Homework Answers
SHERIDIAN INC
TRIAL BALANCE
| Particular | Debit($) | Credit($) |
| Accounts payable | 9800 | |
| Accounts receivable | 14300 | |
| Accumulated depreciation-equipment | 21300 | |
| Bank loan payable,due 2020 | 38300 | |
| Cash | 13500 | |
| Common shares | 38000 | |
| Depreciation expense | 9500 | |
| Dividends declared | 800 | |
| Equipment | 98100 | |
| Held for trading investments | 18000 | |
| Income tax expense | 3000 | |
| Insurance expense | 1800 | |
| Interest expense | 3700 | |
| Prepaid insurance | 100 | |
| Rent expense | 8700 | |
| Repairs and maintenance expense | 10200 | |
| Retained eamings | 20300 | |
| Salaries expense | 24700 | |
| Salaries payable | 800 | |
| Service revenue | 77900 | |
| Issued Share | 11000 |
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Question 9 The following is a list of accounts, in alphabetical order, for Sheridan, Inc. at...
The following is a list of accounts, in alphabetical order, for Sheridan, Inc. at July 31,...
The following is a list of accounts, in alphabetical order, for Sheridan, Inc. at July 31, 2018: Accounts payable Accounts receivable Accumulated depreciation-equipment Bank loan payable, due 2020 Cash Common shares Depreciation expense Dividends declared Equipment Held for trading investments $9,800 14,300 21,300 38,300 Prepaid insurancee 13,500 Rent expense 38,000 $3,000 1,800 3,700 100 8,700 10,200 20,300 24,700 800 77,900 Income tax expense Insurance expense Interest expense Repairs and maintenance expense 9,500 Retained earnings 800 Salaries expense 98,100 Salaries payable...
Following are the general ledger account balances, listed in alphabetical order Accounts payable Accounts receivable Accumulated...
Following are the general ledger account balances, listed in alphabetical order Accounts payable Accounts receivable Accumulated depreciation-equipment 3,700 Rent expense Cash Common shares Dividends declared Equipment s 3,000 Held for trading investments 5,600 400 900 11,720 3,700 6,020 160 4,000 Income tax expense 2,400 Retained earnings 9,100 Salaries expense 300 Service revenue 16,400 Unearned revenue Identify the normal balance of each account. Normal Balance Accounts payable Accounts receivable Accumulated depreciation-equipment Cash Common shares Dividends declared Equipment Held for trading investments...
A list of accounts, in alphabetical order, and their balances at October 31, 2022 is presented...
A list of accounts, in alphabetical order, and their balances at October 31, 2022 is presented below for Blossom Corporation: Accounts payable Accounts receivable Bank loan payable Cash Common shares Deferred revenue Equipment Income tax expense $3,510 6,790 8,670 13,144 20.240 3,220 16,480 1,406 Rent expense Salaries expense Service revenue Supplies Supplies expense Utilities $1,530 7,080 14,900 2,390 900 820 Prepare a trial balance at October 31, 2022 BLOSSOM CORP. Trial Balance Credit Debit Debit Credit Totals
Question 6 Oromocto Corporation reports the following adjusted account balances, shown in alphabetical order, at the...
Question 6 Oromocto Corporation reports the following adjusted account balances, shown in alphabetical order, at the end of its fiscal year, February 28, 2018: Accounts payable Accounts receivable Accumulated depreciation-equipment Cash Common shares Depreciation expense Dividends declared Equipment Fees earned Income tax expense 13,340 Income tax payable 4,550 25,550 Insurance expense 3,170 2,410 6,930 6,390 Retained earnings 22,660 3,170 2,190 Salaries expense 46,600 1,270 89,110 Supplies expense 3,800 3,000 5,560 17,900 Rent expense Prepaid insurance 4,290 Salaries payable 22,790 Supplies...
The following information is available for Sheridan Company Accounts receivable $3,100 Cash $6,370 Accounts payable 4,100...
The following information is available for Sheridan
Company
Accounts receivable
$3,100
Cash
$6,370
Accounts payable
4,100
Supplies
3,790
Interest payable
580
Unearned service revenue
800
Salaries and wages expense
4,100
Service revenue
42,500
Notes payable
33,000
Salaries and wages payable
870
Common stock
58,500
Depreciation expense
710
Inventory
2,900
Equipment (net)
109,200
The following information is available for Sheridan Company Accounts receivable $3,100 Cash $6,370 Accounts payable 4,100 Supplies 3,790 Interest payable 580 Unearned service revenue 800 Salaries and wages...
ccounts from the adjusted trial balance at September 30, 2018, are listed in alphabetical order below...
ccounts from the adjusted trial balance at September 30, 2018,
are listed in alphabetical order below for Ozaki Corp.:
Accounts payable
$4,460
Income tax payable
$200
Accounts receivable
8,600
Interest expense
102
Accumulated depreciation—equipment
750
Interest payable
102
Bank loan payable
7,800
Rent expense
1,500
Cash
3,250
Retained earnings
1,965
Common shares
7,000
Salaries expense
13,040
Depreciation expense
750
Salaries payable
840
Dividends declared
700
Supplies
1,195
Equipment
15,040
Supplies expense
485
Fees earned
22,485
Unearned revenue
480
Income tax...
Current Attempt in Progress Morrison Services Ltd. reports the following adjusted account balances, shown in alphabetical...
Current Attempt in Progress Morrison Services Ltd. reports the following adjusted account balances, shown in alphabetical order, at the end of its fiscal year, July 31, 2018: Accounts payable $2,880 Interest expense $1,410 Accounts receivable 19,925 Interest payable 1,320 Accumulated depreciation-equipment 5,715 Prepaid insurance 3,600 Bank loan payable, due 2021 24,700 Rent expense 17,690 Cash 7,490 Rent payable Retained earnings 1,210 Common shares 4,870 5,200 Depreciation expense 2,185 Salaries expense 19,140 Dividends declared 460 Salaries payable 2,150 Equipment 25,400 Service...
The following information is available for Sheridan Company $6,370 3.790 800 Accounts receivable $3,100 Cash Accounts...
The following information is available for Sheridan Company $6,370 3.790 800 Accounts receivable $3,100 Cash Accounts payable 4,100 Supplies Interest payable 580 Unearned service revenue Salaries and wages expense 4.100 Service revenue Notes payable 33,000 Salaries and wages payable Common stock 58,500 Depreciation expense Inventory 2,900 Equipment (net) 42,500 870 710 109,200 Using the information above, prepare a balance sheet as of December 31, 2022. (List assets in order of liquidity.) Sheridan Company Balance Sheet December 31, 2022 cash Liabilities...
5,400 BE4-11 Oromocto Corporation reports the following adjusted account balances, shown in alphabetical order, at the...
5,400 BE4-11 Oromocto Corporation reports the following adjusted account balances, shown in alphabetical order, at the end of its fiscal year, February 28, 2018: Accounts payable $13,000 Income tax payable $ 4,550 Accounts receivable 28,000 Insurance expense 3,500 Accumulated depreciation-equipment Prepaid insurance 2,500 Cash 18,000 Rent expense 6,000 Common shares 10,000 Retained earnings 21,000 Depreciation expense 4,400 Salaries payable 3,000 Dividends declared 2,000 Salaries expense 46,400 Equipment 23,450 Supplies 1,000 Fees earned 89,500 Supplies expense 4,000 Income tax expense 4,800...
Current Attempt in Progress The following is an alphabetical list of accounts and balances for J....
Current Attempt in Progress The following is an alphabetical list of accounts and balances for J. Saggit, proprietorship, at lune 30, 20211 Accounts Payable Accounts Receivable Cash Equipment Interest Expense J.Saggit, Capital J.Saggit, Drawings Land $13,300 10,850 8,500 19,350 530 29,700 12,700 67,800 Notes Payable Prepaid Expenses Rent Expense Salaries Expense Service Revenue Supplies Utilities Expense $31,800 3,200 4,800 8,000 66.810 5,300 580 Prepare a trial balance at June 30. Prepare a trial balance at June 30. J. SAGGIT Trial...
The following is a list of accounts, in alphabetical order, for Sheridan, Inc. at July 31, 2018: Accounts payable Accounts receivable Accumulated depreciation-equipment Bank loan payable, due 2020 Cash Common shares Depreciation expense Dividends declared Equipment Held for trading investments $9,800 14,300 21,300 38,300 Prepaid insurancee 13,500 Rent expense 38,000 $3,000 1,800 3,700 100 8,700 10,200 20,300 24,700 800 77,900 Income tax expense Insurance expense Interest expense Repairs and maintenance expense 9,500 Retained earnings 800 Salaries expense 98,100 Salaries payable...
Following are the general ledger account balances, listed in alphabetical order Accounts payable Accounts receivable Accumulated depreciation-equipment 3,700 Rent expense Cash Common shares Dividends declared Equipment s 3,000 Held for trading investments 5,600 400 900 11,720 3,700 6,020 160 4,000 Income tax expense 2,400 Retained earnings 9,100 Salaries expense 300 Service revenue 16,400 Unearned revenue Identify the normal balance of each account. Normal Balance Accounts payable Accounts receivable Accumulated depreciation-equipment Cash Common shares Dividends declared Equipment Held for trading investments...
A list of accounts, in alphabetical order, and their balances at October 31, 2022 is presented below for Blossom Corporation: Accounts payable Accounts receivable Bank loan payable Cash Common shares Deferred revenue Equipment Income tax expense $3,510 6,790 8,670 13,144 20.240 3,220 16,480 1,406 Rent expense Salaries expense Service revenue Supplies Supplies expense Utilities $1,530 7,080 14,900 2,390 900 820 Prepare a trial balance at October 31, 2022 BLOSSOM CORP. Trial Balance Credit Debit Debit Credit Totals
Question 6 Oromocto Corporation reports the following adjusted account balances, shown in alphabetical order, at the end of its fiscal year, February 28, 2018: Accounts payable Accounts receivable Accumulated depreciation-equipment Cash Common shares Depreciation expense Dividends declared Equipment Fees earned Income tax expense 13,340 Income tax payable 4,550 25,550 Insurance expense 3,170 2,410 6,930 6,390 Retained earnings 22,660 3,170 2,190 Salaries expense 46,600 1,270 89,110 Supplies expense 3,800 3,000 5,560 17,900 Rent expense Prepaid insurance 4,290 Salaries payable 22,790 Supplies...
The following information is available for Sheridan
Company
Accounts receivable
$3,100
Cash
$6,370
Accounts payable
4,100
Supplies
3,790
Interest payable
580
Unearned service revenue
800
Salaries and wages expense
4,100
Service revenue
42,500
Notes payable
33,000
Salaries and wages payable
870
Common stock
58,500
Depreciation expense
710
Inventory
2,900
Equipment (net)
109,200
The following information is available for Sheridan Company Accounts receivable $3,100 Cash $6,370 Accounts payable 4,100 Supplies 3,790 Interest payable 580 Unearned service revenue 800 Salaries and wages...
ccounts from the adjusted trial balance at September 30, 2018,
are listed in alphabetical order below for Ozaki Corp.:
Accounts payable
$4,460
Income tax payable
$200
Accounts receivable
8,600
Interest expense
102
Accumulated depreciation—equipment
750
Interest payable
102
Bank loan payable
7,800
Rent expense
1,500
Cash
3,250
Retained earnings
1,965
Common shares
7,000
Salaries expense
13,040
Depreciation expense
750
Salaries payable
840
Dividends declared
700
Supplies
1,195
Equipment
15,040
Supplies expense
485
Fees earned
22,485
Unearned revenue
480
Income tax...
Current Attempt in Progress Morrison Services Ltd. reports the following adjusted account balances, shown in alphabetical order, at the end of its fiscal year, July 31, 2018: Accounts payable $2,880 Interest expense $1,410 Accounts receivable 19,925 Interest payable 1,320 Accumulated depreciation-equipment 5,715 Prepaid insurance 3,600 Bank loan payable, due 2021 24,700 Rent expense 17,690 Cash 7,490 Rent payable Retained earnings 1,210 Common shares 4,870 5,200 Depreciation expense 2,185 Salaries expense 19,140 Dividends declared 460 Salaries payable 2,150 Equipment 25,400 Service...
The following information is available for Sheridan Company $6,370 3.790 800 Accounts receivable $3,100 Cash Accounts payable 4,100 Supplies Interest payable 580 Unearned service revenue Salaries and wages expense 4.100 Service revenue Notes payable 33,000 Salaries and wages payable Common stock 58,500 Depreciation expense Inventory 2,900 Equipment (net) 42,500 870 710 109,200 Using the information above, prepare a balance sheet as of December 31, 2022. (List assets in order of liquidity.) Sheridan Company Balance Sheet December 31, 2022 cash Liabilities...
5,400 BE4-11 Oromocto Corporation reports the following adjusted account balances, shown in alphabetical order, at the end of its fiscal year, February 28, 2018: Accounts payable $13,000 Income tax payable $ 4,550 Accounts receivable 28,000 Insurance expense 3,500 Accumulated depreciation-equipment Prepaid insurance 2,500 Cash 18,000 Rent expense 6,000 Common shares 10,000 Retained earnings 21,000 Depreciation expense 4,400 Salaries payable 3,000 Dividends declared 2,000 Salaries expense 46,400 Equipment 23,450 Supplies 1,000 Fees earned 89,500 Supplies expense 4,000 Income tax expense 4,800...
Current Attempt in Progress The following is an alphabetical list of accounts and balances for J. Saggit, proprietorship, at lune 30, 20211 Accounts Payable Accounts Receivable Cash Equipment Interest Expense J.Saggit, Capital J.Saggit, Drawings Land $13,300 10,850 8,500 19,350 530 29,700 12,700 67,800 Notes Payable Prepaid Expenses Rent Expense Salaries Expense Service Revenue Supplies Utilities Expense $31,800 3,200 4,800 8,000 66.810 5,300 580 Prepare a trial balance at June 30. Prepare a trial balance at June 30. J. SAGGIT Trial...
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