Homework Answers
Net income = Total revenue - Total expense
= 8,744 - 4,700
= 4,044
| Income Statement | ||
| Revenue | ||
| Service Revenue | 8,744 | |
| Expenses | ||
| Interest expense | 700 | |
| Salaries expense | 3,000 | |
| Rent expense | 1,000 | 4,700 |
| Net income | 4,044 |
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Income Statement - one (1) question Instructions: Please prepare an Income Statement on your scratch paper...
Instructions: Please prepare an Income Statement on your scratch paper based on the following Unadjusted Trial...
Instructions: Please prepare an Income Statement on your scratch paper based on the following Unadjusted Trial Balance. Question: Based on the Income Statement you prepared on your scratch paper, what is the Net Income on the Income Statement for the period ending 12/31/xx? Unadjusted Trial Balance As of 12/31/20xx Accounts Debit Credit Cash $5,400 Prepaid Rent 5,000 Supplies 4,900 Building 8,978 Accounts Payable $1,900 Deferred Revenue 1,400 Common Stock 2,100 Retained Earnings 14,600 Revenue 8.978 Interest Expense 700 Salaries Expense...
Question 37 4.75 pts Question: Based on the Statement of Stockholders' Equity you prepared on your...
Question 37 4.75 pts Question: Based on the Statement of Stockholders' Equity you prepared on your scratch paper from the previous problem, what is the ending balance as of 12/31 for the Common Stock Account column? Fill in the blank with your calculated number. DO NOT include commas, $ signs, period, decimal points, etc., just enter the raw number. Webcourses will add commas to your answer automatically. For example, if you calculated the answer to be $24,123, you would only...
Question 36 4.75 pts Statement of Stockholders' Equity - two (2) questions - This problem does...
Question 36 4.75 pts Statement of Stockholders' Equity - two (2) questions - This problem does NOT build on the preceding problem, the numbers in the Unadjusted Trial Balance are different Instructions:Please prepare a statement of Stockholders' Equity on your scratch paper based on the following Unadjusted Trial Balance and Additional Information below to answer this question and the next question. You will need to know the ending balance for the retained earnings account and the common stock account Unadjusted...
Required: 1. Prepare and complete a worksheet. 2. Prepare an income statement for 2021 and a...
Required:
1. Prepare and complete a worksheet.
2. Prepare an income statement for 2021 and a
balance sheet as of December 31, 2021.
Required information [The following information applies to the questions displayed below.) The December 31, 2021, unadjusted trial balance for the Wolkstein Drug Company is presented below. December 31 is the company's year-end reporting date. Credits Debits 50,810 29,750 4,600 46,250 102,000 30,600 33,000 Account Title Cash Accounts receivable Prepaid rent Inventory Equipment Accumulated depreciation Accounts payable Salaries...
Instructions: Below is the adjusted trial balance for Central Advertising Inc. (1) Prepare an Income Statement,...
Instructions: Below is the adjusted trial balance for Central Advertising Inc. (1) Prepare an Income Statement, Statement of Retained Earnings, and a Balance Sheet. (2) Then prepare closing entries, post them to t-accounts, and prepare a post-closing trial balance. Central Advertising Inc. Adjusted Trial Balance August 31, 20xx Income Statement $19075 4750 1250 700 8000 $ 200 600 2000 Cash Accounts Receivable Prepaid Insurance Advertising Supplies Equipment Accumulated Depe Accounts Payable Unearned Revenue Interest Payable Notes Payable Common Stock Retained...
Instructions: Below is the adjusted trial balance for Bear Advertising Inc. (1) Prepare an Income Statement....
Instructions: Below is the adjusted trial balance for Bear Advertising Inc. (1) Prepare an Income Statement. Sement of Retained Earnings anda Balance Sheet (2) Then pecare closing trics, pou them to accounts, and prepare a posl-closing trial balance The heverining in Income Statement 1000 Advance De 000 40 4000 15000 0 21500 Cowok Paired Earns Advertising Decatione We spend www.pw Supo LE 300 Statement of Retained Eamings 845196 545165 General Joumai PR Debt Balance Sheet Date Account Credit Cash Accounts...
re the income statement, the statement of owner's equity, and the classified 6. Prepare the income...
re the income statement, the statement of owner's equity, and the classified 6. Prepare the income stateme balance sheet in report form. 1. Prepare the closing entries, and post to the T-accounts 8. Prepare a post-closing trial balance. 44-34A Preparing adiusting entries and reversing entries Learning Objective 7 Appendix 4A ne uradjusted trial balance and adjustment data of Martha's Motors at December 31, 2018, follow MARTHA'S MOTORS Unadjusted Trial Balance December 31, 2018 Credit Debit $ 4200 27,200 1.000 2.400...
BIG CONSTRUCTION COMPANY Unadjusted Trial Balance December 31, 2020 ADIUSTED T.B. INCOME STATEMENT ADJUSTMENTS CREDIT UNADJUSTED...
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my home work is to do 3.2A and 3.3A May 31 Instructions a. Prepare the adjusting...
my home work is to do 3.2A and 3.3A
May 31 Instructions a. Prepare the adjusting entries for the month of May. Use J4 as the page number for your journal b. Post the adjusting entries to the ledger accounts. Enter the totals from the trial balance as beginning account balances and place a check mark in the posting reference column. c. Prepare an adjusted trial balance at May 31, 2020. P3.2A (LO 2, 3, 4) Financial Statement Hank's Hotel...
please provide income statement, balance sheet, journal entries. Thank you Question 9 Not yet answered Marked...
please provide income statement, balance sheet, journal
entries. Thank you
Question 9 Not yet answered Marked out of 2.00 P Rag question Financial Statements and Closing Entries Outdoors, Inc.publishes magazines for skiers and hikers. The firm has the following adjusted trial balance at Decen OUTDOORS, INC. Adjusted Trial Balance December 31 Debit Credit Cash 57,560 Accounts Receivable 26.040 Supplies 5.880 Prepaid insurance 1,302 Office Equipment 92.400 Accum. Depr. - Equipment S13200 Accounts Payable 169.00 Unearned Subscription Revenue 14,000 Salaries Payable...
Instructions: Please prepare an Income Statement on your scratch paper based on the following Unadjusted Trial Balance. Question: Based on the Income Statement you prepared on your scratch paper, what is the Net Income on the Income Statement for the period ending 12/31/xx? Unadjusted Trial Balance As of 12/31/20xx Accounts Debit Credit Cash $5,400 Prepaid Rent 5,000 Supplies 4,900 Building 8,978 Accounts Payable $1,900 Deferred Revenue 1,400 Common Stock 2,100 Retained Earnings 14,600 Revenue 8.978 Interest Expense 700 Salaries Expense...
Question 37 4.75 pts Question: Based on the Statement of Stockholders' Equity you prepared on your scratch paper from the previous problem, what is the ending balance as of 12/31 for the Common Stock Account column? Fill in the blank with your calculated number. DO NOT include commas, $ signs, period, decimal points, etc., just enter the raw number. Webcourses will add commas to your answer automatically. For example, if you calculated the answer to be $24,123, you would only...
Question 36 4.75 pts Statement of Stockholders' Equity - two (2) questions - This problem does NOT build on the preceding problem, the numbers in the Unadjusted Trial Balance are different Instructions:Please prepare a statement of Stockholders' Equity on your scratch paper based on the following Unadjusted Trial Balance and Additional Information below to answer this question and the next question. You will need to know the ending balance for the retained earnings account and the common stock account Unadjusted...
Required:
1. Prepare and complete a worksheet.
2. Prepare an income statement for 2021 and a
balance sheet as of December 31, 2021.
Required information [The following information applies to the questions displayed below.) The December 31, 2021, unadjusted trial balance for the Wolkstein Drug Company is presented below. December 31 is the company's year-end reporting date. Credits Debits 50,810 29,750 4,600 46,250 102,000 30,600 33,000 Account Title Cash Accounts receivable Prepaid rent Inventory Equipment Accumulated depreciation Accounts payable Salaries...
Instructions: Below is the adjusted trial balance for Central Advertising Inc. (1) Prepare an Income Statement, Statement of Retained Earnings, and a Balance Sheet. (2) Then prepare closing entries, post them to t-accounts, and prepare a post-closing trial balance. Central Advertising Inc. Adjusted Trial Balance August 31, 20xx Income Statement $19075 4750 1250 700 8000 $ 200 600 2000 Cash Accounts Receivable Prepaid Insurance Advertising Supplies Equipment Accumulated Depe Accounts Payable Unearned Revenue Interest Payable Notes Payable Common Stock Retained...
Instructions: Below is the adjusted trial balance for Bear Advertising Inc. (1) Prepare an Income Statement. Sement of Retained Earnings anda Balance Sheet (2) Then pecare closing trics, pou them to accounts, and prepare a posl-closing trial balance The heverining in Income Statement 1000 Advance De 000 40 4000 15000 0 21500 Cowok Paired Earns Advertising Decatione We spend www.pw Supo LE 300 Statement of Retained Eamings 845196 545165 General Joumai PR Debt Balance Sheet Date Account Credit Cash Accounts...
re the income statement, the statement of owner's equity, and the classified 6. Prepare the income stateme balance sheet in report form. 1. Prepare the closing entries, and post to the T-accounts 8. Prepare a post-closing trial balance. 44-34A Preparing adiusting entries and reversing entries Learning Objective 7 Appendix 4A ne uradjusted trial balance and adjustment data of Martha's Motors at December 31, 2018, follow MARTHA'S MOTORS Unadjusted Trial Balance December 31, 2018 Credit Debit $ 4200 27,200 1.000 2.400...
BIG CONSTRUCTION COMPANY Unadjusted Trial Balance December 31, 2020 ADIUSTED T.B. INCOME STATEMENT ADJUSTMENTS CREDIT UNADJUSTED T.B CREDIT CREDIT DEBIT DEBIT DEBIT DEBIT CREDIT ACCOUNT TITLE Cash Notes Receivable Accounts Receivable 220,000 24,000 23,000 Inventory 12/31/2020 Prepaid Insurance 47,000 4,300 Prepaid Rent 8,400 Supplies Land 2,900 28.000 Equipment Accum Deprec-Equipment Accounts Payable 90,000 18,000 28.000 12,500 75.000 Unearned Rent Revenue Mortgage Payable (Due 2022) Owner's Capital Owner's Drawings 124,000 4,700 279,000 Sales Revenue 2,100 Sales Returns and Allowances 1,900 Sales...
my home work is to do 3.2A and 3.3A
May 31 Instructions a. Prepare the adjusting entries for the month of May. Use J4 as the page number for your journal b. Post the adjusting entries to the ledger accounts. Enter the totals from the trial balance as beginning account balances and place a check mark in the posting reference column. c. Prepare an adjusted trial balance at May 31, 2020. P3.2A (LO 2, 3, 4) Financial Statement Hank's Hotel...
please provide income statement, balance sheet, journal
entries. Thank you
Question 9 Not yet answered Marked out of 2.00 P Rag question Financial Statements and Closing Entries Outdoors, Inc.publishes magazines for skiers and hikers. The firm has the following adjusted trial balance at Decen OUTDOORS, INC. Adjusted Trial Balance December 31 Debit Credit Cash 57,560 Accounts Receivable 26.040 Supplies 5.880 Prepaid insurance 1,302 Office Equipment 92.400 Accum. Depr. - Equipment S13200 Accounts Payable 169.00 Unearned Subscription Revenue 14,000 Salaries Payable...
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