Homework Answers
| a | going concern assumption |
| b | economic entity assumption |
| c | full disclosure principle |
| d | monetary unit assumption |
| e | materiality |
| f | periodicity assumption |
| g | expense recognition assumption |
| h | historical cost principle |
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Question 1 of 5 -/5 View Policies Current Attempt in Progress Identify the accounting concept that...
Question 5 of 5 < > - /20 Current Attempt in Progress The Crane Hotel opened...
Question 5 of 5 < > - /20 Current Attempt in Progress The Crane Hotel opened for business on May 1, 2022. Here is its trial balance before adjustment on May 31. CRANE HOTEL Trial Balance May 31, 2022 Credit Debit $ 2,453 2,600 1,800 14,953 72,400 16,800 Cash Supplies Prepaid Insurance Land Buildings Equipment Accounts Payable Unearned Rent Revenue Mortgage Payable Common Stock Rent Revenue Salaries and Wages Expense Utilities Expense Advertising Expense $4,653 3,300 38,400 59,953 9,000 3,000...
MeyPLUS Graded Assignment Question 4 of 13 < -/1 View Policies Current Attempt in Progress The...
MeyPLUS Graded Assignment Question 4 of 13 < -/1 View Policies Current Attempt in Progress The income statement for Arbor Vita Golf Club for the year ending July 31 shows Service Revenue $15.700, Salaries and Wages Expense $8,000, Rent Expense $2,200 and Net Income $5,500 Prepare the entries to close the revenue and expense accounts. (Credit account titles are automatically indented when amount is entered. Do not indent manually) Debit Credit Date Account Titles and Explanation July 31 (To dose...
View Policies Current Attempt in Progress Presented below is the adjusted trial balance of Concord Corporation...
View Policies Current Attempt in Progress Presented below is the adjusted trial balance of Concord Corporation at December 31, 2020, Debit Credit $ ? 1,490 1,290 48,290 $ 4,290 1.240 Do Cash Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Trademarks Accounts Payable Salaries and Wages Payable Unearned Service Revenue Bonds Payable (due 2027) Common Stock Retained Earnings Service Revenue Salaries and Wages Expense Insurance Expense Rent Expense Interest Expense 10,290 790 2,290 9.290 10.290 25.290 10,290 9.290 1,690 1,490 1.190 $...
Helped needed please. (with explanation of each entry) Question 3 of 5 < > -/1 The...
Helped needed please. (with explanation of
each entry)
Question 3 of 5 < > -/1 The ledger of Blossom Rental Agency on March 31 of the current year includes the selected accounts, shown below, before adjusting entries have been prepared. Credit Debit $ 1,800 2,600 18,750 Prepaid Insurance Supplies Equipment Accumulated Depreciation Equipment Notes Payable Unearned Rent Revenue Rent Revenue Interest Expense Salaries and Wages Expense $ 8,000 20,000 9,000 58,000 0 10,000 An analysis of the accounts shows the...
Question 5 of 6 < - /5 E View Policies Current Attempt in Progress Selected transactions...
Question 5 of 6 < - /5 E View Policies Current Attempt in Progress Selected transactions from the journal of Kingbird, Inc. during its first month of operations are presented here. Account Titles Debit Credit Date Aug 1 Cash 7,800 7,800 10 1,750 1.750 12 6,600 Common Stock Cash Service Revenue Equipment Cash Notes Payable Accounts Receivable Service Revenue Cash Accounts Receivable 1,700 4,900 25 2,810 2,810 31 730 730 (a) Post the transactions to T-accounts. (Post entries in the...
Question 3 of 5 > -12 E View Policies Current Attempt in Progress Selected year-end account...
Question 3 of 5 > -12 E 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 $90,020 32,610 16,370 263,870 112,960 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 $65,720 142,350 28,400 227,910 7,690 4,460 76,630 1,740 Question 3 of 5 -/2...
Question 6 of 6 < -/3 E View Policies Current Attempt in Progress Here is the...
Question 6 of 6 < -/3 E View Policies Current Attempt in Progress Here is the ledger for Blossom Company Cash Oct. 1 8,660 Oct.4 2.060 Oct. 10 2,640 Oct. 12 3,160 Oct. 10 9,660 Oct. 15 360 Oct, 20 810 Oct 30 410 Oct. 25 3,660 Oct. 31 610 Accounts Receivable Oct. 6 910 Oct, 20 810 Oct. 20 1,030 Supplies Oct. 4 2,060 Oct. 31 1,840 Equipment Oct 3 4,660 Notes Payable Oct. 10 9.660 Accounts Payable Oct....
Question 4 of 6 < > 0.5/1 View Policies Show Attempt History Current Attempt in Progress...
Question 4 of 6 < > 0.5/1 View Policies Show Attempt History Current Attempt in Progress Presented below is the ledger for Oriole Co. 10/1 10/10 10/10 10/20 10/25 10/6 10/20 10/4 10/3 Cash No. 101 2.000 10/4 200 600 10/12 1 200 4.500 10/15 200 500 10/30 300 2.100 10/31 500 Accounts Receivable No. 112 600 10/20 500 700 Supplies No. 126 200 Equipment No. 157 2.700 Notes Payable No. 200 10/10 4.500 Accounts Payable No. 201 1.200 10/3...
Question 6 of 7 < - / 1.5 E View Policies Current Attempt in Progress From...
Question 6 of 7 < - / 1.5 E View Policies Current Attempt in Progress From the ledger balances below, prepare a trial balance for Blossom Company at June 30, 2022. All account balances are normal. Accounts Payable Cash Common Stock Dividends Equipment $ 2,700 5,830 16,730 1,940 13,160 Service Revenue Accounts Receivable Salaries and Wages Expense Rent Expense $8,760 2,600 3.260 1,400 BLOSSOM COMPANY Trial Balance Debit Credit
Accounting Question 4 View Policies Current Attempt in Progress Updates sions The ledger of Larkspur, Inc....
Accounting Question 4 View Policies Current Attempt in Progress Updates sions The ledger of Larkspur, Inc. on July 31, 2022, Includes the selected accounts below before adjusting entries have been prepared ences Debit Credit brations PLUS Sup Investment in Note Receivable Supplies Prepaid Rent Buildings $18.000 23,500 2.800 200,000 Accumulated Depreciation-Buildings Uneared Service Revenue $125,000 11.900 An analysis of the company's accounts shows the following 1 The investment in the notes receivable earns interest at a rate of 6% per...
Question 5 of 5 < > - /20 Current Attempt in Progress The Crane Hotel opened for business on May 1, 2022. Here is its trial balance before adjustment on May 31. CRANE HOTEL Trial Balance May 31, 2022 Credit Debit $ 2,453 2,600 1,800 14,953 72,400 16,800 Cash Supplies Prepaid Insurance Land Buildings Equipment Accounts Payable Unearned Rent Revenue Mortgage Payable Common Stock Rent Revenue Salaries and Wages Expense Utilities Expense Advertising Expense $4,653 3,300 38,400 59,953 9,000 3,000...
MeyPLUS Graded Assignment Question 4 of 13 < -/1 View Policies Current Attempt in Progress The income statement for Arbor Vita Golf Club for the year ending July 31 shows Service Revenue $15.700, Salaries and Wages Expense $8,000, Rent Expense $2,200 and Net Income $5,500 Prepare the entries to close the revenue and expense accounts. (Credit account titles are automatically indented when amount is entered. Do not indent manually) Debit Credit Date Account Titles and Explanation July 31 (To dose...
View Policies Current Attempt in Progress Presented below is the adjusted trial balance of Concord Corporation at December 31, 2020, Debit Credit $ ? 1,490 1,290 48,290 $ 4,290 1.240 Do Cash Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Trademarks Accounts Payable Salaries and Wages Payable Unearned Service Revenue Bonds Payable (due 2027) Common Stock Retained Earnings Service Revenue Salaries and Wages Expense Insurance Expense Rent Expense Interest Expense 10,290 790 2,290 9.290 10.290 25.290 10,290 9.290 1,690 1,490 1.190 $...
Helped needed please. (with explanation of
each entry)
Question 3 of 5 < > -/1 The ledger of Blossom Rental Agency on March 31 of the current year includes the selected accounts, shown below, before adjusting entries have been prepared. Credit Debit $ 1,800 2,600 18,750 Prepaid Insurance Supplies Equipment Accumulated Depreciation Equipment Notes Payable Unearned Rent Revenue Rent Revenue Interest Expense Salaries and Wages Expense $ 8,000 20,000 9,000 58,000 0 10,000 An analysis of the accounts shows the...
Question 5 of 6 < - /5 E View Policies Current Attempt in Progress Selected transactions from the journal of Kingbird, Inc. during its first month of operations are presented here. Account Titles Debit Credit Date Aug 1 Cash 7,800 7,800 10 1,750 1.750 12 6,600 Common Stock Cash Service Revenue Equipment Cash Notes Payable Accounts Receivable Service Revenue Cash Accounts Receivable 1,700 4,900 25 2,810 2,810 31 730 730 (a) Post the transactions to T-accounts. (Post entries in the...
Question 3 of 5 > -12 E 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 $90,020 32,610 16,370 263,870 112,960 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 $65,720 142,350 28,400 227,910 7,690 4,460 76,630 1,740 Question 3 of 5 -/2...
Question 6 of 6 < -/3 E View Policies Current Attempt in Progress Here is the ledger for Blossom Company Cash Oct. 1 8,660 Oct.4 2.060 Oct. 10 2,640 Oct. 12 3,160 Oct. 10 9,660 Oct. 15 360 Oct, 20 810 Oct 30 410 Oct. 25 3,660 Oct. 31 610 Accounts Receivable Oct. 6 910 Oct, 20 810 Oct. 20 1,030 Supplies Oct. 4 2,060 Oct. 31 1,840 Equipment Oct 3 4,660 Notes Payable Oct. 10 9.660 Accounts Payable Oct....
Question 4 of 6 < > 0.5/1 View Policies Show Attempt History Current Attempt in Progress Presented below is the ledger for Oriole Co. 10/1 10/10 10/10 10/20 10/25 10/6 10/20 10/4 10/3 Cash No. 101 2.000 10/4 200 600 10/12 1 200 4.500 10/15 200 500 10/30 300 2.100 10/31 500 Accounts Receivable No. 112 600 10/20 500 700 Supplies No. 126 200 Equipment No. 157 2.700 Notes Payable No. 200 10/10 4.500 Accounts Payable No. 201 1.200 10/3...
Question 6 of 7 < - / 1.5 E View Policies Current Attempt in Progress From the ledger balances below, prepare a trial balance for Blossom Company at June 30, 2022. All account balances are normal. Accounts Payable Cash Common Stock Dividends Equipment $ 2,700 5,830 16,730 1,940 13,160 Service Revenue Accounts Receivable Salaries and Wages Expense Rent Expense $8,760 2,600 3.260 1,400 BLOSSOM COMPANY Trial Balance Debit Credit
Accounting Question 4 View Policies Current Attempt in Progress Updates sions The ledger of Larkspur, Inc. on July 31, 2022, Includes the selected accounts below before adjusting entries have been prepared ences Debit Credit brations PLUS Sup Investment in Note Receivable Supplies Prepaid Rent Buildings $18.000 23,500 2.800 200,000 Accumulated Depreciation-Buildings Uneared Service Revenue $125,000 11.900 An analysis of the company's accounts shows the following 1 The investment in the notes receivable earns interest at a rate of 6% per...
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