Homework Answers
Net Income = Service Revenue - Total Expenses
Net Income = 36300 - 22550
Net Income = 13750
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View Policies Current Attempt in Progress The adjusted trial balance of Marigold Corp. at December 31,...
Question 12 View Policies Current Attempt in Progress This information relates to Bramble Corp. for the...
Question 12 View Policies Current Attempt in Progress This information relates to Bramble Corp. for the year 2017. Retained earnings, January 1, 2017 $84,420 Advertising expense 2,268 Dividends 7,560 Rent expense 13,104 Service revenue 73,080 Utilities expense 3,024 Salaries and wages expense 37,800 Bramble Corp. Income Statement For the Year Ended December 31, 2017 e Textbook and Media After analyzing the data, prepare a retained earnings statement for the year ending December 31 Bramble Corp. Retained Earnings Statement / /...
Partial adjusted trial balance for Pina Colada Corp. at December 31, 2017, includes the following accounts:...
Partial adjusted trial balance for Pina Colada Corp. at December 31, 2017, includes the following accounts: Retained Earnings $16,700, Dividends $4,700, Service Revenue $36,300, Salaries and Wages Expense $15,000, Insurance Expense S1,980, Rent Expense $4,000, Supplies Expense $1,590, and Depreciation Expense丰900. The balance in Retained Earnings is the balance as of January 1. Prepare a retained earnings statement for the year assuming net income is $10,400. (List items that increase retained earnings first.) PINA COLADA CORP Retained Eanings Statement For...
The adjusted trial balance of Martinez Corp. at December 31, 2022, includes the following accounts: Retained...
The adjusted trial balance of Martinez Corp. at December 31, 2022, includes the following accounts: Retained Earnings $17.200, Dividends $4,000, Service Revenue $35,800, Salaries and Wages Expense $13,800, Insurance Expense $1,880, Rent Expense $3,910, Supplies Expense $1,550, and Depreciation Expense $840. Prepare an income statement for the year. MARTINEZ CORP Income Statement For the Year Ended December 31, 2022 I $
Brief Exercise 4-11 Partial adjusted trial balance for Sheffield Corp. at December 31, 2017, includes the...
Brief Exercise 4-11 Partial adjusted trial balance for Sheffield Corp. at December 31, 2017, includes the following accounts: Retained Earnings $17,000, Dividends $6,700, Service Revenue $36,300 Salaies and Wages Expense $14,000, Insurance Expense $1,880, Rent Expense $4,080, Supplies Expense $1,440, and Depreciation Expense $900. The balance in Retained Earnings is the balance as of January 1 Prepare a retained earnings statement for the year assuming net income is $10,400. (List items that increase retained earnings first.) SHEFFIELD CORP Retained Eamings...
Current Attempt in Progress The unadjusted trial balance for Marigold Corp. is shown below. MARIGOLD CORP....
Current Attempt in Progress The unadjusted trial balance for Marigold Corp. is shown below. MARIGOLD CORP. Trial Balance October 31, 2022 Debit Credit Cash $16,070 Supplies 2.880 Prepaid Insurance 750 Equipment 4.800 Notes Payable $4,800 Accounts Payable 2.500 Unearned Service Revenue 1,760 Common Stock 11,150 Retained Earnings Dividends 690 Service Revenue 10,100 Salaries and Wages Expense 4,000 Rent Expense 1,120 $30,310 $30,310 Assume the following adjustment data. 1. Supplies on hand at October 31 total $570. 2. Expired insurance for...
Question 5 View Policies Show Attempt History Current Attempt in Progress In its income statement for...
Question 5 View Policies Show Attempt History Current Attempt in Progress In its income statement for the year ended December 31, 2022, Marigold Corp.reported the following condensed data, Operating expenses $ 713,000 Interest revenue $ 25,000 Cost of goods sold 1,248,000 Loss on disposal of plant assets 9,000 Interest expense 62,000 Net sales 2,192,000 Income tax expense 36,000 Other comprehensive income (net of $1,200 tax) 7,500 Your answer is partially correct. Prepare a multiple-step income statement. Marigold Corp. Income Statement...
View Policies Current Attempt in Progress Selected year-end account balances from the adjusted trial balance as...
View Policies Current Attempt in Progress Selected year-end account balances from the adjusted trial balance as of December 31, 2022, for Flint Corporation is provided below. Debit Credit Accounts Receivable Dividends Depreciation Expense Equipment Salaries and Wages Expense Accounts Payable Accumulated Depreciation Equipment Unearned Rent Revenue Service Revenue $90,020 32,610 16,370 263,870 112,960 $65,720 142,350 28,400 227,910 7,690 Rent Revenue 4,460 Rent Expense Retained Earnings Supplies Expense 76,630 1,740 Date Account Titles and Explanation Debit Credit Dec. 31 (To close...
Question 7 View Policies Current Attempt in Progress The adjusted trial balance for Carla Vista Co....
Question 7 View Policies Current Attempt in Progress The adjusted trial balance for Carla Vista Co. is given below: CARLA VISTA CO. Trial Balance August 31, 2022 Before Adjustment After Adjustment Dr. Cr. Dr. Cr. Cash $10,460 $10,460 Accounts Receivable 9,120 9.630 Supplies 1.960 2,990 4.200 Prepaid Insurance 2.750 Equipment 15,800 15,800 Accumulated Depreciation Equipment $4.755 $3.555 5.420 Accounts Payable 5.420 Salaries and Wages Payable 0 1,390 Unearned Rent Revenue 2.140 1.380 Common Stock 17,500 17.500 Retained Earnings 5,380 5,380...
Selected year-end account balances from the adjusted trial balance as of December 31, 2022, for Marigold...
Selected year-end account balances from the adjusted trial balance as of December 31, 2022, for Marigold Corp. is provided below. Credit Debit $55,180 19,990 10,030 161,730 69,240 Accounts Receivable Dividends Depreciation Expense Equipment Salaries and Wages Expense Accounts Payable Accumulated Depreciation-Equipment Unearned Rent Revenue Service Revenue Rent Revenue Rent Expense Retained Earnings Supplies Expense $40,280 87,250 17,400 139,690 4,710 2,740 46,970 1,060 Determine the post-closing balance in Retained Earnings. (Post entries in the order of journal entries presented in the...
Question 3 View Policies Show Attempt History Current Attempt in Progress Carla Vista Lakes Park is...
Question 3 View Policies Show Attempt History Current Attempt in Progress Carla Vista Lakes Park is a private camping ground near the Mount Miguel Recreation Area. It has compiled the following financial information as of December 31, 2022. Service revenue (from camping fees) $170,000 Dividends Sales revenue (from general store) Accounts payable $12,600 70,000 156,600 7,700 56,000 7,000 30,000 Notes payable 15,400 Expenses during 2022 11,900 Supplies 159,600 Common stock Retained earnings (1/1/2022) Cash Equipment Your answer is incorrect. Determine...
Question 12 View Policies Current Attempt in Progress This information relates to Bramble Corp. for the year 2017. Retained earnings, January 1, 2017 $84,420 Advertising expense 2,268 Dividends 7,560 Rent expense 13,104 Service revenue 73,080 Utilities expense 3,024 Salaries and wages expense 37,800 Bramble Corp. Income Statement For the Year Ended December 31, 2017 e Textbook and Media After analyzing the data, prepare a retained earnings statement for the year ending December 31 Bramble Corp. Retained Earnings Statement / /...
Partial adjusted trial balance for Pina Colada Corp. at December 31, 2017, includes the following accounts: Retained Earnings $16,700, Dividends $4,700, Service Revenue $36,300, Salaries and Wages Expense $15,000, Insurance Expense S1,980, Rent Expense $4,000, Supplies Expense $1,590, and Depreciation Expense丰900. The balance in Retained Earnings is the balance as of January 1. Prepare a retained earnings statement for the year assuming net income is $10,400. (List items that increase retained earnings first.) PINA COLADA CORP Retained Eanings Statement For...
The adjusted trial balance of Martinez Corp. at December 31, 2022, includes the following accounts: Retained Earnings $17.200, Dividends $4,000, Service Revenue $35,800, Salaries and Wages Expense $13,800, Insurance Expense $1,880, Rent Expense $3,910, Supplies Expense $1,550, and Depreciation Expense $840. Prepare an income statement for the year. MARTINEZ CORP Income Statement For the Year Ended December 31, 2022 I $
Brief Exercise 4-11 Partial adjusted trial balance for Sheffield Corp. at December 31, 2017, includes the following accounts: Retained Earnings $17,000, Dividends $6,700, Service Revenue $36,300 Salaies and Wages Expense $14,000, Insurance Expense $1,880, Rent Expense $4,080, Supplies Expense $1,440, and Depreciation Expense $900. The balance in Retained Earnings is the balance as of January 1 Prepare a retained earnings statement for the year assuming net income is $10,400. (List items that increase retained earnings first.) SHEFFIELD CORP Retained Eamings...
Current Attempt in Progress The unadjusted trial balance for Marigold Corp. is shown below. MARIGOLD CORP. Trial Balance October 31, 2022 Debit Credit Cash $16,070 Supplies 2.880 Prepaid Insurance 750 Equipment 4.800 Notes Payable $4,800 Accounts Payable 2.500 Unearned Service Revenue 1,760 Common Stock 11,150 Retained Earnings Dividends 690 Service Revenue 10,100 Salaries and Wages Expense 4,000 Rent Expense 1,120 $30,310 $30,310 Assume the following adjustment data. 1. Supplies on hand at October 31 total $570. 2. Expired insurance for...
Question 5 View Policies Show Attempt History Current Attempt in Progress In its income statement for the year ended December 31, 2022, Marigold Corp.reported the following condensed data, Operating expenses $ 713,000 Interest revenue $ 25,000 Cost of goods sold 1,248,000 Loss on disposal of plant assets 9,000 Interest expense 62,000 Net sales 2,192,000 Income tax expense 36,000 Other comprehensive income (net of $1,200 tax) 7,500 Your answer is partially correct. Prepare a multiple-step income statement. Marigold Corp. Income Statement...
View Policies Current Attempt in Progress Selected year-end account balances from the adjusted trial balance as of December 31, 2022, for Flint Corporation is provided below. Debit Credit Accounts Receivable Dividends Depreciation Expense Equipment Salaries and Wages Expense Accounts Payable Accumulated Depreciation Equipment Unearned Rent Revenue Service Revenue $90,020 32,610 16,370 263,870 112,960 $65,720 142,350 28,400 227,910 7,690 Rent Revenue 4,460 Rent Expense Retained Earnings Supplies Expense 76,630 1,740 Date Account Titles and Explanation Debit Credit Dec. 31 (To close...
Question 7 View Policies Current Attempt in Progress The adjusted trial balance for Carla Vista Co. is given below: CARLA VISTA CO. Trial Balance August 31, 2022 Before Adjustment After Adjustment Dr. Cr. Dr. Cr. Cash $10,460 $10,460 Accounts Receivable 9,120 9.630 Supplies 1.960 2,990 4.200 Prepaid Insurance 2.750 Equipment 15,800 15,800 Accumulated Depreciation Equipment $4.755 $3.555 5.420 Accounts Payable 5.420 Salaries and Wages Payable 0 1,390 Unearned Rent Revenue 2.140 1.380 Common Stock 17,500 17.500 Retained Earnings 5,380 5,380...
Selected year-end account balances from the adjusted trial balance as of December 31, 2022, for Marigold Corp. is provided below. Credit Debit $55,180 19,990 10,030 161,730 69,240 Accounts Receivable Dividends Depreciation Expense Equipment Salaries and Wages Expense Accounts Payable Accumulated Depreciation-Equipment Unearned Rent Revenue Service Revenue Rent Revenue Rent Expense Retained Earnings Supplies Expense $40,280 87,250 17,400 139,690 4,710 2,740 46,970 1,060 Determine the post-closing balance in Retained Earnings. (Post entries in the order of journal entries presented in the...
Question 3 View Policies Show Attempt History Current Attempt in Progress Carla Vista Lakes Park is a private camping ground near the Mount Miguel Recreation Area. It has compiled the following financial information as of December 31, 2022. Service revenue (from camping fees) $170,000 Dividends Sales revenue (from general store) Accounts payable $12,600 70,000 156,600 7,700 56,000 7,000 30,000 Notes payable 15,400 Expenses during 2022 11,900 Supplies 159,600 Common stock Retained earnings (1/1/2022) Cash Equipment Your answer is incorrect. Determine...
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