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Chapter 2 HW Fife & Company, a public corporation offering accounting services to low income clients...
REQUIRED: Homework Chapter 26 Help Sal Squirrel Tree Services reports the following amounts on December 31...
REQUIRED: Homework Chapter 26 Help Sal Squirrel Tree Services reports the following amounts on December 31 Assets Cash Supplies Prepaid insurance Building Liabilities and Stockholders' Equity $ 8,200 Accounts payable $ 11,200 2,300 Salaries payable 4,000 4,000 Notes payable 25.000 77,000 Common stock 40,000 Retained earnings 11.300 points Skloped References In addition, the company reported the following cash flows. Cash Inflows Customers Borrow from the bank (note) Sale of investments Cash Outflows $70,000 Employee salaries 25,000 Supplies 17500 Dividends Purchase...
On January 1, 2020, Mr. Wild formed a corporation to provide services to clients. Information about...
On January 1, 2020, Mr. Wild formed a corporation to provide services to clients. Information about the first year of operation follows: Jan. 1 Investors provided $1,500,000 in cash in exchange for stock of The Wild Corporation. Jan. 1 Purchased equipment in exchange for $100,000 cash and a $1,900,000 note payable at an annual rate of 5%, payable every 6 months. Jan. 1 Purchased $45,000 of insurance that will cover the next 3 years. This was recorded as prepaid insurance....
need help with part 1 & 2 1. Post and calculate trial balance for the following...
need help with part 1 & 2
1. Post and calculate trial balance for the following transactions for 'AAA Catering! Jan. 1 Stockholders invested $20,000 cash in the business in exchange of comm. stock 2 Paid $1,000 cash for store rent for the month of January 3 Purchased washers and dryers (laundry equipment) for $25,000 paying $10,000 in cash and signing a $15,000 note payable 4 Paid $1,200 cash for a one-year accident insurance policy 10 Declared and paid a...
Exercise 3-21A Complete the accounting cycle (LO3-3, 3-4, 3-5, 3-6) (GL) On January 1, 2021, the...
Exercise 3-21A Complete the accounting cycle (LO3-3, 3-4, 3-5,
3-6) (GL)
On January 1, 2021, the general ledger of Dynamite Fireworks
includes the following account balances:
Accounts
Debit
Credit
Cash
$
24,300
Accounts Receivable
5,700
Supplies
3,600
Land
55,000
Accounts Payable
$
3,700
Common Stock
70,000
Retained Earnings
14,900
Totals
$
88,600
$
88,600
During January 2021, the following transactions occur:
January
2
Purchase rental space for one year in advance, $7,500
($625/month).
January
9
Purchase additional supplies on account,...
1. Fees received in advance from clients $6,000, which were recorded as revenue. 2. Services performed...
1. Fees received in advance from clients $6,000, which were
recorded as revenue.
2. Services performed for clients that were not recorded by
December 31, $4,900.
3. Bad debt expense for the year is $1,430.
4. Insurance expired during the year $480.
5. Equipment is being depreciated at 10% per year.
6. Perez gave the bank a 90-day, 10% note for $7,200 on December 1,
2020.
7. Rent of the building is $750 per month. The rent for 2020 has...
I am almost gotten everything just I am looking for a which date The general ledger...
I am almost gotten everything just I am looking for a which
date
The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account balances: DebitsCredita Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Salaries Payable Common Stock Retained Earnings $20,000 8,000 4,000 15,000 $ 5,000 7,500 25,000 9,500 47,000 47,000 Totals The following is a summary of the transactions for the year 1. March 12 Provide services to custoners, $60,000, of which 21,000 is on account....
On January 1, 2020, Mr. Wild formed a corporation to provide services to clients. Information about...
On January 1, 2020, Mr. Wild formed a corporation to provide services to clients. Information about the first year of operation follows: Jan. 1 Investors provided $1,500,000 in cash in exchange for stock of The Wild Corporation. Jan. 1 Purchased equipment in exchange for $100,000 cash and a $1,900,000 note payable at an annual rate of 5%, payable every 6 months. Jan. 1 Purchased $45,000 of insurance that will cover the next 3 years. This was recorded as prepaid insurance....
Consider the following income statement for the Heir Jordan Corporation: HEIR JORDAN CORPORATION Income Statement $45,300...
Consider the following income statement for the Heir Jordan Corporation: HEIR JORDAN CORPORATION Income Statement $45,300 35.100 Sales Costs Taxable income Taxes (259) $10,200 2,550 Net income $ 7,650 Dividends Addition to retained earnings $2,504 5,146 The balance sheet for the Heir Jordan Corporation follows. HEIR JORDAN CORPORATION Balance Sheet Assets Liabilities and Owners' Equity Current assets Current liabilities Cash $ 2.000 Accounts payable $ 2,400 Accounts receivable 4.600 Notes payable 4,400 Inventory 6,400 Total $ 6,800 Total $ 13,000...
acct hw help QUESTION 26 Elston Company compiled the following financial information as of December 31,...
acct hw help
QUESTION 26 Elston Company compiled the following financial information as of December 31, 2014: Service revenue $700,000 Common stock 150,000 Machine 350,000 Operating expenses 625,000 Cash 200,000 Dividends 50,000 Supplies 25,000 Accounts payable 100,000 Accounts receivable 75,000 Inventory 80,000 Retained earnings, 1/1/14 375,000 Elston's assets on December 31, 2014 are $650,000 $730,000 OO $625,000 $475,000 QUESTION 25 These financial statement items are for ABC Corporation at year-end, December 31, 2011: Salaries expense Utilities expense Equipment Accounts Payable...
PLUSWeygandt, Financial Accounting, 10e ESOURCES Brief Exercise 2-8 Selected journal entries for the Nikolal Company are...
PLUSWeygandt, Financial Accounting, 10e ESOURCES Brief Exercise 2-8 Selected journal entries for the Nikolal Company are presented below. e 2-2 31 Date Account Titles and ExplanationRef. Debit Credit May 5 Accounts Recelvable Service Revenue e 2-6 5,000 5,000 (Billed for services performed) 12 Cash 2,100 e 2-10 Accounts Receivable 2,100 (Received cash in payment of account) 15 Cash 3,200 Service Revenue 3,200 (Received cash for services performed) Post the transactions using the standard form of account. (Post entries in the...
REQUIRED: Homework Chapter 26 Help Sal Squirrel Tree Services reports the following amounts on December 31 Assets Cash Supplies Prepaid insurance Building Liabilities and Stockholders' Equity $ 8,200 Accounts payable $ 11,200 2,300 Salaries payable 4,000 4,000 Notes payable 25.000 77,000 Common stock 40,000 Retained earnings 11.300 points Skloped References In addition, the company reported the following cash flows. Cash Inflows Customers Borrow from the bank (note) Sale of investments Cash Outflows $70,000 Employee salaries 25,000 Supplies 17500 Dividends Purchase...
need help with part 1 & 2
1. Post and calculate trial balance for the following transactions for 'AAA Catering! Jan. 1 Stockholders invested $20,000 cash in the business in exchange of comm. stock 2 Paid $1,000 cash for store rent for the month of January 3 Purchased washers and dryers (laundry equipment) for $25,000 paying $10,000 in cash and signing a $15,000 note payable 4 Paid $1,200 cash for a one-year accident insurance policy 10 Declared and paid a...
Exercise 3-21A Complete the accounting cycle (LO3-3, 3-4, 3-5,
3-6) (GL)
On January 1, 2021, the general ledger of Dynamite Fireworks
includes the following account balances:
Accounts
Debit
Credit
Cash
$
24,300
Accounts Receivable
5,700
Supplies
3,600
Land
55,000
Accounts Payable
$
3,700
Common Stock
70,000
Retained Earnings
14,900
Totals
$
88,600
$
88,600
During January 2021, the following transactions occur:
January
2
Purchase rental space for one year in advance, $7,500
($625/month).
January
9
Purchase additional supplies on account,...
1. Fees received in advance from clients $6,000, which were
recorded as revenue.
2. Services performed for clients that were not recorded by
December 31, $4,900.
3. Bad debt expense for the year is $1,430.
4. Insurance expired during the year $480.
5. Equipment is being depreciated at 10% per year.
6. Perez gave the bank a 90-day, 10% note for $7,200 on December 1,
2020.
7. Rent of the building is $750 per month. The rent for 2020 has...
I am almost gotten everything just I am looking for a which
date
The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account balances: DebitsCredita Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Salaries Payable Common Stock Retained Earnings $20,000 8,000 4,000 15,000 $ 5,000 7,500 25,000 9,500 47,000 47,000 Totals The following is a summary of the transactions for the year 1. March 12 Provide services to custoners, $60,000, of which 21,000 is on account....
Consider the following income statement for the Heir Jordan Corporation: HEIR JORDAN CORPORATION Income Statement $45,300 35.100 Sales Costs Taxable income Taxes (259) $10,200 2,550 Net income $ 7,650 Dividends Addition to retained earnings $2,504 5,146 The balance sheet for the Heir Jordan Corporation follows. HEIR JORDAN CORPORATION Balance Sheet Assets Liabilities and Owners' Equity Current assets Current liabilities Cash $ 2.000 Accounts payable $ 2,400 Accounts receivable 4.600 Notes payable 4,400 Inventory 6,400 Total $ 6,800 Total $ 13,000...
acct hw help
QUESTION 26 Elston Company compiled the following financial information as of December 31, 2014: Service revenue $700,000 Common stock 150,000 Machine 350,000 Operating expenses 625,000 Cash 200,000 Dividends 50,000 Supplies 25,000 Accounts payable 100,000 Accounts receivable 75,000 Inventory 80,000 Retained earnings, 1/1/14 375,000 Elston's assets on December 31, 2014 are $650,000 $730,000 OO $625,000 $475,000 QUESTION 25 These financial statement items are for ABC Corporation at year-end, December 31, 2011: Salaries expense Utilities expense Equipment Accounts Payable...
PLUSWeygandt, Financial Accounting, 10e ESOURCES Brief Exercise 2-8 Selected journal entries for the Nikolal Company are presented below. e 2-2 31 Date Account Titles and ExplanationRef. Debit Credit May 5 Accounts Recelvable Service Revenue e 2-6 5,000 5,000 (Billed for services performed) 12 Cash 2,100 e 2-10 Accounts Receivable 2,100 (Received cash in payment of account) 15 Cash 3,200 Service Revenue 3,200 (Received cash for services performed) Post the transactions using the standard form of account. (Post entries in the...
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