A company’s financial records at the end of the year included the following amounts: Cash $...
A company’s financial records at the end of the year included
the following amounts:
| Cash | $ | 70,500 | |
| Accounts Receivable | 28,500 | ||
| Supplies | 4,500 | ||
| Accounts Payable | 10,500 | ||
| Notes Payable | 5,250 | ||
| Retained Earnings, beginning of year | 17,500 | ||
| Common Stock | 45,000 | ||
| Service Revenue | 49,750 | ||
| Wages Expense | 8,500 | ||
| Advertising Expense | 5,500 | ||
| Rent Expense | 10,500 | ||
What is the amount of total stockholders' equity that would be
reported on the Balance Sheet at the end of the year?
Multiple Choice
-
$103,500.
-
$25,250.
-
$87,750.
-
$62,500.
Homework Answers
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A company’s financial records at the end of the year included
the following amounts:
Cash
$...
A company's financial records at the end of the year included the following amounts: Cash Accounts...
A company's financial records at the end of the year included the following amounts: Cash Accounts Receivable Supplies Accounts Payable Notes Payable Retained Earnings, beginning of year Common Stock Service Revenue Wages Expense Advertising Expense Rent Expense $70,900 28,900 4,900 10,900 5,450 17,900 49,000 47, 150 8,900 5,900 10,900 What is the amount of total stockholders' equity that would be reported on the Balance Sheet at the end of the year? Multiple Choice O $104,700. $66.900 O $88,350. O O...
a) As of December 31, 2018, Armani Company’s financial records show the following items and amounts....
a) As of December 31, 2018, Armani Company’s financial records show the following items and amounts. Cash $ 11,600 Accounts receivable 10,600 Supplies 7,600 Equipment 6,600 Accounts payable 16,300 Common stock 12,500 Retained earnings, Dec. 31, 2017 5,600 Retained earnings, Dec. 31, 2018 7,600 Dividends 14,600 Consulting revenue 36,200 Rental revenue 25,200 Salaries expense 21,600 Rent expense 13,600 Selling and administrative expenses 9,600 Problem 1-3A Preparing an income statement LO P2 Required: Prepare the 2018 year-end income statement for Armani...
Exercise 3-17A Record closing entries (LO3-6) Seminoles Corporation's fiscal year-end is December 31, 2021. The following...
Exercise 3-17A Record closing entries (LO3-6) Seminoles Corporation's fiscal year-end is December 31, 2021. The following is a partial adjusted trial balance as of December 31. Debit Credit $25,000 $ 2,500 45,000 5,500 Accounts Retained Earnings Dividends Service Revenue Interest Revenue Salaries Expense Rent Expense Advertising Expense Depreciation Expense Interest Expense 14,500 5,500 2,500 10,500 4,500 Required: 1. Prepare the necessary closing entries. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first...
As of December 31, 2017, Armani Company’s financial records show the following items and amounts. As...
As of December 31, 2017, Armani Company’s financial records show
the following items and amounts.
As of December 31, 2017, Armani Company's financial records show the following items and amounts Cash Accounts receivable Supplies Equipment Accounts payable Common stock Retained earnings, Dec. 31, 2016 Retained earnings, Dec. 31, 2017 Dividends Consulting revenue Rental revenue Salaries expense Rent expense Selling and administrative expenses $11,100 10,100 7,100 6,100 9,300 18,000 5,100 7,100 14,100 35,200 24,200 21,100 13,100 9,100 Required: Prepare the 2017...
As of December 31, 2017, Armani Company’s financial records show the following items and amounts. Cash...
As of December 31, 2017, Armani Company’s financial records show
the following items and amounts.
Cash
$
11,200
Accounts receivable
10,200
Supplies
7,200
Equipment
6,200
Accounts payable
9,100
Common stock
18,500
Retained earnings, Dec. 31, 2016
5,200
Retained earnings, Dec. 31, 2017
7,200
Dividends
14,200
Consulting revenue
35,400
Rental revenue
24,400
Salaries expense
21,200
Rent expense
13,200
Selling and administrative expenses
9,200
As of December 31, 2017, Armani Company's financial records show the following items and amounts Cash Accounts receivable...
As of December 31, 2017, Armani Company’s financial records show the following items and amounts. As...
As of December 31, 2017, Armani Company’s financial records show
the following items and amounts.
As of December 31, 2017, Armani Company's financial records show the following items and amounts Cash Accounts receivable Supplies Equipment Accounts payable Common stock Retained earnings, Dec. 31, 2016 Retained earnings, Dec. 31, 2017 Dividends Consulting revenue Rental revenue Salaries expense Rent expense Selling and administrative expenses $11,200 10,200 7,200 6,200 9,100 18,500 5,200 7,200 14,200 35,400 24,400 21,200 13,200 9,200 Required: Prepare a year-end...
as of December 31, 2017, Armani Company’s financial records show the following items and amounts. prepare...
as of December 31, 2017, Armani Company’s financial records
show the following items and amounts. prepare a year end statement
of owners’s equity of Am
As of December 31, 2017, Armani Company's financial records show the following items and amounts. Cash $11,100 10,100 7,100 6,100 9,300 18,000 5,100 7,100 14,100 35,200 24,200 21,100 13,100 9,100 Accounts receivable Supplies Equipment Accounts payable Common stock Retained earnings, Dec.31, 2016 Retained earnings, Dec. 31, 2017 Dividends Consulting revenue Rental revenue Salaries expense Rent...
company's records show the following accounts and amounts for the month of August. Cash Accounts receivable...
company's records show the following accounts and amounts for the month of August. Cash Accounts receivable Office supplies Land Office equipment Accounts payable $ 25, 360 C. Camry, Withdrawals 22,360 Consulting fees earned 5,250 Rent expense 44,000 Salaries expense 20,000 Telephone expense 10,500 Miscellaneous expenses $ 6,000 27,000 9,550 5,600 860 520 Use the above information to prepare an August statement of owner's equity for Help Today. The owner's capital account balance at July 31 was $0, and the owner...
Wolfpack Construction has the following account balances at the end of the year. Accounts Equipment Accounts...
Wolfpack Construction has the following account balances at the end of the year. Accounts Equipment Accounts payable Salaries expense Common stock Land Notes payable Service revenue Cash Retained earnings Balances $16,500 1,100 23,500 11,000 8,500 10,500 29,500 4,100 Use only the appropriate accounts to prepare a balance sheet. WOLFPACK CONSTRUCTION Balance Sheet December 31 Liabilitie / / / / / Total liabilities / Stockholders' Equity / Total assets Total stockholders' equity Total liabilities and stockholders' equity S 0
The following is the adjusted trial balance of Susan Company. Account Title Cash Prepaid insurance Notes...
The following is the adjusted trial balance of Susan Company. Account Title Cash Prepaid insurance Notes receivable (due in 5 years) Buildings Accumulated depreciation-Buildings Accounts payable Notes payable (due in 3 years) Common stock Retained earnings Dividends Consulting revenue Wages expense Depreciation expense-Buildings Insurance expense Totals Debit Credit $15,000 1,000 5,000 45,000 $17,000 5,000 5,500 7,500 10,500 3,500 34,500 4,000 4,500 2,000 $80,000 $80,000 Required 1) Prepare an income statement for the year ended December 31. 2) Prepare a statement...
A company's financial records at the end of the year included the following amounts: Cash Accounts Receivable Supplies Accounts Payable Notes Payable Retained Earnings, beginning of year Common Stock Service Revenue Wages Expense Advertising Expense Rent Expense $70,900 28,900 4,900 10,900 5,450 17,900 49,000 47, 150 8,900 5,900 10,900 What is the amount of total stockholders' equity that would be reported on the Balance Sheet at the end of the year? Multiple Choice O $104,700. $66.900 O $88,350. O O...
Exercise 3-17A Record closing entries (LO3-6) Seminoles Corporation's fiscal year-end is December 31, 2021. The following is a partial adjusted trial balance as of December 31. Debit Credit $25,000 $ 2,500 45,000 5,500 Accounts Retained Earnings Dividends Service Revenue Interest Revenue Salaries Expense Rent Expense Advertising Expense Depreciation Expense Interest Expense 14,500 5,500 2,500 10,500 4,500 Required: 1. Prepare the necessary closing entries. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first...
As of December 31, 2017, Armani Company’s financial records show
the following items and amounts.
As of December 31, 2017, Armani Company's financial records show the following items and amounts Cash Accounts receivable Supplies Equipment Accounts payable Common stock Retained earnings, Dec. 31, 2016 Retained earnings, Dec. 31, 2017 Dividends Consulting revenue Rental revenue Salaries expense Rent expense Selling and administrative expenses $11,100 10,100 7,100 6,100 9,300 18,000 5,100 7,100 14,100 35,200 24,200 21,100 13,100 9,100 Required: Prepare the 2017...
As of December 31, 2017, Armani Company’s financial records show
the following items and amounts.
Cash
$
11,200
Accounts receivable
10,200
Supplies
7,200
Equipment
6,200
Accounts payable
9,100
Common stock
18,500
Retained earnings, Dec. 31, 2016
5,200
Retained earnings, Dec. 31, 2017
7,200
Dividends
14,200
Consulting revenue
35,400
Rental revenue
24,400
Salaries expense
21,200
Rent expense
13,200
Selling and administrative expenses
9,200
As of December 31, 2017, Armani Company's financial records show the following items and amounts Cash Accounts receivable...
As of December 31, 2017, Armani Company’s financial records show
the following items and amounts.
As of December 31, 2017, Armani Company's financial records show the following items and amounts Cash Accounts receivable Supplies Equipment Accounts payable Common stock Retained earnings, Dec. 31, 2016 Retained earnings, Dec. 31, 2017 Dividends Consulting revenue Rental revenue Salaries expense Rent expense Selling and administrative expenses $11,200 10,200 7,200 6,200 9,100 18,500 5,200 7,200 14,200 35,400 24,400 21,200 13,200 9,200 Required: Prepare a year-end...
as of December 31, 2017, Armani Company’s financial records
show the following items and amounts. prepare a year end statement
of owners’s equity of Am
As of December 31, 2017, Armani Company's financial records show the following items and amounts. Cash $11,100 10,100 7,100 6,100 9,300 18,000 5,100 7,100 14,100 35,200 24,200 21,100 13,100 9,100 Accounts receivable Supplies Equipment Accounts payable Common stock Retained earnings, Dec.31, 2016 Retained earnings, Dec. 31, 2017 Dividends Consulting revenue Rental revenue Salaries expense Rent...
company's records show the following accounts and amounts for the month of August. Cash Accounts receivable Office supplies Land Office equipment Accounts payable $ 25, 360 C. Camry, Withdrawals 22,360 Consulting fees earned 5,250 Rent expense 44,000 Salaries expense 20,000 Telephone expense 10,500 Miscellaneous expenses $ 6,000 27,000 9,550 5,600 860 520 Use the above information to prepare an August statement of owner's equity for Help Today. The owner's capital account balance at July 31 was $0, and the owner...
Wolfpack Construction has the following account balances at the end of the year. Accounts Equipment Accounts payable Salaries expense Common stock Land Notes payable Service revenue Cash Retained earnings Balances $16,500 1,100 23,500 11,000 8,500 10,500 29,500 4,100 Use only the appropriate accounts to prepare a balance sheet. WOLFPACK CONSTRUCTION Balance Sheet December 31 Liabilitie / / / / / Total liabilities / Stockholders' Equity / Total assets Total stockholders' equity Total liabilities and stockholders' equity S 0
The following is the adjusted trial balance of Susan Company. Account Title Cash Prepaid insurance Notes receivable (due in 5 years) Buildings Accumulated depreciation-Buildings Accounts payable Notes payable (due in 3 years) Common stock Retained earnings Dividends Consulting revenue Wages expense Depreciation expense-Buildings Insurance expense Totals Debit Credit $15,000 1,000 5,000 45,000 $17,000 5,000 5,500 7,500 10,500 3,500 34,500 4,000 4,500 2,000 $80,000 $80,000 Required 1) Prepare an income statement for the year ended December 31. 2) Prepare a statement...
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