, 2016 using the given information. Enter accounts in order of assets, liabilities, common stock, dividends, revenues, and expenses. Assume all accounts have normal balances. Accounts Payable 11,240 SMART TOUCH LEARNING Accounts Receivable 7,020 Accumulated Depreciation--Furniture 12,640 Adjusted Trial Balance December 31, 2016 Cash 30,910 120,860 Balance Credit Common Stock Cost of Goods Sold Account Title Furniture Debit 50,590 4,210 Depreciation Expense--Furniture Accounts Receivable 7,020 16,860 25,290 Dividends Accumulated Depreciation V 12,640...
The adjusted trial balance of rain company appears below using
the information from the adjusted trial balance you are to prepare
for the month ending December 31
1. an income statement
2. A retained earnings statement
3. A balance sheet
figure out ş Problem #4 - 30 Points (FORMATTING IMPORTANT) The adjusted trial balance of Ryan Company trial balance, you are to prepare for the ance of Ryan Company appears below. Using the information from the adjusted you are to...
need help filling in the blanks given this data on this trial and
adjusted trial balance
Trial Balance Debit Credit Adjusted Trial Balance Debit Credit 33,000 19,000 25,000 6,000 11,000 Account Titles Accounts Receivable Prepaid Insurance Supplies Accumulated Depreciation-Equipment Salaries and Wages Payable Service Revenue Insurance Expense Depreciation Expense Supplies Expense Salaries and Wages Expense 4,000 96,000 87,000 9,000 4,000 48,000 Your answer is partially correct. Try again Account Titles and Explanation Debit Credit Accounts Receivable Service Revenue (To record...
Selected worksheet data for Elsayed Company are presented
below.
Trial Balance Debit Credit Adjusted Trial Balance Debit Credit 33,670 19,517 25,182 6,118 11,984 Account Titles Accounts Receivable Prepaid Insurance Supplies Accumulated Depreciation Equipment Salaries and Wages Payable Service Revenue Insurance Expense Depreciation Expense Supplies Expense Salaries and Wages Expense 4,051 96,094 88,888 10,675 4,429 48,737 Fill in the missing amounts. Trial Balance Debit Credit Adjusted Trial Balance Debit Credit 33,670 19,517 25,182 6,118 11,984 Account Titles Accounts Receivable Prepaid Insurance...
1. (12 pts) The following data were taken from the adjusted trial balance of Star Search Video Company. Star Search Video Company Adjusted Trial Balance Data December 31, 20D Accounts Payable Accounts Receivable Accumulated Depreciation-Building Accumulated Depreciation-Furniture & Fixtures Building Capital Stock Cash Copyrights Dividends Declared Furniture & Fixtures Land Note Payable (10%, duc in 5 years) Office Supplies Prepaid Insurance Retained Earnings (January 1, 20D) Salaries Payable Service Revenue Salaries Expense Utilities Expense Depreciation Expense Insurance Expense Office Supplies...
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