Homework Answers
|
Advertising expense |
$9000 |
Stockholders’ equity = common stock + retained earnings.
187,000 = 97,000 + Retained earnings at December 31
Retained earnings at December 31 = 187000-97000 = $90000
Ending retained earnings = Beginning retained earnings + Net income – Dividends
90000 = 59,000 + Net income - 11,000
Net income = 90000-59000+11000 = $42000
Net income = Revenues – Expenses
Net income = 42000
|
Revenues |
|
|
Sales revenue |
95000 |
|
Rental revenue |
29000 |
|
Total revenue |
124000 |
|
Expenses |
|
|
Advertising expense |
X |
|
Cost of goods sold |
42000 |
|
Utilities expense |
13000 |
|
Income tax expense |
18000 |
|
Total expenses |
73000+X |
Net income = Revenues – Expenses
42000 = 124000-(73000+X)
42000=124000-73000-X
X = 124000-73000-42000
X =9000
Therefore,
Advertising expense = $9000
Add Answer to:
Question 7 5.5 pts The following information was taken from the accounting records of zz, Inc....
The following information was taken from the accounting records of ZZ, Inc. for the year ended...
The following information was taken from the accounting records of ZZ, Inc. for the year ended December 31, 2019: Cash ........................ $26,000 Accounts Payable ............ $41,000 Sales Revenue ............... $95,000 Copyright ................... $37,000 Advertising Expense ......... ? Common Stock ................ $97,000 Utilities Payable ........... $13,000 Supplies .................... $16,000 Cost of Goods Sold .......... $42,000 Rental Revenue .............. $29,000 Building .................... $86,000 Notes Payable ............... ? Utilities Expense ........... $13,000 Inventory ................... $77,000 Dividends ................... $11,000 Equipment ................... $56,000 Retained Earnings...
Question 4 5.5 pts The following information was taken from the accounting records of zz, Inc....
Question 4 5.5 pts The following information was taken from the accounting records of zz, Inc. for the year ended December 31, 2019: Cash Accounts Payable $41,eee Sales Revenue .. . . $95,800 Copyright $37,800 Advertising Expense Common Stock $97,88 Utilities Payable $16,000 Supplies $13,80 $26,000 s 000 Notes Payable Inventory $77,800 $59,000 (at January 1, 2019) Retained Earnings $59,000 (at January 1, 2019) Accounts Receivable $61,608 ZZ, Inc. reported total equity at December 31, 2819 of $178,ee0. Calculate the...
Question 6 6 pts The following information was taken from the accounting records of Z2, Inc....
Question 6 6 pts The following information was taken from the accounting records of Z2, Inc. for the year ended December 31, 2019: Cash ...s...26,000 Accounts PayableS41,000 Sales Revenue 095,000 Copyrightvonco.$37,000 Advertising Expense n. Common Stock $97,000 Utilities Supplies$13,000 Cost of Goods sola . Rental Revenue $29,000 Building Notes Payable Utilities Expense$16,00 InventoryANH.v.$77,00 Dividendssowwspepo $11,000 Equipment$56,000 Retatned Earnings $59,000 Cat January 1, 2019) Income Tax Expense $18,000 Accounts Receivable$61, Payable $16,000 $42,000 UABEBEUSR$68,000 z ZZ, Inc reported total equity at...
The following information was taken from the accounting records of ZZ, Inc. for the year ended...
The following information was taken from the accounting records of ZZ, Inc. for the year ended December 31, 2019: 7 Income Tax Expense . . . . $18,000 ZZ, Inc. reported total equity at December 31, 2019 of $178,000. Calculate the amount of net income earned by ZZ, Inc. during 2019.
JYF Company's accounting records at December 31, 2022 reported the following account balances: Cash $25,000 Retained...
JYF Company's accounting records at December 31, 2022 reported
the following account balances:
Cash $25,000
Retained Earnings $53,000 (at January 1, 2022)
Prepaid Insurance $18,000
Advertising Expense $22,000
Cost of Goods Sold $29,000
Interest Revenue $31,000
Copyright $28,000
Supplies $12,000
Accounts Receivable $51,000
Common Stock $91,000
Accounts Payable $50,000
Patent $21,000
Notes Payable $86,000 (due March 1, 2023)
Income Tax Expense $21,000
Inventory $59,000
Building $34,000
Salaries Expense $14,000
Sales Revenue $79,000
Dividends $11,000
Equipment $45,000
Calculate JYF Company's total...
JYF Company's accounting records at December 31, 2022 reported the following account balances: Cash $25,000 Retained...
JYF Company's accounting records at December 31, 2022 reported
the following account balances:
Cash $25,000
Retained Earnings $53,000 (at January 1, 2022)
Prepaid Insurance $18,000
Advertising Expense $22,000
Cost of Goods Sold $29,000
Interest Revenue $31,000
Copyright $28,000
Supplies $12,000
Accounts Receivable $51,000
Common Stock $91,000
Accounts Payable $50,000
Patent $21,000
Notes Payable $86,000 (due March 1, 2023)
Income Tax Expense $21,000
Inventory $59,000
Building $34,000
Salaries Expense $14,000
Sales Revenue $79,000
Dividends $11,000
Equipment $45,000
Calculate JYF Company's total...
The following account balances were taken from DJR Company’s accounting records at December 31, 2021: Accounts...
The following account balances were taken from DJR Company’s
accounting records at December 31, 2021:
Accounts Payable ............ $69,000
Accounts Receivable ......... $56,000
Advertising Expense ......... $33,000
Building .................... $94,000
Cash ........................ $31,000
Common Stock ................ $82,000
Cost of Goods Sold .......... $30,000
Dividends ................... $19,000
Equipment ................... $86,000
Income Tax Expense .......... $17,000
Interest Expense ............ $11,000
Inventory ................... $54,000
Notes Payable ............... $96,000
Rental Revenue .............. $62,000
Retained Earnings ........... $60,000 (at January 1, 2021)
Salaries Expense ...............
JYF Company's accounting records at December 31, 2022 reported the following account balances: Cash $25,000 Retained...
JYF Company's accounting records at December 31, 2022 reported the following account balances: Cash $25,000 Retained Earnings $53,000 (at January 1, 2022) Prepaid Insurance $18,000 Advertising Expense $22,000 Cost of Goods Sold $29,000 Interest Revenue $31,000 Copyright $28,000 Supplies $12,000 Accounts Receivable $51,000 Common Stock $91,000 Accounts Payable $50,000 Patent $21,000 Notes Payable $86,000 (due March 1, 2023) Income Tax Expense $21,000 Inventory $59,000 Building $34,000 Salaries Expense $14,000 Sales Revenue $79,000 Dividends $11,000 Equipment $45,000 Calculate JYF Company's total...
The following account balances were taken from DJR Company’s accounting records at December 31, 2021: Accounts...
The following account balances were taken from DJR Company’s
accounting records at December 31, 2021:
Accounts Payable ............ $69,000
Accounts Receivable ......... $56,000
Advertising Expense ......... $33,000
Building .................... $94,000
Cash ........................ $31,000
Common Stock ................ $82,000
Cost of Goods Sold .......... $30,000
Dividends ................... $19,000
Equipment ................... $86,000
Income Tax Expense .......... $17,000
Interest Expense ............ $11,000
Inventory ................... $54,000
Notes Payable ............... $96,000
Rental Revenue .............. $62,000
Retained Earnings ........... $60,000 (at January 1, 2021)
Salaries Expense ...............
Question 2 2.5 pts The following information was taken from the accounting records of ABC Company...
Question 2 2.5 pts The following information was taken from the accounting records of ABC Company for the period ended January 31, 2019: Cash Retained Earnings Advertising Expense Cost of Goods Sold Rental Revenue Accounts Payable Common Stock Accumulated Depreciation $17,000 Accounts Receivable Income Tax Expense Inventory Wage Expense Sales Revenue Trademark Buildings and Land $29,000 566,«8« (at January 1, 2019) $17,000 $36,000 $11,000 $38,000 72,000 $45,000 $14,000 $51,000 $12,000 $93,000 $10,000 $83,000 Calculate the amount of net income earned...
Question 4 5.5 pts The following information was taken from the accounting records of zz, Inc. for the year ended December 31, 2019: Cash Accounts Payable $41,eee Sales Revenue .. . . $95,800 Copyright $37,800 Advertising Expense Common Stock $97,88 Utilities Payable $16,000 Supplies $13,80 $26,000 s 000 Notes Payable Inventory $77,800 $59,000 (at January 1, 2019) Retained Earnings $59,000 (at January 1, 2019) Accounts Receivable $61,608 ZZ, Inc. reported total equity at December 31, 2819 of $178,ee0. Calculate the...
Question 6 6 pts The following information was taken from the accounting records of Z2, Inc. for the year ended December 31, 2019: Cash ...s...26,000 Accounts PayableS41,000 Sales Revenue 095,000 Copyrightvonco.$37,000 Advertising Expense n. Common Stock $97,000 Utilities Supplies$13,000 Cost of Goods sola . Rental Revenue $29,000 Building Notes Payable Utilities Expense$16,00 InventoryANH.v.$77,00 Dividendssowwspepo $11,000 Equipment$56,000 Retatned Earnings $59,000 Cat January 1, 2019) Income Tax Expense $18,000 Accounts Receivable$61, Payable $16,000 $42,000 UABEBEUSR$68,000 z ZZ, Inc reported total equity at...
The following information was taken from the accounting records of ZZ, Inc. for the year ended December 31, 2019: 7 Income Tax Expense . . . . $18,000 ZZ, Inc. reported total equity at December 31, 2019 of $178,000. Calculate the amount of net income earned by ZZ, Inc. during 2019.
JYF Company's accounting records at December 31, 2022 reported
the following account balances:
Cash $25,000
Retained Earnings $53,000 (at January 1, 2022)
Prepaid Insurance $18,000
Advertising Expense $22,000
Cost of Goods Sold $29,000
Interest Revenue $31,000
Copyright $28,000
Supplies $12,000
Accounts Receivable $51,000
Common Stock $91,000
Accounts Payable $50,000
Patent $21,000
Notes Payable $86,000 (due March 1, 2023)
Income Tax Expense $21,000
Inventory $59,000
Building $34,000
Salaries Expense $14,000
Sales Revenue $79,000
Dividends $11,000
Equipment $45,000
Calculate JYF Company's total...
JYF Company's accounting records at December 31, 2022 reported
the following account balances:
Cash $25,000
Retained Earnings $53,000 (at January 1, 2022)
Prepaid Insurance $18,000
Advertising Expense $22,000
Cost of Goods Sold $29,000
Interest Revenue $31,000
Copyright $28,000
Supplies $12,000
Accounts Receivable $51,000
Common Stock $91,000
Accounts Payable $50,000
Patent $21,000
Notes Payable $86,000 (due March 1, 2023)
Income Tax Expense $21,000
Inventory $59,000
Building $34,000
Salaries Expense $14,000
Sales Revenue $79,000
Dividends $11,000
Equipment $45,000
Calculate JYF Company's total...
The following account balances were taken from DJR Company’s
accounting records at December 31, 2021:
Accounts Payable ............ $69,000
Accounts Receivable ......... $56,000
Advertising Expense ......... $33,000
Building .................... $94,000
Cash ........................ $31,000
Common Stock ................ $82,000
Cost of Goods Sold .......... $30,000
Dividends ................... $19,000
Equipment ................... $86,000
Income Tax Expense .......... $17,000
Interest Expense ............ $11,000
Inventory ................... $54,000
Notes Payable ............... $96,000
Rental Revenue .............. $62,000
Retained Earnings ........... $60,000 (at January 1, 2021)
Salaries Expense ...............
The following account balances were taken from DJR Company’s
accounting records at December 31, 2021:
Accounts Payable ............ $69,000
Accounts Receivable ......... $56,000
Advertising Expense ......... $33,000
Building .................... $94,000
Cash ........................ $31,000
Common Stock ................ $82,000
Cost of Goods Sold .......... $30,000
Dividends ................... $19,000
Equipment ................... $86,000
Income Tax Expense .......... $17,000
Interest Expense ............ $11,000
Inventory ................... $54,000
Notes Payable ............... $96,000
Rental Revenue .............. $62,000
Retained Earnings ........... $60,000 (at January 1, 2021)
Salaries Expense ...............
Question 2 2.5 pts The following information was taken from the accounting records of ABC Company for the period ended January 31, 2019: Cash Retained Earnings Advertising Expense Cost of Goods Sold Rental Revenue Accounts Payable Common Stock Accumulated Depreciation $17,000 Accounts Receivable Income Tax Expense Inventory Wage Expense Sales Revenue Trademark Buildings and Land $29,000 566,«8« (at January 1, 2019) $17,000 $36,000 $11,000 $38,000 72,000 $45,000 $14,000 $51,000 $12,000 $93,000 $10,000 $83,000 Calculate the amount of net income earned...
Most questions answered within 3 hours.
-
Modify
When executing on the command line having only
this program name, the program will accept...
asked 42 minutes ago -
Kenny Electric Company's noncallable bonds were issued several
years ago and now have 20 years to...
asked 57 minutes ago -
find H(e^Jtheta) at theta= 0, pi/10, pi/20, pi/2 for
the following:
a) H(e^Jtheta)= 1+e^Jtheta
b) H(e^Jtheta)=...
asked 1 hour ago -
Home Corporation will open a new store on January 1. Based on
experience from its other...
asked 1 hour ago -
In a neoclassical model, use the IS-LM to analyze the effect of
a permanent money supply...
asked 2 hours ago -
An electron passes through a point 2.67 cm from a long straight
wire as it moves...
asked 2 hours ago -
A grammar is a 4-tuple G, G = (Ν, Σ, Π, Σ, S) where, Ν is...
asked 3 hours ago -
In this part, calculate the present values. Use the Excel PV
function to compute the present...
asked 3 hours ago -
Part 1. Primitive Types, Sorting, Recursion for
Homework.java
a) Implement the static method initializeArray that receives...
asked 4 hours ago -
Using C++, build a sorter that can rank a sequence of numbers in
a descending order....
asked 4 hours ago -
Derive ground state term symbols. Use notation 2S(1/2) for state
2S1/2
a) d5
b) f3
c)...
asked 5 hours ago -
A sample of size 31 will be drawn from a population with mean 39
and standard...
asked 5 hours ago