Homework Answers
| Cash | 6000 |
| Office Supplies | 900 |
| Prepaid Insurance | 450 |
| Accounts Receivable | 2200 |
| Amount of total Current Assets | 9550 |
| Option C $9,550 is correct | |
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Debit Credit Building Cash Office Supplies Fumiture Prepaid Insurance Accumulated Depreciation Furniture Land Accumulated Depreciation Building...
Cash Supplies Prepaid Insurance Land Building Accumulated Depreciation-Building Equipment Accumulated Depreciation Equipment Accounts Payable Unearned Rent...
Cash Supplies Prepaid Insurance Land Building Accumulated Depreciation-Building Equipment Accumulated Depreciation Equipment Accounts Payable Unearned Rent Revenue Salaries and Wages Payable Interest Payable Mortgage Payable Common Stock Rent Revenue 6. Salaries of $710 are accrued and unpaid at May 31. Journalize the adjusting entries on May 31. (If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Credit account titles are automatically indented when the amount is entered. DC not indent manually.)...
Calculate the current ratio using the following information: (Round your answer to two decimal places.) Cash...
Calculate the current ratio using the following information: (Round your answer to two decimal places.) Cash Accounts Receivable Prepaid Rent Land Equipment Accumulated Depreciation Accounts Payable Salaries Pavable OA. 1 42 O B. 2.13 c. 2.33 OD 303 $7,000 1.300 800 20.000 6.000 1,000 3,000 900 Cash Accounts Receivable Prepaid Rent Land Equipment Accumulated Depreciation Accounts Payable Salaries Payable Notes Payable-long term $7,000 1,300 800 20,000 6,000 1,000 3,000 900 10,000 O A. 1.42 OB. 2.13 O c. 233 OD....
The following is the adjusted trial balance for Baker Services. Accounts Debit Credit Cash $50,700 Accounts...
The following is the adjusted trial balance for Baker Services. Accounts Debit Credit Cash $50,700 Accounts Receivable 30,000 Prepaid Insurance 6,500 Office Supplies 3,000 Land 50,000 Building 140,000 Accumulated Depreciation—Building $16,500 Equipment 76,000 Accumulated Depreciation—Equipment 7,000 Accounts Payable 27,000 Salaries Payable 3,000 Unearned Revenue 24,000 Mortgage Payable 102,000 Baker, Capital 25,500 Baker, Withdrawals 25,000 Service Revenue 290,000 Salaries Expense 63,000 Depreciation Expense—Building and Equipment 6,000 Supplies Expense 11,000 Insurance Expense 14,800 Utilities Expense 19,000 Total $495,000 $495,000 There were no...
Buildings Accounts receivable Prepaid insurance Cash Equipment Land Office expense Income tax expense Depreciation expense Interest...
Buildings Accounts receivable Prepaid insurance Cash Equipment Land Office expense Income tax expense Depreciation expense Interest expense Common shares Retained earnings (January 1, 2018) Accumulated depreciation-building Accounts payable Income taxes payable Bank loan payable (due July 1, 2020) Accumulated depreciation-equipment $148,120 17,640 6,552 16,576 115,360 85,680 812 ns 3,640 86,800 63,840 11,760 131,040 26,208 5,040 19,852 Interest payable Sales Calculate the net income for the year Net income/ (loss) $
Debit Balances Credit Balances Cash Accounts Receivable Prepaid Insurance Supplies 4,700 42,650 7,950 2,170 125,420 306,260...
Debit Balances Credit Balances Cash Accounts Receivable Prepaid Insurance Supplies 4,700 42,650 7,950 2,170 125,420 306,260 Land 153,250 Building Accumulated Depreciation--Building Equipment Accumulated Depreciation-Equipment Accounts Payable 150,720 109,150 13,370 7,590 325,800 Unearned Rent 16,630 361,430 Suzanne Emerson, Capital Suzanne Emerson, Drawing Fees Earned Salaries and Wages Expense Utilities Expense Advertising Expense Repairs Expense Miscellaneous Expense 215,410 47,350 25,300 19,160 6,870 970,590 970,590 The data needed to determine year-end adjustments are as follows: • Unexpired insurance at October 31, $5,330. •...
14HINWIR (Part 1) Credit Cash Supplies Prepaid Insurance Debit $ 2,573 2.600 1,800 15,073 67,600 16,800...
14HINWIR (Part 1) Credit Cash Supplies Prepaid Insurance Debit $ 2,573 2.600 1,800 15,073 67,600 16,800 Land Buildings Equipment Accounts Payable $4.773 Unearned Rent Revenue Mortgage Payable 3,300 33,600 60,073 9,000 Common Stock Rent Revenue Salaries and Wages Expense Utilities Expense 3,000 800 Advertising Expense 500 $110.746 $110,746 Other data: 1. Insurance expires at the rate of $450 per month 2. A count of supplies shows $1,050 of unused supplies on May 31. 3. (a) Annual depreciation is $3,840 on...
Blum Services has the following unadjusted balances at year-end. Cash $12,900 Prepaid insurance 2,000 Office supplies...
Blum Services has the following unadjusted balances at year-end. Cash $12,900 Prepaid insurance 2,000 Office supplies 1,300 Office equipment 10,500 Accumulated depreciation–office equipment 3,500 Accounts payable 2,900 Salaries payable -0- Unearned service revenue 4,500 A.L.Blum, capital 11,750 A.L.Blum, drawing 5,600 Service revenue 13,350 Salary expense 3,700 Depreciation expense -0- Supplies expense -0- Insurance expense -0- The following information is available to use in making adjusting entries. a. Office supplies on hand at year-end: $250 b. Prepaid insurance expired during the...
On March 31, 2021, Susquehanna Insurance purchased an office building for $11.400,000. Based on their relative...
On March 31, 2021, Susquehanna Insurance purchased an office building for $11.400,000. Based on their relative fair values, one-third of the purchase price was allocated to the land and two-thirds to the building Furniture and fixtures were purchased separately from office equipment on the same date for $1,340,000 and $840,000, respectively. The company uses the straight-line method to depreciate its buildings and the double-declining-balance method to depreciate all other depreciable assets. The estimated useful lives and residual values of these...
How to do the adjusting entries. Accounts Cash Accounts Receivable Prepaid Insurance Supplies Land Building Accumulated...
How to do the adjusting entries.
Accounts Cash Accounts Receivable Prepaid Insurance Supplies Land Building Accumulated Depreciation Accounts Payable Deferred Revenue Common Stock Retained Earnings Dividends Service Revenue Debits Credits S 53,200 15,400 7,000 4,000 48,000 136,000 $ 8,000 6,700 13,800 150,000 72,500 2.800 38,960 12,360 Salaries Expense Depreciation Expense Insurance Expense 2,700 5,000 Property Tax Expense Totals 294,960 $294.960 The following is a summary of the transactions for the year: a. December 12 c. December 18 d. December 28...
Credit Cash Accounts Receivable Debit $ 6,850 7,000 1,982 3,180 15,000 Supplies Prepaid Insurance Equipment Accounts...
Credit Cash Accounts Receivable Debit $ 6,850 7,000 1,982 3,180 15,000 Supplies Prepaid Insurance Equipment Accounts Payable Unearned Service Revenue Common Stock Service Revenue Salaries and Wages Expense Rent Expense $ 4,245 5,200 21,982 8,300 4,000 1,715 $39,727 $39,727 In addition to those accounts listed on the trial balance, the chart of accounts for Richard also contains the following accounts: Accumulated Depreciation-Equipment, Salaries and Wages Payable, Depreciation Expense, Insurance Expense, Utilities Expense, and Supplies Expense. Other data: 1. 2. 3....
Cash Supplies Prepaid Insurance Land Building Accumulated Depreciation-Building Equipment Accumulated Depreciation Equipment Accounts Payable Unearned Rent Revenue Salaries and Wages Payable Interest Payable Mortgage Payable Common Stock Rent Revenue 6. Salaries of $710 are accrued and unpaid at May 31. Journalize the adjusting entries on May 31. (If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Credit account titles are automatically indented when the amount is entered. DC not indent manually.)...
Calculate the current ratio using the following information: (Round your answer to two decimal places.) Cash Accounts Receivable Prepaid Rent Land Equipment Accumulated Depreciation Accounts Payable Salaries Pavable OA. 1 42 O B. 2.13 c. 2.33 OD 303 $7,000 1.300 800 20.000 6.000 1,000 3,000 900 Cash Accounts Receivable Prepaid Rent Land Equipment Accumulated Depreciation Accounts Payable Salaries Payable Notes Payable-long term $7,000 1,300 800 20,000 6,000 1,000 3,000 900 10,000 O A. 1.42 OB. 2.13 O c. 233 OD....
Buildings Accounts receivable Prepaid insurance Cash Equipment Land Office expense Income tax expense Depreciation expense Interest expense Common shares Retained earnings (January 1, 2018) Accumulated depreciation-building Accounts payable Income taxes payable Bank loan payable (due July 1, 2020) Accumulated depreciation-equipment $148,120 17,640 6,552 16,576 115,360 85,680 812 ns 3,640 86,800 63,840 11,760 131,040 26,208 5,040 19,852 Interest payable Sales Calculate the net income for the year Net income/ (loss) $
Debit Balances Credit Balances Cash Accounts Receivable Prepaid Insurance Supplies 4,700 42,650 7,950 2,170 125,420 306,260 Land 153,250 Building Accumulated Depreciation--Building Equipment Accumulated Depreciation-Equipment Accounts Payable 150,720 109,150 13,370 7,590 325,800 Unearned Rent 16,630 361,430 Suzanne Emerson, Capital Suzanne Emerson, Drawing Fees Earned Salaries and Wages Expense Utilities Expense Advertising Expense Repairs Expense Miscellaneous Expense 215,410 47,350 25,300 19,160 6,870 970,590 970,590 The data needed to determine year-end adjustments are as follows: • Unexpired insurance at October 31, $5,330. •...
14HINWIR (Part 1) Credit Cash Supplies Prepaid Insurance Debit $ 2,573 2.600 1,800 15,073 67,600 16,800 Land Buildings Equipment Accounts Payable $4.773 Unearned Rent Revenue Mortgage Payable 3,300 33,600 60,073 9,000 Common Stock Rent Revenue Salaries and Wages Expense Utilities Expense 3,000 800 Advertising Expense 500 $110.746 $110,746 Other data: 1. Insurance expires at the rate of $450 per month 2. A count of supplies shows $1,050 of unused supplies on May 31. 3. (a) Annual depreciation is $3,840 on...
On March 31, 2021, Susquehanna Insurance purchased an office building for $11.400,000. Based on their relative fair values, one-third of the purchase price was allocated to the land and two-thirds to the building Furniture and fixtures were purchased separately from office equipment on the same date for $1,340,000 and $840,000, respectively. The company uses the straight-line method to depreciate its buildings and the double-declining-balance method to depreciate all other depreciable assets. The estimated useful lives and residual values of these...
How to do the adjusting entries.
Accounts Cash Accounts Receivable Prepaid Insurance Supplies Land Building Accumulated Depreciation Accounts Payable Deferred Revenue Common Stock Retained Earnings Dividends Service Revenue Debits Credits S 53,200 15,400 7,000 4,000 48,000 136,000 $ 8,000 6,700 13,800 150,000 72,500 2.800 38,960 12,360 Salaries Expense Depreciation Expense Insurance Expense 2,700 5,000 Property Tax Expense Totals 294,960 $294.960 The following is a summary of the transactions for the year: a. December 12 c. December 18 d. December 28...
Credit Cash Accounts Receivable Debit $ 6,850 7,000 1,982 3,180 15,000 Supplies Prepaid Insurance Equipment Accounts Payable Unearned Service Revenue Common Stock Service Revenue Salaries and Wages Expense Rent Expense $ 4,245 5,200 21,982 8,300 4,000 1,715 $39,727 $39,727 In addition to those accounts listed on the trial balance, the chart of accounts for Richard also contains the following accounts: Accumulated Depreciation-Equipment, Salaries and Wages Payable, Depreciation Expense, Insurance Expense, Utilities Expense, and Supplies Expense. Other data: 1. 2. 3....
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