Homework Answers
Option A
=SUM(C13:C14)-SUM(B15:17) will correctly calculates net
income.
Explantion:
Net Income = Revenues - Expenses
(C13:C14) is having Revenues.
(B15:17) is having Expenses.
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Saved Help Save & Exit Submit Credit 37 1 Trial Balance December 31 3 Debit 4...
B С Trial Balance December 31 Credit Debit $5,700 1,400 11,100 3,800 27,400 А 1 2...
B С Trial Balance December 31 Credit Debit $5,700 1,400 11,100 3,800 27,400 А 1 2 3 4 Cash 5 Accounts receivable 6 Notes receivable 7 Prepaid services 8 Office equipment 9 Accounts payable 10 Unearned ticket revenue 11 Common stock 12 Dividends 13 Ticket revenue 14 Rental revenue 15 Salaries expense 16 Untilities expense 17 Rent expense 18 Totals 19 7,600 4,400 37,000 1,600 7,200 1,700 2,800 2,400 1,700 $57,900 $57,900 Which formula does NOT correctly calculate total equity?...
A B C D 1 Expenses: 2 Wages expense 3 Rent expense 4. Insurance expense 5...
A B C D 1 Expenses: 2 Wages expense 3 Rent expense 4. Insurance expense 5 Utilities expense 6 Total expenses $8,000 2,000 800 300 7 Which formula in cell C6 would continue to be accurate after a row was inserted between rent expense and insurance expense? Multiple Choice =+B2+B3+B4+B5 =+B2+B5 =SUM(B2:B5) =SUM(B2:07) B с Trial Balance December 31 Credit Debit $5,700 1,400 11,100 3,800 27,400 A 1 2 3 4 Cash 5 Accounts receivable 6 Notes receivable 7 Prepaid...
The Sky Blue Corporation has the following adjusted trial balance at December 31. Debit Credit Cash...
The Sky Blue Corporation has the following adjusted trial balance at December 31. Debit Credit Cash $ 1,370 Accounts Receivable 3,400 Prepaid Insurance 3,700 Notes Receivable (long-term) 4,400 Equipment 19,000 Accumulated Depreciation $ 5,400 Accounts Payable 6,820 Salaries and Wages Payable 1,700 Income Taxes Payable 4,300 Deferred Revenue 880 Common Stock 3,800 Retained Earnings 1,560 Dividends 440 Sales Revenue 54,630 Rent Revenue 440 Salaries and Wages Expense 24,400 Depreciation Expense 2,700 Utilities Expense 5,620 Insurance Expense 2,800 Rent Expense 7,400...
Help Save & Exit 18 Submit Check my work Part 1 of 3 The December 31,...
Help Save & Exit 18 Submit Check my work Part 1 of 3 The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented below. Credit Debit $ 10,400 134,000 4,400 22,000 240,000 Accounts Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts Payable Salaries Payable Interest Payable Notes Payable (due in two years) Common Stock Retained Earnings Service Revenue Salaries Expense Rent Expense Depreciation Expense Interest Expense Totals $119.000 10,400 9,400 3,400 24,000 140,000 44,000...
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....
The December 31, 2021, unadjusted trial balance for Demon Deacons Corporation is presented below. Credit Debit...
The December 31, 2021, unadjusted trial balance for Demon Deacons Corporation is presented below. Credit Debit $10,000 15,000 7,200 4,000 Accounts Cash Accounts Receivable Prepaid Rent Supplies Deferred Revenue Common Stock Retained Earnings Service Revenue Salaries Expense $ 3,000 11,000 6,000 51,200 35,000 $71,200 $71,200 At year-end, the following additional information is available: 1. The balance of Prepaid Rent, $7,200, represents payment on October 31, 2021, for rent from November 1, 2021, to April 30, 2022 2. The balance of...
CRANE ENGINEERING Trial Balance December 31, 2021 Debit Credit Cash $8,300 Accounts receivable 6,650 Supplies 5,050...
CRANE ENGINEERING Trial Balance December 31, 2021 Debit Credit Cash $8,300 Accounts receivable 6,650 Supplies 5,050 Prepaid insurance 7,560 Notes receivable 11,500 Equipment 27,400 Accumulated depreciation equipment $8,220 Accounts payable 4,000 H. Duguay, capital 38,240 H. Duguay, drawings 53,500 Service revenue 109,000 Salaries expense 39,500 $159,460 $159,460 Additional information: 1. Services of $10,350 was provided but unrecorded and uncollected as at December 31, 2021. 2. On June 1, the company purchased a one-year insurance policy. 3. Depreciation on the equipment...
Saved 40 Help Save & Exit Submit The following adjusted year-end trial balance at December 31...
Saved 40 Help Save & Exit Submit The following adjusted year-end trial balance at December 31 of Wilson Trucking Company Credit Debit $ 7,000 16,500 2,000 184,000 $ 37,904 75,000 Account Title Cash Accounts receivable office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable Interest payable Long-term notes payable Common stock Retained earnings Dividends Trucking fees earned Depreciation expense-Trucks Salaries expense olce supplies expense Repairs expense-Trucks Totals 11,000 3,000 52,000 40, 746 137,500 19,000 135,500 24,448 63,549 14,500 11, 653 $417,650...
B С Trial Balance December 31 Credit Debit $5,700 1,400 11,100 3,800 27,400 А 1 2 3 4 Cash 5 Accounts receivable 6 Notes receivable 7 Prepaid services 8 Office equipment 9 Accounts payable 10 Unearned ticket revenue 11 Common stock 12 Dividends 13 Ticket revenue 14 Rental revenue 15 Salaries expense 16 Untilities expense 17 Rent expense 18 Totals 19 7,600 4,400 37,000 1,600 7,200 1,700 2,800 2,400 1,700 $57,900 $57,900 Which formula does NOT correctly calculate total equity?...
A B C D 1 Expenses: 2 Wages expense 3 Rent expense 4. Insurance expense 5 Utilities expense 6 Total expenses $8,000 2,000 800 300 7 Which formula in cell C6 would continue to be accurate after a row was inserted between rent expense and insurance expense? Multiple Choice =+B2+B3+B4+B5 =+B2+B5 =SUM(B2:B5) =SUM(B2:07) B с Trial Balance December 31 Credit Debit $5,700 1,400 11,100 3,800 27,400 A 1 2 3 4 Cash 5 Accounts receivable 6 Notes receivable 7 Prepaid...
Help Save & Exit 18 Submit Check my work Part 1 of 3 The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented below. Credit Debit $ 10,400 134,000 4,400 22,000 240,000 Accounts Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts Payable Salaries Payable Interest Payable Notes Payable (due in two years) Common Stock Retained Earnings Service Revenue Salaries Expense Rent Expense Depreciation Expense Interest Expense Totals $119.000 10,400 9,400 3,400 24,000 140,000 44,000...
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....
The December 31, 2021, unadjusted trial balance for Demon Deacons Corporation is presented below. Credit Debit $10,000 15,000 7,200 4,000 Accounts Cash Accounts Receivable Prepaid Rent Supplies Deferred Revenue Common Stock Retained Earnings Service Revenue Salaries Expense $ 3,000 11,000 6,000 51,200 35,000 $71,200 $71,200 At year-end, the following additional information is available: 1. The balance of Prepaid Rent, $7,200, represents payment on October 31, 2021, for rent from November 1, 2021, to April 30, 2022 2. The balance of...
CRANE ENGINEERING Trial Balance December 31, 2021 Debit Credit Cash $8,300 Accounts receivable 6,650 Supplies 5,050 Prepaid insurance 7,560 Notes receivable 11,500 Equipment 27,400 Accumulated depreciation equipment $8,220 Accounts payable 4,000 H. Duguay, capital 38,240 H. Duguay, drawings 53,500 Service revenue 109,000 Salaries expense 39,500 $159,460 $159,460 Additional information: 1. Services of $10,350 was provided but unrecorded and uncollected as at December 31, 2021. 2. On June 1, the company purchased a one-year insurance policy. 3. Depreciation on the equipment...
Saved 40 Help Save & Exit Submit The following adjusted year-end trial balance at December 31 of Wilson Trucking Company Credit Debit $ 7,000 16,500 2,000 184,000 $ 37,904 75,000 Account Title Cash Accounts receivable office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable Interest payable Long-term notes payable Common stock Retained earnings Dividends Trucking fees earned Depreciation expense-Trucks Salaries expense olce supplies expense Repairs expense-Trucks Totals 11,000 3,000 52,000 40, 746 137,500 19,000 135,500 24,448 63,549 14,500 11, 653 $417,650...
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