Required information [The following information applies to the questions displayed below.] The adjusted trial balance...
Required information
[The following information applies to the questions
displayed below.]
The adjusted trial balance for Chiara Company as of December 31,
2017, follows.
| Debit | Credit | |||||
| Cash | $ | 176,900 | ||||
| Accounts receivable | 51,000 | |||||
| Interest receivable | 22,600 | |||||
| Notes receivable (due in 90 days) | 172,000 | |||||
| Office supplies | 16,000 | |||||
| Automobiles | 172,000 | |||||
| Accumulated depreciation—Automobiles | $ | 95,000 | ||||
| Equipment | 136,000 | |||||
| Accumulated depreciation—Equipment | 21,000 | |||||
| Land | 78,000 | |||||
| Accounts payable | 92,000 | |||||
| Interest payable | 20,000 | |||||
| Salaries payable | 17,000 | |||||
| Unearned fees | 40,000 | |||||
| Long-term notes payable | 156,000 | |||||
| Common stock | 29,580 | |||||
| Retained earnings | 266,220 | |||||
| Dividends | 45,000 | |||||
| Fees earned | 544,000 | |||||
| Interest earned | 26,000 | |||||
| Depreciation expense—Automobiles | 26,500 | |||||
| Depreciation expense—Equipment | 22,000 | |||||
| Salaries expense | 189,000 | |||||
| Wages expense | 44,000 | |||||
| Interest expense | 34,800 | |||||
| Office supplies expense | 34,000 | |||||
| Advertising expense | 62,000 | |||||
| Repairs expense—Automobiles | 25,000 | |||||
| Totals | $ | 1,306,800 | $ | 1,306,800 | ||
Required:
1(a) Prepare the income statement for the year ended
December 31, 2017.
1(b) Prepare the statement of retained earnings
for the year ended December 31, 2017.
1(c) Prepare Chiara Company's balance sheet as of
December 31, 2017.
Prepare the income statement for the year ended December 31, 2017.
Really need help filling this out:
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- and need help with:
Prepare the statement of retained earnings for the year ended December 31, 2017.
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And want to check if this part is right I finished:
repare Chiara Company's balance sheet as of December 31, 2017.
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Homework Answers
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Required information
[The following information applies to the questions
displayed below.]
The adjusted trial balance...
The adjusted trial balance for Chiara Company as of December 31 follows. 87,800 50,000 22,600 168,500...
The adjusted trial balance for
Chiara Company as of December 31 follows.
87,800 50,000 22,600 168,500 15,500 168,000 $ 90,000 136,000 19,000 78,000 Cash Accounts receivable Interest receivable Notes receivable (due in 90 days) Office supplies Automobiles Accumulated depreciation-Automobiles Equipment Accumulated depreciation-Equipment Land Accounts payable Interest payable Salaries payable Unearned fees Long-term notes payable Common stock Retained earnings Dividends Fees earned Interest earned Depreciation expense-Automobiles Depreciation expense-Equipment Salaries expense Wages expense Interest expense office supplies expense Advertising expense Repairs expense-Automobiles...
The adjusted trial balance for Chiara Company as of December 31, 2017, follows. 1(a) Prepare the...
The adjusted trial balance for
Chiara Company as of December 31, 2017, follows.
1(a) Prepare the income statement for the year ended December 31, 2017 1(b) Prepare the statement of retained earnings for the year ended December 31, 2017 1(c) Prepare Chiara Company's balance sheet as of December 31, 2017 Complete this question by entering your answers in the tabs below. Reg 1A Reg 1B Reg 10 Prepare the income statement for the year ended December 31, 2017. CHIARA COMPANY...
The adjusted trial balance for Chiara Company as of December 31 follows. Debit Credit Cash $...
The adjusted trial balance for Chiara Company as of December 31 follows. Debit Credit Cash $ 146,200 Accounts receivable 55,000 Interest receivable 21,800 Notes receivable (due in 90 days) 171,000 Office supplies 15,500 Automobiles 172,000 Accumulated depreciation—Automobiles $ 50,000 Equipment 140,000 Accumulated depreciation—Equipment 17,000 Land 77,000 Accounts payable 103,000 Interest payable 40,000 Salaries payable 24,000 Unearned fees 30,000 Long-term notes payable 146,000 Common stock 32,580 Retained earnings 293,220 Dividends 54,000 Fees earned 514,000 Interest earned 24,000 Depreciation expense—Automobiles 25,500 Depreciation...
The adjusted trial balance for Chiara Company as of December 31, 2017, follows. Debit Credit Cash...
The adjusted trial balance for Chiara Company as of December 31, 2017, follows. Debit Credit Cash $ 225,300 Accounts receivable 51,000 Interest receivable 20,000 Notes receivable (due in 90 days) 172,000 Office supplies 16,000 Automobiles 169,000 Accumulated depreciation—Automobiles $ 105,000 Equipment 146,000 Accumulated depreciation—Equipment 19,000 Land 84,000 Accounts payable 103,000 Interest payable 40,000 Salaries payable 23,000 Unearned fees 34,000 Long-term notes payable 152,000 Common stock 29,580 Retained earnings 266,220 Dividends 54,000 Fees earned 574,000 Interest earned 36,000 Depreciation expense—Automobiles 28,000...
Required information Problem 3-5A Preparing financial statements from the adjusted trial balance and computing profit margin...
Required information Problem 3-5A Preparing financial statements from the adjusted trial balance and computing profit margin LO P3, A1, A2 [The following information applies to the questions displayed below.] The adjusted trial balance for Chiara Company as of December 31, 2017, follows. Debit Credit Cash $ 180,100 Accounts receivable 50,500 Interest receivable 21,600 Notes receivable (due in 90 days) 170,500 Office supplies 15,500 Automobiles 168,000 Accumulated depreciation—Automobiles $ 50,000 Equipment 136,000 Accumulated depreciation—Equipment 18,000 Land 87,000 Accounts payable 102,000...
Required information Problem 3-5A Preparing financial statements from the adjusted trial balance and computing profit margin...
Required information Problem 3-5A Preparing financial statements from the adjusted trial balance and computing profit margin LO P3, A1, A2 [The following information applies to the questions displayed below.] The adjusted trial balance for Chiara Company as of December 31, 2017, follows. Debit Credit Cash $ 180,100 Accounts receivable 50,500 Interest receivable 21,600 Notes receivable (due in 90 days) 170,500 Office supplies 15,500 Automobiles 168,000 Accumulated depreciation—Automobiles $ 50,000 Equipment 136,000 Accumulated depreciation—Equipment 18,000 Land 87,000 Accounts payable 102,000...
The adjusted trial balance for Chiara Company as of December 31 follows. Credit $ Debit 124,200...
The adjusted trial balance for Chiara Company as of December 31 follows. Credit $ Debit 124,200 51,500 21,600 172,500 16,500 168,000 $ 55,000 146,000 17,000 86,000 Cash Accounts receivable Interest receivable Notes receivable (due in 90 days) Office supplies Automobiles Accumulated depreciation-Automobiles Equipment Accumulated depreciation-Equipment Land Accounts payable Interest payable Salaries payable Unearned fees Long-term notes payable Common stock Retained earnings Dividends Fees earned Interest earned Depreciation expense-Automobiles Depreciation expense-Equipment Salaries expense Wages expense Interest expense Office supplies expense Advertising...
The adjusted trial balance for Chiara Company as of December 31 follows. Debit Credit Cash $...
The adjusted trial balance for Chiara Company as of December 31
follows.
Debit
Credit
Cash
$
185,900
Accounts receivable
54,500
Interest receivable
18,600
Notes receivable (due in 90 days)
171,000
Office supplies
15,500
Automobiles
169,000
Accumulated depreciation—Automobiles
$
70,000
Equipment
148,000
Accumulated depreciation—Equipment
25,000
Land
86,000
Accounts payable
103,000
Interest payable
20,000
Salaries payable
18,000
Unearned fees
40,000
Long-term notes payable
150,000
Common stock
30,580
Retained earnings
275,220
Dividends
48,000
Fees earned
554,000
Interest earned
38,000
Depreciation expense—Automobiles
25,000
Depreciation...
The adjusted trial balance for Chiara Company as of December 31 follows. Credit $ Debit 225,800...
The adjusted trial balance for Chiara Company as of December 31 follows. Credit $ Debit 225,800 56,000 22,600 172,500 16,000 166,000 $ 90,000 138,000 23,000 80,000 Cash Accounts receivable Interest receivable Notes receivable (due in 90 days) Office supplies Automobiles Accumulated depreciation-Automobiles Equipment Accumulated depreciation Equipment Land Accounts payable Interest payable Salaries payable Unearned fees Long-term notes payable Common stock Retained earnings Dividends Fees earned Interest earned Depreciation expense-Automobiles Depreciation expense-Equipment Salaries expense Wages expense Interest expense Office supplies expense...
The adjusted trial balance for Chiara Company as of December 31, 2017, follows. Debit Credit Cash...
The adjusted trial balance for Chiara Company as of December 31,
2017, follows.
Debit
Credit
Cash
$
225,300
Accounts receivable
51,000
Interest receivable
20,000
Notes receivable (due in 90 days)
172,000
Office supplies
16,000
Automobiles
169,000
Accumulated depreciation—Automobiles
$
105,000
Equipment
146,000
Accumulated depreciation—Equipment
19,000
Land
84,000
Accounts payable
103,000
Interest payable
40,000
Salaries payable
23,000
Unearned fees
34,000
Long-term notes payable
152,000
Common stock
29,580
Retained earnings
266,220
Dividends
54,000
Fees earned
574,000
Interest earned
36,000
Depreciation expense—Automobiles
28,000...
The adjusted trial balance for
Chiara Company as of December 31 follows.
87,800 50,000 22,600 168,500 15,500 168,000 $ 90,000 136,000 19,000 78,000 Cash Accounts receivable Interest receivable Notes receivable (due in 90 days) Office supplies Automobiles Accumulated depreciation-Automobiles Equipment Accumulated depreciation-Equipment Land Accounts payable Interest payable Salaries payable Unearned fees Long-term notes payable Common stock Retained earnings Dividends Fees earned Interest earned Depreciation expense-Automobiles Depreciation expense-Equipment Salaries expense Wages expense Interest expense office supplies expense Advertising expense Repairs expense-Automobiles...
The adjusted trial balance for
Chiara Company as of December 31, 2017, follows.
1(a) Prepare the income statement for the year ended December 31, 2017 1(b) Prepare the statement of retained earnings for the year ended December 31, 2017 1(c) Prepare Chiara Company's balance sheet as of December 31, 2017 Complete this question by entering your answers in the tabs below. Reg 1A Reg 1B Reg 10 Prepare the income statement for the year ended December 31, 2017. CHIARA COMPANY...
The adjusted trial balance for Chiara Company as of December 31 follows. Credit $ Debit 124,200 51,500 21,600 172,500 16,500 168,000 $ 55,000 146,000 17,000 86,000 Cash Accounts receivable Interest receivable Notes receivable (due in 90 days) Office supplies Automobiles Accumulated depreciation-Automobiles Equipment Accumulated depreciation-Equipment Land Accounts payable Interest payable Salaries payable Unearned fees Long-term notes payable Common stock Retained earnings Dividends Fees earned Interest earned Depreciation expense-Automobiles Depreciation expense-Equipment Salaries expense Wages expense Interest expense Office supplies expense Advertising...
The adjusted trial balance for Chiara Company as of December 31
follows.
Debit
Credit
Cash
$
185,900
Accounts receivable
54,500
Interest receivable
18,600
Notes receivable (due in 90 days)
171,000
Office supplies
15,500
Automobiles
169,000
Accumulated depreciation—Automobiles
$
70,000
Equipment
148,000
Accumulated depreciation—Equipment
25,000
Land
86,000
Accounts payable
103,000
Interest payable
20,000
Salaries payable
18,000
Unearned fees
40,000
Long-term notes payable
150,000
Common stock
30,580
Retained earnings
275,220
Dividends
48,000
Fees earned
554,000
Interest earned
38,000
Depreciation expense—Automobiles
25,000
Depreciation...
The adjusted trial balance for Chiara Company as of December 31 follows. Credit $ Debit 225,800 56,000 22,600 172,500 16,000 166,000 $ 90,000 138,000 23,000 80,000 Cash Accounts receivable Interest receivable Notes receivable (due in 90 days) Office supplies Automobiles Accumulated depreciation-Automobiles Equipment Accumulated depreciation Equipment Land Accounts payable Interest payable Salaries payable Unearned fees Long-term notes payable Common stock Retained earnings Dividends Fees earned Interest earned Depreciation expense-Automobiles Depreciation expense-Equipment Salaries expense Wages expense Interest expense Office supplies expense...
The adjusted trial balance for Chiara Company as of December 31,
2017, follows.
Debit
Credit
Cash
$
225,300
Accounts receivable
51,000
Interest receivable
20,000
Notes receivable (due in 90 days)
172,000
Office supplies
16,000
Automobiles
169,000
Accumulated depreciation—Automobiles
$
105,000
Equipment
146,000
Accumulated depreciation—Equipment
19,000
Land
84,000
Accounts payable
103,000
Interest payable
40,000
Salaries payable
23,000
Unearned fees
34,000
Long-term notes payable
152,000
Common stock
29,580
Retained earnings
266,220
Dividends
54,000
Fees earned
574,000
Interest earned
36,000
Depreciation expense—Automobiles
28,000...
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