Homework Answers
| Cash | Accounts Receivable | |||||||
| Beg. Bal. | $7100 | Beg. Bal. | $29750 | |||||
| a. | 795 | 3400 | h. | d. | 7600 | 6400 | e. | |
| b. | 545 | 16900 | i. | |||||
| c. | 14425 | 1140 | j. | |||||
| e. | 6400 | |||||||
| End. Bal. | $7825 | End. Bal. | $30950 | |||||
| Supplies | Equipment | |||||||
| Beg. Bal. | $2200 | Beg. Bal. | $11200 | |||||
| j. | 1140 | |||||||
| End. Bal. | $3340 | End. Bal. | $11200 | |||||
| Land | Building | |||||||
| Beg. Bal. | $9800 | Beg. Bal. | $22600 | |||||
| End. Bal. | $9800 | End. Bal. | $22600 | |||||
| Accounts Payable | Deferred Revenue | |||||||
| Beg. Bal. | $12500 | Beg. Bal. | $3550 | |||||
| h. | 3400 | 750 | f. | 795 | a. | |||
| End. Bal. | $9850 | End. Bal. | $4345 | |||||
| Notes Payable | Common Stock | |||||||
| Beg. Bal. | $42250 | Beg. Bal. | $17000 | |||||
| End. Bal. | $42250 | End. Bal. | $17000 | |||||
| Retained Earnings | Service Revenue | |||||||
| Beg. Bal. | $7350 | Beg. Bal. | ||||||
| 14425 | c. | |||||||
| 7600 | d. | |||||||
| End. Bal. | $7350 | End. Bal. | $22025 | |||||
| Rent Revenue | Salaries and Wages Expense | |||||||
| Beg. Bal. | Beg. Bal. | |||||||
| 545 | b. | i. | 16900 | |||||
| End. Bal. | $545 | End. Bal. | $16900 | |||||
| Utilities Expense | ||||||||
| Beg. Bal. | ||||||||
| f. | 750 | |||||||
| End. Bal. | $750 | |||||||
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Required information [The following information applies to the questions displayed below.) Ricky's Piano Rebuilding Company has...
Required Information The following information applies to the questions displayed below) Ricky's Piano Rebuilding Company has...
Required Information The following information applies to the questions displayed below) Ricky's Piano Rebuilding Company has been operating for one year. On January 1, at the start of its second year, its income statement accounts had zero balances and its balance sheet account balances were as follows: Cash Accounts Receivable Supplies Equipment Land Building $ 8,700 Accounts Payable 35,75e Deferred Revenue (deposits) 2,658 Notes Payable (long-term) 8,480 Common Stock 5,258 Retained Earnings 25,900 $ 9,388 4,250 46,000 8,500 19,6ee Following...
Required information [The following information applies to the questions displayed below.] Ricky's Piano Rebuilding Company has...
Required information [The following information applies to the questions displayed below.] Ricky's Piano Rebuilding Company has been operating for one year. On January 1, at the start of its second year, its income statement accounts had zero balances and its balance sheet account balances were as follows: Cash Accounts Receivable Supplies Equipment Land Building $ 7,200 Accounts Payable 49,750 Deferred Revenue (deposits) 1,800 Notes Payable (long-term) 9,900 Common Stock 6,600 Retained Earnings 24,900 $ 8,650 4,800 63,000 16,000 7,700 Following...
Required information (The following information applies to the questions displayed below.] Ricky's Piano Rebuilding Company has...
Required information (The following information applies to the questions displayed below.] Ricky's Piano Rebuilding Company has been operating for one year. On January 1, at the start of its second year, its income statement accounts had zero balances and its balance sheet account balances were as follows: Cash Accounts Receivable Supplies Equipment Land Building $ 7,850 Accounts Payable 15,000 Deferred Revenue (deposits) 2,100 Notes Payable (long-term) 9,500 Common Stock 8,400 Retained Earnings 28,400 $10,300 4,400 41,500 10,000 5,050 Following are...
Required information [The following information applies to the questions displayed below.) Stacey's Piano Rebuilding Company has...
Required information [The following information applies to the questions displayed below.) Stacey's Piano Rebuilding Company has been operating for one year. At the start of the second year, its income statement accounts had zero balances and its balance sheet account balances were as follows: Cash Accounts receivable Supplies Equipment Land Building $ 6,400 Accounts payable 32,000 Unearned revenue 1,500 Long-term note payable 9,500 Common stock 7,400 Additional paid-in capital 25,300 Retained earnings $ 9,600 3,840 48,500 1,600 7,000 11,560 a....
Required information [The following information applies to the questions displayed below.) Ricky's Piano Rebuilding Company has...
Required information [The following information applies to the questions displayed below.) Ricky's Piano Rebuilding Company has been operating for one year. On January 1, at the start of its second year, its income statement accounts had zero balances and its balance sheet account balances were as follows: Cash Accounts Receivable Supplies Equipment Land Building $ 6,000 Accounts Payable 25,000 Deferred Revenue (deposits) 1,200 Notes Payable (long-term) 8,000 Common Stock 6,000 Retained Earnings 22.000 $ 8,000 3,200 40,000 8,000 9,000 ces...
Required information [The following information applies to the questions displayed below.] Stacey's Piano Rebuilding Company has...
Required information [The following information applies to the questions displayed below.] Stacey's Piano Rebuilding Company has been operating for one year. At the start of the second year, its income statement accounts had zero balances and its balance sheet account balances were as follows: $ $ Cash Accounts receivable Supplies Equipment Land Building 6,300 31,000 1,520 10,400 7,400 26,500 Accounts payable Unearned revenue Long-term note payable Common stock Additional paid-in capital Retained earnings 8,900 2,840 47,600 1,540 6,160 16,080 a....
Required Information [The following information applies to the questions displayed below.) Ricky's Plano Rebuilding Company has...
Required Information [The following information applies to the questions displayed below.) Ricky's Plano Rebuilding Company has been operating for one year. On January 1, at the start of its second year, Its Income statement accounts had zero balances and its balance sheet account balances were as follows: Cash Accounts Receivable Supplies Equipment Land Building $ 6,300 Accounts Payable 31,898 Deferred Revenue (deposits) 2,550 Notes Payable (long-term) 12,380 Common Stock 9,150 Retained Earnings 26, Bee $ 8,850 4.450 49, eee 12,5ee...
Ricky's Piano Rebuilding Company has been operating for one year (2016). At the start of 2017,...
Ricky's Piano Rebuilding Company has been operating for one year (2016). At the start of 2017, its income statement accounts had zero balances and its balance sheet account balances were as follows: Cash Accounts Receivable Supplies Equipment Land Building $ 7,800 Accounts Payable 30,400 Deferred Revenue (deposits) 1,740 Notes Payable 9,899 Contributed Capital 7,800 Retained Earnings 31,000 $ 9,800 3,740 54,400 9,800 10,800 Required: 2. Prepare journal entries for the following January 2017 transactions, using the letter of each transaction...
The following information applies to the questions displayed below) Stacey's Plano Rebuilding Company has been operating...
The following information applies to the questions displayed below) Stacey's Plano Rebuilding Company has been operating for one year. Al the start of the second year, its income statement accounts had zero balances and its balance sheet account balances were as follows: Cash Accounts receivable Supplies Equipment Land Building $ 6,600 30,800 1530 10.300 8,000 26,500 Accounts payable Uneamed revenue Note payable long term Common stock Retained earnings Additional paid in capital $ 9.000 3,640 47200 1580 15.900 6,320 a....
5. Required information [The following information applies to the questions displayed below.] Ricky’s Piano Rebuilding Company...
5. Required information [The following information applies to the questions displayed below.] Ricky’s Piano Rebuilding Company has been operating for one year. On January 1, at the start of its second year, its income statement accounts had zero balances and its balance sheet account balances were as follows: Cash $ 7,250 Accounts Payable $ 12,350 Accounts Receivable 33,000 Deferred Revenue (deposits) 4,200 Supplies 1,750 Notes Payable (long-term) 40,750 Equipment 10,500 Common Stock 11,000 Land 6,650 Retained Earnings 18,350 Building 27,500...
Required Information The following information applies to the questions displayed below) Ricky's Piano Rebuilding Company has been operating for one year. On January 1, at the start of its second year, its income statement accounts had zero balances and its balance sheet account balances were as follows: Cash Accounts Receivable Supplies Equipment Land Building $ 8,700 Accounts Payable 35,75e Deferred Revenue (deposits) 2,658 Notes Payable (long-term) 8,480 Common Stock 5,258 Retained Earnings 25,900 $ 9,388 4,250 46,000 8,500 19,6ee Following...
Required information [The following information applies to the questions displayed below.] Ricky's Piano Rebuilding Company has been operating for one year. On January 1, at the start of its second year, its income statement accounts had zero balances and its balance sheet account balances were as follows: Cash Accounts Receivable Supplies Equipment Land Building $ 7,200 Accounts Payable 49,750 Deferred Revenue (deposits) 1,800 Notes Payable (long-term) 9,900 Common Stock 6,600 Retained Earnings 24,900 $ 8,650 4,800 63,000 16,000 7,700 Following...
Required information (The following information applies to the questions displayed below.] Ricky's Piano Rebuilding Company has been operating for one year. On January 1, at the start of its second year, its income statement accounts had zero balances and its balance sheet account balances were as follows: Cash Accounts Receivable Supplies Equipment Land Building $ 7,850 Accounts Payable 15,000 Deferred Revenue (deposits) 2,100 Notes Payable (long-term) 9,500 Common Stock 8,400 Retained Earnings 28,400 $10,300 4,400 41,500 10,000 5,050 Following are...
Required information [The following information applies to the questions displayed below.) Stacey's Piano Rebuilding Company has been operating for one year. At the start of the second year, its income statement accounts had zero balances and its balance sheet account balances were as follows: Cash Accounts receivable Supplies Equipment Land Building $ 6,400 Accounts payable 32,000 Unearned revenue 1,500 Long-term note payable 9,500 Common stock 7,400 Additional paid-in capital 25,300 Retained earnings $ 9,600 3,840 48,500 1,600 7,000 11,560 a....
Required information [The following information applies to the questions displayed below.) Ricky's Piano Rebuilding Company has been operating for one year. On January 1, at the start of its second year, its income statement accounts had zero balances and its balance sheet account balances were as follows: Cash Accounts Receivable Supplies Equipment Land Building $ 6,000 Accounts Payable 25,000 Deferred Revenue (deposits) 1,200 Notes Payable (long-term) 8,000 Common Stock 6,000 Retained Earnings 22.000 $ 8,000 3,200 40,000 8,000 9,000 ces...
Required information [The following information applies to the questions displayed below.] Stacey's Piano Rebuilding Company has been operating for one year. At the start of the second year, its income statement accounts had zero balances and its balance sheet account balances were as follows: $ $ Cash Accounts receivable Supplies Equipment Land Building 6,300 31,000 1,520 10,400 7,400 26,500 Accounts payable Unearned revenue Long-term note payable Common stock Additional paid-in capital Retained earnings 8,900 2,840 47,600 1,540 6,160 16,080 a....
Required Information [The following information applies to the questions displayed below.) Ricky's Plano Rebuilding Company has been operating for one year. On January 1, at the start of its second year, Its Income statement accounts had zero balances and its balance sheet account balances were as follows: Cash Accounts Receivable Supplies Equipment Land Building $ 6,300 Accounts Payable 31,898 Deferred Revenue (deposits) 2,550 Notes Payable (long-term) 12,380 Common Stock 9,150 Retained Earnings 26, Bee $ 8,850 4.450 49, eee 12,5ee...
Ricky's Piano Rebuilding Company has been operating for one year (2016). At the start of 2017, its income statement accounts had zero balances and its balance sheet account balances were as follows: Cash Accounts Receivable Supplies Equipment Land Building $ 7,800 Accounts Payable 30,400 Deferred Revenue (deposits) 1,740 Notes Payable 9,899 Contributed Capital 7,800 Retained Earnings 31,000 $ 9,800 3,740 54,400 9,800 10,800 Required: 2. Prepare journal entries for the following January 2017 transactions, using the letter of each transaction...
The following information applies to the questions displayed below) Stacey's Plano Rebuilding Company has been operating for one year. Al the start of the second year, its income statement accounts had zero balances and its balance sheet account balances were as follows: Cash Accounts receivable Supplies Equipment Land Building $ 6,600 30,800 1530 10.300 8,000 26,500 Accounts payable Uneamed revenue Note payable long term Common stock Retained earnings Additional paid in capital $ 9.000 3,640 47200 1580 15.900 6,320 a....
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