Smiles Entertainment had the following accounts and balances at December 31: Account Debit Credit Cash $...
Smiles Entertainment had the following accounts and balances at
December 31:
| Account | Debit | Credit | |||
| Cash | $ | 10,400 | |||
| Accounts Receivable | 2,080 | ||||
| Prepaid Insurance | 2,560 | ||||
| Supplies | 1,080 | ||||
| Accounts Payable | $ | 5,200 | |||
| Common Stock | 4,200 | ||||
| Retained Earnings | 940 | ||||
| Service Revenue | 7,400 | ||||
| Salaries Expense | 540 | ||||
| Utilities Expense | 1,080 | ||||
| Totals | $ | 17,740 | $ | 17,740 | |
Using the information in the table, calculate the company's reported net income for the period.
Multiple Choice
-
$1,180.
-
$10,880.
-
$5,780.
-
$4,120.
-
$4,660.
Homework Answers
| Income statement | |||||
| Service Revenue | 7,400 | ||||
| Less | Expenses | ||||
| Salaries Expense | 540 | ||||
| Utilities Expense | 1080 | ||||
| total expenses | 1620 | ||||
| Net income | 5,780 | ||||
| therefore correct answer is option $5780 | |||||
Add Answer to:
Smiles Entertainment had the following accounts and balances at
December 31:
Account
Debit
Credit
Cash
$...
Smiles Entertainment had the following accounts and balances at December 31: Credit Debit Account $12,100 2,420...
Smiles Entertainment had the following accounts and balances at December 31: Credit Debit Account $12,100 2,420 3,240 1,420 Cash Accounts Receivable Prepaid Insurance Supplies Accounts Payable $ 6,050 5,050 Common Stock Retained Earnings 1,110 9,100 Service Revenue Salaries Expense 710 Utilities Expense 1,420 $21,310 $21,310 Totals Using the information in the table, calculate the company's reported net income for the period. Multiple Cholce O $1520. O $4,630. O $5.340.
save MC Qu. 158 Smiles Entertainment had the following... Smiles Entertainment had the following accounts and...
save MC Qu. 158 Smiles Entertainment had the following... Smiles Entertainment had the following accounts and balances at December 31: Account Cash Accounts Receivable Prepaid Insurance Supplies Accounts Payable Common Stock Retained Earnings Service Revenue Salaries Expense Utilities Expense Totals Debit Credit $11,800 2,360 3,120 1,360 $ 5,900 4,900 1,080 8,800 680 1,360 $20,680 $20,680 Using the information in the table, calculate the company's reported net income for the period. Multiple Choice O $5,220 Prev 17 of 19 !!! Next...
Bologna Lodging had the following accounts and balances as of December 31: Account Debit Credit Cash...
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woud Solutions had the following accounts and balances as of December 31 Account Debit Cre Cash...
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1. Jackson Services had the following accounts and balances at December 31: Cash Account Debit Credit...
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Centurion Co. had the following accounts and balances at December 31: Account Cash Accounts Receivable Prepaid...
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Eva's Laundry Trial Balance May 31, 2019 Unadjusted Adjusted Debit Credit Balances Credit Balances Debit Balances...
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October 31, 2012 Unadjusted Adjusted Debit Credit Credit Balances Debit Balances Balances Balances Cash 16 16...
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Smiles Entertainment had the following accounts and balances at December 31: Credit Debit Account $12,100 2,420 3,240 1,420 Cash Accounts Receivable Prepaid Insurance Supplies Accounts Payable $ 6,050 5,050 Common Stock Retained Earnings 1,110 9,100 Service Revenue Salaries Expense 710 Utilities Expense 1,420 $21,310 $21,310 Totals Using the information in the table, calculate the company's reported net income for the period. Multiple Cholce O $1520. O $4,630. O $5.340.
save MC Qu. 158 Smiles Entertainment had the following... Smiles Entertainment had the following accounts and balances at December 31: Account Cash Accounts Receivable Prepaid Insurance Supplies Accounts Payable Common Stock Retained Earnings Service Revenue Salaries Expense Utilities Expense Totals Debit Credit $11,800 2,360 3,120 1,360 $ 5,900 4,900 1,080 8,800 680 1,360 $20,680 $20,680 Using the information in the table, calculate the company's reported net income for the period. Multiple Choice O $5,220 Prev 17 of 19 !!! Next...
woud Solutions had the following accounts and balances as of December 31 Account Debit Cre Cash $20,000 Accounts Receivable 2,000 Salaries Expense 500 Accounts Payable $ 4,000 Lodging Revenue 7,000 Utilities Expense See Prepaid Insurance 1,400 Supplies 1,500 Common Stock 14,980 Totals $25,900 $25,900 PERLE Using the information in the table, calculate the total assets reported on the balance sheet for the period 0 SOO 0 0 0 0
1. Jackson Services had the following accounts and balances at December 31: Cash Account Debit Credit $ 20,000 Accounts Receivable 6,000 Prepaid Insurance 1,500 Supplies 5,000 Accounts Payable $ 500 R. Jackson, Capital 16,200 R. Jackson, Withdrawals 1,000 Service Revenue 20,000 Utilities Expense 2,000 Salaries Expense 1,200 Totals $ 36,700 $ 36,700 1. Determine the amount of Net Income and be sure to show all of your work.
Centurion Co. had the following accounts and balances at December 31: Account Cash Accounts Receivable Prepaid Insurance Supplies Accounts Payable T. Happy, Capital Service Revenue Salaries Expense Utilities Expense Totals Debit Credit $11,000 2,200 2,800 1,200 $ 5,500 5,500 8,000 600 1,200 $19,000 $19,000 Using the information in the table, calculate the company's reported net income for the period. Multiple Choice 0 O $1,300 0 $4,300 0 O $4,900 0 O $11.600
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