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Instructions: Please prepare an Income Statement on your scratch paper based on the following Unadjusted Trial...
Income Statement - one (1) question Instructions: Please prepare an Income Statement on your scratch paper...
Income Statement - one (1) question 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 8,744 Accounts Payable $1,900 Deferred Revenue 1,400 Common Stock 2.100 Retained Earnings 14,600 Revenue...
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...
The unadjusted trial balance and income statement amounts from the December 31 adjusted trial balance of...
The unadjusted trial balance and income statement amounts from
the December 31 adjusted trial balance of
Emerson Production Company follow.
.Use the data in the partial worksheet to prepare Emerson
Production Company's
classified balance sheet at December 31 of the current year. Use
the report format. First you must calculate the adjusted balance
for several of the balance-sheet accounts.
Let's prepare the balance sheet for Emerson Production
Company
(If a box is not used in the balance sheet leave the...
BIG CONSTRUCTION COMPANY Unadjusted Trial Balance December 31, 2020 ADIUSTED T.B. INCOME STATEMENT ADJUSTMENTS CREDIT UNADJUSTED...
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...
3. Based on the following trial balance for Barry's Automotive Shop, prepare an income statement, statement...
3. Based on the following trial balance for Barry's Automotive Shop, prepare an income statement, statement of owner's equity, and a balance sheet. Barry made no additional investments in the company during the year. Barry's Automotive Shop Trial Balance December 31 $ 12,500 1,500 500 Cash Accounts receivable Supplies Repair shop equipment Service truck Accounts payable Barry, Capital Barry, Withdrawals Service revenue Supplies expense Rent expense Utilities expense Gas expense Wages expense Totals 27,000 33,000 $2,600 38,525 36,000 125,000 3,425...
The following selected account balances were listed in the unadjusted trial balance as of 12/31/17: Prepaid...
The following selected account balances were listed in the unadjusted trial balance as of 12/31/17: Prepaid Rent = $5,900; Deferred Revenue = $2,100; Retained Earnings = $6,588; Dividends = $300; Sales Revenue = $43,690; COGS = $6,190; Depreciation Expense = $0; Rent Expense = $0; Interest Expense = $0; Supplies Expense = $0; Wages expense = $14,500. Assume all accounts have their ‘normal’ account balance. Suppose after all adjusting entries are made on 12/31/17, The Android’s Dungeon and Baseball Card...
II. Income Statement Information Based on the following trial balance for Sally's Salon, Inc., prepare an...
II. Income Statement Information Based on the following trial balance for Sally's Salon, Inc., prepare an income statemen Sally's Salon, Inc. Trial Balance December 31 $7,500 475 2,500 17,000 $745 1,000 21,155 Cash Accounts receivable Beauty supplies Beauty shop equipment Accounts payable Common stock Retained earnings Dividends Revenue earned Beauty supplies expense Rent expense Wages expense Totals 36,000 72,000 3,425 6,000 22,000 $94,900 $94,900
The December 31, Year 1, unadjusted trial balance for a company is presented below. Credit Debit...
The December 31, Year 1, unadjusted trial balance for a company is presented below. Credit Debit $ 8,400 13,400 5,280 2,400 Accounts Cash Accounts Receivable Prepaid Rent Supplies Deferred Revenue Common Stock Retained Earnings Service Revenue Salaries Expense $ 1,400 11,000 4,400 39,680 27,000 $56,480 $56,480 At year-end, the following additional information is available: 1. The balance of Prepaid Rent, $5,280, represents payment on October 31, Year 1, for rent from November 1, Year 1, to April 30, Year 2....
please answer completely :) act.pearsoncmg.com/activity/0/4/1 PART 4: Prepare the Unadjusted Trial Balance Prepare the Unadjusted Trial...
please answer completely :)
act.pearsoncmg.com/activity/0/4/1 PART 4: Prepare the Unadjusted Trial Balance Prepare the Unadjusted Trial Balance for Smart Touch Learning for December 31st. Check your spelling carefully and do not abbreviate. Enter the account names exactly as provided in the Chart of Accounts. Enter the accounts in the order of Assets, Liabilities, Equity, Revenues, and Expenses. ACCOUNT Smart Touch Learning Accounts Receivable 600 Unadjusted Trial Balance Cash 46,110 December 31, 2016 Common Stock 40.500 Balance Dividends 2.900 Account Title...
Income Statement - one (1) question 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 8,744 Accounts Payable $1,900 Deferred Revenue 1,400 Common Stock 2.100 Retained Earnings 14,600 Revenue...
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...
The unadjusted trial balance and income statement amounts from
the December 31 adjusted trial balance of
Emerson Production Company follow.
.Use the data in the partial worksheet to prepare Emerson
Production Company's
classified balance sheet at December 31 of the current year. Use
the report format. First you must calculate the adjusted balance
for several of the balance-sheet accounts.
Let's prepare the balance sheet for Emerson Production
Company
(If a box is not used in the balance sheet leave the...
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...
3. Based on the following trial balance for Barry's Automotive Shop, prepare an income statement, statement of owner's equity, and a balance sheet. Barry made no additional investments in the company during the year. Barry's Automotive Shop Trial Balance December 31 $ 12,500 1,500 500 Cash Accounts receivable Supplies Repair shop equipment Service truck Accounts payable Barry, Capital Barry, Withdrawals Service revenue Supplies expense Rent expense Utilities expense Gas expense Wages expense Totals 27,000 33,000 $2,600 38,525 36,000 125,000 3,425...
II. Income Statement Information Based on the following trial balance for Sally's Salon, Inc., prepare an income statemen Sally's Salon, Inc. Trial Balance December 31 $7,500 475 2,500 17,000 $745 1,000 21,155 Cash Accounts receivable Beauty supplies Beauty shop equipment Accounts payable Common stock Retained earnings Dividends Revenue earned Beauty supplies expense Rent expense Wages expense Totals 36,000 72,000 3,425 6,000 22,000 $94,900 $94,900
The December 31, Year 1, unadjusted trial balance for a company is presented below. Credit Debit $ 8,400 13,400 5,280 2,400 Accounts Cash Accounts Receivable Prepaid Rent Supplies Deferred Revenue Common Stock Retained Earnings Service Revenue Salaries Expense $ 1,400 11,000 4,400 39,680 27,000 $56,480 $56,480 At year-end, the following additional information is available: 1. The balance of Prepaid Rent, $5,280, represents payment on October 31, Year 1, for rent from November 1, Year 1, to April 30, Year 2....
please answer completely :)
act.pearsoncmg.com/activity/0/4/1 PART 4: Prepare the Unadjusted Trial Balance Prepare the Unadjusted Trial Balance for Smart Touch Learning for December 31st. Check your spelling carefully and do not abbreviate. Enter the account names exactly as provided in the Chart of Accounts. Enter the accounts in the order of Assets, Liabilities, Equity, Revenues, and Expenses. ACCOUNT Smart Touch Learning Accounts Receivable 600 Unadjusted Trial Balance Cash 46,110 December 31, 2016 Common Stock 40.500 Balance Dividends 2.900 Account Title...
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