Homework Answers
| Particulars | Amount | |||
| Beginning inventory | $ 6,400.00 | |||
| Add: | Net Purchases | $ 39,400.00 | ||
| Add: | Transportation In | $ 375.00 | ||
| Less: | Ending inventory | $ (7,500.00) | ||
| Cost of Goods sold | $ 38,675.00 | |||
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APA1111C - ASSIGNMENT # 5 (CHPT 5) **** only # 1 is required**** TO Problem Se Financial Statements A list of...
A list of accounts for Maple Inc. at December 31, 2016, follows: Accounts Receivable Advertising Expense...
A list of accounts for Maple Inc. at December 31, 2016, follows: Accounts Receivable Advertising Expense Buildings and Equipment, Net Capital Stock Cash Depreciation Expense Dividends Income Tax Expense Income Tax Payable Interest Receivable Inventory: January 1, 2016 December 31, 2016 $ 2,359 $ 4,510 $ 55,550 $ 50,000 $ 590 $ 2,300 $ 6,000 $ 3,200 $ 3,200 $ 100 Land Net purchases Retained Earnings, January 1, 2016 Salaries Expense Salaries Payable Net sales Transportation-In Utilities Expense $ 20,000...
LO2 Problem 5-9 Financial Statements A list of accounts for Maple Inc. at December 31, 2016,...
LO2 Problem 5-9 Financial Statements A list of accounts for Maple Inc. at December 31, 2016, follows: Accounts Receivable $ 2,359 Land Advertising Expense 4.510 Net purchases Buildings and Equipment, Net 55,550 Retained Earnings, January 1, 2016 Capital Stock 50,000 Salaries Expense 590 Salaries Payable Cash 2,300 Net sales Depreciation Expense 6,000 Transportation in Dividends Utilities Expense Income Tax Expense 3,200 Income Tax Payable 100 Interest Receivable Inventory: 6,400 January 1, 2016 7,500 December 31, 2016 $20,000 39,400 32,550 25,600...
inancial Statements A list of accounts for Maple Inc. at December 31, 2017, follows: Accounts Receivable...
inancial Statements A list of accounts for Maple Inc. at December 31, 2017, follows: Accounts Receivable $2,407 Land $20,100 Advertising Expense 4,520 Net purchases 39,310 Buildings and Equipment, Net 55,500 Retained Earnings, January 1, 2017 32,853 Capital Stock 49,700 Salaries Expense 25,630 Cash 530 Salaries Payable 580 Depreciation Expense 2,200 Net sales 83,493 Dividends 6,070 Transportation-In 299 Income Tax Expense 3,180 Utilities Expense 3,680 Income Tax Payable 3,300 Interest Receivable 110 Inventory: January 1, 2017 6,390 December 31, 2017 7,530...
Can you please answer the excercise above? Cost of Goods Sold K AA Problem 5-9A Financial...
Can you please answer the excercise above?
Cost of Goods Sold K AA Problem 5-9A Financial Statements LO2 3 A list of accounts for Lloyd Inc. at December 31, 2017, follows: Accounts Receivable $56,359 Net purchases Retained Eamings, January 1, 2017 Salanes Payable Net sales Transportation in Utities Expense Wages and Salaries Expense Wages Payable $ 61,608 28.252 Advertising Expense 12,000 Capital Stock Cash Dividends 50,000 650 22.340 111,760 6,000 375 Income Tax Expense 1,450 1450 1800 Income Tax Payable...
A list of accounts of Lloyd INC. at December 2017... Required 1. Determined the cost of...
A list of accounts of Lloyd INC. at December 2017...
Required
1. Determined the cost of goods sold
2. Determine Net Income for 2017
3. Prepare a Balance Sheet dated December 31, 2017
4. Calculate Inventory Turnover Ratio, Days to sell inventory,
and the cash paid to purchase inventory
$56,359 12,900 50,000 22,340 6,000 1,450 1,450 $ 61,608 28,252 650 111,760 Accounts Receivable Advertising Expense Capital Stock Cash Dividends Income Tax Expense Income Tax Payable Inventory: January 1, 2017 December...
Required Information Reporting Amounts on the Four Basic Financial Statements and Evaluating Financial Statements [LO 1-2,...
Required Information Reporting Amounts on the Four Basic Financial Statements and Evaluating Financial Statements [LO 1-2, LO 1-3] [The following information applies to the questions displayed below.] The following information for the year ended December 31, 2016, was reported by Nice Bite, Inc. $ 45,000 22,890 103,500 102,800 189,500 Accounts Payable Accounts Receivable Cash (balance on January 1, 2016) Cash (balance on December 31, 2016) Common Stock Dividends Equipment Income Tax Expense Interest Expense Inventory Notes Payable Prepaid Rent Office...
Calculator Mastery Problem: The Adjusting Process Unadjusted Financial Statements Adjusted Financial Statements Chart of Accounts Unadjusted...
Calculator Mastery Problem: The Adjusting Process Unadjusted Financial Statements Adjusted Financial Statements Chart of Accounts Unadjusted Financial Statements These financial statements were prepared from the unadjusted trial balance. Cole Designs Inc. Income Statement For the Year Ended December 31, 2017 1 Fees eamed $68,200.00 2 Wages expense 3 Net income 44,300.00 $23,900.00 Cole Designs Inc. Balance Sheet December 31, 2017 Assets 2 Cash 3 Accounts receivable $5,000.00 31,400.00 4 Supplies 3,575.00 Work 1 more Check My Work uses remaining. Unadjusted...
factors might have caused the change in the gross profit ratio? po Vill WHAA AA Problem...
factors might have caused the change in the gross profit ratio? po Vill WHAA AA Problem 5-9A Financial Statements LO2 · 3 A list of accounts for Lloyd Inc. at December 31, 2017, follows: Net purchases Retoined Earnings January 1, 2017 Salaries Payable $56,350 12.000 50.000 22.340 6.000 1.450 1.450 $ 61,000+ 20.252 650 111.700 Accounts Receivable Advertising Expense Capital Stock Cash Dividends Income Tax Expense Income Tax Payable Inventory January 1, 2017 December 31, 2017 Net 978 Transportation in...
Required Information Reporting Amounts on the Four Basic Financial Statements and Evaluating Financial Statements [LO 1-2,...
Required Information Reporting Amounts on the Four Basic Financial Statements and Evaluating Financial Statements [LO 1-2, LO 1-3] [The following information applies to the questions displayed below.] The following information for the year ended December 31, 2016, was reported by Nice Bite, Inc. $ 45,000 22.88 1e3, see 102,800 180, 500 Accounts Payable Accounts Receivable Cash (balance on January 1, 2016) Cash (balance on December 31, 2016) Common Stock Dividends Equipment Income Tax Expense Interest Expense Inventory Notes Payable Prepaid...
Required Information Reporting Amounts on the Four Basic Financial Statements and Evaluating Financial Statements [LO 1-2,...
Required Information Reporting Amounts on the Four Basic Financial Statements and Evaluating Financial Statements [LO 1-2, LO 1-3] [The following information applies to the questions displayed below.] The following information for the year ended December 31, 2016, was reported by Nice Bite, Inc. $ 45,000 22.88 1e3, see 102,800 180, 500 Accounts Payable Accounts Receivable Cash (balance on January 1, 2016) Cash (balance on December 31, 2016) Common Stock Dividends Equipment Income Tax Expense Interest Expense Inventory Notes Payable Prepaid...
A list of accounts for Maple Inc. at December 31, 2016, follows: Accounts Receivable Advertising Expense Buildings and Equipment, Net Capital Stock Cash Depreciation Expense Dividends Income Tax Expense Income Tax Payable Interest Receivable Inventory: January 1, 2016 December 31, 2016 $ 2,359 $ 4,510 $ 55,550 $ 50,000 $ 590 $ 2,300 $ 6,000 $ 3,200 $ 3,200 $ 100 Land Net purchases Retained Earnings, January 1, 2016 Salaries Expense Salaries Payable Net sales Transportation-In Utilities Expense $ 20,000...
LO2 Problem 5-9 Financial Statements A list of accounts for Maple Inc. at December 31, 2016, follows: Accounts Receivable $ 2,359 Land Advertising Expense 4.510 Net purchases Buildings and Equipment, Net 55,550 Retained Earnings, January 1, 2016 Capital Stock 50,000 Salaries Expense 590 Salaries Payable Cash 2,300 Net sales Depreciation Expense 6,000 Transportation in Dividends Utilities Expense Income Tax Expense 3,200 Income Tax Payable 100 Interest Receivable Inventory: 6,400 January 1, 2016 7,500 December 31, 2016 $20,000 39,400 32,550 25,600...
Can you please answer the excercise above?
Cost of Goods Sold K AA Problem 5-9A Financial Statements LO2 3 A list of accounts for Lloyd Inc. at December 31, 2017, follows: Accounts Receivable $56,359 Net purchases Retained Eamings, January 1, 2017 Salanes Payable Net sales Transportation in Utities Expense Wages and Salaries Expense Wages Payable $ 61,608 28.252 Advertising Expense 12,000 Capital Stock Cash Dividends 50,000 650 22.340 111,760 6,000 375 Income Tax Expense 1,450 1450 1800 Income Tax Payable...
A list of accounts of Lloyd INC. at December 2017...
Required
1. Determined the cost of goods sold
2. Determine Net Income for 2017
3. Prepare a Balance Sheet dated December 31, 2017
4. Calculate Inventory Turnover Ratio, Days to sell inventory,
and the cash paid to purchase inventory
$56,359 12,900 50,000 22,340 6,000 1,450 1,450 $ 61,608 28,252 650 111,760 Accounts Receivable Advertising Expense Capital Stock Cash Dividends Income Tax Expense Income Tax Payable Inventory: January 1, 2017 December...
Required Information Reporting Amounts on the Four Basic Financial Statements and Evaluating Financial Statements [LO 1-2, LO 1-3] [The following information applies to the questions displayed below.] The following information for the year ended December 31, 2016, was reported by Nice Bite, Inc. $ 45,000 22,890 103,500 102,800 189,500 Accounts Payable Accounts Receivable Cash (balance on January 1, 2016) Cash (balance on December 31, 2016) Common Stock Dividends Equipment Income Tax Expense Interest Expense Inventory Notes Payable Prepaid Rent Office...
Calculator Mastery Problem: The Adjusting Process Unadjusted Financial Statements Adjusted Financial Statements Chart of Accounts Unadjusted Financial Statements These financial statements were prepared from the unadjusted trial balance. Cole Designs Inc. Income Statement For the Year Ended December 31, 2017 1 Fees eamed $68,200.00 2 Wages expense 3 Net income 44,300.00 $23,900.00 Cole Designs Inc. Balance Sheet December 31, 2017 Assets 2 Cash 3 Accounts receivable $5,000.00 31,400.00 4 Supplies 3,575.00 Work 1 more Check My Work uses remaining. Unadjusted...
factors might have caused the change in the gross profit ratio? po Vill WHAA AA Problem 5-9A Financial Statements LO2 · 3 A list of accounts for Lloyd Inc. at December 31, 2017, follows: Net purchases Retoined Earnings January 1, 2017 Salaries Payable $56,350 12.000 50.000 22.340 6.000 1.450 1.450 $ 61,000+ 20.252 650 111.700 Accounts Receivable Advertising Expense Capital Stock Cash Dividends Income Tax Expense Income Tax Payable Inventory January 1, 2017 December 31, 2017 Net 978 Transportation in...
Required Information Reporting Amounts on the Four Basic Financial Statements and Evaluating Financial Statements [LO 1-2, LO 1-3] [The following information applies to the questions displayed below.] The following information for the year ended December 31, 2016, was reported by Nice Bite, Inc. $ 45,000 22.88 1e3, see 102,800 180, 500 Accounts Payable Accounts Receivable Cash (balance on January 1, 2016) Cash (balance on December 31, 2016) Common Stock Dividends Equipment Income Tax Expense Interest Expense Inventory Notes Payable Prepaid...
Required Information Reporting Amounts on the Four Basic Financial Statements and Evaluating Financial Statements [LO 1-2, LO 1-3] [The following information applies to the questions displayed below.] The following information for the year ended December 31, 2016, was reported by Nice Bite, Inc. $ 45,000 22.88 1e3, see 102,800 180, 500 Accounts Payable Accounts Receivable Cash (balance on January 1, 2016) Cash (balance on December 31, 2016) Common Stock Dividends Equipment Income Tax Expense Interest Expense Inventory Notes Payable Prepaid...
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